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- Alaska Statutes.
- Title 6. Banks and Financial Institutions
- Chapter 50. Deferred Deposit Advances
- Section 530. Payment By Advance Recipient.
previous: Section 520
. Payment By Licensee.
next: Section 540
. Default Fees.
AS 06.50.530. Payment By Advance Recipient.
- (a) An advance recipient may repay an advance
- (1) in cash;
- (2) by negotiation of the recipient's check that secures the advance; or
- (3) with the agreement of the licensee, a debit card, a cashier's check, an electronic funds transfer from the recipient's
bank account, or a reasonable electronic payment mechanism to which the parties agree.
- (b) An advance is paid in full when the advance recipient repays the advance under (a) of this section, or when the
advance recipient rescinds the advance under AS 06.50.480
- (c) A licensee may not accept payment of an advance from the proceeds of another advance provided by the same licensee.
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