Made available by
Touch N' Go Systems, Inc., and the
Law Offices of James B. Gottstein.
You can also go to The Alaska Legal Resource Center or search the entire website search.
|
(a) If a royalty payment is unpaid or underpaid on the date the amount of the royalty payment is due, the division will assess an interest charge on the unpaid and underpaid royalty payment from the first day after the date the amount is due as specified in this chapter. The division will charge interest only on the amount of the payment not received and only for the number of days, including the day of the payment, the payment is late. Unless otherwise specified in the lease, the division will charge interest on a late payment or underpayment at the rate established by AS 38.05.135 (d).
(b) If a royalty payment is overpaid the division will pay or credit interest on the overpayment from the first day after the date the royalty payment is due as specified in this chapter or received, whichever is later, until and including the date the overpayment is paid or credited. The division will pay or credit interest only on the amount of the payment received in excess of the amount due. Unless otherwise specified in the lease or in a settlement agreement, the division will pay or credit interest on an overpayment at the rate established by AS 38.05.135 (e).
History: Eff. 2/21/98, Register 145; am 12/27/2002, Register 164
Authority: AS 38.05.020
Note to HTML Version:
The Alaska Administrative Code was automatically converted to HTML from a plain text format. Every effort has been made to ensure its accuracy, but neither Touch N' Go Systems nor the Law Offices of James B. Gottstein can be held responsible for any possible errors. This version of the Alaska Administrative Code is current through June, 2006.
If it is critical that the precise terms of the Alaska Administrative Code be known, it is recommended that more formal sources be consulted. Recent editions of the Alaska Administrative Journal may be obtained from the Alaska Lieutenant Governor's Office on the world wide web. If any errors are found, please e-mail Touch N' Go systems at E-mail. We hope you find this information useful. Copyright 2006. Touch N' Go Systems, Inc. All Rights Reserved.
Last modified 7/05/2006