Alaska § 06.20.900 - Definitions.
Full text of Alaska Alaska Statutes § 06.20.900 — Definitions., with citation guidance and answers to common questions.
§ 06.20.900. Definitions.
In this chapter, unless the context otherwise requires, (1) “commissioner” means the commissioner of commerce, community, and economic development or a designee of the commissioner;
(2) “department” means the Department of Commerce, Community, and Economic Development;
(3) “open-end loan” means a loan made by a licensee under this chapter under an agreement between the licensee and a borrower which provides that (A) the borrower may obtain advances of money from the licensee from time to time or the licensee may advance money on behalf of the borrower from time to time as directed by the borrower;
(B) the amount of each advance and interest and charges will be added to the borrower's open-end loan account and payments and other credits are deducted from that account;
(C) interest will be computed on the unpaid principal balance or the average unpaid principal balance of the open-end loan account;
(D) the borrower may pay all or any part of the unpaid principal balance of the borrower's open-end loan account or, if the account is not in default, in monthly installments of fixed amounts as provided in the loan agreement; and
(E) the agreement covers open-end loans under this chapter.
Frequently Asked Questions About Alaska § 06.20.900
What does Alaska Statutes § 06.20.900 cover?
Section 06.20.900 ("Definitions.") is part of the Alaska Statutes, the codified statutory law of Alaska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alaska § 06.20.900?
A common citation format is "Alaska Statutes § 06.20.900" (Alaska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alaska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alaska official source linked on this page or consult a licensed Alaska attorney.
How does Alaska § 06.20.900 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alaska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alaska.