Alaska § 06.60.550 - Required fund fees.
Full text of Alaska Alaska Statutes § 06.60.550 — Required fund fees., with citation guidance and answers to common questions.
§ 06.60.550. Required fund fees.
(a) A person who applies for or renews a mortgage loan originator license shall pay to the department, in addition to the fees required by AS 06.60.035 , a fund fee established by the department.
(b) Every two years, if the department determines that the average balance in the fund during the previous two years was less than $250,000 or more than $500,000, the department shall, unless the department waives the adjustment, adjust the fund fee so that the average balance of the fund during the next two years is anticipated to be an amount that is not less than $250,000 or more than $500,000. In this subsection, “average balance” means the average balance in the fund after the department deducts anticipated expenditures for claims against the fund and for hearing and legal expenses directly related to fund operations and claims.
(c) At least once a month, the department shall pay the fees collected under this section into the general fund. These payments shall be credited to the fund.
(d) Notwithstanding (a) of this section, a mortgage loan originator licensee who obtains an initial mortgage loan originator license when the department has reduced the fund fee to nothing shall nonetheless pay the fund fee established by regulation to the department for the first year of the mortgage loan originator license.
Frequently Asked Questions About Alaska § 06.60.550
What does Alaska Statutes § 06.60.550 cover?
Section 06.60.550 ("Required fund fees.") 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 § 06.60.550?
A common citation format is "Alaska Statutes § 06.60.550" (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 § 06.60.550 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.