Alaska § 08.88.475 - Maximum liability.
Full text of Alaska Alaska Statutes § 08.88.475 — Maximum liability., with citation guidance and answers to common questions.
§ 08.88.475. Maximum liability.
(a) The maximum liability of the real estate recovery fund may not exceed $50,000 for any one real estate licensee.
(b) If the $50,000 liability of the fund as provided in (a) of this section is insufficient to pay in full the valid claims of all persons who have obtained a final judgment, final arbitration award, or settlement agreement involving an individual licensee and have filed claims for an award from the recovery fund, the $50,000 shall be distributed among the claimants in the ratio that their individual claims bear to the aggregate of valid claims, or in another manner that the commission considers equitable. Distribution shall be among the persons entitled to share in the recovery without regard to the order in which their claims were filed.
Frequently Asked Questions About Alaska § 08.88.475
What does Alaska Statutes § 08.88.475 cover?
Section 08.88.475 ("Maximum liability.") 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 § 08.88.475?
A common citation format is "Alaska Statutes § 08.88.475" (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 § 08.88.475 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.