Alaska § 28.20.120 - Agreements for payment of damages.
Full text of Alaska Alaska Statutes § 28.20.120 — Agreements for payment of damages., with citation guidance and answers to common questions.
§ 28.20.120. Agreements for payment of damages.
(a) Two or more persons involved in or affected by an accident as described in AS 28.20.050 may at any time enter into a written agreement for the payment of an agreed amount with respect to their claims because of bodily injury, death, or property damage arising from the accident. The agreement may provide for payment in installments. The parties may file a signed copy of the agreement with the department.
(b) If proof of financial responsibility is provided and to the extent provided by the written agreement filed with it, the department may not require the deposit of security and shall terminate a previous order of suspension, or if security was deposited, the department shall immediately return the security to the depositor or the personal representative of the depositor.
(c) If there is a default in a payment under the agreement, upon notice of default the department shall take action suspending the license of the person in default as is appropriate in case of failure of the person to deposit security when required under this chapter.
(d) The suspension remains in effect and the license may not be restored until (1) security is deposited as required under this chapter in the amount the department determines; or
(2) when, following default and suspension, the person in default pays the balance of the agreed amount; or
(3) one year elapses following the effective date of the suspension and evidence satisfactory to the department is filed with it that during the period no action at law upon the agreement is pending.
Source: official Alaska text · Last verified 2026-08-27
Frequently Asked Questions About Alaska § 28.20.120
What does Alaska Statutes § 28.20.120 cover?
Section 28.20.120 ("Agreements for payment of damages.") 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 § 28.20.120?
A common citation format is "Alaska Statutes § 28.20.120" (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 § 28.20.120 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.