49 chapters · 1,288 sections in this title.
AS 45.45.010 Legal rate of interest; prepayment of interest.
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(a) The rate of interest in the state is 10.5 percent a year and no more on money after it is due except as provided in (b) of this section. (b) Interest may not be charged by express agreement of the parties in a contract or loan commitment that is more than the greater of 10 pe…
AS 45.45.020 Higher rate of interest prohibited.
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A person may not, directly or indirectly, receive in money, goods, or things in action, or in any other manner, a greater sum or value for the loan or use of money, or upon contract founded upon a bargain, sale, or loan of wares, merchandise, goods, chattels, lands, and tenements…
AS 45.45.030 Action for recovery of double amount of usurious interest paid.
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If interest greater than that prescribed in AS 45.45.010 and 45.45.020 is received or collected, the person paying it may, by action brought within two years after the payment, recover from the person receiving the payment double the amount of the interest received or collected.
AS 45.45.040 Usurious rate as working forfeiture of entire interest.
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If, in an action brought on a contract, the court determines that a rate of interest has been contracted for greater than is authorized by AS 45.45.010 45.45.070, either directly or indirectly, in money, property, or other valuable thing, or that a gift or donation of money, pr…