{"data":{"id":"us-ak/as-06.20.230","jurisdiction":"us-ak","citation":"AS 06.20.230","heading":"Maximum interest permitted.","body":"(a) A licensee may lend any sum of money not exceeding $25,000 and may charge, contract for, and receive on the loan interest at a rate not exceeding three percent a month on that part of the unpaid principal balance of a loan not in excess of $850; two percent a month on the unpaid principal balance exceeding $850 but not exceeding $10,000; and at a rate agreed by contract on the remainder of any unpaid principal balance exceeding $10,000 but not exceeding $25,000.\n(b) Notwithstanding the provisions of (a) of this section, a licensee who makes open-end loans under this chapter may charge, contract for, and receive interest at a rate not exceeding three percent a month on that part of the unpaid principal balance of a loan not in excess of $850; two percent a month on the unpaid principal balance exceeding $850 but not exceeding $10,000; and at a rate agreed by contract on the remainder of any unpaid principal balance exceeding $10,000 but not exceeding $25,000.\n(c) Interest on loans under (b) of this section shall be computed according to the actuarial method on the entire unpaid principal balance as determined under AS 06.20.285(b).","path":["Title 6. Banks and Financial Institutions.","Chapter 20. Alaska Small Loans Act.","Article 4. Business Practices."],"source_url":"https://www.akleg.gov/basis/statutes.asp#06.20.230","current_through":"Alaska Statutes 2025 (34th Legislature, 2025-2026)","vintage":"","retrieved_at":"2026-09-02T06:16:15Z","sha256":"beccaf019a28b6b55a0408d4d282c07539337bc16b2a7fd504beace448260aaf","source_id":"us-ak","stale":false,"prev":"us-ak/as-06.20.220","next":"us-ak/as-06.20.240"},"notice":"GroundRules: Original legal text. Not legal advice."}