reglab/housing_qa huggingface dataset:
AK Stat § 06.40.140 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 40. Premium Financing Act|Article 2. Operations.|Sec. 06.40.140. Cancellation of policy.

(a) When a premium finance agreement contains a power of attorney enabling the licensee to cancel the insurance policy listed in the agreement, the insurance policy may not be cancelled by the licensee unless the cancellation is effectuated under this section. (b) The licensee shall give not less than 10 days' written notice to the borrower, by mailing by certified mail or documented by an affidavit of mailing, of the licensee's intent to cancel the insurance policy unless the default is cured within that 10-day period. A copy of the notice shall also be mailed by certified mail or documented by an affidavit of mailing to the insurance agent indicated on the premium finance agreement. (c) After expiration of the 10-day period specified in (b) of this section, the licensee may, in the name of the borrower, cancel the insurance policy by mailing by certified mail or documented by an affidavit of mailing to the insurer a notice of cancellation. The insurance policy shall be cancelled as if the notice of cancellation had been submitted by the borrower, but without requiring the return of the insurance policy. The licensee shall also mail by certified mail or documented by an affidavit of mailing a notice of cancellation to the borrower at the borrower's last-known address and to the insurance agent indicated on the premium finance agreement. (d) All statutory, regulatory, and contractual restrictions providing that the insurance policy may not be cancelled unless notice is given to a governmental agency, mortgagee, or other third party shall apply where cancellation is effected under this section. The insurer shall give the prescribed notice on behalf of itself or the borrower to any governmental agency, mortgagee, or other third party on or before the fifth business day after the date it receives the notice of cancellation from the licensee and shall determine the effective date of cancellation, taking into consideration the number of days' notice required to complete the cancellation.
AK Stat § 06.40.150 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 40. Premium Financing Act|Article 2. Operations.|Sec. 06.40.150. Return of unearned premiums.

(a) If a financed insurance policy is cancelled, and provided the insurer has been notified of the assignment of interest of the insured to the licensee, the insurer shall, within 60 days after the effective date of cancellation, take the steps that are necessary to have any gross unearned premiums that are due under the insurance policy returned to the licensee for the account of the borrower if the licensee has complied with the notice provisions of AS 06.40.140(b). (b) If the crediting of return premiums to the account of the borrower results in a surplus over the amount due from the borrower, the licensee shall refund the excess to the borrower; however, a refund is not required if it amounts to less than $1.
AK Stat § 06.40.160 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 40. Premium Financing Act|Article 3. General Provisions.|Sec. 06.40.160. Consequences of violations.

(a) A lender who, in the making of any contract, loan, or premium finance agreement or the collection of interest or charges, does any act that violates AS 06.40.010 - 06.40.020, 06.40.090, or 06.40.110 - 06.40.130 shall at the option of the commissioner reimburse that portion of the interest and charges in excess of that provided in those sections, or, in the case of repeated violations of those sections by the lender, the lender shall adjust the contract, loan, or premium finance agreement interest and other charges down to the contract interest limitation specified in AS 45.45.010(a). (b) [Repealed, § 102 ch 26 SLA 1993.]
AK Stat § 06.40.170 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 40. Premium Financing Act|Article 3. General Provisions.|Sec. 06.40.170. Filing not required to perfect validity of agreement.

A filing under AS 45.29 of the premium finance agreement is not necessary to perfect the validity of the agreement as a secured transaction against creditors, subsequent purchasers, pledgees, encumbrancers, successors, or assigns.
AK Stat § 06.40.180 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 40. Premium Financing Act|Article 3. General Provisions.|Sec. 06.40.180. Regulations, orders.

The commissioner shall adopt regulations necessary to carry out this chapter, and the commissioner may order any person to cease violation of this chapter or a regulation adopted under it.
AK Stat § 06.40.190 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 40. Premium Financing Act|Article 3. General Provisions.|Sec. 06.40.190. Definitions.

In this chapter, unless the context otherwise requires, (1) “commissioner” means the commissioner of commerce, community, and economic development or a designee of the commissioner; (2) “department” means the Department of Commerce, Community, and Economic Development; (3) “premium finance agreement” means an agreement by which a borrower or prospective borrower promises to pay to a licensee or to its assignee the amount advanced or to be advanced under the agreement to an insurer or to an insurance agent or broker in payment of premiums on an insurance policy sold in this state or covering risks located in this state together with a service charge, and as a security for it the premium finance company receives an assignment of the unearned premium; however, a mortgage, conditional sale contract, or other security agreement covering property which authorizes the lienholder to pay or advance premiums for insurance under the mortgage, contract, or other security agreement is not considered to be a premium finance agreement; (4) “premium finance company” means a person engaged in the business of entering into premium finance agreements with borrowers or of acquiring premium finance agreements from insurance agents, brokers or other premium finance companies.
AK Stat § 06.50.010 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 50. Deferred Deposit Advances|Article 1. Licensing.|Sec. 06.50.010. License required.

A person, including a person doing business from outside this state, may not engage in the business of making or offering to make deferred deposit advances in this state without having a license under this chapter. A separate license is required for each physical location or Internet website from which the person conducts the business.
AK Stat § 06.50.020 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 50. Deferred Deposit Advances|Article 1. Licensing.|Sec. 06.50.020. Qualifications for license.

(a) To qualify for a license, an applicant shall (1) have cash assets of at least $25,000, as determined under generally accepted accounting principles, except that an applicant who wants to engage in the business of making advances at more than one location in the state shall have cash assets of at least $25,000 for each location; (2) demonstrate the financial responsibility, financial condition, business experience, character, and general fitness that reasonably warrant the department's belief that the applicant's business will be conducted lawfully and fairly; when determining whether this qualification has been met, and for the purpose of investigating compliance with this chapter, the department may review (A) the relevant business records of the applicant and the adequacy of the capital of the applicant; (B) the competence, experience, integrity, and financial ability of the applicant, and, if the applicant is an entity, of any person who is a member, partner, director, senior officer, or owner of 10 percent or more of the equity of the applicant; and (C) a record, on the part of the applicant or a person described in (B) of this paragraph, of (i) a conviction for criminal activity, fraud, or other act of personal dishonesty; (ii) an act, an omission, or a practice that constitutes a breach of a fiduciary duty; or (iii) a suspension, a revocation, a removal, or an administrative act by an agency or a department of the United States or a state limiting the applicant's or person's participation in the conduct of a business; (3) if the person has a physical business location in the state, have a physical business location that is accessible by and convenient to the public; (4) have a current business license issued under AS 43.70; and (5) if applicable, have a certificate of incorporation under AS 10.06.218, have a certificate of authority under AS 10.06.705, have a copy of articles of organization that satisfies AS 10.50.090, be registered under AS 10.50.605, have a statement of foreign qualification filed under AS 32.06.922, have a certificate of limited partnership filed under AS 32.11.060, or be registered under AS 32.11.420. (b) The requirements in (a) of this section are continuing in nature and may be reviewed periodically by the department.
AK Stat § 06.50.030 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 50. Deferred Deposit Advances|Article 1. Licensing.|Sec. 06.50.030. Application.

(a) An application for a license must be in writing and under oath, in a form prescribed by the department by regulation, and include at least (1) the legal name, residence, and business address of the applicant and, if the applicant is not a natural person, of each member, partner, director, senior officer, or owner of 10 percent or more of the equity of the applicant; (2) the address and physical location of the principal place of business named in the application; and (3) other information the department may require with respect to the applicant and, if the applicant is not a natural person, about the applicant's members, partners, directors, senior officers, or owners of 10 percent or more of the equity of the applicant. (b) The applicant shall submit with the application the bond required by AS 06.50.040 and a nonrefundable application fee in an amount that is established by the department by regulation and that does not exceed $3,000. The application fee for the initial license may not be prorated.
AK Stat § 06.50.040 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 50. Deferred Deposit Advances|Article 1. Licensing.|Sec. 06.50.040. Bond.

(a) An applicant for a license shall file with the application a bond (1) in a form to be approved by the department; (2) in which the applicant is the obligor; and (3) in the sum of $25,000 for a business with one location and $50,000 for a business with more than one location. (b) Only one bond is required for an application for a business with more than one location. (c) The bond required by (a) of this section is for the use of the state and a person who may have a cause of action against the obligor under this chapter. (d) The bond must state that the obligor will (1) faithfully conform to and abide by the provisions of this chapter and regulations adopted by the department under this chapter; and (2) pay to the state and to a person all money that may become due or owing to the state or to the person from the applicant under this chapter. (e) The bond must remain in effect for three years following the denial of a renewal of a license or the expiration of a license. (f) If, at any time, the department finds that a bond filed under (a) of this section is unsatisfactory for any reason, the department may require the licensee to file, within 10 days after the receipt of a written demand, an additional bond to comply with this section. (g) The licensee shall file a new bond that complies with this section each time a license is renewed.
AK Stat § 06.50.050 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 50. Deferred Deposit Advances|Article 1. Licensing.|Sec. 06.50.050. Investigation by department.

Within 60 days after an applicant files a completed application, the bond, and an application fee, the department shall investigate whether the applicant satisfies the qualifications of AS 06.50.020(a). If the department finds that the applicant satisfies the qualifications, it shall approve the application and issue the applicant a license to engage in the business of making deferred deposit advances.
AK Stat § 06.50.060 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 50. Deferred Deposit Advances|Article 1. Licensing.|Sec. 06.50.060. Conditions precedent to license.

The requirements of AS 06.50.030 - 06.50.050 are conditions precedent to the issuance of a license under this chapter. The license permits the applicant to make advances under this chapter at the location specified in the application.
AK Stat § 06.50.070 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 50. Deferred Deposit Advances|Article 1. Licensing.|Sec. 06.50.070. Duration of license.

A license issued under this chapter is valid for two calendar years. Each license remains in force through the calendar year after the calendar year in which the license was issued unless surrendered, suspended, or revoked under this chapter.
AK Stat § 06.50.080 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 50. Deferred Deposit Advances|Article 1. Licensing.|Sec. 06.50.080. Renewal of license.

A license issued under this chapter shall be renewed on or before the date set by the department by submitting to the department a completed renewal application on a form established by the department and paying a nonrefundable renewal fee established by the department, which may not exceed $3,000.
AK Stat § 06.50.090 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 50. Deferred Deposit Advances|Article 1. Licensing.|Sec. 06.50.090. Denial of license or renewal.

(a) If the department determines that an applicant is not qualified to receive a license or a license renewal, the department shall notify the applicant in writing within 20 days that the application has been denied and state the basis for the denial. (b) The decision of the department to deny an application or a renewal may be reviewed in the manner provided in AS 44.62.330 - 44.62.630 (Administrative Procedure Act). (c) If the denial of a renewal is upheld, the former licensee shall return the license to the department within 10 days after the former licensee receives notice of the denial. (d) A license application shall be considered withdrawn within the meaning of this section if the applicant fails to respond to a written notification of a deficiency in the application within 60 days after the date of the notification. (e) If a license renewal is denied or if a license is surrendered, suspended, or revoked, all accounts of the licensee remain subject to this chapter until paid in full.
AK Stat § 06.50.200 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 50. Deferred Deposit Advances|Article 2. License Transfer, Assignment, Control, and Change.|Sec. 06.50.200. Transfer or assignment.

Except for the transfer of a license to a new location under AS 06.50.220, a licensee may not transfer or assign the licensee's license.
AK Stat § 06.50.210 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 50. Deferred Deposit Advances|Article 2. License Transfer, Assignment, Control, and Change.|Sec. 06.50.210. Change in control.

The prior written approval of the department is required for the continued operation of a licensee's deferred deposit advance business when a change in control of the licensee is proposed. The department may require the information it considers necessary to determine whether a new application is required. The licensee requesting approval of the change in control shall pay all reasonable expenses incurred by the department to investigate and approve or deny the change in control.
AK Stat § 06.50.220 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 50. Deferred Deposit Advances|Article 2. License Transfer, Assignment, Control, and Change.|Sec. 06.50.220. Change in location or name.

A licensee shall notify the department in writing at least 15 days before any proposed change in the licensee's business location or name, and shall provide the department with the information described in AS 06.50.030(a).
AK Stat § 06.50.230 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 50. Deferred Deposit Advances|Article 2. License Transfer, Assignment, Control, and Change.|Sec. 06.50.230. Conduct of other business.

A licensee may conduct other business at a location where it engages in making advances unless it conducts the other business for the purpose of evading or violating the provisions of this chapter.
AK Stat § 06.50.300 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 50. Deferred Deposit Advances|Article 3. Department Supervision.|Sec. 06.50.300. Suspension or revocation of license.

(a) The department may suspend or revoke a license under AS 44.62 (Administrative Procedure Act) if the department finds that (1) the licensee has failed to pay the license fee, failed to maintain the required bond in effect, or failed to comply with a demand, ruling, or requirement of the department made under this chapter; (2) the licensee has violated a provision of this chapter or a regulation adopted by the department under this chapter; or (3) a fact or condition exists that, if it had existed at the time of the original application for the license, clearly would have constituted ground for denial of the issuance of the license. (b) If the reason for suspension or revocation of a licensee's license at one location applies generally to all locations operated by the licensee, the department may suspend or revoke all licenses issued to the licensee.
AK Stat § 06.50.310 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 50. Deferred Deposit Advances|Article 3. Department Supervision.|Sec. 06.50.310. Reports to department.

(a) On or before March 15 of each year, a licensee shall file with the department a composite annual report for the preceding calendar year in the form prescribed by the department relating to all advances made by the licensee. The department may require that the report be submitted under oath or affirmation, or with notice that false statements made are punishable as unsworn falsification in the second degree under AS 11.56.210. (b) The report must include (1) the total number and dollar amount of advances made by the licensee; (2) the total number of individual customers who received advances; (3) the minimum, maximum, and average amount of advances; (4) the average annual percentage rate of the fee charged for advances; (5) the average number of days of the advances; (6) the total number and dollar amount of returned checks; (7) the total number and dollar amount of checks paid by advance recipients; (8) the total number and dollar amount of checks charged off as a loss; (9) the total dollar amount of outstanding advances as of the last day of the calendar year; (10) the total number of outstanding advances as of the last day of the calendar year; and (11) any other information the department determines is required to conduct its review. (c) Within 15 days after the occurrence of any of the following events, a licensee shall file a written report with the department describing the event and its expected effect on the activities of the licensee in the state: (1) filing for bankruptcy or reorganization by the licensee; (2) institution of suspension or revocation proceedings against the licensee by a state or other governmental authority; (3) a felony indictment or felony conviction of the licensee and, if the licensee is not a natural person, of a member, partner, director, senior officer, or holder of 10 percent or more of the licensee's equity; and (4) other events that the department determines and identifies by regulation that may impair the ability of the licensee to operate its business under this chapter. (d) In the discretion of the department, the occurrence of an event in (c) of this section may constitute grounds for suspension or revocation of a license.
AK Stat § 06.50.320 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 50. Deferred Deposit Advances|Article 3. Department Supervision.|Sec. 06.50.320. Records.

(a) A licensee shall maintain all records relating to this chapter at the location for which the licensee has a license. The records must conform to generally accepted accounting principles and practices in a manner that will enable the department to determine whether the licensee is complying with the provisions of this chapter. The department shall have unrestricted access to the records of the licensee. (b) A licensee shall retain records relating to an advance for at least two years after the last entry on the advance, unless otherwise required by the department. (c) A licensee shall retain records of an advance that is the subject of a court action for at least two years after a judgment or settlement of the court action.
AK Stat § 06.50.330 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 50. Deferred Deposit Advances|Article 3. Department Supervision.|Sec. 06.50.330. Examinations and investigations.

(a) The department shall examine the business records of a licensee at intervals the department considers appropriate. In addition, for the purpose of discovering violations of this chapter or securing information lawfully required, the department may, at any time, investigate the advances, business transactions, and records of a licensee. For these purposes, the licensee shall provide the department with unrestricted access to the offices, places of business, and records of the licensee. Within 30 days after the department requests payment, the licensee shall pay the department the cost of examination at a rate of $75 an hour for each examiner. (b) For the purposes of this section, the department may administer oaths or affirmations and, upon its own motion or upon request of a party, may subpoena witnesses, compel the attendance of witnesses, take evidence, and require the production of material that is relevant to the investigation, including the existence, description, nature, custody, condition, and location of books, documents, and other tangible items, and the identity and location of persons having knowledge of relevant facts, or other material reasonably calculated to lead to the discovery of admissible evidence. (c) Upon failure without lawful excuse to obey a subpoena or to give testimony, and upon reasonable notice to all persons affected by the failure, the department may apply to the superior court for an order compelling compliance.