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AK HB188
Bill
AI Summary
- Amends Alaska Statute 45.45.010(b) to change the maximum allowable interest rate that may be charged by express agreement to the greater of 10 percent or five percentage points above the annual rate charged by the 12th Federal Reserve District
- Exempts contracts or loan commitments with principal amounts exceeding $25,000 from the interest rate limitation
- Does not apply to contracts or loan commitments entered into before the effective date of this Act
- Effective in 2011
Legislative Description
Interest Rates
Consumer Affairs
Last Action
EFFECTIVE DATE(S) OF LAW 10/20/11
8/24/2011
Committee Referrals
Labor & Commerce3/10/2011
Full Bill Text
No bill text available