(a) An advance recipient may repay an advance
(1) in cash;
(2) by negotiation of the recipient's check that secures the advance; or
(3) with the agreement of the licensee, a debit card, a cashier's check, an electronic funds transfer from the recipient's bank account, or a reasonable electronic payment mechanism to which the parties agree.
(b) An advance is paid in full when the advance recipient repays the advance under (a) of this section, or when the advance recipient rescinds the advance under AS 06.50.480 .
(c) A licensee may not accept payment of an advance from the proceeds of another advance provided by the same licensee.
Section: Previous 06.50.430 06.50.440 06.50.450 06.50.460 06.50.470 06.50.480 06.50.490 06.50.500 06.50.510 06.50.520 06.50.530 06.50.540 06.50.550 06.50.560 NextLast modified: November 15, 2016