Alaska Statutes 45.45.050 – Recovery by assignee of usurious contract of amount paid
Current as of: 2023 | Check for updates
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Terms Used In Alaska Statutes 45.45.050
- Contract: A legal written agreement that becomes binding when signed.
- Usury: Charging an illegally high interest rate on a loan. Source: OCC
Alaska Stat. § 45.45.010 – 45.45.070 do not prevent the bona fide assignee of a usurious contract from recovering against the immediate assignor, or the original usurer, the full amount paid by the assignee for the contract if the assignee did not have notice of the usury affecting the contract.