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2020 Alaska Statutes
Title 45. Trade and Commerce
Chapter 35. Lease-Purchases of Personal Property
Sec. 45.35.030. Late fees.
Universal Citation: AK Stat § 45.35.030 (2020)
(a) A lessor may not charge a consumer more than $5 for each payment that is late under a lease-purchase agreement.
(b) When calculating time for the purpose of determining whether a lease payment is late and subject to a late fee under a lease-purchase agreement, a lessor may not include any period of time when the personal property has been repossessed by the lessor or voluntarily surrendered by the consumer.
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