Alaska Statutes 34.80.030 – Interest on escrow money
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Terms Used In Alaska Statutes 34.80.030
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- writing: includes printing. See Alaska Statutes 01.10.060
Notwithstanding any other provision of law, interest may not be collected or paid by a settlement agent on money held for an escrow transaction unless authorized in writing by the parties to the escrow transaction, including the settlement agent.