Sections
Article 1 Licensing and Reporting Requirements 04.11.010 – 04.11.070
Article 2 Licenses and Permits 04.11.080 – 04.11.255
Article 3 Application for License or Permit 04.11.260 – 04.11.310
Article 4 Denial, Suspension, or Revocation of Licenses and Permits 04.11.320 – 04.11.370
Article 5 Restrictions on Issuance and Transfer of Licenses 04.11.395 – 04.11.460
Article 6 Procedures for Public Influence 04.11.470 – 04.11.509
Article 7 Board Procedures 04.11.510 – 04.11.537
Article 8 Expiration of Licenses 04.11.540 – 04.11.550
Article 9 Miscellaneous Provisions 04.11.560 – 04.11.690

Terms Used In Alaska Statutes > Chapter 11

  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Amortization: Paying off a loan by regular installments.
  • Annual percentage rate: The cost of credit at a yearly rate. It is calculated in a standard way, taking the average compound interest rate over the term of the loan so borrowers can compare loans. Lenders are required by law to disclose a card account's APR. Source: FDIC
  • Appraisal: A determination of property value.
  • Arrest: Taking physical custody of a person by lawful authority.
  • Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • board of directors: means the board of directors of the corporation created under this chapter. See Alaska Statutes 10.10.210
  • bona fide nonprofit organization: means an organization that the department has determined qualifies as a bona fide nonprofit organization under AS 06. See Alaska Statutes 06.60.990
  • borrower: means an individual who receives a mortgage loan. See Alaska Statutes 06.60.990
  • brand: means an identification mark burned into the hide of a live animal. See Alaska Statutes 03.40.270
  • commissioner: means the commissioner of commerce, community, and economic development or a designee of the commissioner. See Alaska Statutes 06.01.050
  • commissioner: means the commissioner of commerce, community, and economic development. See Alaska Statutes 10.10.210
  • commissioner: means the commissioner of commerce, community, and economic development or a designee of the commissioner. See Alaska Statutes 06.40.190
  • consumer reporting agency: means a consumer reporting agency that compiles and maintains files on consumers on a nationwide basis. See Alaska Statutes 06.60.990
  • control: means the power, directly or indirectly, to direct the management or policies of a company, whether through ownership of securities, by contract, or otherwise. See Alaska Statutes 06.60.990
  • control person: means an individual described in the uniform mortgage lender and mortgage broker application form of the registry who directly or indirectly exercises control over the applicant. See Alaska Statutes 06.60.990
  • corporation: means the Alaska Business and Industrial Development Corporation created under this chapter. See Alaska Statutes 10.10.210
  • Counterclaim: A claim that a defendant makes against a plaintiff.
  • Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. Source: OCC
  • creditor: includes the state on behalf of a victim of a crime or a delinquent act. See Alaska Statutes 09.38.500
  • debt: means a legally enforceable monetary obligation or liability of an individual, whether arising out of contract, tort, or otherwise. See Alaska Statutes 09.38.500
  • Decedent: A deceased person.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • department: means the Department of Labor and Workforce Development. See Alaska Statutes 05.20.120
  • department: means the Department of Commerce, Community, and Economic Development. See Alaska Statutes 06.01.050
  • department: means the Department of Commerce, Community, and Economic Development. See Alaska Statutes 06.40.190
  • department: means the Department of Commerce, Community, and Economic Development. See Alaska Statutes 06.60.990
  • dependent: means an individual who derives support primarily from another individual. See Alaska Statutes 09.38.500
  • depository institution: has the meaning given in 12 U. See Alaska Statutes 06.60.990
  • device: means a device that is designed and operated for the conveyance or movement of persons and that is used as a source of or aids in the promoting of entertainment, pleasure, play, relaxation, or instruction, including but not limited to ski tows, roller coasters, merry-go-rounds, and Ferris wheels. See Alaska Statutes 05.20.120
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • domestic animal: includes goats, sheep, cattle, horses, and swine. See Alaska Statutes 03.35.070
  • dwelling: means a residential structure or mobile home that contains one to four family housing units, or the individual units of condominiums or cooperatives. See Alaska Statutes 06.60.990
  • earnings: means money received by an individual for personal services and denominated as wages, salary, commissions, or otherwise. See Alaska Statutes 09.38.500
  • Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. Source: OCC
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Executor: A male person named in a will to carry out the decedent
  • exempt: means protected, and "exemption" means protection, from subjection to process or a proceeding to collect an unsecured debt. See Alaska Statutes 09.38.500
  • federal banking agency: means the Board of Governors of the Federal Reserve System, the Comptroller of the Currency, the director of the Office of Thrift Supervision, the National Credit Union Administration, and the Federal Deposit Insurance Corporation. See Alaska Statutes 06.60.990
  • Felony: A crime carrying a penalty of more than a year in prison.
  • financial institution: means an institution subject to the regulation of the department under this title. See Alaska Statutes 06.01.050
  • financial institution: means a banking corporation or trust company, savings and loan association, insurance company or related corporation, partnership, foundation, or other institution engaged primarily in lending or investing funds. See Alaska Statutes 10.10.210
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. Source: OCC
  • fund: means the mortgage loan originator surety fund established under AS 06. See Alaska Statutes 06.60.990
  • fund claim: means a claim against the fund. See Alaska Statutes 06.60.990
  • fund fee: means the fee required to be paid by AS 06. See Alaska Statutes 06.60.990
  • Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Grantor: The person who establishes a trust and places property into it.
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • hold out: means to represent to the public, through advertising or other means of communicating or providing information, including the use of business cards, stationery, brochures, signs, rate lists, or other promotional items, that the person can or will perform an activity for which a license is required under this chapter. See Alaska Statutes 06.60.990
  • household goods: includes those items that make a residence habitable according to modern standards. See Alaska Statutes 09.38.500
  • individual: means a natural person. See Alaska Statutes 06.60.990
  • institution: includes a commercial bank, savings bank, credit union, premium finance company, small loan company, bank holding company, financial holding company, trust company, savings and loan association, deferred deposit advance licensee under AS 06. See Alaska Statutes 06.01.050
  • knowingly: has the meaning given in AS 11. See Alaska Statutes 06.60.990
  • Law clerk: Assist judges with research and drafting of opinions.
  • levy: means the seizure of property under a writ of attachment, garnishment, execution, or any similar legal or equitable process issued for the purpose of collecting an unsecured debt. See Alaska Statutes 09.38.500
  • license: means a license issued under this chapter. See Alaska Statutes 06.60.990
  • licensed mortgage loan originator: means a person who holds a mortgage loan originator license issued under this chapter. See Alaska Statutes 06.60.990
  • licensee: means a person who holds a license issued under this chapter. See Alaska Statutes 06.60.990
  • lien: means

    (A) a security interest. See Alaska Statutes 09.38.500

  • Lien: A claim against real or personal property in satisfaction of a debt.
  • loan limit: means for any member, the maximum amount permitted to be outstanding at one time on loans made by the member to the corporation, as determined under this chapter. See Alaska Statutes 10.10.210
  • loan processor or underwriter: means an individual who performs clerical or support duties as an employee at the direction of and subject to the supervision and instruction of a person required to be licensed or exempt from licensing under this chapter. See Alaska Statutes 06.60.990
  • member: means a financial institution authorized to do business within this state that undertakes to lend money to a corporation created under this chapter, upon its call, and in accordance with this chapter. See Alaska Statutes 10.10.210
  • Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
  • month: means a calendar month unless otherwise expressed. See Alaska Statutes 01.10.060
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • mortgage broker: means a person who, for compensation or gain, or in the expectation of compensation or gain, directly or indirectly, by telephone, by electronic means, by mail, through the Internet, in person, or by the person itself or a mortgage loan originator,

    (A) arranges with a variety of lending sources, including private lenders, institutional investors, or wholesale lenders, to provide financing for mortgage loans. See Alaska Statutes 06.60.990

  • mortgage license: means a license issued under this chapter to operate as a mortgage lender or a mortgage broker. See Alaska Statutes 06.60.990
  • mortgage licensee: means a person who holds a mortgage license. See Alaska Statutes 06.60.990
  • mortgage loan: means a residential mortgage loan. See Alaska Statutes 06.60.990
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • oath: includes affirmation or declaration. See Alaska Statutes 01.10.060
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • operate: means hold out, do business, offer to provide services, or provide services. See Alaska Statutes 06.60.990
  • Oversight: Committee review of the activities of a Federal agency or program.
  • owner of land: includes a freeholder, tenant, contract vendee, or other person in actual possession of land. See Alaska Statutes 03.35.070
  • peace officer: means

    (A) an officer of the state troopers. See Alaska Statutes 01.10.060

  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
  • Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
  • premium finance agreement: means an agreement by which a borrower or prospective borrower promises to pay to a licensee or to its assignee the amount advanced or to be advanced under the agreement to an insurer or to an insurance agent or broker in payment of premiums on an insurance policy sold in this state or covering risks located in this state together with a service charge, and as a security for it the premium finance company receives an assignment of the unearned premium. See Alaska Statutes 06.40.190
  • premium finance company: means a person engaged in the business of entering into premium finance agreements with borrowers or of acquiring premium finance agreements from insurance agents, brokers or other premium finance companies. See Alaska Statutes 06.40.190
  • principal residence: means the actual dwelling place of an individual or dependents of the individual and includes real and personal property. See Alaska Statutes 09.38.500
  • Probable cause: A reasonable ground for belief that the offender violated a specific law.
  • Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
  • program administration fee: means the fee described under AS 06. See Alaska Statutes 06.60.990
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Alaska Statutes 06.60.990
  • registered depository institution: means a depository institution that is registered under AS 06. See Alaska Statutes 06.60.990
  • registered mortgage loan originator: means an individual who

    (A) is a mortgage loan originator and is an employee of

    (i) a depository institution. See Alaska Statutes 06.60.990

  • registry: means the Nationwide Mortgage Licensing System and Registry. See Alaska Statutes 06.60.990
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • residential mortgage loan: means a loan that is primarily for personal, family, or household use and that is secured by a mortgage, deed of trust, or other equivalent consensual security interest on a dwelling or residential real estate located in the state. See Alaska Statutes 06.60.990
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • security interest: means an interest in property created by contract to secure payment or performance of an obligation. See Alaska Statutes 09.38.500
  • 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.
  • Subpoena: A command to a witness to appear and give testimony.
  • subscription: includes the mark of a person who cannot write, with the name of that person written near the mark by a witness who writes the witness?s own name near the name of the person who cannot write. See Alaska Statutes 01.10.060
  • Summons: Another word for subpoena used by the criminal justice system.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
  • Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
  • Uphold: The decision of an appellate court not to reverse a lower court decision.
  • value: means fair market value of an individual?s interest in property, exclusive of liens of record. See Alaska Statutes 09.38.500
  • victim: has the meaning given in AS 12. See Alaska Statutes 09.38.500
  • wearing apparel: means clothing and garments intended and adapted to be worn on the person to protect the person against the elements or to provide personal comfort or decency, or serving to ornament the person but does not include jewelry. See Alaska Statutes 09.38.500
  • Writ: A formal written command, issued from the court, requiring the performance of a specific act.