Alaska Administrative Code
Title 3 - Commerce, Community, and Economic Development
Part 1 - Banking, Securities, Small Loans and Corporations
Chapter 13 - Money Services
Article 5 - General Provisions
3 AAC 13.990 - Definitions

Universal Citation: 3 AK Admin Code 13.990

Current through February 24, 2025

In AS 06.55 and this chapter,

(1) "business day" means a day other than Saturday, Sunday, or a state or federal holiday;

(2) "department" means the Department of Commerce, Community, and Economic Development;

(3) "Form MUI" means the uniform money services license application developed and used by the registry;

(4) "monetary value" has the meaning of AS 06.55.990(10) and includes virtual currency;

(5) "registry" means the Nationwide Multistate Licensing System and Registry; in this paragraph, "Nationwide Multistate Licensing System and Registry" means a licensing system developed by the Conference of State Bank Supervisors and the American Association of Residential Registry, LLC, or a successor or an affiliated entity, for the licensing and registration of persons in the mortgage and other financial services industries;

(6) "virtual currency"

(A) means a digital representation of value that is used as a medium of exchange, unit of account, or store of value; and is not money, whether or not denominated in money;

(B) does not include
(i) a transaction in which a merchant grants, as part of an affinity or rewards program, value that cannot be taken from or exchanged with the merchant, bank credit, or virtual currency; or

(ii) a digital representation of value issued by or on behalf of a publisher and used solely within an online game, game platform, or family of games sold by the same publisher or offered on the same game platform.

Authority:AS 06.55.102

AS 06.55.103

AS 06.55.105

AS 06.55.106

AS 06.55.203

AS 06.55.204

AS 06.55.403

AS 06.55.404

AS 06.55.405

AS 06.55.820

AS 06.55.990

AS 44.33.020

Disclaimer: These regulations may not be the most recent version. Alaska may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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