Alaska Administrative Code
Title 3 - Commerce, Community, and Economic Development
Part 1 - Banking, Securities, Small Loans and Corporations
Chapter 20 - Land Sales
Article 2 - Unfair Acts and Practices
3 AAC 20.120 - Repurchases, refunds, referrals

Universal Citation: 3 AK Admin Code 20.120

Current through February 24, 2025

It is an unfair act or practice for a person

(1) to represent to a purchaser or a prospective purchaser that the developer will buy back, resell, list, or otherwise dispose of purchased property, unless it is true;

(2) to induce a purchaser or prospective purchaser to buy land or execute a contract, agreement, option for consideration, or other evidence of indebtedness on the basis that if the purchaser is not satisfied, a refund will be made, unless this is true;

(3) to represent or promise a commission, bonus, discount, reward, override, or prize for referring other purchasers to the developer, where the promise or representation is similarly made to those referred.

Authority:AS 34.55.020

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