Collection Agency Licensing Requirements:

Title 8, Chapter 24 of the Alaska Statutes regulates the licensing requirements of a collection agency.  Every person who conducts a collection agency business, collect or solicit claims, or advertise or solicit either in print, by letter, in person or otherwise, to collect or receive payment of a claim for another person must comply with the licensing requirements.   (Section 08.24.090.)  A collection agency must be operated under the control and management of a licensed operator (Section 08.24.100).  The licensing requirements include the submission of a completed application, payment of a fee, and posting of a bond in the sum of $5,000.  Section 08.24.140(b) of the Alaska Statutes also requires that all funds collected by a collection agency for a client must be deposited in a trust account established at a financial institution in the State of Alaska or at a bank which is registered under Section 06.10.030 of the Alaska Statutes as an approved Model Foreign Bank.  A nonresident may apply for and receive a collection agency license or an operator license or both on the same basis as a resident. The application fee and the biennial license fee for a nonresident operator or nonresident agency license are double the same fees established by regulations under Section 08.01.065 for a resident operator or agency.

Applications for Agency and Operator's License and other related information may be obtained from:
  State Of Alaska Department Of Commerce and Economic Development Division Of Occupational Licensing Ninth Floor, State Office Building 333 Willoughby Avenue P. O. Box 110806 Juneau, Alaska 99811-0806 Tel: (907) 465-2695 Fax: (907) 465-2974

 Collection Agencies

Alaska Statutes Title 8
Business and Professions
Chapter 24. Collection Agencies

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