A marijuana establishment license issued under AS 17.38 and this chapter is not subject to foreclosure and may not be used as collateral to secure a debt. If a license is transferred to another person, the transferor may secure payment for real and personal property conveyed to the transferee upon the promise of the transferee to transfer the license back to the transferor upon default in payment.

(Eff. 3/22/2024, Register 249)

Authority: AS 17.38.010, AS 17.38.150, AS 17.38.900, AS 17.38.070, AS 17.38.190, AS 17.38.121, AS 17.38.200