Revocation of Stop Lending Notice by Corporation (Alaska)

Alaska statutes permit a claimant to whom payment for labor, material, service, or equipment is past due to file a stop-lending notice with the financial lender funding the construction project. The legal effect of a properly served stop lending notice is that the lender may not release any additional funds for the project until ninety (90) days have passed or the lender receives a written revocation from the lien claimant.