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https://law.justia.com/codes/alabama/title-5/chapter-18a/section-5-18a-16/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 18A - Deferred Presentment Services Act.›Section 5-18A-16 - Violations of Chapter. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 18A - Deferred Presentment Services Act. › Section 5-18A-16 - Violations of Chapter. | Section 5-18A-16
Violations of chapter.
If, after a hearing, the supervisor finds that a person has violated this chapter or any administrative regulation issued pursuant to this chapter, the supervisor may take any one or more of the following enforcement actions:
(1) Order the person to cease and desist violating the... |
https://law.justia.com/codes/alabama/title-5/chapter-18a/section-5-18a-17/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 18A - Deferred Presentment Services Act.›Section 5-18A-17 - Consent Orders; Civil or Criminal Penalties; Extraordinary Circumstances. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 18A - Deferred Presentment Services Act. › Section 5-18A-17 - Consent Orders; Civil or Criminal Penalties; Extraordinary Circumstances. | Section 5-18A-17
Consent orders; civil or criminal penalties; extraordinary circumstances.
(a) The supervisor may enter into consent orders at any time with any person to resolve any matter arising under this chapter. A consent order shall be signed by the person to whom it is issued, or a duly authorized representativ... |
https://law.justia.com/codes/alabama/title-5/chapter-18a/section-5-18a-18/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 18A - Deferred Presentment Services Act.›Section 5-18A-18 - Written Complaint; Investigation; Compliance With Subpoena. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 18A - Deferred Presentment Services Act. › Section 5-18A-18 - Written Complaint; Investigation; Compliance With Subpoena. | Section 5-18A-18
Written complaint; investigation; compliance with subpoena.
(a) Any person aggrieved by the conduct of a licensee under this chapter in connection with the regulated activities of the licensee may file a written complaint with the supervisor who may investigate the complaint.
(b) In the course of the i... |
https://law.justia.com/codes/alabama/title-5/chapter-18a/section-5-18a-19/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 18A - Deferred Presentment Services Act.›Section 5-18A-19 - Public Notice of Provisions. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 18A - Deferred Presentment Services Act. › Section 5-18A-19 - Public Notice of Provisions. | Section 5-18A-19
Public notice of provisions.
Every licensee shall conspicuously post a sign, as designed by the department, notifying the public of the pertinent provisions of this chapter and any consequences related to entering into a deferred presentment transaction pursuant to this chapter.
(Act 2003-359, p. 992, ... |
https://law.justia.com/codes/alabama/title-5/chapter-18a/section-5-18a-20/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 18A - Deferred Presentment Services Act.›Section 5-18A-20 - Excessive Charges. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 18A - Deferred Presentment Services Act. › Section 5-18A-20 - Excessive Charges. | Section 5-18A-20
Excessive charges.
Any person who willfully makes charges in excess of those permitted by Section 5-18A-12 or any person who willfully engages in the business of cashing deferred presentment checks in violation of Section 5-18A-3, or both, is guilty of a Class B misdemeanor for the first offense and a ... |
https://law.justia.com/codes/alabama/title-5/chapter-18a/section-5-18a-21/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 18A - Deferred Presentment Services Act.›Section 5-18A-21 - Disposition of Funds. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 18A - Deferred Presentment Services Act. › Section 5-18A-21 - Disposition of Funds. | Section 5-18A-21
Disposition of funds.
All license fees and administrative penalties collected under this chapter shall be paid into the special fund provided by Section 5-2A-20, and used in the supervision and examination of applicants and licensees.
(Act 2003-359, p. 992, §21.) |
https://law.justia.com/codes/alabama/title-5/chapter-18a/section-5-18a-22/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 18A - Deferred Presentment Services Act.›Section 5-18A-22 - Claims Preceding Effective Date of Chapter. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 18A - Deferred Presentment Services Act. › Section 5-18A-22 - Claims Preceding Effective Date of Chapter. | Section 5-18A-22
Claims preceding effective date of chapter.
The provisions of this chapter shall not be construed to take away or negatively impact the customers' claims in pending lawsuits against persons operating deferred presentment services on or before June 20, 2003.
(Act 2003-359, p. 992, §22.) |
https://law.justia.com/codes/alabama/title-5/chapter-19/section-5-19-1/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19 - Consumer Finance.›Section 5-19-1 - Definitions. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-1 - Definitions. | Section 5-19-1
Definitions.
For the purposes of this chapter, the following terms shall have the following meanings respectively ascribed to them by this section:
(1) FINANCE CHARGE. The sum of all charges, payable directly or indirectly by the person to whom credit is extended, and imposed directly or indirectly by th... |
https://law.justia.com/codes/alabama/title-5/chapter-19/section-5-19-1-1/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19 - Consumer Finance.›Section 5-19-1.1 - Legislative Findings. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-1.1 - Legislative Findings. | Section 5-19-1.1
Legislative findings.
The Legislature finds as fact and determines that:
(1) The Alabama Consumer Credit Act, Title 5, Chapter 19, (commonly referred to as the "Mini-Code"), was enacted by the Legislature by Acts 1971, No. 2052, page 3290. All, or a portion, of the provisions of the Mini-Code apply to ... |
https://law.justia.com/codes/alabama/title-5/chapter-19/section-5-19-3/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19 - Consumer Finance.›Section 5-19-3 - Maximum Finance Charges; Contracting for Minimum Finance Charge; Alternate per Mont... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-3 - Maximum Finance Charges; Contracting for Minimum Finance Charge; Alternate per Month Computed Finance Charge. | Section 5-19-3
Maximum finance charges; contracting for minimum finance charge; alternate per month computed finance charge.
(a) Except under open-end credit plans, the maximum finance charge for any credit transaction where the original amount financed is less than two thousand dollars ($2,000), may equal but may not ... |
https://law.justia.com/codes/alabama/title-5/chapter-19/section-5-19-4/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19 - Consumer Finance.›Section 5-19-4 - Additional Charges for Default or Deferral; Prepayment; Renewal or Refinancing; Rea... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-4 - Additional Charges for Default or Deferral; Prepayment; Renewal or Refinancing; Real Property Transactions. | Section 5-19-4
Additional charges for default or deferral; prepayment; renewal or refinancing; real property transactions.
(a) When a scheduled payment in a consumer credit transaction is in default 10 days or more, the creditor may charge and collect a late charge not exceeding the greater of eighteen dollars ($18) or... |
https://law.justia.com/codes/alabama/title-5/chapter-19/section-5-19-5/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19 - Consumer Finance.›Section 5-19-5 - Acceptance of Negotiable Instruments as Evidence of Consumer Debt. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-5 - Acceptance of Negotiable Instruments as Evidence of Consumer Debt. | Section 5-19-5
Acceptance of negotiable instruments as evidence of consumer debt.
In a consumer credit sale, the seller may not take as evidence of the obligation of the buyer, a negotiable instrument other than (1) a check; or (2) a promise or order containing a statement, required by applicable statutory or administr... |
https://law.justia.com/codes/alabama/title-5/chapter-19/section-5-19-6/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19 - Consumer Finance.›Section 5-19-6 - Copies of Instruments Signed by Debtors to Be Furnished to Debtors; Required Statem... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-6 - Copies of Instruments Signed by Debtors to Be Furnished to Debtors; Required Statement in Contracts, etc.; Limitation on Disclosure Requirements; Intent, Applicability of Limitation. | Section 5-19-6
Copies of instruments signed by debtors to be furnished to debtors; required statement in contracts, etc.; limitation on disclosure requirements; intent, applicability of limitation.
(a) Any creditor, when extending credit with respect to a consumer credit transaction, other than under an open-end credit... |
https://law.justia.com/codes/alabama/title-5/chapter-19/section-5-19-7/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19 - Consumer Finance.›Section 5-19-7 - Right to Refinance Amount of Certain Scheduled Payments. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-7 - Right to Refinance Amount of Certain Scheduled Payments. | Section 5-19-7
Right to refinance amount of certain scheduled payments.
With respect to a consumer credit transaction, if any scheduled payment is more than one and one-half times as large as the average of earlier scheduled payments, the debtor has the right to refinance the amount of that payment at the time it is du... |
https://law.justia.com/codes/alabama/title-5/chapter-19/section-5-19-8/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19 - Consumer Finance.›Section 5-19-8 - Assignee of Seller Subject to Claims and Defenses of Buyer. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-8 - Assignee of Seller Subject to Claims and Defenses of Buyer. | Section 5-19-8
Assignee of seller subject to claims and defenses of buyer.
With respect to a consumer credit sale, an assignee of the rights of the seller is subject to all claims and defenses of the buyer against the seller arising out of the sale, notwithstanding an agreement to the contrary, but the assignee's liabi... |
https://law.justia.com/codes/alabama/title-5/chapter-19/section-5-19-9/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19 - Consumer Finance.›Section 5-19-9 - Application of Payments When Buyer Indebted to Same Seller for Two or More Consumer... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-9 - Application of Payments When Buyer Indebted to Same Seller for Two or More Consumer Credit Sales. | Section 5-19-9
Application of payments when buyer indebted to same seller for two or more consumer credit sales.
When the buyer is indebted to a particular seller for two or more consumer credit sales of goods and the goods which were the subject of two or more sales secure the buyer's total debt to the seller, the sec... |
https://law.justia.com/codes/alabama/title-5/chapter-19/section-5-19-10/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19 - Consumer Finance.›Section 5-19-10 - Contract Provisions for Attorney's Fees. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-10 - Contract Provisions for Attorney's Fees. | Section 5-19-10
Contract provisions for attorney's fees.
A contract for a consumer credit transaction with an original amount financed not exceeding three hundred dollars ($300) may not provide for payment by the debtor of attorney's fees after default by the debtor. A contract for a consumer credit transaction with an... |
https://law.justia.com/codes/alabama/title-5/chapter-19/section-5-19-12/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19 - Consumer Finance.›Section 5-19-12 - Buyer's Right to Cancel Home Solicitation Sale. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-12 - Buyer's Right to Cancel Home Solicitation Sale. | Section 5-19-12
Buyer's right to cancel home solicitation sale.
(a) A buyer has the right to cancel a home solicitation sale until midnight of the third business day following execution by the buyer of an agreement or offer to purchase, which notice is effective when delivered or when deposited in the mail properly add... |
https://law.justia.com/codes/alabama/title-5/chapter-19/section-5-19-13/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19 - Consumer Finance.›Section 5-19-13 - Repossession or Acceptance of Surrender of Goods Priced at One Thousand Dollars or... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-13 - Repossession or Acceptance of Surrender of Goods Priced at One Thousand Dollars or Less. | Section 5-19-13
Repossession or acceptance of surrender of goods priced at one thousand dollars or less.
If any seller or assignee of the seller repossesses or voluntarily accepts surrender of goods sold in which the seller or assignee has a security interest and the original cash price of the goods repossessed or surr... |
https://law.justia.com/codes/alabama/title-5/chapter-19/section-5-19-14/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19 - Consumer Finance.›Section 5-19-14 - Rebates or Discounts, etc., as Inducement for Aiding Sale to Another Prohibited. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-14 - Rebates or Discounts, etc., as Inducement for Aiding Sale to Another Prohibited. | Section 5-19-14
Rebates or discounts, etc., as inducement for aiding sale to another prohibited.
With respect to a consumer credit sale, the seller may not give or offer to give a rebate or discount, or otherwise pay or offer to pay value to the buyer, as an inducement for a sale in consideration of the buyer giving to... |
https://law.justia.com/codes/alabama/title-5/chapter-19/section-5-19-15/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19 - Consumer Finance.›Section 5-19-15 - Garnishment. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-15 - Garnishment. | Section 5-19-15
Garnishment.
Prior to entry of judgment on a consumer credit transaction, the creditor may not attach unpaid earnings of the debtor by garnishment. Notwithstanding the garnishment procedure otherwise applicable after judgment, with respect to a consumer credit transaction, the amount of unpaid earnings ... |
https://law.justia.com/codes/alabama/title-5/chapter-19/section-5-19-16/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19 - Consumer Finance.›Section 5-19-16 - Refusal by Court to Enforce Unconscionable Agreement. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-16 - Refusal by Court to Enforce Unconscionable Agreement. | Section 5-19-16
Refusal by court to enforce unconscionable agreement.
With respect to a consumer credit transaction, if the court as a matter of law finds the contract or any provision of the contract to have been unconscionable at the time it was made, the court may refuse to enforce the contract, or it may enforce th... |
https://law.justia.com/codes/alabama/title-5/chapter-19/section-5-19-17/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19 - Consumer Finance.›Section 5-19-17 - Inducing Obligation on More Than One Contract in Order to Obtain Higher Finance Ch... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-17 - Inducing Obligation on More Than One Contract in Order to Obtain Higher Finance Charge Prohibited; Consolidation of Existing Precomputed Consumer Credit Transaction Contract and Subsequent Precomputed... | Section 5-19-17
Inducing obligation on more than one contract in order to obtain higher finance charge prohibited; consolidation of existing precomputed consumer credit transaction contract and subsequent precomputed consumer credit transaction.
(a) No creditor shall induce or permit any person or any husband and wife,... |
https://law.justia.com/codes/alabama/title-5/chapter-19/section-5-19-18/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19 - Consumer Finance.›Section 5-19-18 - Installment Payment of Debt of One Thousand Dollars or Less. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-18 - Installment Payment of Debt of One Thousand Dollars or Less. | Section 5-19-18
Installment payment of debt of one thousand dollars or less.
With respect to consumer credit transactions, where the debt is payable in installments, not made pursuant to an open-end credit plan and in which the original amount financed is one thousand dollars ($1,000) or less, the debt shall be schedul... |
https://law.justia.com/codes/alabama/title-5/chapter-19/section-5-19-19/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19 - Consumer Finance.›Section 5-19-19 - Liabilities of Creditor Making Excess Finance Charge; Failure to Obtain License; D... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-19 - Liabilities of Creditor Making Excess Finance Charge; Failure to Obtain License; Damages for Deliberate Violation or Reckless Disregard; Written Notice of Violations; Oral Statements Not Admissible; F... | Section 5-19-19
Liabilities of creditor making excess finance charge; failure to obtain license; damages for deliberate violation or reckless disregard; written notice of violations; oral statements not admissible; fiduciary duty not created.
(a)(1)(i) Any creditor charging a finance charge in excess of the amount auth... |
https://law.justia.com/codes/alabama/title-5/chapter-19/section-5-19-20/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19 - Consumer Finance.›Section 5-19-20 - Insurance. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-20 - Insurance. | Section 5-19-20
Insurance.
(a) With respect to any consumer credit transaction, the creditor shall not require any insurance other than insurance against loss of or damage to any property in which the creditor is given a security interest and insurance insuring the lien of the creditor on the property which is collater... |
https://law.justia.com/codes/alabama/title-5/chapter-19/section-5-19-21/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19 - Consumer Finance.›Section 5-19-21 - Administrator Authorized to Make Rules and Regulations; Filing Notice of Intended... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-21 - Administrator Authorized to Make Rules and Regulations; Filing Notice of Intended Action With Legislative Reference Service; Transactions Entered Into After May 20, 1996. | Section 5-19-21
Administrator authorized to make rules and regulations; filing notice of intended action with Legislative Reference Service; transactions entered into after May 20, 1996.
(a) The administrator is authorized and empowered to promulgate rules and regulations and official interpretations (collectively "reg... |
https://law.justia.com/codes/alabama/title-5/chapter-19/section-5-19-22/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19 - Consumer Finance.›Section 5-19-22 - License to Engage in Business of Making Consumer Loans or Taking Assignments of Co... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-22 - License to Engage in Business of Making Consumer Loans or Taking Assignments of Consumer Credit Contracts - Required; Exceptions; Application; Investigation; Standards for Issuance; Hearing; Licensing... | Section 5-19-22
License to engage in business of making consumer loans or taking assignments of consumer credit contracts - Required; exceptions; application; investigation; standards for issuance; hearing; licensing under Small Loan Act; fees; participation in Nationwide Mortgage Licensing System and Registry.
(a) No ... |
https://law.justia.com/codes/alabama/title-5/chapter-19/section-5-19-23/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19 - Consumer Finance.›Section 5-19-23 - License to Engage in Business of Making Consumer Loans or Taking Assignments of Co... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-23 - License to Engage in Business of Making Consumer Loans or Taking Assignments of Consumer Credit Contracts - Revocation or Suspension. | Section 5-19-23
License to engage in business of making consumer loans or taking assignments of consumer credit contracts - Revocation or suspension.
(a) The administrator may issue to a person licensed under this chapter an order to show cause why his license should not be revoked or suspended for a period not in exce... |
https://law.justia.com/codes/alabama/title-5/chapter-19/section-5-19-24/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19 - Consumer Finance.›Section 5-19-24 - Examinations and Investigations of Licensees by Administrator. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-24 - Examinations and Investigations of Licensees by Administrator. | Section 5-19-24
Examinations and investigations of licensees by administrator.
(a) For the purpose of determining compliance with this chapter, the administrator may, at any reasonable time, cause an examination to be made at the licensee's place of business of the records and transactions of such licensee. As cost of ... |
https://law.justia.com/codes/alabama/title-5/chapter-19/section-5-19-25/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19 - Consumer Finance.›Section 5-19-25 - Cease and Desist Orders by Administrator; Penalties for Violation of This Chapter;... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-25 - Cease and Desist Orders by Administrator; Penalties for Violation of This Chapter; Right to Counsel at Hearing; Judicial Review. | Section 5-19-25
Cease and desist orders by administrator; penalties for violation of this chapter; right to counsel at hearing; judicial review.
After notice and hearing, the administrator may order a licensee under this chapter or a person acting on behalf of the licensee to cease and desist from engaging in violation... |
https://law.justia.com/codes/alabama/title-5/chapter-19/section-5-19-26/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19 - Consumer Finance.›Section 5-19-26 - Appeals to Circuit Court From Order of Administrator; Appeals From Decision of Cir... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-26 - Appeals to Circuit Court From Order of Administrator; Appeals From Decision of Circuit Court. | Section 5-19-26
Appeals to circuit court from order of administrator; appeals from decision of circuit court.
(a) Any interested party or intervener may appeal an order of the administrator to the Circuit Court of Montgomery County or to the circuit court of the county in which such party has its principal place of bus... |
https://law.justia.com/codes/alabama/title-5/chapter-19/section-5-19-29/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19 - Consumer Finance.›Section 5-19-29 - Injunctions. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-29 - Injunctions. | Section 5-19-29
Injunctions.
(a) The administrator may bring an action to restrain a creditor or a person acting in his behalf from engaging in any business subject to licensing under subsection (a) of Section 5-19-22 without first obtaining a license therefor as provided in Section 5-19-22 and a licensee or any person... |
https://law.justia.com/codes/alabama/title-5/chapter-19/section-5-19-30/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19 - Consumer Finance.›Section 5-19-30 - Penalty for Violations. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-30 - Penalty for Violations. | Section 5-19-30
Penalty for violations.
A creditor who willfully makes charges in excess of those permitted by Section 5-19-3 or a creditor who willfully engages in the business of making loans in violation of subsection (a) of Section 5-19-22, or both, is guilty of a misdemeanor and, upon conviction, shall be sentence... |
https://law.justia.com/codes/alabama/title-5/chapter-19/section-5-19-31/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19 - Consumer Finance.›Section 5-19-31 - Nonapplicability of Chapter to Certain Transactions; Certain Laws Not Repealed or... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-31 - Nonapplicability of Chapter to Certain Transactions; Certain Laws Not Repealed or Amended. | Section 5-19-31
Nonapplicability of chapter to certain transactions; certain laws not repealed or amended.
(a) The provisions of this chapter, except the provisions of subdivision (1) of Section 5-19-1 and Section 5-19-3, shall not apply (i) to any consumer credit transaction or other transaction involving an interest ... |
https://law.justia.com/codes/alabama/title-5/chapter-19/section-5-19-32/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19 - Consumer Finance.›Section 5-19-32 - Service Contracts. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-32 - Service Contracts. | Section 5-19-32
Service contracts.
Any creditor who extends credit with respect to a consumer credit sale, may sell or finance, or both, a service contract covering tangible goods which are the subject of the consumer credit sale. Any other person who was not the creditor with regard to the initial sale of the tangible... |
https://law.justia.com/codes/alabama/title-5/chapter-19/section-5-19-33/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19 - Consumer Finance.›Section 5-19-33 - Account Maintenance Fee. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-33 - Account Maintenance Fee. | Section 5-19-33
Account maintenance fee.
(a) In addition to other lawful charges permitted under various state or federal laws, except under open-end credit plans, a creditor may, if provided in the contract, charge an account maintenance fee of not more than three dollars ($3) for each month of the scheduled period of... |
https://law.justia.com/codes/alabama/title-5/chapter-19a/section-5-19a-1/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19A - Alabama Pawnshop Act.›Section 5-19A-1 - Short Title. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19A - Alabama Pawnshop Act. › Section 5-19A-1 - Short Title. | Section 5-19A-1
Short title.
This chapter shall be known and may be cited as the "Alabama Pawnshop Act."
(Acts 1992, No. 92-597, p. 1227, §1.) |
https://law.justia.com/codes/alabama/title-5/chapter-19a/section-5-19a-2/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19A - Alabama Pawnshop Act.›Section 5-19A-2 - Definitions. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19A - Alabama Pawnshop Act. › Section 5-19A-2 - Definitions. | Section 5-19A-2
Definitions.
The following words and phrases shall have the following meanings:
(1) APPROPRIATE LAW ENFORCEMENT AGENCY. The sheriff of each county in which the pawnbroker maintains an office, or the police chief of the municipality in which the pawnbroker maintains an office.
(2) ATTORNEY GENERAL. The A... |
https://law.justia.com/codes/alabama/title-5/chapter-19a/section-5-19a-3/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19A - Alabama Pawnshop Act.›Section 5-19A-3 - Pawnbroker to Enter on Pawn Ticket Record of Information. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19A - Alabama Pawnshop Act. › Section 5-19A-3 - Pawnbroker to Enter on Pawn Ticket Record of Information. | Section 5-19A-3
Pawnbroker to enter on pawn ticket record of information.
At the time of making the pawn or purchase transaction, the pawnbroker shall enter on the pawn ticket a record of the following information which shall be typed or written in ink and in the English language:
(1) A clear and accurate description o... |
https://law.justia.com/codes/alabama/title-5/chapter-19a/section-5-19a-4/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19A - Alabama Pawnshop Act.›Section 5-19A-4 - Certain Information to Be Printed on Pawn Tickets. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19A - Alabama Pawnshop Act. › Section 5-19A-4 - Certain Information to Be Printed on Pawn Tickets. | Section 5-19A-4
Certain information to be printed on pawn tickets.
The following information shall be printed on all pawn tickets:
(1) The statement that "Any personal property pledged to a pawnbroker within this state is subject to sale or disposal when there has been no payment made on the account for a period of 30 ... |
https://law.justia.com/codes/alabama/title-5/chapter-19a/section-5-19a-5/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19A - Alabama Pawnshop Act.›Section 5-19A-5 - Statement Verifying Pledgor Is Rightful Owner of Goods; Pawnbroker to Maintain Rec... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19A - Alabama Pawnshop Act. › Section 5-19A-5 - Statement Verifying Pledgor Is Rightful Owner of Goods; Pawnbroker to Maintain Record of Transactions; Goods to Be Maintained on Premises for Certain Number of Days Before Resale. | Section 5-19A-5
Statement verifying pledgor is rightful owner of goods; pawnbroker to maintain record of transactions; goods to be maintained on premises for certain number of days before resale.
(a) The pledgor or seller shall sign a statement verifying that the pledgor or seller is the rightful owner of the goods or ... |
https://law.justia.com/codes/alabama/title-5/chapter-19a/section-5-19a-6/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19A - Alabama Pawnshop Act.›Section 5-19A-6 - Redemption or Automatic Forfeiture of Pledged Goods. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19A - Alabama Pawnshop Act. › Section 5-19A-6 - Redemption or Automatic Forfeiture of Pledged Goods. | Section 5-19A-6
Redemption or automatic forfeiture of pledged goods.
A pledgor shall have no obligation to redeem pledged goods or make any payment on a pawn transaction. Pledged goods not redeemed within 30 days following the originally fixed maturity date shall be forfeited to the pawnbroker and absolute right, title... |
https://law.justia.com/codes/alabama/title-5/chapter-19a/section-5-19a-7/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19A - Alabama Pawnshop Act.›Section 5-19A-7 - Pawnshop Charge; Amounts in Excess of Pawnshop Charge. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19A - Alabama Pawnshop Act. › Section 5-19A-7 - Pawnshop Charge; Amounts in Excess of Pawnshop Charge. | Section 5-19A-7
Pawnshop charge; amounts in excess of pawnshop charge.
(a) A pawnbroker may contract for and receive a pawnshop charge in lieu of interest or other charges for all services, expenses, costs, and losses of every nature but not to exceed 25 percent of the principal amount, per month, advanced in the pawn ... |
https://law.justia.com/codes/alabama/title-5/chapter-19a/section-5-19a-8/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19A - Alabama Pawnshop Act.›Section 5-19A-8 - Certain Acts by Pawnbrokers Prohibited. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19A - Alabama Pawnshop Act. › Section 5-19A-8 - Certain Acts by Pawnbrokers Prohibited. | Section 5-19A-8
Certain acts by pawnbrokers prohibited.
A pawnbroker, any clerk, agent, or employee of a pawnbroker shall not do any of the following:
(1) Fail to make an entry of any material matter in the record book.
(2) Make any false entry therein.
(3) Falsify, obliterate, destroy, or remove from the place of busi... |
https://law.justia.com/codes/alabama/title-5/chapter-19a/section-5-19a-9/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19A - Alabama Pawnshop Act.›Section 5-19A-9 - Pledgor Presenting Pawn Ticket Entitled to Redeem or Repurchase Goods; Lost or Dam... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19A - Alabama Pawnshop Act. › Section 5-19A-9 - Pledgor Presenting Pawn Ticket Entitled to Redeem or Repurchase Goods; Lost or Damaged Pledged Goods in Possession of Pawnbroker; Lost, Destroyed, or Stolen Pawn Ticket. | Section 5-19A-9
Pledgor presenting pawn ticket entitled to redeem or repurchase goods; lost or damaged pledged goods in possession of pawnbroker; lost, destroyed, or stolen pawn ticket.
(a) Any person properly identified as pledgor or as authorized representative of the pledgor and presenting a pawn ticket to the pawnb... |
https://law.justia.com/codes/alabama/title-5/chapter-19a/section-5-19a-10/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19A - Alabama Pawnshop Act.›Section 5-19A-10 - Liens for Pawnbrokers; Pledged Goods Not Redeemed on or Before Maturity Date Fixe... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19A - Alabama Pawnshop Act. › Section 5-19A-10 - Liens for Pawnbrokers; Pledged Goods Not Redeemed on or Before Maturity Date Fixed in Ticket. | Section 5-19A-10
Liens for pawnbrokers; pledged goods not redeemed on or before maturity date fixed in ticket.
(a) A pawnbroker shall have a lien on the pledged goods pawned for the money advanced and the pawnshop charge owed, but not for other debts due to the pawnbroker, subject to the rights of other persons who hav... |
https://law.justia.com/codes/alabama/title-5/chapter-19a/section-5-19a-11/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19A - Alabama Pawnshop Act.›Section 5-19A-11 - Licensing Generally; Annual Fee; Temporary License; When New License Not Required... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19A - Alabama Pawnshop Act. › Section 5-19A-11 - Licensing Generally; Annual Fee; Temporary License; When New License Not Required Upon Change in Ownership. | Section 5-19A-11
Licensing generally; annual fee; temporary license; when new license not required upon change in ownership.
(a) A person may not engage in business as a pawnbroker unless the person has a valid license authorizing engagement in the business. A separate license is required for each place of business. Th... |
https://law.justia.com/codes/alabama/title-5/chapter-19a/section-5-19a-12/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19A - Alabama Pawnshop Act.›Section 5-19A-12 - Eligibility for Pawnshop License; Application Fee. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19A - Alabama Pawnshop Act. › Section 5-19A-12 - Eligibility for Pawnshop License; Application Fee. | Section 5-19A-12
Eligibility for pawnshop license; application fee.
(a) To be eligible for a pawnshop license, an applicant shall:
(1) Operate lawfully and fairly within the purposes of this chapter.
(2) Not have been convicted of a felony within the last 10 years or not be acting as a beneficial owner for someone who ... |
https://law.justia.com/codes/alabama/title-5/chapter-19a/section-5-19a-13/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19A - Alabama Pawnshop Act.›Section 5-19A-13 - Suspension or Revocation of License; Notice and Hearing; Surrender of License. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19A - Alabama Pawnshop Act. › Section 5-19A-13 - Suspension or Revocation of License; Notice and Hearing; Surrender of License. | Section 5-19A-13
Suspension or revocation of license; notice and hearing; surrender of license.
(a) The supervisor may, after notice and hearing, suspend or revoke any license upon a finding that:
(1) The licensee, either knowingly or without the exercise of due care to prevent the same, has violated this chapter.
(2) ... |
https://law.justia.com/codes/alabama/title-5/chapter-19a/section-5-19a-14/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19A - Alabama Pawnshop Act.›Section 5-19A-14 - Application for New Pawnshop License, Transfer of Existing License, Etc. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19A - Alabama Pawnshop Act. › Section 5-19A-14 - Application for New Pawnshop License, Transfer of Existing License, Etc. | Section 5-19A-14
Application for new pawnshop license, transfer of existing license, etc.
(a) An application for a new pawnshop license, the transfer of an existing pawnshop license, or the approval of a change in the ownership of a licensed pawnshop shall be under oath and shall state the full name and place of reside... |
https://law.justia.com/codes/alabama/title-5/chapter-19a/section-5-19a-15/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19A - Alabama Pawnshop Act.›Section 5-19A-15 - No Confiscation of Property Pledged to Pawnbroker if Property May Be Put on Seven... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19A - Alabama Pawnshop Act. › Section 5-19A-15 - No Confiscation of Property Pledged to Pawnbroker if Property May Be Put on Seven-Day Hold; When Property May Be Placed on Hold. | Section 5-19A-15
No confiscation of property pledged to pawnbroker if property may be put on seven-day hold; when property may be placed on hold.
(a) No pledged or purchased goods may be confiscated if the property pledged to, or purchased by, a pawnbroker may be put on a seven-day hold by the authorized law enforcemen... |
https://law.justia.com/codes/alabama/title-5/chapter-19a/section-5-19a-16/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19A - Alabama Pawnshop Act.›Section 5-19A-16 - Penalties for Failure to Secure License. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19A - Alabama Pawnshop Act. › Section 5-19A-16 - Penalties for Failure to Secure License. | Section 5-19A-16
Penalties for failure to secure license.
Any person who engages in the business of operating a pawnshop without first securing the license prescribed by this chapter shall be guilty of a misdemeanor and, upon conviction thereof, shall be punished by a fine not in excess of $1,000.00 or by confinement i... |
https://law.justia.com/codes/alabama/title-5/chapter-19a/section-5-19a-17/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19A - Alabama Pawnshop Act.›Section 5-19A-17 - Penalties for Willful Violation of Chapter or for False Entry in Required Records... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19A - Alabama Pawnshop Act. › Section 5-19A-17 - Penalties for Willful Violation of Chapter or for False Entry in Required Records; Compliance Enforced by Supervisor; Order Requiring Person to Refrain From Violation. | Section 5-19A-17
Penalties for willful violation of chapter or for false entry in required records; compliance enforced by supervisor; order requiring person to refrain from violation.
(a) In addition to any other penalty which may be applicable, any licensee who willfully violates this chapter or who willfully makes a... |
https://law.justia.com/codes/alabama/title-5/chapter-19a/section-5-19a-18/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19A - Alabama Pawnshop Act.›Section 5-19A-18 - Department of Public Safety to Supply Available Arrest and Conviction Records. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19A - Alabama Pawnshop Act. › Section 5-19A-18 - Department of Public Safety to Supply Available Arrest and Conviction Records. | Section 5-19A-18
Department of Public Safety to supply available arrest and conviction records.
The Department of Public Safety on request shall supply to the supervisor any available arrest and conviction records of an individual applying for or holding a license under this chapter.
(Acts 1992, No. 92-597, p. 1227, §1... |
https://law.justia.com/codes/alabama/title-5/chapter-19a/section-5-19a-19/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19A - Alabama Pawnshop Act.›Section 5-19A-19 - Ordinances to Be in Compliance With but Not More Restrictive Than Chapter. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19A - Alabama Pawnshop Act. › Section 5-19A-19 - Ordinances to Be in Compliance With but Not More Restrictive Than Chapter. | Section 5-19A-19
Ordinances to be in compliance with but not more restrictive than chapter.
Any municipality may enact ordinances which are in compliance with but not more restrictive than this chapter. Any existing or future order, ordinances, or regulation which conflicts with this provision shall be null and void.
(... |
https://law.justia.com/codes/alabama/title-5/chapter-19a/section-5-19a-20/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 19A - Alabama Pawnshop Act.›Section 5-19A-20 - Pawnbrokers to Be Subject to Licensing and Issuance Fees Under Chapter 12 of Titl... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19A - Alabama Pawnshop Act. › Section 5-19A-20 - Pawnbrokers to Be Subject to Licensing and Issuance Fees Under Chapter 12 of Title 40; Chapter Not to Repeal Uniform Commercial Code. | Section 5-19A-20
Pawnbrokers to be subject to licensing and issuance fees under Chapter 12 of Title 40; chapter not to repeal Uniform Commercial Code.
Notwithstanding the foregoing, all persons currently doing business as pawnbrokers and those seeking licensure under this chapter, shall be subject to the applicable lic... |
https://law.justia.com/codes/alabama/title-5/chapter-20/section-5-20-2/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 20 - Alabama Credit Card Act.›Section 5-20-2 - Short Title. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 20 - Alabama Credit Card Act. › Section 5-20-2 - Short Title. | Section 5-20-2
Short title.
This chapter shall be known and may be cited as the "Alabama Credit Card Act."
(Acts 1988, No. 88-85, p. 104, §1.) |
https://law.justia.com/codes/alabama/title-5/chapter-20/section-5-20-3/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 20 - Alabama Credit Card Act.›Section 5-20-3 - Definitions. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 20 - Alabama Credit Card Act. › Section 5-20-3 - Definitions. | Section 5-20-3
Definitions.
Notwithstanding any other provision of law, for the purposes of this chapter, the following terms shall have the meanings prescribed by this section:
(1) ALABAMA BANK. A bank which is organized under the laws of this state or of the United States and which has its principal place of business... |
https://law.justia.com/codes/alabama/title-5/chapter-20/section-5-20-4/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 20 - Alabama Credit Card Act.›Section 5-20-4 - Establishment or Acquisition of a Credit Card Bank. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 20 - Alabama Credit Card Act. › Section 5-20-4 - Establishment or Acquisition of a Credit Card Bank. | Section 5-20-4
Establishment or acquisition of a credit card bank.
Subject to the provisions of this chapter and to the prior approval of the superintendent, any bank holding company, bank holding company subsidiary, domestic lender or foreign lender may, either singly or jointly with other bank holding companies, bank... |
https://law.justia.com/codes/alabama/title-5/chapter-20/section-5-20-5/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 20 - Alabama Credit Card Act.›Section 5-20-5 - Charges, Rates, and Fees. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 20 - Alabama Credit Card Act. › Section 5-20-5 - Charges, Rates, and Fees. | Section 5-20-5
Charges, rates and fees.
Notwithstanding the provisions of any other law, in connection with a credit card account, any domestic lender or any credit card bank may provide in the credit card agreement such charges for cash advances, charges for extensions of credit in excess of pre-established limits, la... |
https://law.justia.com/codes/alabama/title-5/chapter-20/section-5-20-6/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 20 - Alabama Credit Card Act.›Section 5-20-6 - Application for Approval; Filing Fee. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 20 - Alabama Credit Card Act. › Section 5-20-6 - Application for Approval; Filing Fee. | Section 5-20-6
Application for approval; filing fee.
Any bank holding company, bank holding company subsidiary, domestic lender or foreign lender proposing to establish or acquire a credit card bank pursuant to this chapter shall file an application with the superintendent for prior approval of such establishment or ac... |
https://law.justia.com/codes/alabama/title-5/chapter-20/section-5-20-7/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 20 - Alabama Credit Card Act.›Section 5-20-7 - Supervision and Enforcement. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 20 - Alabama Credit Card Act. › Section 5-20-7 - Supervision and Enforcement. | Section 5-20-7
Supervision and enforcement.
(a) All credit card banks organized under the laws of this state shall be subject to the supervision, regulation, and examination of the superintendent and the superintendent shall have all enforcement powers with respect thereto as are provided in this title.
(b) In the even... |
https://law.justia.com/codes/alabama/title-5/chapter-20/section-5-20-8/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 20 - Alabama Credit Card Act.›Section 5-20-8 - Applicable Law. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 20 - Alabama Credit Card Act. › Section 5-20-8 - Applicable Law. | Section 5-20-8
Applicable law.
(a) A credit card bank shall be subject to all provisions of this title except to the extent any rights, powers, privileges, provisions or limitations of this title are inconsistent with the rights, powers, privileges, provisions or limitations of this chapter.
(b) A credit card bank shal... |
https://law.justia.com/codes/alabama/title-5/chapter-20/section-5-20-9/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 20 - Alabama Credit Card Act.›Section 5-20-9 - Severability. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 20 - Alabama Credit Card Act. › Section 5-20-9 - Severability. | Section 5-20-9
Severability.
If any provision or clause of this chapter, including without limitation Section 5-20-4(8), or any application thereof to any entity or circumstances is held invalid, such invalidity shall not affect the other provisions or applications of the chapter which can be given effect without the i... |
https://law.justia.com/codes/alabama/title-5/chapter-20/section-5-20-10/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 20 - Alabama Credit Card Act.›Section 5-20-10 - Construction With Other Laws; Repeal of Conflicting Laws. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 20 - Alabama Credit Card Act. › Section 5-20-10 - Construction With Other Laws; Repeal of Conflicting Laws. | Section 5-20-10
Construction with other laws; repeal of conflicting laws.
To the extent other laws or parts of laws, whether general, local, or general laws of local application, conflict with this chapter, such other laws or parts of laws are hereby amended or repealed to the extent of such conflict as necessary to pe... |
https://law.justia.com/codes/alabama/title-5/chapter-21/section-5-21-1/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 21 - George Wallace, jr., Plan for Linked Deposits of 1988.›Section 5-21-1 - Short Title. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 21 - George Wallace, jr., Plan for Linked Deposits of 1988. › Section 5-21-1 - Short Title. | Section 5-21-1
Short title.
Repealed by Act 2007-397, p. 790, §2, effective January 1, 2008.
(Acts 1988, No. 88-162, p. 256, §1.) |
https://law.justia.com/codes/alabama/title-5/chapter-21/section-5-21-2/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 21 - George Wallace, jr., Plan for Linked Deposits of 1988.›Section 5-21-2 - Legislative Purpose. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 21 - George Wallace, jr., Plan for Linked Deposits of 1988. › Section 5-21-2 - Legislative Purpose. | Section 5-21-2
Legislative purpose.
Repealed by Act 2007-397, p. 790, §2, effective January 1, 2008.
(Acts 1988, No. 88-162, p. 256, §2; Acts 1991, No. 91-720, p. 1399, §1; Acts 1993, No. 93-351, p. 540, §1; Acts 1995, No. 95-257, p. 430, §1.) |
https://law.justia.com/codes/alabama/title-5/chapter-21/section-5-21-3/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 21 - George Wallace, jr., Plan for Linked Deposits of 1988.›Section 5-21-3 - Definitions. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 21 - George Wallace, jr., Plan for Linked Deposits of 1988. › Section 5-21-3 - Definitions. | Section 5-21-3
Definitions.
Repealed by Act 2007-397, p. 790, §2, effective January 1, 2008.
(Acts 1988, No. 88-162, p. 256, §3; Acts 1991, No. 91-720, p. 1399, §1; Acts 1993, No. 93-351, p. 540, §1; Acts 1995, No. 95-257, p. 430, §1; Act 99-659, 2nd Sp. Sess., p. 113, §1.) |
https://law.justia.com/codes/alabama/title-5/chapter-21/section-5-21-4/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 21 - George Wallace, jr., Plan for Linked Deposits of 1988.›Section 5-21-4 - Creation of Plan; Term and Return Rate of Deposits. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 21 - George Wallace, jr., Plan for Linked Deposits of 1988. › Section 5-21-4 - Creation of Plan; Term and Return Rate of Deposits. | Section 5-21-4
Creation of plan; term and return rate of deposits.
Repealed by Act 2007-397, p. 790, §2, effective January 1, 2008.
(Acts 1988, No. 88-162, p. 256, §4; Acts 1989, No. 89-882, p. 1780, §1; Acts 1991, No. 91-720, p. 1399, §1; Acts 1993, No. 93-351, p. 540, §1; Acts 1995, No. 95-257, p. 430, §1; Act 99-659... |
https://law.justia.com/codes/alabama/title-5/chapter-21/section-5-21-5/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 21 - George Wallace, jr., Plan for Linked Deposits of 1988.›Section 5-21-5 - Amounts of Loans; Eligibility. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 21 - George Wallace, jr., Plan for Linked Deposits of 1988. › Section 5-21-5 - Amounts of Loans; Eligibility. | Section 5-21-5
Amounts of loans; eligibility.
Repealed by Act 2007-397, p. 790, §2, effective January 1, 2008.
(Acts 1988, No. 88-162, p. 256, §5; Acts 1995, No. 95-257, p. 430, §1; Act 99-659, 2nd Sp. Sess., p. 113, §1.) |
https://law.justia.com/codes/alabama/title-5/chapter-21/section-5-21-6/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 21 - George Wallace, jr., Plan for Linked Deposits of 1988.›Section 5-21-6 - Restriction of Fees or Charges. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 21 - George Wallace, jr., Plan for Linked Deposits of 1988. › Section 5-21-6 - Restriction of Fees or Charges. | Section 5-21-6
Restriction of fees or charges.
Repealed by Act 2007-397, p. 790, §2, effective January 1, 2008.
(Acts 1988, No. 88-162, p. 256, §6; Act 99-659, 2nd Sp. Sess., p. 113, §1.) |
https://law.justia.com/codes/alabama/title-5/chapter-21/section-5-21-7/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 21 - George Wallace, jr., Plan for Linked Deposits of 1988.›Section 5-21-7 - Interest Rates. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 21 - George Wallace, jr., Plan for Linked Deposits of 1988. › Section 5-21-7 - Interest Rates. | Section 5-21-7
Interest rates.
Repealed by Act 2007-397, §2, effective January 1, 2008.
(Acts 1988, No. 88-162, p. 256, §7; Acts 1995, No. 95-257, p. 430, §1; Act 99-659, 2nd Sp. Sess., p. 113, §1; Act 2004-486, §1.) |
https://law.justia.com/codes/alabama/title-5/chapter-21/section-5-21-8/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 21 - George Wallace, jr., Plan for Linked Deposits of 1988.›Section 5-21-8 - Agreements Between State and Eligible Lending Institutions in Writing; Specific Ter... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 21 - George Wallace, jr., Plan for Linked Deposits of 1988. › Section 5-21-8 - Agreements Between State and Eligible Lending Institutions in Writing; Specific Terms, Conditions, etc., Included. | Section 5-21-8
Agreements between state and eligible lending institutions in writing; specific terms, conditions, etc., included.
Repealed by Act 2007-397, p. 790, §2, effective January 1, 2008.
(Acts 1988, No. 88-162, p. 256, §8.) |
https://law.justia.com/codes/alabama/title-5/chapter-21/section-5-21-9/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 21 - George Wallace, jr., Plan for Linked Deposits of 1988.›Section 5-21-9 - Participation in Plan; Application. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 21 - George Wallace, jr., Plan for Linked Deposits of 1988. › Section 5-21-9 - Participation in Plan; Application. | Section 5-21-9
Participation in plan; application.
Repealed by Act 2007-397, p. 790, §2, effective January 1, 2008.
(Acts 1988, No. 88-162, p. 256, §9; Acts 1993, No. 93-351, p. 540, §1; Acts 1995, No. 95-257, p. 430, §1; Act 99-659, 2nd Sp. Sess., p. 113, §1.) |
https://law.justia.com/codes/alabama/title-5/chapter-21/section-5-21-10/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 21 - George Wallace, jr., Plan for Linked Deposits of 1988.›Section 5-21-10 - Annual Report. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 21 - George Wallace, jr., Plan for Linked Deposits of 1988. › Section 5-21-10 - Annual Report. | Section 5-21-10
Annual report.
Repealed by Act 2007-397, p. 790, §2, effective January 1, 2008.
(Acts 1988, No. 88-162, p. 256, §10.) |
https://law.justia.com/codes/alabama/title-5/chapter-21/section-5-21-11/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 21 - George Wallace, jr., Plan for Linked Deposits of 1988.›Section 5-21-11 - Effective Date; Termination Date. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 21 - George Wallace, jr., Plan for Linked Deposits of 1988. › Section 5-21-11 - Effective Date; Termination Date. | Section 5-21-11
Effective date; termination date.
Repealed by Act 2007-397, p. 790, §2, effective January 1, 2008.
(Acts 1988, No. 88-162, p. 256, §13; Acts 1991, No. 91-720, p. 1399, §1; Acts 1995, No. 95-257, p. 430, §1; Act 99-659, 2nd Sp. Sess., p. 113, §1; Act 2003-304, p. 722, §1; Act 2006-416, p. 1032, §1.) |
https://law.justia.com/codes/alabama/title-5/chapter-22/section-5-22-1/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 22 - Reports of Transactions Involving Currency.›Section 5-22-1 - Purpose. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 22 - Reports of Transactions Involving Currency. › Section 5-22-1 - Purpose. | Section 5-22-1
Purpose.
It is the purpose of this chapter to require submission to the State Revenue Department of certain reports and records of transactions involving United States currency where such reports and records have a high degree of usefulness in criminal, tax, or regulatory investigations or proceedings.
(... |
https://law.justia.com/codes/alabama/title-5/chapter-22/section-5-22-2/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 22 - Reports of Transactions Involving Currency.›Section 5-22-2 - Definitions. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 22 - Reports of Transactions Involving Currency. › Section 5-22-2 - Definitions. | Section 5-22-2
Definitions.
For the purpose of this chapter, the following terms shall have the meanings ascribed by this section:
(1) CURRENCY. Currency and coin of the United States.
(2) FINANCIAL INSTITUTION. Any national bank or banking association, state bank or banking association, industrial savings bank, trust ... |
https://law.justia.com/codes/alabama/title-5/chapter-22/section-5-22-3/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 22 - Reports of Transactions Involving Currency.›Section 5-22-3 - Record of Currency Transactions; Report on Written Request; When No Longer Required... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 22 - Reports of Transactions Involving Currency. › Section 5-22-3 - Record of Currency Transactions; Report on Written Request; When No Longer Required; Compliance With Federal Law Sufficient; Multiple Transactions; Disclosures. | Section 5-22-3
Record of currency transactions; report on written request; when no longer required; compliance with federal law sufficient; multiple transactions; disclosures.
(a) Every financial institution shall keep a record of each of its currency transactions as required by 31 U.S.C. §5313 and regulations pursuant... |
https://law.justia.com/codes/alabama/title-5/chapter-22/section-5-22-4/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 22 - Reports of Transactions Involving Currency.›Section 5-22-4 - Effect of Federal Exemptions. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 22 - Reports of Transactions Involving Currency. › Section 5-22-4 - Effect of Federal Exemptions. | Section 5-22-4
Effect of federal exemptions.
All exemptions from recordkeeping and reporting requirements under the federal monetary transaction records and reports requirement shall be available to financial institutions under this chapter. This chapter shall not require any recordkeeping or reporting of currency tran... |
https://law.justia.com/codes/alabama/title-5/chapter-22/section-5-22-5/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 22 - Reports of Transactions Involving Currency.›Section 5-22-5 - When Reports May Be Disclosed. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 22 - Reports of Transactions Involving Currency. › Section 5-22-5 - When Reports May Be Disclosed. | Section 5-22-5
When reports may be disclosed.
Other than as provided for in Section 5-22-3, the State Revenue Department shall not provide to any person any report filed under Section 5-22-3 or any information contained therein except:
(1) Pursuant to a lawful subpoena or subpoena duces tecum issued by a state attorney... |
https://law.justia.com/codes/alabama/title-5/chapter-22/section-5-22-6/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 22 - Reports of Transactions Involving Currency.›Section 5-22-6 - Criminal Penalties. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 22 - Reports of Transactions Involving Currency. › Section 5-22-6 - Criminal Penalties. | Section 5-22-6
Criminal penalties.
(a) Except as provided in subsection (b) of this section, a person who willfully violates any provision of Section 5-22-3 shall in addition to other penalties provided by law, be guilty of a misdemeanor and, upon conviction thereof, shall be punished by a fine of not more than $500.00... |
https://law.justia.com/codes/alabama/title-5/chapter-22/section-5-22-7/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 22 - Reports of Transactions Involving Currency.›Section 5-22-7 - Immunity From Liability. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 22 - Reports of Transactions Involving Currency. › Section 5-22-7 - Immunity From Liability. | Section 5-22-7
Immunity from liability.
Except as provided in Section 5-22-6, no financial institution, or director, officer, employee or agent thereof, shall be civilly or criminally liable to any person for acts or omissions done in connection with the keeping or maintaining of records and providing of reports or dis... |
https://law.justia.com/codes/alabama/title-5/chapter-22/section-5-22-8/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 22 - Reports of Transactions Involving Currency.›Section 5-22-8 - Recoupment of Costs Not Authorized. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 22 - Reports of Transactions Involving Currency. › Section 5-22-8 - Recoupment of Costs Not Authorized. | Section 5-22-8
Recoupment of costs not authorized.
No part of the cost or expense incurred by the State Revenue Department in recording, maintaining, disposing of or otherwise dealing with the information received by the State Revenue Department pursuant to the provisions of this chapter or otherwise incurred by the St... |
https://law.justia.com/codes/alabama/title-5/chapter-23/section-5-23-1/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 23 - State Sponsorship of Financial Institution Credit Card.›Section 5-23-1 - Definitions. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 23 - State Sponsorship of Financial Institution Credit Card. › Section 5-23-1 - Definitions. | Section 5-23-1
Definitions.
The following terms shall have the meanings ascribed to them unless the context clearly indicates otherwise:
(1) TREASURER. The State Treasurer of Alabama.
(2) FINANCIAL INSTITUTION. Any bank, savings and loans association or credit union operating in Alabama which is chartered under federal... |
https://law.justia.com/codes/alabama/title-5/chapter-23/section-5-23-2/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 23 - State Sponsorship of Financial Institution Credit Card.›Section 5-23-2 - State Participation in Financial Institution Credit Card Program; Contact With Fina... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 23 - State Sponsorship of Financial Institution Credit Card. › Section 5-23-2 - State Participation in Financial Institution Credit Card Program; Contact With Financial Institutions. | Section 5-23-2
State participation in financial institution credit card program; contact with financial institutions.
The State Treasurer is hereby authorized to participate in a financial institution credit card program for the benefit of the state. Within 180 days of April 19, 1990, the Treasurer shall contact as man... |
https://law.justia.com/codes/alabama/title-5/chapter-23/section-5-23-3/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 23 - State Sponsorship of Financial Institution Credit Card.›Section 5-23-3 - Negotiation of State's Fee; Contracts With Financial Institutions; Use of State Sea... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 23 - State Sponsorship of Financial Institution Credit Card. › Section 5-23-3 - Negotiation of State's Fee; Contracts With Financial Institutions; Use of State Seal and Insignia. | Section 5-23-3
Negotiation of state's fee; contracts with financial institutions; use of state seal and insignia.
(a) If the Treasurer determines that the state may be a sponsoring entity for a financial institution credit card, he shall negotiate and contract for the most favorable rate of return for the state's fee b... |
https://law.justia.com/codes/alabama/title-5/chapter-23/section-5-23-4/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 23 - State Sponsorship of Financial Institution Credit Card.›Section 5-23-4 - Proceeds. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 23 - State Sponsorship of Financial Institution Credit Card. › Section 5-23-4 - Proceeds. | Section 5-23-4
Proceeds.
The net proceeds of the state fees shall be transmitted to the state Comptroller and distributed as follows:
(1) Seventy-five percent to the Foundation for Local Schools as provided in Chapter 26C of Title 16, to be allocated to the credit of local school systems.
(2) Twenty-five percent to the... |
https://law.justia.com/codes/alabama/title-5/chapter-23/section-5-23-5/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 23 - State Sponsorship of Financial Institution Credit Card.›Section 5-23-5 - Rules and Regulations. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 23 - State Sponsorship of Financial Institution Credit Card. › Section 5-23-5 - Rules and Regulations. | Section 5-23-5
Rules and regulations.
The State Treasurer is authorized to adopt such rules and regulations as may be necessary to implement the Alabama state-sponsored credit card program. The rules may include, without limitation, provisions governing the procedures for contacting financial institutions to determine ... |
https://law.justia.com/codes/alabama/title-5/chapter-23/section-5-23-6/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 23 - State Sponsorship of Financial Institution Credit Card.›Section 5-23-6 - Disclosure of Information. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 23 - State Sponsorship of Financial Institution Credit Card. › Section 5-23-6 - Disclosure of Information. | Section 5-23-6
Disclosure of information.
It shall be legal and permissible for the financial institution to request and receive from the state Comptroller a listing of all members of the Teachers' Retirement System, the Employees' Retirement System, and the Judicial Retirement System, including the names and addresses... |
https://law.justia.com/codes/alabama/title-5/chapter-24/article-1/section-5-24-1/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 24 - Uniform Multiple-Person Accounts Act.›Article 1 - Definitions and General Provisions.›Section 5-24-1 - Definitions. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 24 - Uniform Multiple-Person Accounts Act. › Article 1 - Definitions and General Provisions. › Section 5-24-1 - Definitions. | Section 5-24-1
Definitions.
In this chapter:
(1) ACCOUNT means a contract of deposit between a depositor and a financial institution, and includes a checking account, savings account, time deposit, certificate of deposit, and share account.
(2) AGENT means a person authorized to make account transactions for a party.
(... |
https://law.justia.com/codes/alabama/title-5/chapter-24/article-1/section-5-24-2/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 24 - Uniform Multiple-Person Accounts Act.›Article 1 - Definitions and General Provisions.›Section 5-24-2 - Scope of Chapter. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 24 - Uniform Multiple-Person Accounts Act. › Article 1 - Definitions and General Provisions. › Section 5-24-2 - Scope of Chapter. | Section 5-24-2
Scope of chapter.
This chapter does not apply to (1) an account established for a corporation, partnership, joint venture, other organization for a business purpose, an unincorporated association, or charitable or civic organization, (2) an account controlled by one or more persons as an agent or trustee... |
https://law.justia.com/codes/alabama/title-5/chapter-24/article-1/section-5-24-3/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 24 - Uniform Multiple-Person Accounts Act.›Article 1 - Definitions and General Provisions.›Section 5-24-3 - Types of Account; Existing Accounts. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 24 - Uniform Multiple-Person Accounts Act. › Article 1 - Definitions and General Provisions. › Section 5-24-3 - Types of Account; Existing Accounts. | Section 5-24-3
Types of account; existing accounts.
(a) An account may be for a single party or multiple parties. A multiple-party account may be with or without a right of survivorship between the parties. Subject to subsection (c) of Section 5-24-12, either a single-party account or a multiple-party account may have ... |
https://law.justia.com/codes/alabama/title-5/chapter-24/article-1/section-5-24-4/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 24 - Uniform Multiple-Person Accounts Act.›Article 1 - Definitions and General Provisions.›Section 5-24-4 - Forms. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 24 - Uniform Multiple-Person Accounts Act. › Article 1 - Definitions and General Provisions. › Section 5-24-4 - Forms. | Section 5-24-4
Forms.
(a) A contract of deposit may contain provisions in substantially the following form to establish the type of account provided, and the account shall be governed by the provisions of this chapter applicable to an account of that type:
UNIFORM SINGLE- OR MULTIPLE-PARTY
ACCOUNT FORM
PARTIES [Name On... |
https://law.justia.com/codes/alabama/title-5/chapter-24/article-1/section-5-24-5/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 24 - Uniform Multiple-Person Accounts Act.›Article 1 - Definitions and General Provisions.›Section 5-24-5 - Designation of Agent. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 24 - Uniform Multiple-Person Accounts Act. › Article 1 - Definitions and General Provisions. › Section 5-24-5 - Designation of Agent. | Section 5-24-5
Designation of agent.
(a) By a signed writing, a party may designate one or more persons other than a party as his or her agent on an account. Unless the terms of the agency designation provide otherwise, the agency designation may be revoked or amended only by the party making the designation or by a gu... |
https://law.justia.com/codes/alabama/title-5/chapter-24/article-1/section-5-24-6/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 24 - Uniform Multiple-Person Accounts Act.›Article 1 - Definitions and General Provisions.›Section 5-24-6 - Applicability of Chapter. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 24 - Uniform Multiple-Person Accounts Act. › Article 1 - Definitions and General Provisions. › Section 5-24-6 - Applicability of Chapter. | Section 5-24-6
Applicability of chapter.
The provisions of Article 2 concerning beneficial ownership as between parties or as between parties and beneficiaries apply only to controversies between those persons and their creditors and other successors, and do not apply to the right of those persons to payment as determi... |
https://law.justia.com/codes/alabama/title-5/chapter-24/article-2/section-5-24-11/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 24 - Uniform Multiple-Person Accounts Act.›Article 2 - Ownership as Between Parties and Others.›Section 5-24-11 - Ownership During Lifetime. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 24 - Uniform Multiple-Person Accounts Act. › Article 2 - Ownership as Between Parties and Others. › Section 5-24-11 - Ownership During Lifetime. | Section 5-24-11
Ownership during lifetime.
(a) In this section, "net contribution" of a party means the sum of all deposits to an account made by or for the party, less all payments from the account made to or for the party which have not been paid to or applied to the use of another party and a proportionate share of ... |
https://law.justia.com/codes/alabama/title-5/chapter-24/article-2/section-5-24-12/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 24 - Uniform Multiple-Person Accounts Act.›Article 2 - Ownership as Between Parties and Others.›Section 5-24-12 - Rights at Death. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 24 - Uniform Multiple-Person Accounts Act. › Article 2 - Ownership as Between Parties and Others. › Section 5-24-12 - Rights at Death. | Section 5-24-12
Rights at death.
(a) Except as otherwise provided in this chapter, on death of a party sums on deposit in a multiple-party account belong to the surviving party or parties. If two or more parties survive and one is the surviving spouse of the decedent, the amount to which the decedent, immediately befor... |
https://law.justia.com/codes/alabama/title-5/chapter-24/article-2/section-5-24-13/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 24 - Uniform Multiple-Person Accounts Act.›Article 2 - Ownership as Between Parties and Others.›Section 5-24-13 - Alteration of Rights. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 24 - Uniform Multiple-Person Accounts Act. › Article 2 - Ownership as Between Parties and Others. › Section 5-24-13 - Alteration of Rights. | Section 5-24-13
Alteration of rights.
(a) Rights at death under Section 5-24-12 are determined by the type of account at the death of a party. The type of account may be altered by written notice given by a party to the financial institution to change the type of account or to stop or vary payment under the terms of th... |
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