SB330
175097-1:n:03/07/2016:PMG/th LRS2016-916 SB330 By Senator Ward RFD Banking and Insurance Rd 1 08-MAR-16 SYNOPSIS: Under existing law, lenders of $1,000 or less are licensed and regulated under the Alabama Small Loan Act. This bill would authorize non-bank lenders to issue short-term unsecured loans, known as flex loans. This bill would provide for the licensure and regulation of lenders of flex loans by the State Banking Department. This bill would establish the maximum interest rate and maximum duration of a flex loan and provide for fees that may be charged to a customer. This bill would set qualifications, including financial guarantees, for lenders and provide civil penalties for violations by lenders. This bill would also authorize the State Banking Department to enforce the provisions of this act and promulgate rules. A BILL TO BE ENTITLED AN ACT Relating to short-term loans; to authorize non-bank lenders to issue short-term unsecured loans, known as flex loans; to provide for...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/SB330.htm - 39K - Match Info - Similar pages
HB321
174083-2:n:02/24/2016:KMS*/cj LRS2016-633R1 HB321 By Representatives Faust, Shiver, Sessions, Gaston, Baker, McMillan, Bracy, Buskey, Pringle, Williams (JW), Wilcox, Davis, Clarke, Drummond and Jackson RFD Insurance Rd 1 25-FEB-16 SYNOPSIS: Under existing law, all insurers authorized and writing property insurance in the State of Alabama are required to be members of the Alabama Insurance Underwriting Association, which was established to provide a method whereby essential property insurance coverage would be provided in any county contiguous to the Gulf of Mexico and Mobile Bay. This bill would create the Alabama Coastal Insurance Authority for the purpose of providing affordable windstorm insurance for owners of insurable property in any county contiguous to the Gulf of Mexico and Mobile Bay. This bill would provide for the selection of the board of directors of the authority. This bill would provide for the adoption of the plan of operation of the authority, including the process...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/HB321.htm - 38K - Match Info - Similar pages
SB298
174083-2:n:02/24/2016:KMS*/cj LRS2016-633R1 SB298 By Senators Hightower and Pittman RFD Banking and Insurance Rd 1 24-FEB-16 SYNOPSIS: Under existing law, all insurers authorized and writing property insurance in the State of Alabama are required to be members of the Alabama Insurance Underwriting Association, which was established to provide a method whereby essential property insurance coverage would be provided in any county contiguous to the Gulf of Mexico and Mobile Bay. This bill would create the Alabama Coastal Insurance Authority for the purpose of providing affordable windstorm insurance for owners of insurable property in any county contiguous to the Gulf of Mexico and Mobile Bay. This bill would provide for the selection of the board of directors of the authority. This bill would provide for the adoption of the plan of operation of the authority, including the process for post-loss assessments of policyholders and assessable insurers. This bill would authorize the sale of...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/SB298.htm - 38K - Match Info - Similar pages
HB526
176321-1:n:04/06/2016:LLR/tj LRS2016-1308 HB526 By Representative Scott RFD Financial Services Rd 1 12-APR-16 SYNOPSIS: This bill would create the Alabama Motor Vehicle Title Loan Act. The bill would: Require licensure by the State Banking Department for a person to act as a title loan lender; provide for the application for licensure; require a bond and a nonrefundable application and investigation fee; provide for inactive licenses, renewal and reactivation of licenses, a fee for the license, and for the denial, suspension, or revocation of licenses. The bill would specify acts which constitute violations for which certain disciplinary actions may be taken; would provide for the imposition of fines and criminal penalties; and would provide remedies for title loans made or serviced without proper licensure. The bill would establish requirements for a title loan agreement; would provide for reclaiming a repossessed motor vehicle under certain circumstances; and would provide payment of...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/HB526.htm - 54K - Match Info - Similar pages
HB342
174690-1:n:02/24/2016:LLR/tj LRS2016-829 HB342 By Representative Todd RFD Financial Services Rd 1 25-FEB-16 SYNOPSIS: Under existing law, a license is required for any person engaged in the business of deferred presentment services. This bill would expand the licensure requirement for persons engaged in the business of deferred presentment services to include services offered by mail, telephone, Internet, mobile device application, or in person. This bill would increase the nonrefundable license fee and provide that one half of the increase would be paid to the State Banking Department and one half to the General Fund. This bill would provide that a person who attempts to evade the licensure requirement for the business of deferred presentment services would be guilty of a criminal offense and would provide penalties. This bill would further regulate the business of deferred presentment services by regulating the fees, interest, number of loans, term of a loan, finance charges, and...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/HB342.htm - 21K - Match Info - Similar pages
SB116
173256-1:n:02/01/2016:PMG/th LRS2016-287 SB116 By Senator Ward RFD Banking and Insurance Rd 1 02-FEB-16 SYNOPSIS: This bill would establish the Alabama Right to Shop Act. This bill would require a health care provider to provide, upon a patient's request, an estimate of the allowed amount or charge for health care services if the health care provider is in the patient's health benefit plan network or amount or charge if the health care provider is out-of-network and to assist a patient in obtaining information about the patient's out-of-pocket costs. This bill would require a health benefit plan to establish a toll-free number and website to provide information to enrollees about health care costs and to provide a binding estimate for the maximum allowed amount or charge for in-network and out-of-network services for a proposed admission, procedure, or service and the estimated amount the enrollee will be responsible to pay for a proposed admission, procedure, or service that is a...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/SB116.htm - 11K - Match Info - Similar pages
HB92
173442-1:n:02/03/2016:LFO-KF/bdl HB92 By Representative Greer RFD Ways and Means Education Rd 1 03-FEB-16 SYNOPSIS: Under current law for Alabama income tax purposes, all individuals are exempt from the reporting of distributions received from a defined benefit plan to the extent it is taxable for federal income tax purposes. Distributions received from a defined contribution plan are not exempt from reporting. This bill would remove the exemption from the reporting and taxation of such distributions and require such benefits be reported on an individuals income tax returns effective for the 2016 calendar tax year and provide an exemption of the first $50,000 of pension and annuity income. A portion of such distributions may be exempt from taxation for the recapture of any basis, under certain circumstances. A BILL TO BE ENTITLED AN ACT To amend Sections 16-25-23, 36-27-28, 36-27-170, 40-18-14, and 40-18-19 repeal Section 40-18-20 Code of Alabama 1975, to require individuals,...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/HB92.htm - 24K - Match Info - Similar pages
SB287
SB287 ENGROSSED By Senators Pittman, Ward, Allen, Williams and Reed A BILL TO BE ENTITLED AN ACT To amend Sections 14-2-1, 14-2-12, 14-2-13.1, 14-2-14, 14-2-16, 14-2-19, 14-2-21, 14-2-28, and 14-2-34, relating to the Alabama Corrections Institution Finance Authority, to allow the Authority to issue up to $800 million in bonds with no specified maturity date later than 30 years for the purpose of financing the construction of women's and regional prison facilities, renovating existing prison facilities, and demolishing obsolete prison facilities; and to allow the Authority to construct the women's and regional prison facilities using various types of construction agreements; to authorize the Authority to dispose of property not required for Department of Corrections purposes; to require reporting to the Joint Legislative Prison Committee; to further provide for actions to be taken upon payment of all bonds issued by the Authority; to amend Section 40-8-3, relating to allocation of the...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/SB287.htm - 36K - Match Info - Similar pages
SB389
176409-1:n:04/04/2016:PMG/mfc LRS2016-1365 SB389 By Senator Sanders RFD Judiciary Rd 1 05-APR-16 SYNOPSIS: This bill would prohibit the Alabama State Law Enforcement Agency from suspending the driver's license of an individual for failure to pay a fine, penalty, fee, or court cost for convictions of or for failure to appear on charges arising from certain traffic violations. A BILL TO BE ENTITLED AN ACT Relating to suspension of driver's licenses; to amend Section 32-5A-195, Code of Alabama 1975, to prohibit the Alabama State Law Enforcement Agency from suspending the driver's license of an individual for failure to pay a fine, penalty, fee, or court cost for convictions of or for failure to appear on charges arising from certain traffic violations. BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:Section 1. Section 32-5A-195, Code of Alabama 1975, is amended to read as follows: §32-5A-195. "(a) The Director of Public Safety Secretary of the Alabama State Law Enforcement Agency is hereby...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/SB389.htm - 14K - Match Info - Similar pages
SB91
SB91 ENGROSSED By Senator Orr A BILL TO BE ENTITLED AN ACT To amend Sections 5-18A-3, 5-18A-6, 5-18A-12, and 5-18A-13, Code of Alabama 1975, relating to the business of deferred presentment services; to increase the nonrefundable license fee and provide that one half of the increase would be paid to the State Banking Department and one half to the General Fund; to expand the licensure requirements for any person engaged in the business of deferred presentment services to include services offered by mail, telephone, Internet, mobile device application, or in person; to provide that a person who attempts to evade the licensure requirement for the business of deferred presentment services would be guilty of a criminal offense; to provide penalties; to further regulate the business of deferred presentment services by regulating the fees, interest, number of loans, term of a loan, finance charges, and repayment of a loan; and in connection therewith would have as its purpose or effect the...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/SB91.htm - 18K - Match Info - Similar pages
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