SB404
185932-1:n:04/26/2017:JMH/tgw LRS2017-1928 SB404 By Senator Whatley RFD Banking and Insurance
Rd 1 27-APR-17 SYNOPSIS: Under existing law, a person who engages in the business of deferred
presentment services must be licensed by the State Banking Department. Under existing law,
when a deferred presentment services transaction becomes due, the licensee may renew or extend
the transaction for one additional term. After one renewal or extension, the licensee may
not enter into a new transaction with the customer until the next business day after the previous
transaction is paid in full. Under existing law, if the customer is unable to pay upon the
expiration of the initial term and one renewal or extension, the licensee may offer an extended
repayment plan of four equal monthly installments. This bill would clarify that a person may
not engage in the business of deferred presentment services with a consumer in this state
by mail, telephone, over the Internet, or in person without a...
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HB535
Rep(s). By Representatives Garrett, Coleman, Faulkner and Todd HB535 ENGROSSED A BILL TO BE
ENTITLED AN ACT Relating to deferred presentment services; to amend Sections 5-18A-2, 5-18A-3,
5-18A-12, and 5-18A-13, Code of Alabama 1975; to clarify that no person may engage in the
business of deferred presentment services by mail, telephone, over the Internet, or in person
without a license; to specify that certain transactions in violation are void; to provide
for hours of operation of a deferred presentment services business; to prohibit renewal or
extension of a deferred presentment transaction at the expiration of the initial term; to
provide further for a repayment plan; to limit the extension of a new deferred presentment
services transaction until a certain time after repayment and the extension of a new transaction
while the customer is utilizing a repayment plan; to require a licensee to notify the customer
of the availability of other products in certain circumstances; and to...
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SB284
183291-2:n:03/07/2017:JMH/th LRS2017-1008R1 SB284 By Senators Orr and Smitherman RFD Judiciary
Rd 1 07-MAR-17 SYNOPSIS: Under existing law, the maximum rate of interest on a small loan
is three percent a month on amounts not more than $200 and two percent a month for amounts
in excess of $200, and the maximum term of the small loan is limited to 25 months. Under existing
law, in lieu of these interest rates, the lender may utilize an alternative rate of charge
that consists of an acquisition fee of up to 10 percent of the principal and a monthly installment
handling fee. Under existing law, the maximum term of a small loan on which the alternative
rate of charge may be utilized is 12 months. This bill would provide that the minimum term
for a small loan in which the lender is charging the alternative rate is six months. This
bill would prohibit the lender from collecting an additional acquisition charge if the loan
is refinanced within the first six months. Under existing law, the term...
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HB356
183263-1:n:03/01/2017:EBO-KB/mej HB356 By Representative Patterson RFD State Government Rd
1 02-MAR-17 SYNOPSIS: This bill would create an option for certain retirees of the Teachers'
Retirement System and the Employees' Retirement System to elect to receive a lump-sum cash
payment equal to and in lieu of a portion of his or her retirement allowance, not to exceed
50 percent. This bill would require the Director of Finance to certify to the Board of Control,
the Governor, and the presiding officer of each house of the Legislature whether or not available
funds are sufficient and economic conditions are satisfactory to support the financial viability
of the lump-sum retirement allowance option and would delay the offering of the option for
a period of 12 months if economic conditions do not support the viability of the lump-sum
option. This bill would also create the Alabama Pension Authority and would authorize the
authority to issue bonds to fund the lump-sum retirement allowance...
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SB321
183263-1:n:03/01/2017:EBO-KB/mej SB321 By Senator Hightower RFD Finance and Taxation Education
Rd 1 15-MAR-17 SYNOPSIS: This bill would create an option for certain retirees of the Teachers'
Retirement System and the Employees' Retirement System to elect to receive a lump-sum cash
payment equal to and in lieu of a portion of his or her retirement allowance, not to exceed
50 percent. This bill would require the Director of Finance to certify to the Board of Control,
the Governor, and the presiding officer of each house of the Legislature whether or not available
funds are sufficient and economic conditions are satisfactory to support the financial viability
of the lump-sum retirement allowance option and would delay the offering of the option for
a period of 12 months if economic conditions do not support the viability of the lump-sum
option. This bill would also create the Alabama Pension Authority and would authorize the
authority to issue bonds to fund the lump-sum retirement...
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HB314
Rep(s). By Representatives Johnson (K), Collins, Martin, Shiver, Lee, Moore (B), Brown, Rogers,
Rowe, Hammon, Carns, Davis, Wood, Greer, Nordgren, Black, Williams (JW), Clouse, Drake, Ellis,
Ford, Crawford, Butler, Blackshear, Scott, Patterson, Wadsworth, Weaver and Wingo HB314 ENROLLED,
An Act, Relating to the Alabama Small Loan Act; to amend Sections 5-18-4, 5-18-10, 5-18-13,
and 5-18-15, Code of Alabama 1975, to increase the lending authority and further provide for
the interest rates; and to provide further for the minimum and maximum term of loans. BE IT
ENACTED BY THE LEGISLATURE OF ALABAMA:Section 1. Sections 5-18-4, 5-18-10, 5-18-13, and 5-18-15,
Code of Alabama 1975, are amended to read as follows: §5-18-4. "(a) License required.
No person shall engage in the business of lending in amounts of less than one thousand dollars
($1,000) one thousand five hundred dollars ($1500) and contract for, exact or receive, directly
or indirectly, on or in connection with any such loan, any...
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SB249
182044-2:n:02/13/2017:FC/tgw LRS2017-585R1 SB249 By Senators Dial, Whatley, Ward, Livingston,
Waggoner, Shelnutt, Albritton, Holley, Beasley and Smith RFD Banking and Insurance Rd 1 28-FEB-17
SYNOPSIS: Under existing law, the Alabama Small Loan Act authorizes licensed lenders to make
loans up to $1,000 subject to interest rates and charges provided by law. This bill would
authorize licensed lenders under the act to make loans up to $1500 and adjust the interest
rates for loans based on the lending authority. This bill would also provide a minimum three-month
term on loans and a maximum term of 18 months. A BILL TO BE ENTITLED AN ACT Relating to the
Alabama Small Loan Act; to amend Sections 5-18-4, 5-18-10, 5-18-13, and 5-18-15, Code of Alabama
1975, to increase the lending authority and further provide for the interest rates; and to
provide further for the minimum and maximum term of loans. BE IT ENACTED BY THE LEGISLATURE
OF ALABAMA:Section 1. Sections 5-18-4, 5-18-10, 5-18-13, and...
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HB472
183688-2:n:04/06/2017:JMH/mfc LRS2017-839R1 HB472 By Representative Poole RFD Judiciary Rd
1 06-APR-17 SYNOPSIS: Under existing law, the Alabama Partnership Act governs the formation,
powers, governance, and dissolution of partnerships in the state. This bill would revise the
Alabama Partnership Act and would specify that the procedures for formation, powers, governance,
and dissolution are applicable to limited liability limited partnerships, limited liability
partnerships, foreign limited liability partnerships, and foreign limited liability partnerships
that function in the state. This bill would make conforming changes elsewhere in the business
entities law. A BILL TO BE ENTITLED AN ACT Relating to business entities; to amend Section
10A-1-1.02, Section 10A-1-1.03, as amended by Act 2016-379, 2016 Regular Session, Sections
10A-1-1.06, 10A-1-1.08, 10A-1-1.12, 10A-1-2.02, 10A-1-3.06, 10A-1-3.17, 10A-1-3.32, 10A-1-3.33,
10A-1-3.41, 10A-1-4.01, 10A-1-4.02, 10A-1-4.25, 10A-1-4.31,...
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SB361
SB361 ENGROSSED By Senators Orr and Whatley A BILL TO BE ENTITLED AN ACT Relating to business
entities; to amend Section 10A-1-1.02, Section 10A-1-1.03, as amended by Act 2016-379, 2016
Regular Session, Sections 10A-1-1.06, 10A-1-1.08, 10A-1-1.12, 10A-1-2.02, 10A-1-3.06, 10A-1-3.17,
10A-1-3.32, 10A-1-3.33, 10A-1-3.41, 10A-1-4.01, 10A-1-4.02, 10A-1-4.25, 10A-1-4.31, 10A-1-5.01,
10A-1-5.02, 10A-1-5.03, 10A-1-5.04, 10A-1-5.05, 10A-1-5.06, 10A-1-5.07, and 10A-1-5.08; to
add Section 10A-1-5.10; to amend Sections 10A-1-5.11, 10A-1-5.12, 10A-1-5.31, 10A-1-5.32,
10A-1-5.33, 10A-1-7.01, 10A-1-7.02, 10A-1-7.03, 10A-1-7.04, 10A-1-7.05, and 10A-1-7.06, Section
10A-1-7.07, as amended by Act 2016-379, 2016 Regular Session, 10A-1-7.11, 10A-1-7.12, 10A-1-7.13,
10A-1-7.14, 10A-1-7.22, 10A-1-7.23, 10A-1-7.24, 10A-1-7.31, 10A-1-7.32, 10A-1-7.34, 10A-1-7.36,
10A-1-7.37, 10A-1-8.01, 10A-1-8.02, and 10A-1-8.03, to amend and renumber Section 10A-1-9.01
as 10A-1-9.02, to add a new Section 10A-1-9.01, and to...
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HB212
Rep(s). By Representative Brown HB212 ENROLLED, An Act, To amend Section 34-13-1, as amended
by Act 2016-265, 2016 Regular Session, and Sections 34-13-3, 34-13-8, 34-13-10, 34-13-11,
34-13-20, 34-13-21, 34-13-23, 34-13-25, 34-13-26, 34-13-29, 34-13-31, 34-13-51, 34-13-52,
34-13-53, 34-13-54, 34-13-55, 34-13-56, 34-13-57, 34-13-70, 34-13-71, 34-13-74, 34-13-91,
34-13-110, 34-13-111, 34-13-112, 34-13-113, 34-13-115, 34-13-116, 34-13-120, 34-13-121, 34-13-130,
34-13-131, 34-13-132, and 34-13-134, Code of Alabama 1975, and to add Sections 34-13-56.1,
34-13-117, 34-13-120.1, and 34-13-123 to the Code of Alabama 1975, relating to the Alabama
Board of Funeral Service and the Funeral Service Practice Act; to provide further for definitions;
to provide further for the membership of the board; to change the name of the executive secretary
of the board to the executive director of the board; to include the grandchildren of the decedent
in the priority list of those persons eligible to act as...
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