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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...
alisondb.legislature.state.al.us/alison/searchableinstruments/2017RS/bills/SB249.htm - 24K - Match Info - Similar pages
SB261
182498-1:n:02/27/2017:JMH/th LRS2017-727 SB261 By Senators Whatley, Marsh, Reed, Albritton,
Scofield, Ward, Allen, Livingston, Williams, Smitherman, Chambliss and Waggoner RFD Judiciary
Rd 1 28-FEB-17 SYNOPSIS: This bill would provide for the regulation of consumer lawsuit lenders
and consumer lawsuit lending agreements. This bill would define a consumer lawsuit lender
as a person who provides money or extends credit to a consumer based on the consumer's potential
recovery of money in a legal dispute and in which the consumer may use the money or credit
for a purpose other than prosecuting the legal dispute on which the extension money or credit
is conditioned and in which the consumer lawsuit lender's recourse against the consumer is
limited primarily to the amount recovered. This bill would require consumer lawsuit lenders
to obtain a license from the State Banking Department to make consumer lawsuit loans and extensions
of credit and would make consumer lawsuit lenders and consumer...
alisondb.legislature.state.al.us/alison/searchableinstruments/2017RS/bills/SB261.htm - 8K - Match Info - Similar pages
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: ยง5-18-4. "(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...
alisondb.legislature.state.al.us/alison/searchableinstruments/2017RS/bills/HB314.htm - 24K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/searchableinstruments/2017RS/bills/SB284.htm - 36K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/searchableinstruments/2017RS/bills/HB535.htm - 18K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/searchableinstruments/2017RS/bills/SB404.htm - 20K - Match Info - Similar pages
HB540
184139-3:n:04/13/2017:JET/cj LRS2017-715R2 HB540 By Representative Pringle RFD State Government
Rd 1 20-APR-17 SYNOPSIS: This bill would substantially revise the provisions governing the
operation of the Department of Examiners of Public Accounts. This bill would revise the qualifications
of the chief examiner of public accounts, revise the procedures for removal of the chief examiner,
revise certain provisions relating to the salary of the chief examiner and certain staff and
employees, revise the term of service, and require the chief examiner to appoint chief legal
counsel. This bill would also revise and clarify certain duties of the department. This bill
would also revise the composition of the Legislative Committee on Public Accounts beginning
January 1, 2019. Amendment 621 of the Constitution of Alabama of 1901, now appearing as Section
111.05 of the Official Recompilation of the Constitution of Alabama of 1901, as amended, prohibits
a general law whose purpose or effect would...
alisondb.legislature.state.al.us/alison/searchableinstruments/2017RS/bills/HB540.htm - 27K - Match Info - Similar pages
HB580
185115-2:n:04/25/2017:KMS/tgw LRS2017-1656R1 HB580 By Representative Boothe RFD Boards, Agencies
and Commissions Rd 1 02-MAY-17 SYNOPSIS: Under existing law, the State Board of Licensure
for Professional Engineers and Land Surveyors is responsible for licensing and regulating
the practices of engineering and land surveying in the state. This bill would create the State
Board of Licensure for Professional Land Surveyors, would transfer the authority for licensing
and regulating land surveyors from the State Board of Licensure for Professional Engineers
and Land Surveyors to the State Board of Licensure for Professional Land Surveyors, and would
rename the State Board of Licensure for Professional Engineers and Land Surveyors as the State
Board of Licensure for Professional Engineers. This bill would require the Executive Director
of the State Board of Licensure for Professional Engineers and Land Surveyors to transfer
all property, records, files, and other information relating to the...
alisondb.legislature.state.al.us/alison/searchableinstruments/2017RS/bills/HB580.htm - 139K - Match Info - Similar pages
HB127
180750-1:n:11/22/2016:LLR/th LRS2016-3412 HB127 By Representative Buskey RFD Economic Development
and Tourism Rd 1 07-FEB-17 SYNOPSIS: Under existing law, there is a process for establishing
community development districts that meet certain requirements. Once established, the sale
of alcoholic beverages is authorized within the district by certain entities otherwise licensed
by the Alcoholic Beverage Control Board. This bill would create an additional class of community
development district and provide for the incorporation and powers of the district. A BILL
TO BE ENTITLED AN ACT To amend Sections 35-8B-1, 35-8B-2, and 35-8B-3, as amended by Act 2016-222,
2016 Regular Session, Code of Alabama 1975, relating to community development districts; to
create an additional class of community development district; and to provide for the incorporation
and powers of the district. BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:Section 1. Sections
35-8B-1, 35-8B-2, and 35-8B-3, as amended by Act...
alisondb.legislature.state.al.us/alison/searchableinstruments/2017RS/bills/HB127.htm - 18K - Match Info - Similar pages
HB57
179006-2:n:08/05/2016:FC/th LRS2016-2502R1 HB57 By Representative Johnson (R) RFD Economic
Development and Tourism Rd 1 07-FEB-17 SYNOPSIS: Under existing law, there is a process for
establishing community development districts that meet certain requirements. Once established,
the sale of alcoholic beverages is authorized within the district by certain entities otherwise
licensed by the Alcoholic Beverage Control Board. This bill would provide for an additional
type of community development district which meets certain conditions in a wet county which
does not authorize Sunday sales of alcoholic beverages. Upon incorporation and approval of
the board, the Sunday sale of alcoholic beverages would be authorized in the district. A BILL
TO BE ENTITLED AN ACT To amend Section 35-8B-1, 35-8B-2, and 35-8B-3, Code of Alabama 1975,
as amended by Act 2016-222 of the 2016 Regular Session, relating to community development
districts; to create an additional class of community development district;...
alisondb.legislature.state.al.us/alison/searchableinstruments/2017RS/bills/HB57.htm - 18K - Match Info - Similar pages
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