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7-1-201
Section 7-1-201 General definitions. (a) [Reserved]. (b) Subject to additional definitions
contained in the subsequent articles of this title which are applicable to specific articles
or parts thereof, and unless the context otherwise requires, in this title: (1) "Action,"
in the sense of a judicial proceeding, includes recoupment, counterclaim, set-off, suit in
equity, and any other proceeding in which rights are determined. (2) "Aggrieved party"
means a party entitled to pursue a remedy. (3) "Agreement," as distinguished from
"contract," means the bargain of the parties in fact, as found in their language
or inferred from other circumstances, including course of performance, course of dealing,
or usage of trade as provided in Section 7-1-303. (4) "Bank" means a person
engaged in the business of banking and includes a savings bank, savings and loan association,
credit union, and trust company. (5) "Bearer" means a person in possession of a
negotiable instrument, document of title, or...
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40-27-1
Section 40-27-1 Compact adopted; terms. The following Multistate Tax Compact is hereby
approved, adopted and enacted into law by the State of Alabama: Multistate Tax Compact Article
I. Purposes. The purposes of this compact are to: 1. Facilitate proper determination of state
and local tax liability of multistate taxpayers, including the equitable apportionment of
tax bases and settlement of apportionment disputes. 2. Promote uniformity or compatibility
in significant components of tax systems. 3. Facilitate taxpayer convenience and compliance
in the filing of tax returns and in other phases of tax administration. 4. Avoid duplicative
taxation. Article II. Definitions. As used in this compact: 1. "State" means a state
of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or any territory
or possession of the United States. 2. "Subdivision" means any governmental unit
or special district of a state. 3. "Taxpayer" means any corporation, partnership,
firm,...
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27-61-1
Section 27-61-1 Surplus Lines Insurance Multi-State Compliance Compact. The Surplus
Lines Insurance Multi-State Compliance Compact Act is enacted into law and entered into with
all jurisdictions mutually adopting the compact in the form substantially as follows: PREAMBLE
WHEREAS, with regard to Non-Admitted Insurance policies with risk exposures located in multiple
states, the 111th United States Congress has stipulated in Title V, Subtitle B, the Non-Admitted
and Reinsurance Reform Act of 2010, of the Dodd-Frank Wall Street Reform and Consumer Protection
Act, hereafter, the NRRA, that: (A) The placement of Non-Admitted Insurance shall be subject
to the statutory and regulatory requirements solely of the insured's Home State, and (B) Any
law, regulation, provision, or action of any State that applies or purports to apply to Non-Admitted
Insurance sold to, solicited by, or negotiated with an insured whose Home State is another
State shall be preempted with respect to such application;...
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8-20-4
Section 8-20-4 Unfair and deceptive trade practices. Notwithstanding the terms, provisions,
or conditions of any dealer agreement or franchise or the terms or provisions of any waiver,
prior to the termination, cancellation, or nonrenewal of any dealer agreement or franchise,
the following acts or conduct shall constitute unfair and deceptive trade practices: (1) For
any manufacturer, factory branch, factory representative, distributor, or wholesaler, distributor
branch, or distributor representative to coerce or attempt to coerce any motor vehicle dealer
to do any of the following: a. To accept, buy, or order any motor vehicle or vehicles, appliances,
equipment, parts, or accessories therefor, or any other commodity or commodities or service
or services which such motor vehicle dealer has not voluntarily ordered or requested except
items required by applicable local, state, or federal law; or to require a motor vehicle dealer
to accept, buy, order, or purchase such items in order to...
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5-19-32
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 goods also may sell or finance, or both, a
service contract covering the tangible goods. A "service contract" as used in this
section is an agreement, for a separately stated consideration, of the service contract
offeror to correct, repair, or replace, or to pay for the correction, repair, maintenance,
or replacement of tangible goods during the period covered by the service contract, with or
without additional provisions for payment of or indemnity under limited circumstances for
related expenses including, without limitation, for towing, rental, and emergency road service,
whether called a service contract, extended warranty or otherwise. The service contract offeror...
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5-19-31
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 in real property or the sale,
lease, or mortgage of an interest in real property where the creditor is exempt from licensing
under this chapter, (ii) where the credit transaction is not a consumer transaction, (iii)
where the credit transaction is by a trust institution as defined in Section 5-12A-1(1),
in its capacity as a fiduciary under any plan or agreement qualified under 26 U.S.C. 401(a)
or defined by 5 U.S.C. 8437, 26 U.S.C. 403(b), or 26 U.S.C. 457, or a trust exempt under 26
U.S.C. 501, or (iv) to any municipal pension system created under the laws of the State of
Alabama. The provisions of this chapter shall not apply where the credit transaction is a
policy...
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8-37-2
Section 8-37-2 (Effective January 1, 2018) Definitions. For the purposes of this chapter,
the following words have the following meanings: (1) ADMINISTRATOR. A person, other than an
insurer or creditor, that performs administrative or operational functions pursuant to guaranteed
asset protection waiver programs. (2) BORROWER. A debtor, retail buyer or lessee, under a
finance agreement. (3) CREDITOR means any of the following: a. The lender in a loan or credit
transaction. b. The lessor in a lease transaction. c. Any retail seller of motor vehicles
in a retail installment transaction. d. The seller in commercial retail installment transactions.
e. The assignees of any of the foregoing to whom the credit or lease obligation is payable.
(4) FINANCE AGREEMENT. A loan, lease, or retail installment sales contract for the purchase
or lease of a motor vehicle. (5) FREE LOOK PERIOD. The period of time from the effective date
of the GAP waiver until the date the borrower may cancel the GAP...
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8-37-3
Section 8-37-3 (Effective January 1, 2018) GAP waivers authorized; charges; insurance;
creditor requirements. (a) GAP waivers may be offered, sold, or provided to borrowers in this
state under this chapter. (b) GAP waivers, at the option of the creditor that offers the GAP
waiver, may be sold for a single payment or may be offered with a monthly or periodic payment
option. (c) Notwithstanding any other provision of law and subject to Section 8-37-7,
any cost to the borrower for a GAP waiver entered into in compliance with The Truth in Lending
Act, 15 U.S.C. ยง1601 et seq., and its implementing regulations, as they may be amended from
time to time, shall be separately stated and is not to be considered a finance charge or interest.
If the charge for a GAP waiver is financed, the charge shall be separately itemized on the
finance agreement. (d) A retail seller shall insure its GAP waiver obligations under a contractual
liability or other insurance policy issued by an insurer. A creditor,...
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5-19A-2
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 Attorney General of the State of Alabama. (3)
PAWN TRANSACTION. Any loan on the security of pledged goods or any purchase of pledged goods
on condition that the pledged goods are left with the pawnbroker and may be redeemed or repurchased
by the seller for a fixed price within a fixed period of time. A "pawn transaction"
does not include the pledge to, or the purchase by, a pawnbroker of real or personal property
from a customer followed by the sale or the leasing of that property back to the customer
in the same or a related transaction. (4) PAWNBROKER. Any person engaged in the business of
lending money on the security of pledged goods left in pawn, or in the business of...
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11-47-25
Section 11-47-25 Acceptance of credit card payments in Class 1 municipalities. (a) This
section shall apply only in a Class 1 municipality. (b) Notwithstanding any other provision
of law to the contrary, any office or unit of a Class 1 municipality government required or
authorized to receive or collect any payments to the municipality or to state or local government
may, upon approval of the mayor, accept a credit card payment of the amount. (c) This section
shall be broadly construed to authorize acceptance of credit card payments by: (1) All departments,
agencies, boards, bureaus, commissions, authorities, and other units of the municipality.
(2) All officers, officials, employees, and agents of the municipal units of the municipality.
(d) This section shall be broadly construed to authorize acceptance of credit card
payments of all types of amounts payable to or collected by the municipality, including, but
not limited to, taxes, license and registration fees, fines, and penalties....
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