8-25-2
Section 8-25-2 Disclosures by merchant to consumer; inaccuracy due to acts, etc., after delivery;
form of disclosure. (a) The merchant shall disclose to the consumer the information required
by this title. In a transaction involving more than one consumer, the merchant need disclose
to only one of the consumers who are primarily obligated. In a transaction involving more
than one merchant, only one merchant need make the disclosures. (b) The disclosures shall
be made clearly and conspicuously in writing in a form that the consumer may keep. The required
disclosure may be made a part of the rental-purchase agreement or provided on a separate form.
(c) If a disclosure becomes inaccurate as the result of any act, occurrence, or agreement
after delivery of the required disclosure, the resulting inaccuracy is not a violation of
this title. (d) For each rental-purchase agreement, the lessor shall disclose the following
items, as applicable: (1) Whether the merchandise is new or has been...
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5-19-16
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 the remainder of the contract without the unconscionable
provision, or it may so limit the application of any unconscionable provision as to avoid
any unconscionable result. (Acts 1971, No. 2052, p. 3290, §12; Acts 1996, No. 96-576, p.
887, §2.)...
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8-8-14
Section 8-8-14 Interest surcharge on loans or credit sales; refunds; maximum interest rate
indexed to prime rate; maximum interest rates for open-end credit plans. (a) In addition to
other lawful charges under various state laws, and notwithstanding any restrictions thereunder,
a legal licensed lending institution, a vendor making credit sales, any financial institution
operating in Alabama or any individual may, if provided in the contract, charge and collect
at the time of making a loan or credit sale, on each contract of loan or credit sale, an interest
surcharge of not more than six percent of the part of the amount financed, which is not in
excess of two thousand dollars ($2000). In addition to any rebate to which the debtor is otherwise
entitled, when any contract upon which an interest surcharge has been charged is prepaid in
full by any means within 90 days of date of the contract, the creditor shall refund or credit
the debtor with a pro rata portion of the interest surcharge,...
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7-9A-628
Section 7-9A-628 Nonliability and limitation on liability of secured party; liability of secondary
obligor. (a) Limitation of liability of secured party for noncompliance with article. Unless
a secured party knows that a person is a debtor or obligor, knows the identity of the person,
and knows how to communicate with the person: (1) the secured party is not liable to the person,
or to a secured party or lienholder that has filed a financing statement against the person,
for failure to comply with this article; and (2) the secured party's failure to comply with
this article does not affect the liability of the person for a deficiency. (b) Limitation
of liability based on status as secured party. A secured party is not liable because of its
status as secured party: (1) to a person that is a debtor or obligor, unless the secured party
knows: (A) that the person is a debtor or obligor; (B) the identity of the person; and (C)
how to communicate with the person; or (2) to a secured party or...
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8-32-4
Section 8-32-4 Required provisions, reimbursement insurance policy. Reimbursement insurance
policies insuring service contracts sold in this state shall provide that, upon failure of
the provider to perform under the service contract, including, without limitation, failure
to refund or credit the unearned portion of the purchase price of the service contract to
the extent required by this chapter, the insurer that issued the reimbursement insurance policy
shall pay on behalf of the provider any sums the provider is legally obligated to pay to a
service contract holder, or shall provide the service which the provider is legally obligated
to perform, according to the provider's contractual obligations under the service contracts
sold by the provider. The reimbursement insurance company shall be responsible to refund only
the unearned premium net of the unearned provider fee, and the provider shall be responsible
for refunding or crediting the unearned provider fee in excess of the...
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27-42-3
Section 27-42-3 Applicability of chapter. This chapter shall apply to all kinds of direct insurance,
excluding all of the following: (1) Life, annuity, health, or disability insurance. (2) Mortgage
guaranty, financial guaranty, or other forms of insurance offering protection against investment
risks. (3) Fidelity or surety bonds, or any other bonding obligations. (4) Credit insurance,
vendors' single interest insurance, or collateral protection insurance or any similar insurance
protecting the interests of a creditor arising out of a creditor-debtor transaction. (5) Insurance
of warranties or service contracts, including insurance that provides for the repair, replacement,
or service of goods or property, or indemnification for repair, replacement, or service, for
the operational or structural failure of the goods or property due to a defect in materials,
workmanship, or normal wear and tear, or provides reimbursement for the liability incurred
by the issuer of agreements or service...
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8-9A-4
Section 8-9A-4 Transfers fraudulent as to present and future creditors. (a) A transfer made
by a debtor is fraudulent as to a creditor, whether the creditor's claim arose before or after
the transfer was made, if the debtor made the transfer with actual intent to hinder, delay,
or defraud any creditor of the debtor. (b) In determining actual intent under subsection (a),
consideration may be given, among other factors, to whether: (1) The transfer was to an insider;
(2) The debtor retained possession or control of the property transferred after the transfer;
(3) The transfer was disclosed or concealed; (4) Before the transfer was made the debtor had
been sued or threatened with suit; (5) The transfer was of substantially all the debtor's
assets; (6) The debtor absconded; (7) The debtor removed or concealed assets; (8) The value
of the consideration received by the debtor was reasonably equivalent to the value of the
asset transferred; (9) The debtor was insolvent or became insolvent...
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7-9A-307
Section 7-9A-307 Location of debtor. (a) "Place of business." In this section, "place
of business" means a place where a debtor conducts its affairs. (b) Debtor's location:
General rules. Except as otherwise provided in this section, the following rules determine
a debtor's location: (1) A debtor who is an individual is located at the individual's principal
residence. (2) A debtor that is an organization and has only one place of business is located
at its place of business. (3) A debtor that is an organization and has more than one place
of business is located at its chief executive office. (c) Limitation of applicability of subsection
(b). Subsection (b) applies only if a debtor's residence, place of business, or chief executive
office, as applicable, is located in a jurisdiction whose law generally requires information
concerning the existence of a nonpossessory security interest to be made generally available
in a filing, recording, or registration system as a condition or result...
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7-9A-611
Section 7-9A-611 Notification before disposition of collateral. (a) "Notification date."
In this section, "notification date" means the earlier of the date on which: (1)
a secured party sends to the debtor and any secondary obligor an authenticated notification
of disposition; or (2) the debtor and any secondary obligor waive the right to notification.
(b) Notification of disposition required. Except as otherwise provided in subsection (d),
a secured party that disposes of collateral under Section 7-9A-610 shall send to the persons
specified in subsection (c) a reasonable authenticated notification of disposition. (c) Persons
to be notified. To comply with subsection (b), the secured party shall send an authenticated
notification of disposition to: (1) the debtor; (2) any secondary obligor; and (3) if the
collateral is other than consumer goods: (A) any other person from which the secured party
has received, before the notification date, an authenticated notification of a claim of an...

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7-9A-613
Section 7-9A-613 Contents and form of notification before disposition of collateral: General.
Except in a consumer-goods transaction, the following rules apply: (1) The contents of a notification
of disposition are sufficient if the notification: (A) describes the debtor and the secured
party; (B) describes the collateral that is the subject of the intended disposition; (C) states
the method of intended disposition; (D) states that the debtor is entitled to an accounting
of the unpaid indebtedness and states the charge, if any, for an accounting; and (E) states
the time and place of a public disposition or the time after which any other disposition is
to be made. (2) Whether the contents of a notification that lacks any of the information specified
in paragraph (1) are nevertheless sufficient is a question of fact. (3) The contents of a
notification providing substantially the information specified in paragraph (1) are sufficient,
even if the notification includes: (A) information not...
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