|
16-47-224
Section 16-47-224 Liability upon default, etc.; penalties. (a) If a participant defaults on
or otherwise fails to honor a loan-repayment contract with the board, the individual shall
be liable for immediate repayment of the total principal loan amount plus interest at the
rate of 8 percent accruing from the date of default or other failure to honor the contract.
In addition, the participant shall pay an additional penalty as specified: (1) For default
or other failure to honor a contract before graduation with a master's degree in physician
assistant studies, a penalty equal to 30 percent of the total principal amount of the loan
or loans received by the participant. (2) For default or other failure to honor a contract
after graduation with a master's degree in physician assistant studies but prior to completion
of the repayment obligation set forth in Section 16-47-222, a penalty equal to 100 percent
of the total principal amount of all loans received by the participant from the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-47-224.htm - 1K - Match Info - Similar pages
34-21-98
Section 34-21-98 Provisions for default or other failure to honor a contract with the board.
(a) In the event that the participant defaults on or otherwise fails to honor a loan-repayment
contract with the board for any reason, the individual shall be liable for immediate repayment
of the total principal loan amount plus interest at the rate of eight percent, or the prime
lending rate, whichever is greater, accruing from the date of default or other failure to
honor the contract. In addition, the participant shall pay an additional penalty as specified:
(1) For default or other failure to honor a contract under which a year's worth of loans have
been received, a penalty equal to 20 percent of the total principal amount of the loan. (2)
For default or other failure to honor a contract under which two years' worth of loans have
been received, a penalty equal to 30 percent of the total principal amount of the loan. (3)
For default or other failure to honor a contract under which three or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/34-21-98.htm - 2K - Match Info - Similar pages
39-2-12
Section 39-2-12 Partial and final payments of contractors by awarding authorities. (a) As used
in this section the following words shall have the meanings ascribed to them as follows: (1)
CONTRACTOR. Any natural person, partnership, company, firm, corporation, association, limited
liability company, cooperative, or other legal entity licensed by the Alabama State Licensing
Board for General Contractors. (2) NONRESIDENT CONTRACTOR. A contractor which is neither a.
organized and existing under the laws of the State of Alabama, nor b. maintains its principal
place of business in the State of Alabama. A nonresident contractor which has maintained a
permanent branch office within the State of Alabama for at least five continuous years shall
not thereafter be deemed to be a nonresident contractor so long as the contractor continues
to maintain a branch office within Alabama. (3) RETAINAGE. That money belonging to the contractor
which has been retained by the awarding authority conditioned on...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/39-2-12.htm - 18K - Match Info - Similar pages
16-47-127
Section 16-47-127 Agreement by recipients to practice in certain areas; immediate liability
upon default; penalty provisions; proceedings for recovery of amount due; death, disability
may excuse repayment. (a) Each recipient of a loan under this division shall enter into an
agreement with the Board of Medical Scholarship Awards whereby the recipient agrees to practice
in an area as defined in Section 16-47-126. In the event of a default or other breach of contract
by the recipient of loans provided under this division, or other termination of contract prior
to the completion of the period of medical education and training, the individual shall be
liable for immediate repayment of the total principal loan amount plus interest at the rate
of eight percent accruing from the date of default or termination and an additional penalty
as specified: (1) For default or termination of a loan for one scholastic year, a penalty
equal to 20 percent of the total principal amount of the loan. (2) For...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-47-127.htm - 3K - Match Info - Similar pages
16-47-80
Section 16-47-80 Contractual agreement of recipients; penalties for breach. (a) Each recipient
of a scholarship loan under the provisions of this article shall enter into a contract with
the Board of Dental Scholarship Awards whereby he or she agrees to repay the scholarship loan
in a manner prescribed by the board not inconsistent with any provision of this article. Breach
of contract by the recipient shall make him or her immediately liable for the unpaid balance
of the loan and shall constitute a ground for the revocation of his or her certificate or
license to practice dentistry in the State of Alabama. In the event of death or total and
permanent disability of the recipient to engage in the practice of dentistry, repayment of
the loan may be excused by the board. The Attorney General of Alabama, upon request of the
Board of Dental Scholarship Awards, shall institute proceedings in the name of the state for
the purpose of recovering any amount due the state under the provisions of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-47-80.htm - 3K - Match Info - Similar pages
16-33B-4
Section 16-33B-4 Basic powers and duties of the Alabama Commission on Higher Education for
the Alabama Guaranteed Student Loan Program. (a) Basic powers. The Alabama Commission on Higher
Education (ACHE) is authorized to administer the Alabama Guaranteed Student Loan Program in
accordance with the Federal Student Loan Law, and empowered to promulgate such rules, regulations,
policies, and procedures as may be reasonable and proper in order to carry out the provisions
and purposes of this chapter. Without limiting the generality of the foregoing, the ACHE is
authorized and empowered: (1) To establish regulations deemed necessary to comply with federal
regulations and legislation relative to guaranteed student loans and the Federal Student Loan
Law. (2) To establish eligibility criteria for participating postsecondary educational institutions.
(3) To establish reasonable eligibility criteria for the initial and continuing participation
of approved lenders in the student loan program. (4)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-33B-4.htm - 10K - Match Info - Similar pages
5-19-4
Section 5-19-4 Additional charges for default or deferral; prepayment; renewal or refinancing;
real property transactions. (a) When a scheduled payment in a consumer credit transaction
is in default 10 days or more, the creditor may charge and collect a late charge not exceeding
the greater of eighteen dollars ($18) or five percent of the amount of the scheduled payment
in default, not to exceed one hundred dollars ($100). The late charge may be collected only
once on any scheduled payment, regardless of the period during which the scheduled payment
remains in default. (b) With respect to the deferral of one or more wholly unpaid scheduled
payments in a consumer credit transaction, in which the finance charge was determined by the
precomputed method, the creditor may collect, by agreement with the debtor either before or
after default, an additional charge for each full month that any wholly unpaid scheduled payments
are outstanding after the due date of each scheduled payment equal to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-19-4.htm - 6K - Match Info - Similar pages
5-18-15
Section 5-18-15 Interest rates, charges, and fees. (a) Maximum rates of interest and charge.
Every licensee under this chapter may contract for and receive as interest on any loan of
money less than one thousand five hundred dollars ($1,500) an amount at a rate not exceeding
three percent a month on that part of the unpaid principal balance not in excess of two hundred
dollars ($200), and two percent a month on that part of the unpaid principal balance in excess
of two hundred dollars ($200) but less than one thousand five hundred dollars ($1,500). (b)
Account maintenance fee. In addition to the maximum rate of interest and charges pursuant
to subsection (a), a licensee may enter into a contract of loan under this chapter in which
the borrower agrees to pay an account maintenance fee of not more than three dollars ($3)
for each month of the scheduled period of repayment of the loan provided that the scheduled
monthly payments are equal to or greater than thirty dollars ($30). Such...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-18-15.htm - 13K - Match Info - Similar pages
40-18-86
Section 40-18-86 Sale or transfer of real property and associated tangible property by nonresidents.
(a) As used in this section, the term nonresident of Alabama shall include individuals, trusts,
partnerships, corporations, and unincorporated organizations. Any seller or transferor who
meets all of the following conditions and who provides the buyer or transferee with an affidavit
signed under oath swearing or affirming that all of the following conditions are met will
be deemed a resident for purposes of this section: (1) The seller or transferor has filed
Alabama income tax returns or appropriate extensions have been received for the two income
tax years immediately preceding the year of sale. (2) The seller or transferor is in business
in Alabama and will continue substantially the same business in Alabama after the sale or
the seller or transferor has real property remaining in the state at the time of closing of
equal or greater value than the withholding tax liability as...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-86.htm - 6K - Match Info - Similar pages
27-17A-11
Section 27-17A-11 Application for certificate; statements; issuance; expiration; transfer.
(a) An application to the commissioner for a certificate of authority shall be accompanied
by the statement and other matters described in this section in the form prescribed by the
commissioner. Annually thereafter, within six months after the end of its fiscal period, or
within an extension of time therefor, as the commissioner for good cause may grant, the person
authorized to engage in the sale of preneed contracts shall file with the commissioner a full
and true statement of his or her financial condition, transactions, and affairs, prepared
on a basis as adopted by a rule of the commissioner, as of the preceding fiscal period or
at such other time or times as the commissioner may provide by rule, together with information
and data which may be required by the commissioner. (b) The statement shall include all of
the following: (1) The types of preneed contracts proposed to be written and the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-17A-11.htm - 7K - Match Info - Similar pages
|