5-19-15
Section 5-19-15 Garnishment. Prior to entry of judgment on a consumer credit transaction, the
creditor may not attach unpaid earnings of the debtor by garnishment. Notwithstanding the
garnishment procedure otherwise applicable after judgment, with respect to a consumer credit
transaction, the amount of unpaid earnings of the debtor subject to garnishment shall not
exceed the lesser of: (1) Twenty-five percent of the debtor's disposable earnings for that
week; or (2) The amount by which the debtor's disposable earnings for that week exceed 30
times the federal minimum hourly wage in effect when payable. "Disposable earnings"
means that part of the earnings of a debtor remaining after deduction of amounts required
by law to be withheld, and disposable earnings shall not include periodic payments pursuant
to a pension, retirement, or disability program. (Acts 1971, No. 2052, p. 3290, §11; Acts
1988, No. 88-294, p. 454, §1; Acts 1996, No. 96-576, p. 887, §2.)...
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30-3-64
Section 30-3-64 Employer's answer; order binding on employer; modification by court. Within
14 days of the service of an income withholding order upon an employer, the employer shall
file an answer with the court which issued the order. The answer shall state whether or not
the obligor is employed by the employer and whether the employer has in his or its possession
income, as such term is defined in this article, due or due to become due to the obligor.
The answer shall also indicate the amount of the obligor's disposable income, as such term
is defined in the Federal Consumer Credit Act, and whether the obligor's disposable income
is currently subject to any writ of garnishment, previous income withholding order or other
legal process and the nature and extent of such previous judgment and process. If the employer
answers that the obligor has income which is subject to the order for income withholding the
order entered pursuant to any of the provisions of this article shall become...
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5-19-19
Section 5-19-19 Liabilities of creditor making excess finance charge; failure to obtain license;
damages for deliberate violation or reckless disregard; written notice of violations; oral
statements not admissible; fiduciary duty not created. (a)(1)(i) Any creditor charging a finance
charge in excess of the amount authorized herein, except as specified in subdivision (2),
shall forfeit debtor's actual economic damages not to exceed the finance charge, and shall
refund to the debtor such amount of the actual economic damages, which may be done by reducing
the amount of the debtor's obligation. If the debtor is entitled to a refund and the creditor
refuses to refund within a reasonable time, not to exceed 60 days, after written demand, including
the filing of a legal action, the debtor shall recover a penalty of five times the amount
of the actual economic damages not to exceed the finance charge, but in any event not less
than one hundred dollars ($100). Provided, however, as to any...
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5-19-10
Section 5-19-10 Contract provisions for attorney's fees. A contract for a consumer credit transaction
with an original amount financed not exceeding three hundred dollars ($300) may not provide
for payment by the debtor of attorney's fees after default by the debtor. A contract for a
consumer credit transaction with an original amount financed exceeding three hundred dollars
($300) may provide for the payment by the debtor of reasonable attorney's fees not exceeding
15 percent of the unpaid debt after default and referral of the contract to an attorney who
is not a salaried employee of the creditor. An open-end credit plan may not provide for attorney's
fees when the unpaid balance does not exceed three hundred dollars ($300), but may provide
for reasonable attorney's fees after default by the debtor when the unpaid balance exceeds
three hundred dollars ($300). In a consumer credit transaction contract where the original
amount financed exceeds ten thousand dollars ($10,000) or the...
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5-19-7
Section 5-19-7 Right to refinance amount of certain scheduled payments. With respect to a consumer
credit transaction, if any scheduled payment is more than one and one-half times as large
as the average of earlier scheduled payments, the debtor has the right to refinance the amount
of that payment at the time it is due without penalty. The terms of the refinancing shall
be no less favorable than the terms of the original transaction. The provisions of this section
do not apply if the debtor's payment schedule has been adjusted to conform with the seasonal
or irregular income of the debtor, or if a consumer credit transaction is repayable in a single
principal payment irrespective of the scheduled interest payments. (Acts 1971, No. 2052, p.
3290, §4; Acts 1989, No. 89-879, p. 1771, §1; Acts 1996, No. 96-576, p. 887, §2.)...
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5-19-20
Section 5-19-20 Insurance. (a) With respect to any consumer credit transaction, the creditor
shall not require any insurance other than insurance against loss of or damage to any property
in which the creditor is given a security interest and insurance insuring the lien of the
creditor on the property which is collateral for the transaction. (b) (1) Credit life and
disability and involuntary unemployment insurance may be offered and, if accepted, may be
provided by the creditor. The charge to the debtor for the insurance shall not exceed the
premium permitted for the coverages. Insurance with respect to any credit transaction shall
not exceed the approximate amount and term of the credit. (2) This subdivision (2) applies
to all consumer credit transactions entered into on or after June 19, 1996. If the consumer
credit transaction is scheduled to be repaid in substantially equal installments which include
a portion of the amount financed, the amount of credit life insurance at any time...
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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...
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5-19-1
Section 5-19-1 Definitions. For the purposes of this chapter, the following terms shall have
the following meanings respectively ascribed to them by this section: (1) FINANCE CHARGE.
The sum of all charges, payable directly or indirectly by the person to whom credit is extended,
and imposed directly or indirectly by the creditor as an incident to the extension of credit.
The amount of the finance charge in connection with any credit transaction (i) shall be determined,
and shall include and exclude the fees and charges, as provided by Section 106 of the Federal
Truth-in-Lending Act, 15 U.S.C. Section 1605 and the regulations of the Federal Reserve Board
promulgated pursuant to the Federal Truth-in-Lending Act, 12 C.F.R. Part 226, and the Official
Staff Commentary adopted by the Federal Reserve Board pursuant to that regulation, and without
limiting or affecting the foregoing subparagraph (i), (ii) shall exclude, without limitation,
late charges and other charges resulting from or...
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5-19-18
Section 5-19-18 Installment payment of debt of one thousand dollars or less. With respect to
consumer credit transactions, where the debt is payable in installments, not made pursuant
to an open-end credit plan and in which the original amount financed is one thousand dollars
($1,000) or less, the debt shall be scheduled to be payable in substantially equal installments
at equal periodic intervals, except to the extent that the schedule of payments is adjusted
to the seasonal or irregular income of the debtor or when the transaction is a single principal
payment obligation irrespective of the scheduled interest payments, and: (1) Over a period
of not more than 36 months and 15 days if the original amount financed is more than three
hundred dollars ($300); or (2) Over a period of not more than 24 months and 15 days if the
original amount financed is three hundred dollars ($300) or less. (Acts 1971, No. 2052, p.
3290, §14; Acts 1989, No. 89-879, p. 1771, §1; Acts 1996, No. 96-576, p....
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34-14A-15
Section 34-14A-15 Recovery fund. (a) The board may establish a Homeowners' Recovery Fund for
the purpose of consumer protection, consumer education, and consumer awareness. An aggrieved
homeowner may recover actual economic damages, not including interest and court costs, sustained
within the state as the direct result of conduct of a licensee in violation of this chapter
or the rules of the board from the Homeowners' Recovery Fund. Any payments from the Homeowners'
Recovery Fund shall be subject to the following limitations and conditions: (1) The Homeowners'
Recovery Fund shall make payments only to homeowners who file a complaint with the board pursuant
to the requirements of subsection (b) of Section 34-14A-8. (2) The Homeowners' Recovery Fund
shall not make payments based on consent judgments. (3) Failure of the homeowner to follow
any provisions of this chapter shall preclude payment from the Homeowners' Recovery Fund.
(b) The board, by rule, shall determine the maximum amount of...
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