HB297
174362-1:n:02/23/2016:LLR/tj LRS2016-727 HB297 By Representatives Garrett, Faulkner, Mooney,
Scott, Boyd, Melton, Forte, Knight, Beech, McCampbell, Morrow, Lawrence, Clarke, Warren, Drummond,
Fridy, Rowe, Shedd, Collins, Ledbetter and Pettus RFD Financial Services Rd 1 24-FEB-16 SYNOPSIS:
Existing law regulates deferred presentment services. This bill would allow the State Banking
Department to require an applicant for a license to engage in deferred presentment services
to apply through the Nationwide Multistate Licensing System and Registry and would require
a license for each location at which deferred presentment loans are made. This bill would
require a licensee who offers deferred presentment services to offer an extended repayment
option prior to the commencement of a civil action; would limit the fee that could be collected
on a check returned for insufficient funds; would provide for when the period of the deferred
presentment transaction begins and eliminate any additional...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/HB297.htm - 15K - Match Info - Similar pages

SB91
SB91 ENGROSSED By Senator Orr A BILL TO BE ENTITLED AN ACT To amend Sections 5-18A-3, 5-18A-6,
5-18A-12, and 5-18A-13, Code of Alabama 1975, relating to the business of deferred presentment
services; to increase the nonrefundable license fee and provide that one half of the increase
would be paid to the State Banking Department and one half to the General Fund; to expand
the licensure requirements for any person engaged in the business of deferred presentment
services to include services offered by mail, telephone, Internet, mobile device application,
or in person; to provide that a person who attempts to evade the licensure requirement for
the business of deferred presentment services would be guilty of a criminal offense; to provide
penalties; to further regulate the business of deferred presentment services by regulating
the fees, interest, number of loans, term of a loan, finance charges, and repayment of a loan;
and in connection therewith would have as its purpose or effect the...
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HB342
174690-1:n:02/24/2016:LLR/tj LRS2016-829 HB342 By Representative Todd RFD Financial Services
Rd 1 25-FEB-16 SYNOPSIS: Under existing law, a license is required for any person engaged
in the business of deferred presentment services. This bill would expand the licensure requirement
for persons engaged in the business of deferred presentment services to include services offered
by mail, telephone, Internet, mobile device application, or in person. This bill would increase
the nonrefundable license fee and provide that one half of the increase would be paid to the
State Banking Department and one half to the General Fund. This bill would provide that a
person who attempts to evade the licensure requirement for the business of deferred presentment
services would be guilty of a criminal offense and would provide penalties. This bill would
further regulate the business of deferred presentment services by regulating the fees, interest,
number of loans, term of a loan, finance charges, and...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/HB342.htm - 21K - Match Info - Similar pages

HB526
176321-1:n:04/06/2016:LLR/tj LRS2016-1308 HB526 By Representative Scott RFD Financial Services
Rd 1 12-APR-16 SYNOPSIS: This bill would create the Alabama Motor Vehicle Title Loan Act.
The bill would: Require licensure by the State Banking Department for a person to act as a
title loan lender; provide for the application for licensure; require a bond and a nonrefundable
application and investigation fee; provide for inactive licenses, renewal and reactivation
of licenses, a fee for the license, and for the denial, suspension, or revocation of licenses.
The bill would specify acts which constitute violations for which certain disciplinary actions
may be taken; would provide for the imposition of fines and criminal penalties; and would
provide remedies for title loans made or serviced without proper licensure. The bill would
establish requirements for a title loan agreement; would provide for reclaiming a repossessed
motor vehicle under certain circumstances; and would provide payment of...
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SB330
175097-1:n:03/07/2016:PMG/th LRS2016-916 SB330 By Senator Ward RFD Banking and Insurance Rd
1 08-MAR-16 SYNOPSIS: Under existing law, lenders of $1,000 or less are licensed and regulated
under the Alabama Small Loan Act. This bill would authorize non-bank lenders to issue short-term
unsecured loans, known as flex loans. This bill would provide for the licensure and regulation
of lenders of flex loans by the State Banking Department. This bill would establish the maximum
interest rate and maximum duration of a flex loan and provide for fees that may be charged
to a customer. This bill would set qualifications, including financial guarantees, for lenders
and provide civil penalties for violations by lenders. This bill would also authorize the
State Banking Department to enforce the provisions of this act and promulgate rules. A BILL
TO BE ENTITLED AN ACT Relating to short-term loans; to authorize non-bank lenders to issue
short-term unsecured loans, known as flex loans; to provide for...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/SB330.htm - 39K - Match Info - Similar pages

HB181
173937-1:n:02/10/2016:FC*/cj LRS2016-597 HB181 By Representative Martin RFD Insurance Rd 1
11-FEB-16 SYNOPSIS: Under existing law, insurance adjusters are defined to be representatives
of the insurance company and not of the insured. This bill would provide for the licensing
and regulation of public adjusters of insurance claims on behalf of insureds. A BILL TO BE
ENTITLED AN ACT Relating to insurance; to provide for the qualifications and procedures for
the licensing of public adjusters; to provide definitions and exceptions to the licensing
and registration requirements; to require public adjusters to take and pass a written examination,
with exception; to provide for nonresident licensing; to require public adjusters to complete
a minimum of 24 hours of continuing education on a biennial basis; to provide standards of
conduct for public adjusters; to require public adjusters to report administrative action
taken against them in other jurisdictions; to give the Commissioner of...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/HB181.htm - 53K - Match Info - Similar pages

HB326
173229-1:n:02/04/2016:PMG/mfc LRS2016-261 HB326 By Representatives Todd, Hall, Coleman, Moore
(M), Rogers, Jackson, England, Melton, Grimsley, Morrow, Beech, Buskey, Howard, Bracy, Polizos,
Drummond, Forte, Warren, Greer, Sessions, Gaston, Pringle, Collins, Nordgren, Rowe, Henry,
Treadaway and Harper RFD Financial Services Rd 1 25-FEB-16 SYNOPSIS: Under existing law, title
loan lenders are not licensed. This bill would provide for the licensure and regulation of
title loan lenders by the State Banking Department. This bill would prescribe maximum annual
interest rates for title loans. This bill would prescribe procedures when there is a default
of a title loan. This bill would prohibit the issuance of a title loan to a person under the
age of 19 years. This bill would provide for the enforcement of the act by fines and criminal
penalties. 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...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/HB326.htm - 47K - Match Info - Similar pages

SB301
173229-1:n:02/04/2016:PMG/mfc LRS2016-261 SB301 By Senator Orr RFD Fiscal Responsibility and
Economic Development Rd 1 24-FEB-16 SYNOPSIS: Under existing law, title loan lenders are not
licensed. This bill would provide for the licensure and regulation of title loan lenders by
the State Banking Department. This bill would prescribe maximum annual interest rates for
title loans. This bill would prescribe procedures when there is a default of a title loan.
This bill would prohibit the issuance of a title loan to a person under the age of 19 years.
This bill would provide for the enforcement of the act by fines and criminal penalties. 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 be to require a new or increased expenditure of local funds
from becoming effective with regard to a local governmental entity without...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/SB301.htm - 46K - Match Info - Similar pages

HB395
175645-1:n:03/15/2016:LLR/tj LRS2016-1093 HB395 By Representative Pringle RFD Financial Services
Rd 1 15-MAR-16 SYNOPSIS: This bill would regulate the providing of money or credit to a consumer
pursuant to an agreement under which the consumer is not prohibited from using the money or
credit for a purpose other than prosecuting a dispute, and under which repayment of the money
or credit is conditioned upon the consumer's recovery of money in a dispute or where recourse
against the consumer by the person providing the money or credit is limited exclusively or
primarily to the amount recovered by the consumer in a dispute. This bill would define provider
of money or credit as a consumer lawsuit lender. This bill would provide that each provision
of money or credit would be deemed to be a consumer loan and the maximum finance charge on
the loan would be as provided in this bill, regardless of the amount of the loan or credit
provided. This bill would require each consumer lawsuit lender...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/HB395.htm - 9K - Match Info - Similar pages

SB67
172512-1:n:11/16/2015:LLR/tj LRS2015-3247 SB67 By Senators Ward, Marsh and Reed RFD Judiciary
Rd 1 02-FEB-16 SYNOPSIS: This bill would regulate the providing of money or credit to a consumer
pursuant to an agreement under which the consumer is not prohibited from using the money or
credit for a purpose other than prosecuting a dispute, and under which repayment of the money
or credit is conditioned upon the consumer's recovery of money in a dispute or where recourse
against the consumer by the person providing the money or credit is limited exclusively or
primarily to the amount recovered by the consumer in a dispute. This bill would define provider
of money or credit as a consumer lawsuit lender. This bill would provide that each provision
of money or credit would be deemed to be a consumer loan and the maximum finance charge on
the loan would be as provided in this bill, regardless of the amount of the loan or credit
provided. This bill would require each consumer lawsuit lender to...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/SB67.htm - 9K - Match Info - Similar pages