SB284
183291-2:n:03/07/2017:JMH/th LRS2017-1008R1 SB284 By Senators Orr and Smitherman RFD Judiciary Rd 1 07-MAR-17 SYNOPSIS: Under existing law, the maximum rate of interest on a small loan is three percent a month on amounts not more than $200 and two percent a month for amounts in excess of $200, and the maximum term of the small loan is limited to 25 months. Under existing law, in lieu of these interest rates, the lender may utilize an alternative rate of charge that consists of an acquisition fee of up to 10 percent of the principal and a monthly installment handling fee. Under existing law, the maximum term of a small loan on which the alternative rate of charge may be utilized is 12 months. This bill would provide that the minimum term for a small loan in which the lender is charging the alternative rate is six months. This bill would prohibit the lender from collecting an additional acquisition charge if the loan is refinanced within the first six months. Under existing law, the term...
alisondb.legislature.state.al.us/alison/searchableinstruments/2017RS/bills/SB284.htm - 36K - Match Info - Similar pages
SB404
185932-1:n:04/26/2017:JMH/tgw LRS2017-1928 SB404 By Senator Whatley RFD Banking and Insurance Rd 1 27-APR-17 SYNOPSIS: Under existing law, a person who engages in the business of deferred presentment services must be licensed by the State Banking Department. Under existing law, when a deferred presentment services transaction becomes due, the licensee may renew or extend the transaction for one additional term. After one renewal or extension, the licensee may not enter into a new transaction with the customer until the next business day after the previous transaction is paid in full. Under existing law, if the customer is unable to pay upon the expiration of the initial term and one renewal or extension, the licensee may offer an extended repayment plan of four equal monthly installments. This bill would clarify that a person may not engage in the business of deferred presentment services with a consumer in this state by mail, telephone, over the Internet, or in person without a...
alisondb.legislature.state.al.us/alison/searchableinstruments/2017RS/bills/SB404.htm - 20K - Match Info - Similar pages
HB535
Rep(s). By Representatives Garrett, Coleman, Faulkner and Todd HB535 ENGROSSED A BILL TO BE ENTITLED AN ACT Relating to deferred presentment services; to amend Sections 5-18A-2, 5-18A-3, 5-18A-12, and 5-18A-13, Code of Alabama 1975; to clarify that no person may engage in the business of deferred presentment services by mail, telephone, over the Internet, or in person without a license; to specify that certain transactions in violation are void; to provide for hours of operation of a deferred presentment services business; to prohibit renewal or extension of a deferred presentment transaction at the expiration of the initial term; to provide further for a repayment plan; to limit the extension of a new deferred presentment services transaction until a certain time after repayment and the extension of a new transaction while the customer is utilizing a repayment plan; to require a licensee to notify the customer of the availability of other products in certain circumstances; and to...
alisondb.legislature.state.al.us/alison/searchableinstruments/2017RS/bills/HB535.htm - 18K - Match Info - Similar pages
SB249
182044-2:n:02/13/2017:FC/tgw LRS2017-585R1 SB249 By Senators Dial, Whatley, Ward, Livingston, Waggoner, Shelnutt, Albritton, Holley, Beasley and Smith RFD Banking and Insurance Rd 1 28-FEB-17 SYNOPSIS: Under existing law, the Alabama Small Loan Act authorizes licensed lenders to make loans up to $1,000 subject to interest rates and charges provided by law. This bill would authorize licensed lenders under the act to make loans up to $1500 and adjust the interest rates for loans based on the lending authority. This bill would also provide a minimum three-month term on loans and a maximum term of 18 months. A BILL TO BE ENTITLED AN ACT Relating to the Alabama Small Loan Act; to amend Sections 5-18-4, 5-18-10, 5-18-13, and 5-18-15, Code of Alabama 1975, to increase the lending authority and further provide for the interest rates; and to provide further for the minimum and maximum term of loans. BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:Section 1. Sections 5-18-4, 5-18-10, 5-18-13, and...
alisondb.legislature.state.al.us/alison/searchableinstruments/2017RS/bills/SB249.htm - 24K - Match Info - Similar pages
HB314
Rep(s). By Representatives Johnson (K), Collins, Martin, Shiver, Lee, Moore (B), Brown, Rogers, Rowe, Hammon, Carns, Davis, Wood, Greer, Nordgren, Black, Williams (JW), Clouse, Drake, Ellis, Ford, Crawford, Butler, Blackshear, Scott, Patterson, Wadsworth, Weaver and Wingo HB314 ENROLLED, An Act, Relating to the Alabama Small Loan Act; to amend Sections 5-18-4, 5-18-10, 5-18-13, and 5-18-15, Code of Alabama 1975, to increase the lending authority and further provide for the interest rates; and to provide further for the minimum and maximum term of loans. BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:Section 1. Sections 5-18-4, 5-18-10, 5-18-13, and 5-18-15, Code of Alabama 1975, are amended to read as follows: ยง5-18-4. "(a) License required. No person shall engage in the business of lending in amounts of less than one thousand dollars ($1,000) one thousand five hundred dollars ($1500) and contract for, exact or receive, directly or indirectly, on or in connection with any such loan, any...
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SB302
SB302 ENGROSSED By Senators Ward and Albritton A BILL TO BE ENTITLED AN ACT Relating to the finance and construction of prisons; to amend the heading of Chapter 101A (commencing with Section 11-101A-1) of Title 11 and Sections 11-101A-1, 11-101A-2, 11-101A-4, and 11-101A-8 of and to add Section 11-101A-8.1 to the Code of Alabama 1975; to authorize counties and municipalities to create authorities to construct prisons; to authorize the Department of Corrections to enter into a lease of up to three prisons from authorities; to amend Sections 14-2-1, 14-2-6, 14-2-12, 14-2-13.1, 14-2-14, 14-2-16, 14-2-19, 14-2-21, 14-2-28, and 14-2-34, Code of Alabama 1975, to allow the Alabama Corrections Institution Finance Authority to issue up to $350 million in bonds for the purpose of the renovation of existing prison facilities and the construction of a new prison upon the lease of two prison facilities from a local authority; to revise the membership of the authority; to require reporting to the...
alisondb.legislature.state.al.us/alison/searchableinstruments/2017RS/bills/SB302.htm - 80K - Match Info - Similar pages
HB374
182171-1:n:03/07/2017:JMH/mfc LRS2017-438 HB374 By Representative England RFD Commerce and Small Business Rd 1 07-MAR-17 SYNOPSIS: Under existing law, Alabama has adopted the Uniform Condominium Act, which provides provisions for the creation, management, and termination of a condominium association. This bill would make modifications to the Uniform Condominium Act. This bill would specify further the rights of the developer and rights of the unit owner with regard to a condominium that is part of a condominium association. A BILL TO BE ENTITLED AN ACT Relating to the Uniform Condominium Act; to amend Sections 35-8A-102, 35-8A-103, 35-8A-105, 35-8A-106, 35-8A-107, 35-8A-201, 35-8A-205, 35-8A-208, 35-8A-209, 35-8A-210, 35-8A-211, 35-8A-214, 35-8A-215, 35-8A-218, 35-8A-220, 35-8A-302, 35-8A-303, 35-8A-304, 35-8A-305, 35-8A-307, 35-8A-310, 35-8A-311, 35-8A-312, 35-8A-313, 35-8A-314, 35-8A-315, 35-8A-316, 35-8A-317, 35-8A-318, 35-8A-401, 35-8A-402, 35-8A-403, 35-8A-404, 35-8A-406,...
alisondb.legislature.state.al.us/alison/searchableinstruments/2017RS/bills/HB374.htm - 112K - Match Info - Similar pages
SB67
181310-1:n:01/17/2017:JET*/th LRS2017-178 SB67 By Senators Coleman-Madison, Smitherman, Beasley, Figures and Pittman RFD Fiscal Responsibility and Economic Development Rd 1 07-FEB-17 SYNOPSIS: Under current law, each entity, subject to the Alabama corporate income tax, is required to file a separate return and calculate the income tax on its separately accounted for taxable income, regardless whether the entity is part of a larger business that consists of an affiliated group of entities. This filing method allows large corporate taxpayers to take advantage of tax planning options to shift income to other entities within the affiliated group located in tax favorable states. Most large corporate businesses consist of a parent corporation and a number of corporate subsidiaries. This bill would amend the corporate income tax law to require the operations of all related entities, involved in a unitary business, file one corporate income tax return on a combined basis, known as combined...
alisondb.legislature.state.al.us/alison/searchableinstruments/2017RS/bills/SB67.htm - 63K - Match Info - Similar pages
HB545
183337-2:n:04/20/2017:JET/cj LRS2017-1807R1 HB545 By Representative Farley RFD Judiciary Rd 1 20-APR-17 SYNOPSIS: Under existing law, the Alabama Corrections Institution Finance Authority is authorized to issue bonds for prison construction purposes. The authority is required to construct facilities using plans and specifications of architects or engineers, or both. This bill would also allow the authority to issue bonds up to $100,000,000 to purchase, renovate, and equip the existing Perry County facility, the Julia Tutwiler Prison for Women and existing regional or other prison facilities and would require the competitive bidding of all contracts for renovations. This bill would require increased reporting to the Joint Legislative Prison Committee. This bill would provide for the creation of capital improvement cooperative districts by counties and municipalities for the renovation, expansion, maintenance, and operation of county and municipal jail facilities to house state inmates....
alisondb.legislature.state.al.us/alison/searchableinstruments/2017RS/bills/HB545.htm - 56K - Match Info - Similar pages
HB472
183688-2:n:04/06/2017:JMH/mfc LRS2017-839R1 HB472 By Representative Poole RFD Judiciary Rd 1 06-APR-17 SYNOPSIS: Under existing law, the Alabama Partnership Act governs the formation, powers, governance, and dissolution of partnerships in the state. This bill would revise the Alabama Partnership Act and would specify that the procedures for formation, powers, governance, and dissolution are applicable to limited liability limited partnerships, limited liability partnerships, foreign limited liability partnerships, and foreign limited liability partnerships that function in the state. This bill would make conforming changes elsewhere in the business entities law. A BILL TO BE ENTITLED AN ACT Relating to business entities; to amend Section 10A-1-1.02, Section 10A-1-1.03, as amended by Act 2016-379, 2016 Regular Session, Sections 10A-1-1.06, 10A-1-1.08, 10A-1-1.12, 10A-1-2.02, 10A-1-3.06, 10A-1-3.17, 10A-1-3.32, 10A-1-3.33, 10A-1-3.41, 10A-1-4.01, 10A-1-4.02, 10A-1-4.25, 10A-1-4.31,...
alisondb.legislature.state.al.us/alison/searchableinstruments/2017RS/bills/HB472.htm - 341K - Match Info - Similar pages
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