(a) Advertising, etc. No licensee or other person subject to this chapter shall advertise, display, distribute, or broadcast or cause to permit to be advertised, displayed, distributed, or broadcast in any manner whatsoever any false, misleading, or deceptive statement or representation with regard to the rates, terms, or conditions for loans in the amount or of the value of less than one thousand five hundred dollars ($1,500). The supervisor may require that charges or rates of charge, if stated by a licensee, be stated fully and clearly in such manner as he or she may deem necessary to prevent misunderstanding thereof by prospective borrowers. The supervisor may permit or require licensees to refer in their advertising to the fact that their business is under state supervision, subject to conditions imposed by him or her to prevent an erroneous impression as to the scope or degree of protections provided by this chapter.
(b) Schedule of charges. Each licensee shall conspicuously display in each licensed place of business a full and accurate schedule of the rates of charge upon all classes of loans currently to be made by him or her.
Structure Code of Alabama
Title 5 - Banks and Financial Institutions.
Section 5-18-2 - Legislative Findings of Fact and Declaration of Intent.
Section 5-18-4 - License - Required; Exemptions; Penalties for Violation of Section.
Section 5-18-5 - License - Application; Fees; Disposition of Fees.
Section 5-18-6 - License - Investigation of Application; Issuance or Denial of License.
Section 5-18-7 - License - Contents; Posting; Continuing Effect.
Section 5-18-8 - License - Place of Business of Licensee.
Section 5-18-9 - License - Revocation, Suspension, etc.; Investigation of Complaints.
Section 5-18-10 - Examinations of Licensees; Investigations; Enforcement Powers of Supervisor.
Section 5-18-11 - Books, Accounts and Records of Licensees; Annual Report.
Section 5-18-13 - Advertising; Schedule of Charges.
Section 5-18-15 - Interest Rates, Charges, and Fees.
Section 5-18-15.1 - Additional Late Payment Charge.
Section 5-18-16 - Duties of Licensees as to Making and Payment of Loans.
Section 5-18-17 - Insurance in Connection With Credit Transaction.
Section 5-18-18 - Charges, Rates, etc., as to Certain Loans.
Section 5-18-19 - Collection of Loans Made Outside State.
Section 5-18-20 - Review of Orders, etc., of Supervisor.
Section 5-18-22 - Modification, Amendment or Repeal of Chapter.