(a) With respect to any insurance written in connection with any credit transaction under this chapter, the creditor shall be subject to the same restrictions, prohibitions, powers, and allowances as any creditor bank, retail establishment, sales finance company, licensee, or any other creditor under Section 5-19-20, and shall be subject to the same rates and regulations promulgated pursuant to that section.
(b) Insurance sold by a licensee or its agents shall be regulated by the Supervisor of the Bureau of Loans. All insurance shall be written by a company authorized to conduct business in the State of Alabama.
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.