This chapter shall be known and may be cited as the "Deferred Presentment Services Act." The purpose of this chapter is to protect consumers who enter into short-term cash advances from abuses that occur in the marketplace. This chapter shall be liberally construed to effectuate its purpose as a consumer protection statute.
Structure Code of Alabama
Title 5 - Banks and Financial Institutions.
Chapter 18A - Deferred Presentment Services Act.
Section 5-18A-1 - Short Title; Purpose.
Section 5-18A-2 - Definitions.
Section 5-18A-3 - License - Required; Applicability.
Section 5-18A-4 - License - Qualifications.
Section 5-18A-5 - License - Application.
Section 5-18A-6 - License - Fees; Financial Statement.
Section 5-18A-7 - License - Issuance; Display; Payment of Fees; Surrender.
Section 5-18A-8 - License - Change of Control.
Section 5-18A-9 - Circumstances Requiring Written Report.
Section 5-18A-10 - Rules and Regulations; Judicial Review.
Section 5-18A-12 - Transaction Fees; Renewal or Extension; Repayment; Bad Check Charge.
Section 5-18A-13 - Duties of Licensee.
Section 5-18A-14 - Denial of Application; Hearing.
Section 5-18A-15 - Suspension or Revocation of License; Hearing.
Section 5-18A-16 - Violations of Chapter.
Section 5-18A-17 - Consent Orders; Civil or Criminal Penalties; Extraordinary Circumstances.
Section 5-18A-18 - Written Complaint; Investigation; Compliance With Subpoena.
Section 5-18A-19 - Public Notice of Provisions.
Section 5-18A-20 - Excessive Charges.
Section 5-18A-21 - Disposition of Funds.
Section 5-18A-22 - Claims Preceding Effective Date of Chapter.