Within 15 days of the occurrence of any one of the following events, a licensee shall file a written report with the supervisor describing the event and its expected impact on the activities of the licensee in this state:
(1) The filing for bankruptcy or reorganization by the licensee.
(2) The institution of revocation or suspension proceedings against the licensee by any state or governmental authority and subsequently the outcome of such proceeding.
(3) The denial of a license to engage in the deferred presentment services business by any state or governmental authority.
(4) Any felony indictment of the licensee or any of its directors, officers, or principals.
(5) Any felony conviction of the licensee or any of its directors, officers, or principals.
(6) All other events as the supervisor may determine and identify by regulation.
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.