(a) The provisions of this chapter, except the provisions of subdivision (1) of Section 5-19-1 and Section 5-19-3, shall not apply (i) to any consumer credit transaction or other transaction involving an interest in real property or the sale, lease, or mortgage of an interest in real property where the creditor is exempt from licensing under this chapter, (ii) where the credit transaction is not a consumer transaction, (iii) where the credit transaction is by a trust institution as defined in Section 5-12A-1(1), in its capacity as a fiduciary under any plan or agreement qualified under 26 U.S.C. 401(a) or defined by 5 U.S.C. 8437, 26 U.S.C. 403(b), or 26 U.S.C. 457, or a trust exempt under 26 U.S.C. 501, or (iv) to any municipal pension system created under the laws of the State of Alabama. The provisions of this chapter shall not apply where the credit transaction is a policy loan made by a life insurance company licensed by this state or any other state.
(b) This chapter shall not be construed to amend or repeal, without limitation, Sections 5-18-1 through 5-18-24, inclusive, Section 8-8-6, Section 8-8-4, Section 8-8-5, Sections 8-8-1.1, 8-8-14, 8-8-15, or Sections 5-20-2 through 5-20-10, inclusive.
(c) This chapter shall not apply to any lawful, bona fide pawnbroking business.
(d) This chapter shall not apply to any insurance agent or agency licensed in Alabama that elects to charge a collection fee on unpaid balances for insurance premiums under Section 27-12-17. An election shall be made by stating such on the premium finance contract.
Structure Code of Alabama
Title 5 - Banks and Financial Institutions.
Chapter 19 - Consumer Finance.
Section 5-19-1.1 - Legislative Findings.
Section 5-19-5 - Acceptance of Negotiable Instruments as Evidence of Consumer Debt.
Section 5-19-7 - Right to Refinance Amount of Certain Scheduled Payments.
Section 5-19-8 - Assignee of Seller Subject to Claims and Defenses of Buyer.
Section 5-19-10 - Contract Provisions for Attorney's Fees.
Section 5-19-12 - Buyer's Right to Cancel Home Solicitation Sale.
Section 5-19-14 - Rebates or Discounts, etc., as Inducement for Aiding Sale to Another Prohibited.
Section 5-19-15 - Garnishment.
Section 5-19-16 - Refusal by Court to Enforce Unconscionable Agreement.
Section 5-19-18 - Installment Payment of Debt of One Thousand Dollars or Less.
Section 5-19-24 - Examinations and Investigations of Licensees by Administrator.
Section 5-19-29 - Injunctions.
Section 5-19-30 - Penalty for Violations.