(a) In addition to other lawful charges permitted under various state or federal laws, except under open-end credit plans, a creditor may, if provided in the contract, charge an account maintenance fee of not more than three dollars ($3) for each month of the scheduled period of repayment of the credit transaction. The account maintenance fee shall be determined at the date of the credit transaction and may be charged in full at that time. The account maintenance fee as so determined shall not bear interest and shall constitute a part of the finance charge. In the event of the renewal, refinance, or payment in full of the credit transaction, the debtor shall be entitled to a refund or credit of any unearned portion of the account maintenance fee under subsection (c) of Section 5-19-4, as of the date of such renewal, refinancing, or payment in full.
(b) This section shall not repeal, amend, modify, or diminish any right or power to charge and collect charges, fees, interest, or an interest surcharge existing under any other applicable state or federal statute, nor repeal, amend, or modify Public Law 96-221, enacted by the United States Congress and approved March 31, 1980, nor Section 5-2A-24.
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.