Code of Alabama
Title 5 - Banks and Financial Institutions.
Chapter 18 - Small Loans.

Section 5-18-1 - Short Title. - This chapter shall be known and may be cited as...

Section 5-18-2 - Legislative Findings of Fact and Declaration of Intent. - (a) The Legislature finds as facts and determines that: (1)...

Section 5-18-3 - Definitions. - The following terms, when used in this chapter, shall have...

Section 5-18-4 - License - Required; Exemptions; Penalties for Violation of Section. - (a) License required. No person shall engage in the business...

Section 5-18-5 - License - Application; Fees; Disposition of Fees. - Application for a license shall be in writing, under oath...

Section 5-18-6 - License - Investigation of Application; Issuance or Denial of License. - (a) Investigation of application. - Upon the filing of such...

Section 5-18-7 - License - Contents; Posting; Continuing Effect. - (a) Contents of license; posting. - Each license shall state...

Section 5-18-8 - License - Place of Business of Licensee. - (a) Separate license for each place of business. - Not...

Section 5-18-9 - License - Revocation, Suspension, etc.; Investigation of Complaints. - (a) Revocation of license. - The supervisor shall, upon 10...

Section 5-18-10 - Examinations of Licensees; Investigations; Enforcement Powers of Supervisor. - (a) Annual examinations of licensees. At least once each year...

Section 5-18-11 - Books, Accounts and Records of Licensees; Annual Report. - (a) Books and records. -Each licensee shall keep and use...

Section 5-18-12 - Promulgation of Rules, Regulations and Orders by Supervisor; Furnishing of Certified Copies of Licenses, Regulations or Orders. - (a) Rules, regulations, and orders. - The supervisor shall have...

Section 5-18-13 - Advertising; Schedule of Charges. - (a) Advertising, etc. No licensee or other person subject to...

Section 5-18-14 - Conduct of Other Business in Office of Licensee; Loan Business Confined to Licensed Offices; Acceptance of Liens on Real Estate as Security for Loans. - (a) Other business in same office. - No licensee shall...

Section 5-18-15 - Interest Rates, Charges, and Fees. - THIS SECTION WAS AMENDED BY ACT 2022-207 IN THE 2022...

Section 5-18-15.1 - Additional Late Payment Charge. - Notwithstanding the provisions of subsection (e) of Section 5-18-15, for...

Section 5-18-16 - Duties of Licensees as to Making and Payment of Loans. - (a) Copy of contract or statement; receipts; payment in advance;...

Section 5-18-17 - Insurance in Connection With Credit Transaction. - (a) With respect to any insurance written in connection with...

Section 5-18-18 - Charges, Rates, etc., as to Certain Loans. - Licensees may charge to a borrower the rates permitted by...

Section 5-18-19 - Collection of Loans Made Outside State. - Any loans made outside this state in accordance with the...

Section 5-18-20 - Review of Orders, etc., of Supervisor. - In addition to any other remedy he may have, any...

Section 5-18-21 - Enforceability of Provisions and Agreements Which Violate Chapter; Liability of Licensee for Actual Damage. - Except where other specific remedies are provided in this chapter...

Section 5-18-22 - Modification, Amendment or Repeal of Chapter. - This chapter or any part thereof may be modified, amended...

Section 5-18-23 - Maintenance of Listing of Licensees Doing Business in State; Public Access to Reports, Etc. - (a) The supervisor shall cause to be kept on file...