reglab/housing_qa huggingface dataset:
AL Code § 5-26-11 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 26 - Alabama Secure and Fair Enforcement for Mortgage Licensing Act of 2009.|Section 5-26-11 - Authority to Require License.

Section 5-26-11Authority to require license. In addition to any other duties imposed upon the supervisor by law, the supervisor shall require mortgage loan originators to be licensed and registered through the Nationwide Mortgage Licensing System and Registry. In order to carry out this requirement the supervisor is authorized to participate in the Nationwide Mortgage Licensing System and Registry. For this purpose, the supervisor may establish by rule/regulation or order requirements as necessary, including but not limited to: (1) BACKGROUND CHECKS. Background checks for: (a) Criminal history through fingerprint or other databases; (b) Civil or administrative records; (c) Credit history; or (d) Any other information as deemed necessary by the Nationwide Mortgage Licensing System and Registry. (2) FEES. The payment of fees to apply for or renew licenses through the Nationwide Mortgage Licensing System and Registry; (3) SETTING DATES. The setting or resetting as necessary of renewal or reporting dates; and (4) OTHER. Requirements for amending or surrendering a license or any other such activities as the supervisor deems necessary for participation in the Nationwide Mortgage Licensing System and Registry. (Act 2009-627, p. 1907, §11.)
AL Code § 5-26-12 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 26 - Alabama Secure and Fair Enforcement for Mortgage Licensing Act of 2009.|Section 5-26-12 - Nationwide Mortgage Licensing System and Registry Information Challenge Process.

Section 5-26-12Nationwide Mortgage Licensing System and Registry information challenge process. The supervisor shall establish a process whereby mortgage loan originators may challenge information entered into the Nationwide Mortgage Licensing System and Registry. (Act 2009-627, p. 1907, §12.)
AL Code § 5-26-13 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 26 - Alabama Secure and Fair Enforcement for Mortgage Licensing Act of 2009.|Section 5-26-13 - Enforcement Authorities, Violations, and Penalties.

Section 5-26-13Enforcement authorities, violations, and penalties. (1) In order to ensure the effective supervision and enforcement of this chapter the supervisor may: (a) Deny, suspend, revoke, condition, or decline to renew a license for a violation of this chapter, rules or regulations issued under this chapter or order or directive entered under this chapter, or for failure to comply with any other state or federal law, including the rules and regulations thereunder, applicable to any business authorized or conducted under this act. (b) Deny, suspend, revoke, condition, or decline to renew a license if an applicant or licensee fails at any time to meet the requirements of Section 5-26-6 or Section 5-26-9, or withholds information or makes a material misstatement in an application for a license or renewal of a license. (c) Order restitution against persons subject to this chapter for violations of this chapter. (d) Impose fines on persons subject to this chapter pursuant to subsections (2), (3), and (4). (e) Issue orders or directives under this chapter as follows: (i) Order or direct persons subject to this chapter to cease and desist from conducting business, including immediate temporary orders to cease and desist. (ii) Order or direct persons subject to this chapter to cease any harmful activities or violations of this chapter, including immediate temporary orders to cease and desist. (iii) Enter immediate temporary orders to cease business under a license or interim license issued pursuant to the authority granted under Section 5-26-4(5) if the supervisor determines that such license was erroneously granted or the licensee is currently in violation of this chapter; (iv) Order or direct such other affirmative action as the supervisor deems necessary. (2) The supervisor may impose a civil penalty on a mortgage loan originator or person subject to this chapter, if the supervisor finds, on the record after notice and opportunity for hearing, that such mortgage loan originator or person subject to this chapter has violated or failed to comply with any requirement of this chapter or any regulation prescribed by the supervisor under this chapter or order issued under authority of this chapter. (3) The maximum amount of penalty for each act or omission described in subsection (2) shall be twenty-five thousand dollars ($25,000). (4) Each violation or failure to comply with any directive or order of the supervisor is a separate and distinct violation or failure. (5) A violation of this chapter or any order, rule, regulation, or procedure does not affect the obligation of a borrower or other person under the terms of a mortgage loan or the enforceability of mortgage loan documents. No private cause of action is created by or exists under this chapter. (Act 2009-627, p. 1907, §13.)
AL Code § 5-26-14 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 26 - Alabama Secure and Fair Enforcement for Mortgage Licensing Act of 2009.|Section 5-26-14 - Surety Bond Required.

Section 5-26-14Surety bond required. (1) Coverage, form and regulations. Each mortgage loan originator shall be covered by a surety bond in accordance with this section. In the event that the mortgage loan originator is an employee or exclusive agent of a person subject to the Alabama Consumer Credit Act or Mortgage Brokers Licensing Act, the surety bond of such person subject to the Alabama Consumer Credit Act or Mortgage Brokers Licensing Act can be used in lieu of the mortgage loan originator's surety bond requirement. (a) The surety bond shall provide coverage for each mortgage loan originator in an amount as prescribed in subsection (2). (b) The surety bond shall be in a form as prescribed by the supervisor. (c) The supervisor may promulgate rules or regulations with respect to the requirements for such surety bonds as are necessary to accomplish the purposes of this chapter. (2) Penal sum of surety bond. The penal sum of the surety bond shall be maintained in an amount that reflects the dollar amount of loans originated as determined by the supervisor. (3) Action on bond. When an action is commenced on a licensee's bond the supervisor may require the filing of a new bond. (4) New bond. Immediately upon recovery upon any action on the bond the licensee shall file a new bond. (Act 2009-627, p. 1907, §14.)
AL Code § 5-26-15 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 26 - Alabama Secure and Fair Enforcement for Mortgage Licensing Act of 2009.|Section 5-26-15 - Confidentiality.

Section 5-26-15Confidentiality. In order to promote more effective regulation and reduce regulatory burden through supervisory information sharing: (1) PROTECTIONS. Except as otherwise provided in Public Law 110-289, Section 1512, the requirements under any federal law regarding the privacy or confidentiality of any information or material provided to the Nationwide Mortgage Licensing System and Registry, and any privilege arising under federal or state law, including the rules of any federal or state court, with respect to such information or material, shall continue to apply to such information or material after the information or material has been disclosed to the Nationwide Mortgage Licensing System and Registry. Such information and material may be shared with all state and federal regulatory officials with mortgage industry oversight authority without the loss of privilege or the loss of confidentiality protections provided by federal or state law. (2) AGREEMENTS AND SHARING ARRANGEMENTS. For these purposes, the supervisor is authorized to enter agreements or sharing arrangements with other governmental agencies, the Conference of State Bank Supervisors, the American Association of Residential Mortgage Regulators, or other associations representing governmental agencies as established by rule, regulation, or order of the supervisor. (3) NONAPPLICABILITY OF CERTAIN REQUIREMENTS. Information or material that is subject to a privilege or confidentiality under subsection (1) shall not be subject to: (a) Disclosure under any federal or state law governing the disclosure to the public of information held by an officer or an agency of the federal government or the respective state; or (b) Subpoena or discovery, or admission into evidence, in any private civil action or administrative process, unless with respect to any privilege held by the Nationwide Mortgage Licensing System and Registry with respect to such information or material, the person to whom such information or material pertains waives, in whole or in part, in the discretion of such person, that privilege.  (4) COORDINATION WITH STATE LAW. Existing Alabama law relating to the disclosure of confidential supervisory information or any information or material described in subsection (1) that is inconsistent with subsection (1) shall be superseded by the requirements of this section. (5) PUBLIC ACCESS TO INFORMATION. This section shall not apply with respect to the information or material relating to the employment history of, and publicly adjudicated disciplinary and enforcement actions against, mortgage loan originators that is included in the Nationwide Mortgage Licensing System and Registry for access by the public. (Act 2009-627, p. 1907, §15.)
AL Code § 5-26-17 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 26 - Alabama Secure and Fair Enforcement for Mortgage Licensing Act of 2009.|Section 5-26-17 - Prohibited Acts and Practices.

Section 5-26-17Prohibited acts and practices. It is a violation of this chapter for a person or individual subject to this chapter to:  (1) Obtain property by intentional fraud or intentional misrepresentation; (2) Solicit or enter into a contract with a borrower that provides in substance that the person or individual subject to this chapter may earn a fee or commission through "best efforts" to obtain a loan even though no loan is actually obtained for the borrower; (3) Conduct any business covered by this chapter without holding a valid license if required under this chapter; (4) Fail to make disclosures as required by this chapter; (5) Fail to comply with this chapter or rules or regulations promulgated under this chapter; (6) Collect, charge, or attempt to collect or charge any fee prohibited by this chapter; or (7) Fail to account for monies belonging to a party to a residential mortgage loan transaction, as required by law or regulation. (Act 2009-627, p. 1907, §17.)
AL Code § 5-26-18 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 26 - Alabama Secure and Fair Enforcement for Mortgage Licensing Act of 2009.|Section 5-26-18 - Mortgage Call Reports.

Section 5-26-18Mortgage call reports. Each person employing a mortgage loan originator licensed under this chapter shall submit to the Nationwide Mortgage Licensing System and Registry reports of condition, which shall be in such form and shall contain such information as the Nationwide Mortgage Licensing System and Registry may require. (Act 2009-627, p. 1907, §18.)
AL Code § 5-26-19 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 26 - Alabama Secure and Fair Enforcement for Mortgage Licensing Act of 2009.|Section 5-26-19 - Report to Nationwide Mortgage Licensing System and Registry.

Section 5-26-19Report to Nationwide Mortgage Licensing System and Registry. Notwithstanding state privacy law, the supervisor is required to report regularly violations of this chapter as well as enforcement actions and other relevant information to the Nationwide Mortgage Licensing System and Registry, subject to the provisions contained in Section 5-26-15. (Act 2009-627, p. 1907, §19.)
AL Code § 5-26-20 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 26 - Alabama Secure and Fair Enforcement for Mortgage Licensing Act of 2009.|Section 5-26-20 - Unique Identifier Shown.

Section 5-26-20Unique identifier shown. The unique identifier of any person originating a residential mortgage loan shall be clearly shown on all residential mortgage loan application forms, solicitations, or advertisements, including business cards or websites, and any other documents as established by rule, regulation, or order of the supervisor. (Act 2009-627, p. 1907, §20.)
AL Code § 5-27-1 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 27 - Savings Promotion Contest|Section 5-27-1 - (Effective January 1, 2018) Legislative Findings.

Section 5-27-1(Effective January 1, 2018) Legislative findings. The Legislature finds and declares the following: (1) Federal law allows both depository financial institutions and credit unions to hold savings promotion contests, subject to certain conditions and authorization under state law. (2) Savings promotion contests in other states and countries have led to an increase in the number and amount of funds in personal savings accounts. (3) Savings promotion contests encourage people to save money by adding a feature to personal savings accounts that includes a chance to win prizes. (4) Savings promotion contests are not lotteries because they do not require individuals to pay consideration for a chance to win a prize, and the individual maintains ownership of the money that is deposited into a savings account or other qualifying account. (5) The prizes are funded through the interest that accrues across the pool of savings accounts participating in the promotion contest. (6) It is in the best interest of the citizens of Alabama to encourage increases in personal savings accounts. (Act 2017-406, §1.)
AL Code § 5-27-2 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 27 - Savings Promotion Contest|Section 5-27-2 - (Effective January 1, 2018) Definitions.

Section 5-27-2(Effective January 1, 2018) Definitions. When used in this chapter, the following words and phrases shall have the following meanings: (1) APPROPRIATE STATE OR FEDERAL REGULATORY AGENCY. The state or federal agency that is statutorily responsible for the supervision of all or part of the operations of a participating financial institution. (2) DEPOSITOR. An individual member or customer of a financial institution who meets all of the following requirements: a. Maintains a qualifying account at a financial institution participating in a savings promotion contest. b. Is in good standing at a financial institution authorized to do business in Alabama. c. Is 18 years of age or older. (3) ENTRY. A chance or chances obtained by a depositor to win a designated prize or prizes in a savings promotion contest by complying with the terms and conditions of a savings promotion contest. (4) FINANCIAL INSTITUTION. A bank, savings institution, or credit union authorized to do business in Alabama under federal or state law. (5) PARTICIPATING FINANCIAL INSTITUTION. A financial institution, as defined above, that is sponsoring a savings promotion contest. (6) QUALIFYING ACCOUNT. A savings account or other savings product that is offered by a participating financial institution and that meets all of the following requirements: a. Allows deposits to be made by a depositor. b. Is evidenced by periodic statements that are delivered to the depositor or are available to the depositor through electronic access. c. Has an interest rate that is similar to, and not less than, the interest rates of other comparable nonqualifying accounts. (7) SAVINGS PROMOTION ACCOUNT. A contest or promotion sponsored by a financial institution or a group of financial institutions in which a chance of winning designated prizes is obtained by a depositor when the depositor either: a. Deposits a specified amount of money or makes a specified number of deposits into the depositor's qualifying account. b. Participates in one or more savings products or programs. (Act 2017-406, §2.)
AL Code § 5-27-3 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 27 - Savings Promotion Contest|Section 5-27-3 - (Effective January 1, 2018) Savings Promotion Contest Authorized; Conditions.

Section 5-27-3(Effective January 1, 2018) Savings promotion contest authorized; conditions. (a) Subject to supervision by the appropriate federal or state regulatory agency, a financial institution may conduct a savings promotion contest in accordance with this chapter for the purposes of encouraging depositors to maintain savings accounts and increase personal savings. The financial institution may join with other financial institutions to participate in a savings promotion or contest. (b) A savings promotion contest shall be subject to all of the following conditions: (1) Subject to any limits the financial institution may place on the number of entries that may be placed by the depositor, it is structured such that a depositor may place an entry to win a prize or prizes by doing either of the following: a. Depositing a minimum specified amount of money or making a specified number of deposits into a qualifying account in accordance with the terms and conditions of the specific savings promotion contest. b. Participating in one or more savings products or programs according to the terms and conditions of the savings promotion contest. (2) The participating financial institution complies with all applicable consumer protection laws. (3) No consideration is required as payment for a chance at winning the prize or prizes. For purposes of this subdivision, a depositor does not pay consideration if, as a requirement of participating in the savings promotion contest, the financial institution requires the depositor to deposit a specified amount of money or make a specified number of deposits into his or her account or participate in one or more savings programs or products involving his or her accounts. (4) Each entry has an equal chance of being chosen as the winning entry. (5) Participating depositors are not required to be present at a drawing in order to win a prize. (6) The participating financial institution maintains books and records necessary to facilitate an audit of the savings promotion contest and, upon written request, provides those records to the appropriate federal or state regulatory authority. (7) The savings promotion contest is conducted in a manner that protects the safety and soundness of the financial institution and does not mislead depositors. (8) The financial institution posts online the terms and conditions of the savings promotion contest and lists each location where entries may be submitted. (9) No fees or charges may be applied to a qualifying account that would not be applied to a substantially similar nonqualifying account. (Act 2017-406, §3.)
AL Code § 5-27-4 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 27 - Savings Promotion Contest|Section 5-27-4 - (Effective January 1, 2018) Oversight.

Section 5-27-4(Effective January 1, 2018) Oversight. Each savings promotion contest is subject to oversight by the federal or state agency responsible for regulating the financial institution, and the regulatory agency may issue cease and desist orders relating to a savings promotion contest offered by a financial institution which it regulates if the regulatory agency concludes, based on substantial evidence, that the financial institution is engaging in unsafe or unsound practices or that the financial institution has violated any law or rule, condition, or agreement of the regulatory agency.  (Act 2017-406, §4.)
AL Code § 5-27-5 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 27 - Savings Promotion Contest|Section 5-27-5 - (Effective January 1, 2018) Construction; Limitation on Prizes or Awards.

Section 5-27-5(Effective January 1, 2018) Construction; limitation on prizes or awards. A savings promotion contest offered pursuant to this chapter does not constitute gambling or the promotion of gambling or a lottery or raffle pursuant to Section 65 of the Constitution of Alabama of 1901. No prize or award shall exceed twelve thousand five hundred dollars ($12,500). (Act 2017-406, §5.)
AL Code § 5-28-1 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 28 - Libor Discontinuance and Replacement Act of 2021|Section 5-28-1 - This Section Was Assigned by the Code Commissioner in the 2021 Regular Session, Effective April 29, 2021. This Is Not in the Current Code Supplement.

Section 5-28-1THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2021 REGULAR SESSION, EFFECTIVE APRIL 29, 2021. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.  This chapter shall be known and may be cited as the LIBOR Discontinuance and Replacement Act of 2021. (Act 2021-323, §1.)
AL Code § 5-28-5 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 28 - Libor Discontinuance and Replacement Act of 2021|Section 5-28-5 - This Section Was Assigned by the Code Commissioner in the 2021 Regular Session, Effective April 29, 2021. This Is Not in the Current Code Supplement.

Section 5-28-5THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2021 REGULAR SESSION, EFFECTIVE APRIL 29, 2021. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.  If any provision of this chapter or application thereof to any person or circumstance is held invalid, the invalidity shall not affect other provisions or applications of this chapter that can be given effect without the invalid provision or application, and to this end the provisions of this chapter shall be severable. (Act 2021-323, §1.)
AL Code § 6-1-1 (2021)
2021 Code of Alabama|Title 6 - Civil Practice.|Chapter 1 - General Provisions.|Section 6-1-1 - Practice and Procedure in Certain Courts Not Affected by Repeal, etc., of Prior Statutes; Rules of Supreme Court Not Affected by Adoption of Code.

Section 6-1-1Practice and procedure in certain courts not affected by repeal, etc., of prior statutes; rules of Supreme Court not affected by adoption of Code. (a) Statutes in effect immediately prior to the adoption of this Code relating to practice and procedure in any court of this state in which the practice and procedure is not governed by the Alabama Rules of Civil Procedure shall not be repealed, altered, amended, modified, or otherwise affected by the adoption of this Code; provided, that this section shall not be construed to prevent the repeal, amendment, or modification of any such statutes by act of the Legislature or by rules promulgated by the Supreme Court of Alabama. (b) The adoption of the 1975 Code of Alabama shall not repeal, alter, amend, or modify any rule governing civil procedure heretofore promulgated by the Supreme Court of Alabama. (Acts 1977, No. 20, §2.)
AL Code § 6-1-2 (2021)
2021 Code of Alabama|Title 6 - Civil Practice.|Chapter 1 - General Provisions.|Section 6-1-2 - Effect of Rules of Supreme Court of Alabama.

Section 6-1-2Effect of rules of Supreme Court of Alabama. Any provisions of this title regulating procedure shall apply only if the procedure is not governed by the Alabama Rules of Civil Procedure, the Alabama Rules of Appellate Procedure, or any other rule of practice and procedure as may be adopted by the Supreme Court of Alabama. (Acts 1977, No. 20, §2.)