reglab/housing_qa huggingface dataset:
AL Code § 8-7A-9 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 7A - Alabama Monetary Transmission Act.|Section 8-7A-9 - Renewal of License.

Section 8-7A-9Renewal of license. (a) All licenses under this chapter shall expire on March 31 of the calendar year. (b) A licensee under this chapter shall pay an annual renewal fee no later than March 15. The renewal fee shall be established by rule of the commission and shall not be less than five hundred dollars ($500). (c) A licensee under this chapter shall submit a renewal report with the renewal fee, in a form and in a medium prescribed by the commission. The renewal report shall contain the following information: (1) A copy of the licensee's most recent audited financial statement. (2) The number and monetary value of payment and stored-value instruments sold by the licensee in this state which have not been included in a previous renewal report, and the monetary amount of payment and stored-value instruments currently outstanding. (3) A description of each material change in information submitted by the licensee in its original license application which has not been reported to the commission. (4) Proof that the licensee continues to maintain adequate security as required by Section 8-7A-7. (5) A list of the locations in this state where the licensee or an authorized delegate of the licensee engages in money transmission. (d) The renewal license shall become immediately effective upon the expiration of the current license if the licensee has submitted the renewal fee pursuant to subsection (b) and the required reports pursuant to subsection (c) to the commission. (e) If the licensee fails to renew the license prior to March 31, the licensee shall have 20 days from the expiration date to submit the renewal fee and report required pursuant to subsections (b) and (c), plus a late fee of one hundred dollars ($100) for each day between expiration of the license and submission of the renewal report. If the licensee perfects renewal of the license prior to the expiration of the 20 days, the license renewal shall be effective on April 1, and the licensee shall not be liable for unlicensed monetary transmission during the period between the statutory expiration date and the date the renewal is perfected. (f) The commission, for good cause, may grant an extension of the renewal date. (Act 2017-389, §2.)
AL Code § 8-7A-10 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 7A - Alabama Monetary Transmission Act.|Section 8-7A-10 - Net Worth.

Section 8-7A-10Net worth. A licensee under this chapter shall maintain a net worth of at least twenty-five thousand dollars ($25,000) determined in accordance with generally accepted accounting principles. (Act 2017-389, §2.)
AL Code § 8-7A-11 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 7A - Alabama Monetary Transmission Act.|Section 8-7A-11 - Relationship Between Licensee and Authorized Delegate.

Section 8-7A-11Relationship between licensee and authorized delegate. (a) A contract between a licensee and an authorized delegate shall require the authorized delegate to operate in full compliance with this chapter. (b) The licensee shall establish, furnish, and enforce policies and procedures sufficient to ensure that its authorized delegates comply with this chapter. (c) An authorized delegate may not use a subdelegate to conduct money transmission on behalf of a licensee. (Act 2017-389, §2.)
AL Code § 8-7A-12 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 7A - Alabama Monetary Transmission Act.|Section 8-7A-12 - Examinations.

Section 8-7A-12Examinations. (a) The commission may conduct an annual examination of a licensee or of any of its authorized delegates. (b) The commission may examine a licensee or its authorized delegate, at any time, if the commission has reason to believe that the licensee or authorized delegate is engaging in an unsafe or unsound practice or has violated or is violating this chapter or any rule adopted or order issued under this chapter. (c) If the commission concludes that an on-site examination is necessary under subsection (b), the licensee shall pay the reasonable cost of the examination. (d) Information obtained during any examination under this chapter may be disclosed only as prescribed in Section 8-7A-21. (Act 2017-389, §2.)
AL Code § 8-7A-13 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 7A - Alabama Monetary Transmission Act.|Section 8-7A-13 - Reports.

Section 8-7A-13Reports. (a) A licensee shall file a report to the commission within 15 business days of any material change in information provided in a licensee's application. (b) A licensee shall file a report with the commission within five business days after the licensee has reason to know of the occurrence of any of the following events:  (1) The filing of a petition by or against the licensee under the United States Bankruptcy Code for bankruptcy or reorganization. (2) The filing of a petition by or against the licensee for receivership, the commencement of any other judicial or administrative proceeding for its dissolution or reorganization, or the making of a general assignment for the benefit of its creditors. (3) The commencement of a proceeding to revoke or suspend its license in a state or country in which the licensee engages in business or is licensed. (4) The cancellation or other impairment of the licensee's bond or other security. (5) A charge or conviction of the licensee or of an executive officer, manager, commission, or other control person of the licensee for a felony. (6) A charge or conviction of an authorized delegate of the licensee for a felony. (7) The executive officers, managers, directors, an authorized delegate, or persons in control of the licensee are named in any material civil litigation or class action. (c) (1) A licensee shall give notice of a proposed change of control within 15 days after learning of the proposed change in control. (2) The commission shall approve a request for change of control if, after investigation, the commission determines that the person or group of persons requesting approval has the competence, experience, character, and general fitness to operate the licensee or person in control of the licensee in a lawful and proper manner and that the public interest will not be jeopardized by the change of control.  (3) The commission shall approve or deny a request for change of control within 120 days after the notice. If the request has not been approved or denied within 120 days, the request will be deemed to have been approved and will take effect on the first day after the expiration of the 120 days. (d) A licensee and an authorized delegate shall maintain a file of all reports required by federal currency reporting, record keeping, and suspicious transaction reporting requirements as set forth in 31 U.S.C. Section 5311 (1994), and other federal and state laws pertaining to money laundering. If an investigation or other inquiry is initiated by any regulatory authority, the licensee shall immediately notify the commission and forward all records associated with such investigation or inquiry. (Act 2017-389, §2.)
AL Code § 8-7A-14 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 7A - Alabama Monetary Transmission Act.|Section 8-7A-14 - Records.

Section 8-7A-14Records. (a) A licensee shall maintain all of the following records for determining its compliance with this chapter: (1) A record of each payment instrument or stored-value obligation sold. (2) A general ledger posted at least monthly containing all assets, liabilities, capital, income, and expense accounts. (3) Bank statements and reconciliation records. (4) Records of outstanding payment instruments and stored-value obligations. (5) Records of each payment instrument and stored-value obligation paid within a five-year period. (6) A list of names and addresses of all of the licensee's authorized delegates. (7) Any other record the commission requires by rule. (b) The records referenced in subsection (a) shall be maintained by the licensee for a minimum of five years. Records may be maintained outside of the state.  (c) All records of a licensee, authorized delegate, or applicant shall be subject to reasonable, periodic, or special examination, at any time or from time to time, whether the records are located within or outside of this state, as the commission deems necessary or appropriate to the public interest. The licensee shall make any record available for inspection by the commission within five business days of the request.  (Act 2017-389, §2.)
AL Code § 8-7A-15 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 7A - Alabama Monetary Transmission Act.|Section 8-7A-15 - Suspension and Revocation.

Section 8-7A-15Suspension and revocation. (a) The commission, by order, may suspend or revoke a license or order a licensee to revoke the designation of an authorized delegate, with or without prior notice, if the commission finds that such an order is in the best interest of the public, and any of the following circumstances exist: (1) The licensee has violated any provision of this chapter or a rule adopted or an order issued under this chapter. (2) The licensee, or any authorized delegate, does not cooperate with an examination or investigation by the commission. (3) The licensee, or any authorized delegate, engaged in fraud, intentional misrepresentation, or gross negligence. (4) An authorized delegate is convicted of a violation of a state or federal anti-money laundering statute, or willfully violates a rule adopted or an order issued under this chapter. (5) The competence, experience, character, or general fitness of the licensee, authorized delegate, or a control person of a licensee indicates that it is not in the public interest to permit the person to provide money transmission services. (6) The licensee becomes insolvent, suspends payment of its obligations, or makes a general assignment for the benefit of its creditors. (7) The licensee engages in an unsafe or unsound practice. In determining whether a licensee is engaging in an unsafe or unsound practice, the commission may consider the size and financial condition of the licensee's money transmission business, the magnitude of any losses, the severity of the violation of this chapter, and the previous disciplinary history of the person involved. (b) The commission may issue an order suspending or revoking the designation of an authorized delegate, if the commission finds that such order is in the best interest of the public, and any of the following circumstances exist: (1) The authorized delegate has violated any provision of this chapter or a rule adopted or an order issued under this chapter. (2) The authorized delegate does not cooperate with an examination or investigation by the commission. (3) The authorized delegate engaged in fraud, intentional misrepresentation, or gross negligence. (4) An authorized delegate is convicted of a violation of a state or federal anti-money laundering statute, or willfully violates a rule adopted or an order issued under this chapter. (5) The competence, experience, character, or general fitness of the authorized delegate indicates that it is not in the public interest to permit the person to provide money transmission services. (6) The authorized delegate engages in an unsafe or unsound practice. In determining whether a licensee is engaging in an unsafe or unsound practice, the commission may consider the size and financial condition of the licensee's money transmission business, magnitude of any losses, severity of the violation of this chapter, and previous disciplinary history of the person involved. (Act 2017-389, §2.)
AL Code § 8-7A-16 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 7A - Alabama Monetary Transmission Act.|Section 8-7A-16 - Unauthorized Activities.

Section 8-7A-16Unauthorized activities. A person may not provide monetary transmission services on behalf of a person required to be licensed who is not licensed under this chapter. The commission, by rule or order, may further define unauthorized activities. (Act 2017-389, §2.)
AL Code § 8-7A-17 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 7A - Alabama Monetary Transmission Act.|Section 8-7A-17 - Orders to Cease and Desist and Other Injunctive or Civil Relief.

Section 8-7A-17 Orders to cease and desist and other injunctive or civil relief. (a) If the commission determines that any person has engaged in or is about to engage in any act or practice constituting a violation of this chapter or a rule adopted or an order issued under this chapter, the commission, in its discretion, may do any of the following: (1) Issue an order, with or without a prior hearing or notice, against the person or persons engaged in the act or practice, directing them to cease and desist from engaging in the act or practice. (2) Issue an order appointing a receiver or conservator over a respondent or the respondent's assets. (3) Order restitution or disgorgement against any person who has violated this chapter or any rule adopted or order issued pursuant to this chapter. (4) Bring an action in any court of competent jurisdiction to enjoin an act or practice and to enforce compliance with this chapter or any rule adopted or order issued hereunder. Upon a proper showing, the court may issue a temporary restraining order or permanently enjoin any unlawful act or practice. (b) The commission shall not be required to post a bond. (Act 2017-389, §2.)
AL Code § 8-7A-18 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 7A - Alabama Monetary Transmission Act.|Section 8-7A-18 - Consent Orders.

Section 8-7A-18Consent orders. The commission may enter into a consent order at any time with a person to resolve a matter arising under this chapter or a rule adopted or order issued under this chapter. A consent order must be signed by the person to whom it is issued or by the person's authorized representative, and must indicate agreement with the terms contained in the order. (Act 2017-389, §2.)
AL Code § 8-7A-19 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 7A - Alabama Monetary Transmission Act.|Section 8-7A-19 - Civil Penalties.

Section 8-7A-19Civil penalties. (a) The commission may assess a civil penalty against a person that violates this chapter or a rule adopted or an order issued under this chapter in an amount not to exceed one thousand dollars ($1,000) per day for each day the violation is outstanding. (b) In addition to the assessment in subsection (a), the commission may assess a charge for the actual cost of any investigation resulting from any violation of this chapter, a violation of any rule or order issued under this chapter, or the cost of any examination made by the commission pursuant to this chapter, to the person or persons subject to such investigation or examination. All assessments collected under this subsection shall be deposited in the Alabama Securities Commission Fund in the State Treasury to be drawn upon by the commission for its use in administration of this chapter. (Act 2017-389, §2.)
AL Code § 8-7A-20 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 7A - Alabama Monetary Transmission Act.|Section 8-7A-20 - Criminal Penalties.

Section 8-7A-20Criminal penalties. (a) A person that intentionally makes a false statement, misrepresentation, or false certification in a record filed or required to be maintained under this chapter or that intentionally makes a false entry or omits a material entry in such a record, upon conviction, shall be guilty of a Class D felony.  (b) A person that knowingly engages in an activity for which a license is required under this chapter without being licensed under this chapter and who receives more than five thousand dollars ($5,000) in compensation within a one-year period from this activity, upon conviction, shall be guilty of a Class C felony.  (c) A person that knowingly engages in an activity for which a license is required under this chapter without being licensed under this chapter and who receives no more than five thousand dollars ($5,000) in compensation within a one-year period from this activity, upon conviction, shall be guilty of a Class D felony.  (d) The enforcement of this chapter shall be vested in the commission. It is the duty of the commission to enforce this chapter and to investigate, prevent, and detect violations of this chapter. The commission is vested with the rights, privileges, and powers conferred by law upon district attorneys, including the power to appear before grand juries and to interrogate witnesses before such grand jury. A district attorney may empower the commission to proceed on its behalf in any proceeding under this chapter.  (e) In any proceeding under this chapter, scienter need not be alleged and proved in prosecutions of violations involving unlicensed money transmission.  (f) A proceeding under this chapter shall not preempt or foreclose any criminal action or liability which may arise under any other criminal provision of the Code of Alabama 1975. (Act 2017-389, §2.)
AL Code § 8-7A-21 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 7A - Alabama Monetary Transmission Act.|Section 8-7A-21 - Confidentiality.

Section 8-7A-21Confidentiality. (a) Except as otherwise provided in subsection (b), all information or reports obtained by the commission from the applicant, licensee, or authorized delegate and all information contained in or related to examination, investigation, operation, or condition reports prepared by, or on behalf of, or for the use of the commission, are confidential and are not subject to disclosure under Section 36-12-40. (b) The commission may disclose information not otherwise subject to disclosure under subsection (a) to representatives of state and federal agencies, provided the agencies submit an undertaking to maintain the confidentiality of the information in a record. (c) This section does not prohibit the commission from disclosing to the public a list of persons licensed under this chapter or the aggregated financial data concerning those licensees. (Act 2017-389, §2.)
AL Code § 8-7A-22 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 7A - Alabama Monetary Transmission Act.|Section 8-7A-22 - Cooperation.

Section 8-7A-22Cooperation. The commission may consult and cooperate with other federal and state agencies in enforcing and administering this chapter. The commission may jointly pursue examinations and take other official action that it is otherwise empowered to take. (Act 2017-389, §2.)
AL Code § 8-7A-23 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 7A - Alabama Monetary Transmission Act.|Section 8-7A-23 - Investigation and Subpoenas by Commission.

Section 8-7A-23Investigation and subpoenas by commission. (a) The commission may do any of the following: (1) Make such public or private investigations within or outside of this state as it deems necessary to determine whether: Any license under this chapter should be granted, denied, suspended, or revoked; any person has violated or is about to violate any provision of this chapter or any rule or order hereunder; or to aid in the enforcement of this chapter or in the prescribing of rules and forms hereunder. (2) Require or permit any person to file a statement in writing, under oath, or otherwise as the commission may determine, as to all the facts and circumstances concerning the matter to be investigated. (3) Publish information concerning any violation of this chapter or any rule or order hereunder. (b) In relation to any investigation or proceeding under this chapter, the commission, or any officer designated, may administer oaths and affirmations, subpoena witnesses, compel their attendance, take evidence, and require the production of any books, papers, correspondence, memoranda, agreements, or other documents or records which the commission deems relevant to the inquiry. (c) In case of refusal to obey a subpoena, upon application by the commission, any court of competent jurisdiction may issue an order to the person failing to obey the subpoena requiring that person to appear before the commission or the officer designated by it, to produce documentary evidence if so ordered, or to give evidence touching the matter under investigation or in question. The court may hold any person who fails to obey an order of the court in contempt of court. (d) No person is excused from attending and testifying or from producing any document or record before the commission or any officer designated by it, in any proceeding instituted by the commission, on the ground that the testimony or evidence, documentary or otherwise, required of the person may tend to incriminate him or her or subject him or her to a penalty or forfeiture. No individual may be prosecuted or subjected to any penalty or forfeiture using or based on information he or she offered after asserting such privilege, except that the individual so testifying shall not be exempt from prosecution and punishment for perjury committed in so testifying. Nothing in this section shall prohibit the commission from prosecuting any person compelled to testify or provide evidence, if the commission has sufficient evidence, derived from other sources not discovered, derived, or revealed from such compelled testimony or evidence, to sustain a prosecution for a violation under this chapter. (Act 2017-389, §2.)
AL Code § 8-7A-24 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 7A - Alabama Monetary Transmission Act.|Section 8-7A-24 - Party Aggrieved by Order Entitled to Hearing Before Commission; Appeals From Action of Commission.

Section 8-7A-24Party aggrieved by order entitled to hearing before commission; appeals from action of commission. (a) Any person aggrieved by an order issued under this chapter shall be entitled to a hearing, as authorized for contested cases, pursuant to the Administrative Procedure Act, Chapter 22 of Title 41, if the aggrieved person, within 28 days after delivery of the order, submits a written request for a hearing before the commission. The order shall disclose the right to a hearing upon written request within 28 days after delivery of the order. If no timely request for a hearing is made, the order shall constitute a final order of the commission. (b) Any appeal from any final order of the commission shall be made to the Circuit Court of Montgomery County and shall be governed by the provisions of the Administrative Procedure Act pertaining to judicial review. (Act 2017-389, §2.)
AL Code § 8-7A-25 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 7A - Alabama Monetary Transmission Act.|Section 8-7A-25 - Burden of Proving an Exemption or an Exception From a Definition.

Section 8-7A-25Burden of proving an exemption or an exception from a definition. In any proceeding under this chapter, the burden of proving an exemption or an exception from a definition is upon the person claiming it. (Act 2017-389, §2.)