reglab/statecodes huggingface dataset:
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-9 - Application of Payments When Buyer Indebted to Same Seller for Two or More Consumer Credit Sales.

Section 5-19-9
Application of payments when buyer indebted to same seller for two or more consumer credit sales.
When the buyer is indebted to a particular seller for two or more consumer credit sales of goods and the goods which were the subject of two or more sales secure the buyer's total debt to the seller, the security shall be discharged by applying the buyer's payments as they are received by the seller or the seller's assignee to the portions of the debt in the order in which they were incurred. To the extent that debts are paid according to the preceding sentence, security interests in items of property terminate as the debt originally incurred with respect to each item is paid. Payments received by the seller upon a revolving charge account are deemed, for the purpose of determining the amount of the debt secured by the various security interests, to have been applied first to the payment of finance charges in the order of their entry to the account and then to the payment of debts in the order in which the entries to the account showing the debts were made. If the debts consolidated arose from two or more consumer sales made on the same day, payments received by the seller are deemed, for the purpose of determining the amount of the debt secured by the various security interests, to have been applied first to the payment of the smallest debt. This section shall not apply to two or more consumer credit sales made by the same seller to the same buyer when the debts have been assigned to different and unrelated persons for value and the assignment was bona fide and not for the purpose of violating this section.
(Acts 1971, No. 2052, p. 3290, §5; Acts 1996, No. 96-576, p. 887, §2.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-10 - Contract Provisions for Attorney's Fees.

Section 5-19-10
Contract provisions for attorney's fees.
A contract for a consumer credit transaction with an original amount financed not exceeding three hundred dollars ($300) may not provide for payment by the debtor of attorney's fees after default by the debtor. A contract for a consumer credit transaction with an original amount financed exceeding three hundred dollars ($300) may provide for the payment by the debtor of reasonable attorney's fees not exceeding 15 percent of the unpaid debt after default and referral of the contract to an attorney who is not a salaried employee of the creditor. An open-end credit plan may not provide for attorney's fees when the unpaid balance does not exceed three hundred dollars ($300), but may provide for reasonable attorney's fees after default by the debtor when the unpaid balance exceeds three hundred dollars ($300). In a consumer credit transaction contract where the original amount financed exceeds ten thousand dollars ($10,000) or the credit transaction is secured by real property, the creditor may require the payment by the debtor of attorney's fees prior to default by the debtor in connection with the closing of, amendment to, or modification of the credit transaction, provided that the attorney is not a salaried employee of the creditor.
(Acts 1971, No. 2052, p. 3290, §6; Acts 1996, No. 96-576, p. 887, §2.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-12 - Buyer's Right to Cancel Home Solicitation Sale.

Section 5-19-12
Buyer's right to cancel home solicitation sale.
(a) A buyer has the right to cancel a home solicitation sale until midnight of the third business day following execution by the buyer of an agreement or offer to purchase, which notice is effective when delivered or when deposited in the mail properly addressed to the seller, postage prepaid. The seller must deliver to the buyer and obtain the buyer's written signature to a written agreement or offer to purchase designating as the date of the transaction the date on which the buyer actually signs and containing the following under the conspicuous caption:
"BUYER'S RIGHT TO CANCEL"
"If this agreement was solicited at your residence and you do not want the goods or services, you may cancel this agreement by delivering or mailing a notice to the seller. The notice must say that you are cancelling the agreement and must be delivered or mailed before midnight of the third business day after you sign this agreement. The notice must be delivered or mailed to:
_______________________________________________."
(insert name and mailing address of seller)
Alternately, the seller may deliver to the buyer the notice required by the Federal Trade Commission Trade Regulation Rule concerning Cooling-Off Period for Sales Made at Homes or at Certain Other Locations, Title 16, Code of Federal Regulations, Part 429, as amended from time to time, which shall satisfy the notice requirement of this section. Until the seller has complied with this section the buyer may cancel the home solicitation sale within one year after the date of the sale by notifying the seller in any manner and by any means of the buyer's intention to cancel.
(b) The buyer has a duty to take reasonable care of the goods in the buyer's possession before cancellation and for a reasonable time thereafter, during which time the goods are otherwise at seller's risk. Within 10 days after a home solicitation sale has been cancelled or an offer to purchase revoked, the seller must tender to the buyer any payments made or goods traded in by the buyer, or the amount equal to the trade-in allowance stated in the agreement, and any note or other evidence of debt. Within a reasonable time thereafter the buyer, upon demand, must tender at the buyer's residence to the seller any goods delivered by the seller. If the seller fails to demand such possession within 20 days after receipt of the notice, the goods become the property of the buyer without obligation to pay for them.
(c) The provisions of this section shall not apply if the buyer furnishes the seller with a separate dated and signed personal statement describing an emergency requiring immediate remedy and modifying or waiving his right to cancel. The use of printed forms for this purpose is prohibited.
(Acts 1971, No. 2052, p. 3290, §8; Acts 1996, No. 96-576, p. 887, §2.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-13 - Repossession or Acceptance of Surrender of Goods Priced at One Thousand Dollars or Less.

Section 5-19-13
Repossession or acceptance of surrender of goods priced at one thousand dollars or less.
If any seller or assignee of the seller repossesses or voluntarily accepts surrender of goods sold in which the seller or assignee has a security interest and the original cash price of the goods repossessed or surrendered was one thousand dollars ($$1,000) or less, the buyer is not personally liable to the seller or assignee for the unpaid balance of the debt arising from the sale and the seller or assignee is not obligated to sell the collateral.
(Acts 1971, No. 2052, p. 3290, §9; Acts 1996, No. 96-576, p. 887, §2.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-14 - Rebates or Discounts, etc., as Inducement for Aiding Sale to Another Prohibited.

Section 5-19-14
Rebates or discounts, etc., as inducement for aiding sale to another prohibited.
With respect to a consumer credit sale, the seller may not give or offer to give a rebate or discount, or otherwise pay or offer to pay value to the buyer, as an inducement for a sale in consideration of the buyer giving to the seller the names of prospective purchasers, or otherwise aiding the seller in making a sale to another person, if the earning of the rebate, discount, or other value is contingent upon the occurrence of an event subsequent to the time the buyer agrees to buy. If a buyer is induced by a violation of this section to enter into a consumer credit sale, the agreement is unenforceable by the seller and the buyer, at the buyer's option, may rescind the agreement or retain the goods delivered and the benefit of any services performed without any obligation to pay for them.
(Acts 1971, No. 2052, p. 3290, §10; Acts 1996, No. 96-576, p. 887, §2.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-15 - Garnishment.

Section 5-19-15
Garnishment.
Prior to entry of judgment on a consumer credit transaction, the creditor may not attach unpaid earnings of the debtor by garnishment. Notwithstanding the garnishment procedure otherwise applicable after judgment, with respect to a consumer credit transaction, the amount of unpaid earnings of the debtor subject to garnishment shall not exceed the lesser of:
(1) Twenty-five percent of the debtor's disposable earnings for that week; or
(2) The amount by which the debtor's disposable earnings for that week exceed 30 times the federal minimum hourly wage in effect when payable.
"Disposable earnings" means that part of the earnings of a debtor remaining after deduction of amounts required by law to be withheld, and disposable earnings shall not include periodic payments pursuant to a pension, retirement, or disability program.
(Acts 1971, No. 2052, p. 3290, §11; Acts 1988, No. 88-294, p. 454, §1; Acts 1996, No. 96-576, p. 887, §2.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-16 - Refusal by Court to Enforce Unconscionable Agreement.

Section 5-19-16
Refusal by court to enforce unconscionable agreement.
With respect to a consumer credit transaction, if the court as a matter of law finds the contract or any provision of the contract to have been unconscionable at the time it was made, the court may refuse to enforce the contract, or it may enforce the remainder of the contract without the unconscionable provision, or it may so limit the application of any unconscionable provision as to avoid any unconscionable result.
(Acts 1971, No. 2052, p. 3290, §12; Acts 1996, No. 96-576, p. 887, §2.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-17 - Inducing Obligation on More Than One Contract in Order to Obtain Higher Finance Charge Prohibited; Consolidation of Existing Precomputed Consumer Credit Transaction Contract and Subsequent Precomputed Consumer Credit Transaction.

Section 5-19-17
Inducing obligation on more than one contract in order to obtain higher finance charge prohibited; consolidation of existing precomputed consumer credit transaction contract and subsequent precomputed consumer credit transaction.
(a) No creditor shall induce or permit any person or any husband and wife, jointly or severally, to become obligated directly or contingently, or both, on more than one consumer credit transaction at the same time for the purpose of obtaining a higher finance charge than would otherwise be permitted by Section 5-19-3. This subsection shall not apply to the maintenance of two or more separate consumer credit transactions where the consumer credit transactions were created on different dates.
(b) It shall be unlawful for any seller to evade or attempt to evade this section by inducing a buyer to become obligated to another creditor in which the initial creditor has a pecuniary interest or with whom the initial creditor has an arrangement for exchange of customers.
(c) Subsection (a) does not obligate a creditor to allow any person to maintain two or more contracts or accounts. Effective June 19, 1996, an existing precomputed consumer credit transaction contract and a subsequent precomputed consumer credit transaction document may be consolidated provided that the consumer cannot be required to consolidate the contracts as a condition for the extension of credit nor can the creditor be required to extend credit; and provided further, that if such contracts are consolidated, the annual percentage rate resulting from the consolidation can be no greater than the annual percentage rate on the prior existing consumer credit transaction contract nor can the consumer be charged any duplicate fees or expenses that originated in the existing consumer credit transaction contract, provided, however, that finance charges and other charges and fees rebated in accordance with applicable law and those charges as permitted by Section 5-19-4(f) and UCC filing fees or nonfiling insurance premiums in lieu thereof are excluded from this provision. Nothing herein restricts a creditor from renewing or refinancing an existing consumer credit transaction contract.
(Acts 1971, No. 2052, p. 3290, §13; Acts 1996, No. 96-576, p. 887, §2.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-18 - Installment Payment of Debt of One Thousand Dollars or Less.

Section 5-19-18
Installment payment of debt of one thousand dollars or less.
With respect to consumer credit transactions, where the debt is payable in installments, not made pursuant to an open-end credit plan and in which the original amount financed is one thousand dollars ($1,000) or less, the debt shall be scheduled to be payable in substantially equal installments at equal periodic intervals, except to the extent that the schedule of payments is adjusted to the seasonal or irregular income of the debtor or when the transaction is a single principal payment obligation irrespective of the scheduled interest payments, and:
(1) Over a period of not more than 36 months and 15 days if the original amount financed is more than three hundred dollars ($300); or
(2) Over a period of not more than 24 months and 15 days if the original amount financed is three hundred dollars ($300) or less.
(Acts 1971, No. 2052, p. 3290, §14; Acts 1989, No. 89-879, p. 1771, §1; Acts 1996, No. 96-576, p. 887, §2.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-23 - License to Engage in Business of Making Consumer Loans or Taking Assignments of Consumer Credit Contracts - Revocation or Suspension.

Section 5-19-23
License to engage in business of making consumer loans or taking assignments of consumer credit contracts - Revocation or suspension.
(a) The administrator may issue to a person licensed under this chapter an order to show cause why his license should not be revoked or suspended for a period not in excess of six months. The order shall state the place for a hearing and set a time for the hearing that is not less than 10 days from the date of the order. At such hearing, the licensee shall be entitled to counsel.
(b) After the hearing, the administrator:
(1) Shall revoke the license if he finds that:
a. The licensee has repeatedly and willfully violated this chapter or any rule or order lawfully made pursuant to this chapter; or
b. Facts or conditions exist which would clearly have justified the administrator in refusing to grant a license had such facts or conditions been known to exist at the time the application of the license was made.
(2) May suspend the license if he finds that the licensee has violated this chapter or any rule or order lawfully made pursuant to this chapter.
(Acts 1971, No. 2052, p. 3290, §23.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-24 - Examinations and Investigations of Licensees by Administrator.

Section 5-19-24
Examinations and investigations of licensees by administrator.
(a) For the purpose of determining compliance with this chapter, the administrator may, at any reasonable time, cause an examination to be made at the licensee's place of business of the records and transactions of such licensee. As cost of examination, the licensee shall pay the administrator an examination fee as provided by Section 5-2A-24 which shall be collected and paid into the special fund provided by Section 5-2A-20 and used in the supervision and examination of licensees. Each licensee shall preserve all relevant records for a period of at least two years after making the last entry on any transaction, and the administrator shall have free access thereto at the licensee's place of business at all reasonable times. If the administrator has probable cause to believe that a person has engaged in an activity which violates the provisions of this chapter, the administrator may compel the production of such books and records of the person as he or she has probable cause to believe are relevant to the alleged violation.
(b) If the person's records are located outside this state, the person may either make them available to the administrator at a convenient location within this state, or pay the reasonable and necessary expenses for the administrator or a representative of the administrator to examine them at the place where they are maintained. The administrator may designate representatives, including comparable officials of the state in which the records are located, to inspect them on his or her behalf.
(c) Reports of examinations and investigations, all working papers related thereto and the books and records of licensees, are to be held strictly confidential, and may not be produced, reproduced, or otherwise made available by the State Banking Department to any persons other than those within the State Banking Department and the licensee, and their respective counsel. This subsection does not apply to disclosures in proceedings brought by the administrator pursuant to this chapter.
(d) A licensee's books and records may be maintained, produced, and reproduced for examination by photostatic, photographic, microphotographic, optical imaging, or by any other generally recognized process for data storage and reproduction.
(e) Nothing contained herein shall prohibit discovery of these materials by and through a lawfully issued subpoena from a court of competent jurisdiction.
(Acts 1971, No. 2052, p. 3290, §19; Acts 1996, No. 96-576, p. 887, §2.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-25 - Cease and Desist Orders by Administrator; Penalties for Violation of This Chapter; Right to Counsel at Hearing; Judicial Review.

Section 5-19-25
Cease and desist orders by administrator; penalties for violation of this chapter; right to counsel at hearing; judicial review.
After notice and hearing, the administrator may order a licensee under this chapter or a person acting on behalf of the licensee to cease and desist from engaging in violations of this chapter. A creditor who is found by the administrator, after notice and hearing, to have violated this chapter may be ordered by the administrator to pay a civil penalty in an amount determined by the administrator of not more than ten thousand dollars ($10,000) in the aggregate for all violations of a similar nature or, where violations are knowing violations, of not more than fifty thousand dollars ($50,000), in addition to any other penalties provided by law, including, but not limited to, license revocation. Violations shall be of a similar nature if the violations consist of the same or substantially the same course of action or practice irrespective of the number of times the course of action or practice occurred. All civil penalties collected shall be paid into the special fund provided by Section 5-2A-20 and used in the supervision and examination of licensees. At the hearing, the licensee shall be entitled to be represented by counsel. A licensee aggrieved by an order of the administrator under this section may obtain judicial review of the order and the administrator may obtain an order of the court for enforcement of its order in the circuit court. The proceedings shall be governed by the provisions of Section 5-19-26.
(Acts 1971, No. 2052, p. 3290, §20; Acts 1996, No. 96-576, p. 887, §2.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-26 - Appeals to Circuit Court From Order of Administrator; Appeals From Decision of Circuit Court.

Section 5-19-26
Appeals to circuit court from order of administrator; appeals from decision of circuit court.
(a) Any interested party or intervener may appeal an order of the administrator to the Circuit Court of Montgomery County or to the circuit court of the county in which such party has its principal place of business in Alabama by filing notice of appeal with the administrator and with the register or clerk of the circuit court within 30 days from the date of said final order. The administrator's findings shall be prima facie correct, but the circuit court may hear such appeal according to its own rules and procedure, including the taking of additional testimony and staying the order. In the circuit court, the trial shall be de novo. The court may, if it decides that the Administrator has erred to the prejudice of appellant's substantial rights in its application of the law or that the order was based upon findings of fact contrary to the substantial weight of the evidence, remand the proceeding to the administrator for further action in conformity with the direction of the court or may enter such order as the court deems appropriate.
(b) Either party may appeal from the circuit court to the Supreme Court within 42 days from the date of entry of the order of the circuit court.
(Acts 1971, No. 2052, p. 3290, §21.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-29 - Injunctions.

Section 5-19-29
Injunctions.
(a) The administrator may bring an action to restrain a creditor or a person acting in his behalf from engaging in any business subject to licensing under subsection (a) of Section 5-19-22 without first obtaining a license therefor as provided in Section 5-19-22 and a licensee or any person acting in his behalf from engaging in violations of this chapter or engaging in a course of fraudulent or unconscionable conduct in inducing debtors to enter credit transactions or in the collection of debts.
(b) With respect to an action brought to enjoin violations of the chapter or fraudulent or unconscionable conduct, the administrator may apply to the court for appropriate temporary relief against a defendant, pending final determination of the proceedings. If the court finds, after a hearing held upon notice to the defendant, that there is reasonable cause to believe that the defendant is engaging in or is likely to engage in conduct which violates this chapter or which is fraudulent or unconscionable, it may grant any temporary relief or restraining order it deems appropriate.
(Acts 1971, No. 2052, p. 3290, §22.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-30 - Penalty for Violations.

Section 5-19-30
Penalty for violations.
A creditor who willfully makes charges in excess of those permitted by Section 5-19-3 or a creditor who willfully engages in the business of making loans in violation of subsection (a) of Section 5-19-22, or both, is guilty of a misdemeanor and, upon conviction, shall be sentenced to pay a fine not exceeding five hundred dollars ($500) or to imprisonment not exceeding one year, or both.
(Acts 1971, No. 2052, p. 3290, §24; Acts 1982, No. 82-521, p. 869, §1; Acts 1996, No. 96-576, p. 887, §2.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-31 - Nonapplicability of Chapter to Certain Transactions; Certain Laws Not Repealed or Amended.

Section 5-19-31
Nonapplicability of chapter to certain transactions; certain laws not repealed or amended.
(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.
(Acts 1971, No. 2052, p. 3290, §25; Acts 1989, No. 89-541, p. 1132, §1; Acts 1994, No. 94-118, p. 146, §1; Acts 1996, No. 96-576, p. 887, §2; Act 2002-307, p. 873, §1; Act 2009-625, p. 1900, §1.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-32 - Service Contracts.

Section 5-19-32
Service contracts.
Any creditor who extends credit with respect to a consumer credit sale, may sell or finance, or both, a service contract covering tangible goods which are the subject of the consumer credit sale. Any other person who was not the creditor with regard to the initial sale of the tangible goods also may sell or finance, or both, a service contract covering the tangible goods. A "service contract" as used in this section is an agreement, for a separately stated consideration, of the service contract offeror to correct, repair, or replace, or to pay for the correction, repair, maintenance, or replacement of tangible goods during the period covered by the service contract, with or without additional provisions for payment of or indemnity under limited circumstances for related expenses including, without limitation, for towing, rental, and emergency road service, whether called a service contract, extended warranty or otherwise. The service contract offeror need not be the seller or creditor. The service contract may be offered, sold, and financed at the time of the credit sale or at any time thereafter, including, without limitation, at or about the time of the expiration of any original warranty or the expiration of the period covered by the service contract. The service contract may, but is not required to, be renewable from time to time as set forth in the service contract. A service contract does not constitute insurance for any purpose, other than for the purpose of a service contract holder's claim against a service contract provider for failure to comply with the provisions of the service contract if so provided by other law.
(Acts 1996, No. 96-576, p. 887, §3.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19 - Consumer Finance. › Section 5-19-33 - Account Maintenance Fee.

Section 5-19-33
Account maintenance fee.
(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.
(Act 2006-238, §§1, 2.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19A - Alabama Pawnshop Act. › Section 5-19A-1 - Short Title.

Section 5-19A-1
Short title.
This chapter shall be known and may be cited as the "Alabama Pawnshop Act."
(Acts 1992, No. 92-597, p. 1227, §1.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19A - Alabama Pawnshop Act. › Section 5-19A-2 - Definitions.

Section 5-19A-2
Definitions.
The following words and phrases shall have the following meanings:
(1) APPROPRIATE LAW ENFORCEMENT AGENCY. The sheriff of each county in which the pawnbroker maintains an office, or the police chief of the municipality in which the pawnbroker maintains an office.
(2) ATTORNEY GENERAL. The Attorney General of the State of Alabama.
(3) PAWN TRANSACTION. Any loan on the security of pledged goods or any purchase of pledged goods on condition that the pledged goods are left with the pawnbroker and may be redeemed or repurchased by the seller for a fixed price within a fixed period of time. A "pawn transaction" does not include the pledge to, or the purchase by, a pawnbroker of real or personal property from a customer followed by the sale or the leasing of that property back to the customer in the same or a related transaction.
(4) PAWNBROKER. Any person engaged in the business of lending money on the security of pledged goods left in pawn, or in the business of purchasing tangible personal property to be left in pawn on the condition that it may be redeemed or repurchased by the seller for a fixed price within a fixed period of time. Notwithstanding the foregoing, the following are exempt from the definition of the term "pawnbroker" and from this chapter: any bank which is regulated by the State Banking Department of Alabama; the Comptroller of the Currency of the United States; the Federal Deposit Insurance Corporation; the Board of Governors of the Federal Reserve System or any other federal or state authority; and all affiliates thereof and any bank or savings and loan association whose deposits or accounts are eligible for insurance by the Bank Insurance Fund or the Savings Association Insurance Fund or other fund administered by the Federal Deposit Insurance Corporation all affiliates thereof, any state or federally chartered credit union, and any finance company subject to licensing and regulation by the State Banking Department pursuant to Sections 5-19-1 to 5-19-19, inclusive.
(5) PERSON. An individual, partnership, corporation, joint venture, trust, association, or any legal entity.
(6) PLEDGED GOODS. Tangible personal property other than choses in action, securities, or printed evidences of indebtedness, which property is purchased by, deposited with, or otherwise actually delivered into the possession of, a pawnbroker in connection with a pawn transaction.
(7) SUPERVISOR. The Supervisor of the Bureau of Loans of the State Banking Department.
(Acts 1992, No. 92-597, p. 1227, §2.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19A - Alabama Pawnshop Act. › Section 5-19A-3 - Pawnbroker to Enter on Pawn Ticket Record of Information.

Section 5-19A-3
Pawnbroker to enter on pawn ticket record of information.
At the time of making the pawn or purchase transaction, the pawnbroker shall enter on the pawn ticket a record of the following information which shall be typed or written in ink and in the English language:
(1) A clear and accurate description of the property, including model and serial number if indicated on the property.
(2) The name, residence address, and date of birth of the pledgor or seller.
(3) Date of the pawn or purchase transaction.
(4) Type of identification and the identification number accepted from pledgor or seller.
(5) Description of the pledgor including approximate height, sex, and race.
(6) Amount of cash advanced.
(7) The maturity date of the pawn transaction and the amount due.
(8) The monthly rate and pawn charges.
(Acts 1992, No. 92-597, p. 1227, §3.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19A - Alabama Pawnshop Act. › Section 5-19A-4 - Certain Information to Be Printed on Pawn Tickets.

Section 5-19A-4
Certain information to be printed on pawn tickets.
The following information shall be printed on all pawn tickets:
(1) The statement that "Any personal property pledged to a pawnbroker within this state is subject to sale or disposal when there has been no payment made on the account for a period of 30 days past maturity date of the original contract, and no further notice is necessary."
(2) The statement that "The pledgor of this item attests that it is not stolen, it has no liens or encumbrances against it, and the pledgor has the right to sell or pawn the item."
(3) The statement that "The item pawned is redeemable only by the bearer of this ticket."
(4) A blank line for the pledgor's signature.
(Acts 1992, No. 92-597, p. 1227, §4.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19A - Alabama Pawnshop Act. › Section 5-19A-5 - Statement Verifying Pledgor Is Rightful Owner of Goods; Pawnbroker to Maintain Record of Transactions; Goods to Be Maintained on Premises for Certain Number of Days Before Resale.

Section 5-19A-5
Statement verifying pledgor is rightful owner of goods; pawnbroker to maintain record of transactions; goods to be maintained on premises for certain number of days before resale.
(a) The pledgor or seller shall sign a statement verifying that the pledgor or seller is the rightful owner of the goods or is entitled to sell or pledge the goods and shall receive an exact copy of the pawn ticket which shall be signed or initialed by the pawnbroker or any employee of the pawnbroker.
(b) The pawnbroker shall maintain a record of all transactions of pledged or purchased goods on the premises. A pawnbroker shall make available to the appropriate law enforcement agency a record of the transactions. These records shall be a correct copy of the entries made of the pawn or purchase transaction, except as to the amount of cash advanced or paid for the goods and the monthly pawnshop charge.
(c) All goods purchased by the pawnbroker except for automobiles, trucks, and similar vehicles shall be maintained on the premises by the pawnbroker for at least fifteen business days before the goods may be offered for resale. Automobiles, trucks, and similar vehicles shall be maintained on the premises for 21 calendar days.
(Acts 1992, No. 92-597, p. 1227, §5.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19A - Alabama Pawnshop Act. › Section 5-19A-6 - Redemption or Automatic Forfeiture of Pledged Goods.

Section 5-19A-6
Redemption or automatic forfeiture of pledged goods.
A pledgor shall have no obligation to redeem pledged goods or make any payment on a pawn transaction. Pledged goods not redeemed within 30 days following the originally fixed maturity date shall be forfeited to the pawnbroker and absolute right, title, and interest in and to the goods shall vest in the pawnbroker.
(Acts 1992, No. 92-597, p. 1227, §6.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19A - Alabama Pawnshop Act. › Section 5-19A-7 - Pawnshop Charge; Amounts in Excess of Pawnshop Charge.

Section 5-19A-7
Pawnshop charge; amounts in excess of pawnshop charge.
(a) A pawnbroker may contract for and receive a pawnshop charge in lieu of interest or other charges for all services, expenses, costs, and losses of every nature but not to exceed 25 percent of the principal amount, per month, advanced in the pawn transaction.
(b) Any interest, charge, or fees contracted for or received, directly or indirectly, in excess of the amount permitted under subsection (a) shall be uncollectible and the pawn transaction shall be void. The pawnshop charge allowed under subsection (a) shall be deemed earned, due, and owing as of the date of the pawn transaction and a like sum shall be deemed earned, due, and owing on the same day of the succeeding month.
(Acts 1992, No. 92-597, p. 1227, §7.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19A - Alabama Pawnshop Act. › Section 5-19A-8 - Certain Acts by Pawnbrokers Prohibited.

Section 5-19A-8
Certain acts by pawnbrokers prohibited.
A pawnbroker, any clerk, agent, or employee of a pawnbroker shall not do any of the following:
(1) Fail to make an entry of any material matter in the record book.
(2) Make any false entry therein.
(3) Falsify, obliterate, destroy, or remove from the place of business records, books, or accounts relating to the licensee's pawn transactions.
(4) Refuse to allow the supervisor, the appropriate law enforcement agency, the Attorney General, or any other duly authorized state or federal law enforcement officer to inspect the pawn records or any pawn goods during the ordinary hours of business or other acceptable time to both parties.
(5) Fail to maintain a record of each pawn transaction for at least four years.
(6) Accept a pledge or purchase property from a person under the age of 19 years.
(7) Make any agreement requiring the personal liability of a pledgor or seller or waiving any of the provisions of this section or providing for a maturity date less than 30 days after the date of the pawn transaction.
(8) Fail to return or replace pledged goods to a pledgor or seller upon payment of the full amount due the pawnbroker unless the pledged goods have been taken into custody by a court or by a law enforcement officer or agency.
(9) Sell, lease, or agree to sell or lease pledged or purchased goods back to the pledgor or back to the seller and the same or related transaction.
(10) Sell or otherwise charge for insurance in connection with a pawn transaction.
(Acts 1992, No. 92-597, p. 1227, §8.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19A - Alabama Pawnshop Act. › Section 5-19A-9 - Pledgor Presenting Pawn Ticket Entitled to Redeem or Repurchase Goods; Lost or Damaged Pledged Goods in Possession of Pawnbroker; Lost, Destroyed, or Stolen Pawn Ticket.

Section 5-19A-9
Pledgor presenting pawn ticket entitled to redeem or repurchase goods; lost or damaged pledged goods in possession of pawnbroker; lost, destroyed, or stolen pawn ticket.
(a) Any person properly identified as pledgor or as authorized representative of the pledgor and presenting a pawn ticket to the pawnbroker shall be entitled to redeem or repurchase the pledged goods described in the ticket. In the event pledged goods are lost or damaged while in the possession of the pawnbroker, it shall be the responsibility of the pawnbroker to replace the lost or damaged goods with like kinds of merchandise and proof of replacement shall be a defense to any prosecution. For the purposes of this subsection, "lost" includes pledged goods that have been destroyed or have disappeared due to willful neglect that results in the pledged goods being unavailable for return to the pledgor.
(b) If the pawn ticket is lost, destroyed, or stolen, the pledgor shall so notify the pawnbroker in writing, and receipt of this notice shall invalidate the pawn ticket, if the pledged goods have not previously been redeemed. Before delivering the pledged goods or issuing a new pawn ticket, the pawnbroker shall require the pledgor to make a written statement of the loss, destruction, or theft of the ticket. The pawnbroker shall record on the written statement the identifying information required by Section 5-19A-3, the date the statement is given, and the number of the pawn ticket lost, destroyed, or stolen. The statement shall be signed by the pawnbroker or the pawnshop employee who accepts the statement from the pledgor. A pawnbroker is entitled to a fee not to exceed five dollars in connection with each lost, destroyed, or stolen pawn ticket and the taking of a properly prepared written statement for the pawn ticket.
(Acts 1992, No. 92-597, p. 1227, §9.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19A - Alabama Pawnshop Act. › Section 5-19A-10 - Liens for Pawnbrokers; Pledged Goods Not Redeemed on or Before Maturity Date Fixed in Ticket.

Section 5-19A-10
Liens for pawnbrokers; pledged goods not redeemed on or before maturity date fixed in ticket.
(a) A pawnbroker shall have a lien on the pledged goods pawned for the money advanced and the pawnshop charge owed, but not for other debts due to the pawnbroker, subject to the rights of other persons who have an ownership interest or prior liens in the pledged goods. The pawnbroker shall retain possession of the pledged goods except as otherwise herein provided until the lien is satisfied.
(b) Pledged goods not redeemed on or before the maturity date if fixed and set out in the pawn ticket issued in connection with any transaction shall be held by the pawnbroker for 30 days following that date and may be redeemed or repurchased by the pledgor or seller within the period by the payment of the originally agreed redemption price, and by the payment of an additional pawnshop charge equal to the original pawnshop charge.
(Acts 1992, No. 92-597, p. 1227, §10.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19A - Alabama Pawnshop Act. › Section 5-19A-11 - Licensing Generally; Annual Fee; Temporary License; When New License Not Required Upon Change in Ownership.

Section 5-19A-11
Licensing generally; annual fee; temporary license; when new license not required upon change in ownership.
(a) A person may not engage in business as a pawnbroker unless the person has a valid license authorizing engagement in the business. A separate license is required for each place of business. The supervisor may issue more than one license to a person if that person complies with this chapter for each license. A new license or application to transfer an existing license is required upon any change, directly or beneficially, in the ownership of any licensed pawnshop and an application must be made to the supervisor in accordance with this chapter.
(b) When a licensee wishes to move a pawnshop to another location, the licensee shall give 30 days written notice to the supervisor, who shall then amend the license accordingly.
(c) Each license shall remain in full force and effect until relinquished, suspended, revoked, or expired. Every licensee, on or before each December 1st, shall pay the supervisor $100.00 for each license as the annual fee for the succeeding calendar year. If the annual fee remains unpaid 30 days after written notice of delinquency has been given to the licensee by the supervisor, the license shall thereupon expire, but not before December 31st of any year for which the annual fee has been paid. All licensing and investigation fees shall be paid into the special fund established under Section 5-2A-20.
(d) The supervisor may issue a temporary license authorizing the operation of a pawnshop upon receipt of an application to transfer a license from one person to another, or upon the receipt of an application for a license involving principals and owners that are substantially identical to those of an existing licensed pawnshop. The temporary license shall be effective until the permanent license is issued or denied.
(e) A new license or an application to transfer an existing license shall not be required upon any change, directly or beneficially, in the ownership of a licensed pawnshop incorporated under the laws of this state or any other state if the licensee continues to operate as a corporation doing a pawnbroking business under the license. The supervisor may require the licensee to provide information deemed reasonable and appropriate concerning the officers and directors of the corporation and persons owning in excess of 25 percent of the outstanding shares of the corporation.
(Acts 1992, No. 92-597, p. 1227, §11.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19A - Alabama Pawnshop Act. › Section 5-19A-12 - Eligibility for Pawnshop License; Application Fee.

Section 5-19A-12
Eligibility for pawnshop license; application fee.
(a) To be eligible for a pawnshop license, an applicant shall:
(1) Operate lawfully and fairly within the purposes of this chapter.
(2) Not have been convicted of a felony within the last 10 years or not be acting as a beneficial owner for someone who has been convicted of a felony within the last 10 years.
(b) The application shall be accompanied by a fee of $50.00 to be paid to the Supervisor if the applicant does not possess an existing license at the time of applying for the pawnshop license. If the application involves a second or additional license to an applicant previously licensed for a separate location or involves substantially identical principals and owners of a licensed pawnshop at a separate location. The application shall be accompanied by a fee of $50.00.
(Acts 1992, No. 92-597, p. 1227, §12.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19A - Alabama Pawnshop Act. › Section 5-19A-13 - Suspension or Revocation of License; Notice and Hearing; Surrender of License.

Section 5-19A-13
Suspension or revocation of license; notice and hearing; surrender of license.
(a) The supervisor may, after notice and hearing, suspend or revoke any license upon a finding that:
(1) The licensee, either knowingly or without the exercise of due care to prevent the same, has violated this chapter.
(2) A fact or condition exists which, if it had existed or had been known to exist at the time of the original application for a license, would have justified the supervisor in refusing a license.
(3) The licensee has aided, abetted, or conspired with an individual or person to circumvent or violate the requirements of this chapter.
(4) The licensee or a legal or beneficial owner of the license has been convicted of a crime that the supervisor finds directly relates to the duties and responsibilities of the occupation of pawnbroker.
(b) The supervisor may conditionally license or place on probation a person whose license has been suspended or may reprimand a licensee for a violation of this chapter.
(c) The manner of giving notice and conducting a hearing, as required by subsection (a), shall be as required by Sections 41-22-12 and 41-22-13.
(d) Any licensee may surrender a license by delivering it to the supervisor with written notice of its surrender. Notwithstanding the foregoing, this surrender shall not affect the civil or criminal liability of the licensee for acts committed prior to surrendering of the license.
(e) No revocation, suspension, or surrender of a license shall impair or affect the obligation of any pre-existing lawful contract between the licensee and any pledgor. Any pawn transaction made without benefit of license is void.
(f) The supervisor may reinstate suspended licenses or issue new licenses to a person whose license or licenses have been revoked if no fact or condition then exists which would have justified the supervisor in refusing originally to issue a license under this chapter.
(Acts 1992, No. 92-597, p. 1227, §13.)