reglab/statecodes huggingface dataset:
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19A - Alabama Pawnshop Act. › Section 5-19A-14 - Application for New Pawnshop License, Transfer of Existing License, Etc.

Section 5-19A-14
Application for new pawnshop license, transfer of existing license, etc.
(a) An application for a new pawnshop license, the transfer of an existing pawnshop license, or the approval of a change in the ownership of a licensed pawnshop shall be under oath and shall state the full name and place of residence of the applicant, the place where the business is to be conducted, and other relevant information required by the supervisor. If the applicant is a partnership, the application shall state the full name and address of each partner. If the applicant is a corporation, the application shall state the full name and address of each officer, shareholder, and director.
(b) Notwithstanding the foregoing, the application need not state the full name and address of each shareholder, if the applicant is owned directly or beneficially by a person which as an issuer has a class of securities registered pursuant to Section 12 of the Securities Exchange Act of 1934, or pursuant to Section 15(d) is an issuer of securities which is required to file reports with the Securities and Exchange Commission, if the person files with the supervisor any information, documents, and reports required by that act to be filed with the Securities and Exchange Commission.
(Acts 1992, No. 92-597, p. 1227, §14.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19A - Alabama Pawnshop Act. › Section 5-19A-15 - No Confiscation of Property Pledged to Pawnbroker if Property May Be Put on Seven-Day Hold; When Property May Be Placed on Hold.

Section 5-19A-15
No confiscation of property pledged to pawnbroker if property may be put on seven-day hold; when property may be placed on hold.
(a) No pledged or purchased goods may be confiscated if the property pledged to, or purchased by, a pawnbroker may be put on a seven-day hold by the authorized law enforcement authorities, but the pledged or purchased property may not be placed on hold unless:
(1) A police report is made in a timely manner.
(2) A warrant is sworn out for the person who pledged or sold the goods to the pawnbroker or for alias if the person is unknown.
(3) A warrant or writ is issued for the merchandise to be confiscated along with a request for restitution, pursuant to law.
(b) This section shall not affect the right of any person who has an ownership interest or prior lien in the pledged or purchased goods.
(Acts 1992, No. 92-597, p. 1227, §15.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19A - Alabama Pawnshop Act. › Section 5-19A-16 - Penalties for Failure to Secure License.

Section 5-19A-16
Penalties for failure to secure license.
Any person who engages in the business of operating a pawnshop without first securing the license prescribed by this chapter shall be guilty of a misdemeanor and, upon conviction thereof, shall be punished by a fine not in excess of $1,000.00 or by confinement in the county jail for not more than one year, or for both.
(Acts 1992, No. 92-597, p. 1227, §16.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19A - Alabama Pawnshop Act. › Section 5-19A-17 - Penalties for Willful Violation of Chapter or for False Entry in Required Records; Compliance Enforced by Supervisor; Order Requiring Person to Refrain From Violation.

Section 5-19A-17
Penalties for willful violation of chapter or for false entry in required records; compliance enforced by supervisor; order requiring person to refrain from violation.
(a) In addition to any other penalty which may be applicable, any licensee who willfully violates this chapter or who willfully makes a false entry in any record specifically required by this chapter shall be guilty of a misdemeanor and, upon conviction thereof, shall be punished by a fine not in excess of $1,000.00 per violation or false entry.
(b) Compliance with this chapter shall be enforced by the supervisor who may exercise any authority conferred by law.
(c) When the supervisor has reasonable cause to believe that a person is violating this chapter, the supervisor, in addition to and without prejudice to the authority provided elsewhere in this chapter, may enter an order requiring the person to stop or to refrain from the violation. The supervisor may sue in any circuit court of the state having jurisdiction and venue to enjoin the person from engaging in, continuing the violation, or from doing any act in furtherance of the violation. In an action, the court may enter an order or judgment awarding a preliminary or permanent injunction.
(Acts 1992, No. 92-597, p. 1227, §17.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19A - Alabama Pawnshop Act. › Section 5-19A-18 - Department of Public Safety to Supply Available Arrest and Conviction Records.

Section 5-19A-18
Department of Public Safety to supply available arrest and conviction records.
The Department of Public Safety on request shall supply to the supervisor any available arrest and conviction records of an individual applying for or holding a license under this chapter.
(Acts 1992, No. 92-597, p. 1227, §18.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19A - Alabama Pawnshop Act. › Section 5-19A-19 - Ordinances to Be in Compliance With but Not More Restrictive Than Chapter.

Section 5-19A-19
Ordinances to be in compliance with but not more restrictive than chapter.
Any municipality may enact ordinances which are in compliance with but not more restrictive than this chapter. Any existing or future order, ordinances, or regulation which conflicts with this provision shall be null and void.
(Acts 1992, No. 92-597, p. 1227, §20.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 19A - Alabama Pawnshop Act. › Section 5-19A-20 - Pawnbrokers to Be Subject to Licensing and Issuance Fees Under Chapter 12 of Title 40; Chapter Not to Repeal Uniform Commercial Code.

Section 5-19A-20
Pawnbrokers to be subject to licensing and issuance fees under Chapter 12 of Title 40; chapter not to repeal Uniform Commercial Code.
Notwithstanding the foregoing, all persons currently doing business as pawnbrokers and those seeking licensure under this chapter, shall be subject to the applicable licensing and issuance fees levied under Chapter 12 of Title 40. This chapter shall not repeal or be construed to repeal any provision of the Uniform Commercial Code, Sections 7-1-101 et seq.
(Acts 1992, No. 92-597, p. 1227, §21.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 20 - Alabama Credit Card Act. › Section 5-20-4 - Establishment or Acquisition of a Credit Card Bank.

Section 5-20-4
Establishment or acquisition of a credit card bank.
Subject to the provisions of this chapter and to the prior approval of the superintendent, any bank holding company, bank holding company subsidiary, domestic lender or foreign lender may, either singly or jointly with other bank holding companies, bank holding company subsidiaries, domestic lenders or foreign lenders, establish or acquire, and own and control all the voting shares of a single credit card bank located in Alabama when and for so long as the following conditions are satisfied:
(1) If the credit card bank is to be organized under the laws of this state, such bank shall be organized as provided in this chapter and in the manner provided in Chapter 5A of this title;
(2) In connection with the application to organize, or to acquire control of a credit card bank, the applicant or applicants shall pay one filing fee to the Alabama Department of Banking in an amount not less than $15,000 to be set by the superintendent and approved by the Alabama Department of Banking;
(3) The shares of a credit card bank shall be owned only by one or more bank holding companies, bank holding company subsidiaries, domestic lenders or foreign lenders;
(4) Each credit card bank shall have total initial capital accounts actually paid in of not less than $1,750,000, and at all times thereafter shall maintain such minimum capital together with such additional capital accounts such that it shall have total capital not less than that capital generally required of Alabama banks supervised by the superintendent;
(5) The credit card bank may engage only in the business of soliciting, processing, and extending credit pursuant to credit card accounts and conducting such other activities as are incidental thereto and not inconsistent with the provisions of this chapter;
(6) The credit card bank shall not accept demand deposits or deposits that are withdrawable by check or similar means for payment to third parties or others, and shall not accept any savings or time deposits of less than $100,000;
(7) The credit card bank must operate only a single office in this state, and such office's location and manner of operation shall be limited so as to be not likely to attract customers from the general public in this state to the substantial detriment of banks and depository institutions located in this state; and
(8) A credit card bank, owned singly or jointly by a foreign lender or by a foreign bank holding company or by a subsidiary thereof, shall have, within one year of the date it commences operations, no fewer than 40 employees located in this state devoted to its credit card activities.
An Alabama bank or a domestic lender is not required to establish a credit card bank to issue credit cards and create credit card accounts.
(Acts 1988, No. 88-85, p. 104, §1.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 20 - Alabama Credit Card Act. › Section 5-20-5 - Charges, Rates, and Fees.

Section 5-20-5
Charges, rates and fees.
Notwithstanding the provisions of any other law, in connection with a credit card account, any domestic lender or any credit card bank may provide in the credit card agreement such charges for cash advances, charges for extensions of credit in excess of pre-established limits, late fees or delinquency charges, premiums on credit life and credit accident and health insurance, annual fees and other charges and fees, and such other terms and conditions as such domestic lender or credit card bank and the debtor may agree from time to time. Further, in addition to and apart from the charges and fees set forth above, in connection with a credit card account, any domestic lender or credit card bank may impose such interest and other finance charges as any such domestic lender or credit card bank and the debtor may from time to time agree notwithstanding any law otherwise prescribing, regulating or limiting such rates of interest, finance charges, fees and other charges. In the event any domestic lender or credit card bank desires to modify in any respect any term of the credit card account, it shall first provide at least 30 days' prior written notice of such modification to the debtor. In providing such notice, such domestic lender or credit card bank shall advise the debtor in writing that the debtor has the option (i) to surrender the credit card whereupon the debtor shall have the right to continue to pay off the credit card account in the same manner and under the same terms and conditions as then in effect; or (ii) to hold the credit card after the 30-day period has elapsed, or to use the credit card during such period, either of which shall constitute the debtor's consent to the modification.
(Acts 1988, No. 88-85, p. 104, §1.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 20 - Alabama Credit Card Act. › Section 5-20-6 - Application for Approval; Filing Fee.

Section 5-20-6
Application for approval; filing fee.
Any bank holding company, bank holding company subsidiary, domestic lender or foreign lender proposing to establish or acquire a credit card bank pursuant to this chapter shall file an application with the superintendent for prior approval of such establishment or acquisition. Such application shall contain such information as the superintendent may require, and shall specifically acknowledge each applicant's agreement to be bound by the conditions set forth in Section 5-20-4. In addition, such application shall designate a resident of this state as each applicant's registered agent in connection with matters arising out of this chapter and shall be accompanied by the filing fee specified in section 5-20-4.
(Acts 1988, No. 88-85, p. 104, §1.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 20 - Alabama Credit Card Act. › Section 5-20-7 - Supervision and Enforcement.

Section 5-20-7
Supervision and enforcement.
(a) All credit card banks organized under the laws of this state shall be subject to the supervision, regulation, and examination of the superintendent and the superintendent shall have all enforcement powers with respect thereto as are provided in this title.
(b) In the event any credit card bank does not conduct its business consistent with the provisions of Section 5-20-4, the superintendent may require such credit card bank to cease all unauthorized activities, and may issue cease and desist orders and exercise any other rights or powers provided by this title, including, but not limited to, seeking equitable or legal remedies. In the event such credit card bank fails to abide by any order or written agreement with the superintendent, the superintendent may in addition to all other rights, remedies, and powers it may have under this title:
(1) Impose upon the credit card bank or any of its controlling or investor bank holding companies, bank holding company subsidiaries, domestic lenders or foreign lenders, a penalty of up to $10,000 per day for each day such order is violated; and
(2) Require divestiture of any interest in such credit card bank by any person or entity not qualified to acquire such credit card bank on the date it ceased to operate within the limitations imposed by Section 5-20-5.
(c) The superintendent shall have the power to promulgate rules and regulations implementing the provisions of this chapter in the manner provided by Sections 5-2A-7 and 5-2A-8.
(Acts 1988, No. 88-85, p. 104, §1.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 20 - Alabama Credit Card Act. › Section 5-20-8 - Applicable Law.

Section 5-20-8
Applicable law.
(a) A credit card bank shall be subject to all provisions of this title except to the extent any rights, powers, privileges, provisions or limitations of this title are inconsistent with the rights, powers, privileges, provisions or limitations of this chapter.
(b) A credit card bank shall not be considered a "bank" for the purposes of Section 5-5A-20 or Chapter 13A of Title 5.
(c) Notwithstanding anything to the contrary contained in Section 5-5A-27, an Alabama bank may subscribe for and own stock in a credit card bank.
(Acts 1988, No. 88-85, p. 104, §1.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 20 - Alabama Credit Card Act. › Section 5-20-9 - Severability.

Section 5-20-9
Severability.
If any provision or clause of this chapter, including without limitation Section 5-20-4(8), or any application thereof to any entity or circumstances is held invalid, such invalidity shall not affect the other provisions or applications of the chapter which can be given effect without the invalid provision or application, and to this end the provisions of this chapter are declared to be severable.
(Acts 1988, No. 88-85, p. 104, §1.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 20 - Alabama Credit Card Act. › Section 5-20-10 - Construction With Other Laws; Repeal of Conflicting Laws.

Section 5-20-10
Construction with other laws; repeal of conflicting laws.
To the extent other laws or parts of laws, whether general, local, or general laws of local application, conflict with this chapter, such other laws or parts of laws are hereby amended or repealed to the extent of such conflict as necessary to permit full effectiveness of the provisions of this chapter; provided, however, nothing contained in this chapter shall be construed to amend or modify the provisions of Chapter 13A of Title 5, as currently amended.
(Acts 1988, No. 88-85, p. 104, §1.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 21 - George Wallace, jr., Plan for Linked Deposits of 1988. › Section 5-21-1 - Short Title.

Section 5-21-1
Short title.
Repealed by Act 2007-397, p. 790, §2, effective January 1, 2008.
(Acts 1988, No. 88-162, p. 256, §1.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 21 - George Wallace, jr., Plan for Linked Deposits of 1988. › Section 5-21-2 - Legislative Purpose.

Section 5-21-2
Legislative purpose.
Repealed by Act 2007-397, p. 790, §2, effective January 1, 2008.
(Acts 1988, No. 88-162, p. 256, §2; Acts 1991, No. 91-720, p. 1399, §1; Acts 1993, No. 93-351, p. 540, §1; Acts 1995, No. 95-257, p. 430, §1.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 21 - George Wallace, jr., Plan for Linked Deposits of 1988. › Section 5-21-3 - Definitions.

Section 5-21-3
Definitions.
Repealed by Act 2007-397, p. 790, §2, effective January 1, 2008.
(Acts 1988, No. 88-162, p. 256, §3; Acts 1991, No. 91-720, p. 1399, §1; Acts 1993, No. 93-351, p. 540, §1; Acts 1995, No. 95-257, p. 430, §1; Act 99-659, 2nd Sp. Sess., p. 113, §1.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 21 - George Wallace, jr., Plan for Linked Deposits of 1988. › Section 5-21-4 - Creation of Plan; Term and Return Rate of Deposits.

Section 5-21-4
Creation of plan; term and return rate of deposits.
Repealed by Act 2007-397, p. 790, §2, effective January 1, 2008.
(Acts 1988, No. 88-162, p. 256, §4; Acts 1989, No. 89-882, p. 1780, §1; Acts 1991, No. 91-720, p. 1399, §1; Acts 1993, No. 93-351, p. 540, §1; Acts 1995, No. 95-257, p. 430, §1; Act 99-659, 2nd Sp. Sess., p. 113, §1; Act 2003-304, p. 722, §1; Act 2006-416, p. 1032, §1.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 21 - George Wallace, jr., Plan for Linked Deposits of 1988. › Section 5-21-5 - Amounts of Loans; Eligibility.

Section 5-21-5
Amounts of loans; eligibility.
Repealed by Act 2007-397, p. 790, §2, effective January 1, 2008.
(Acts 1988, No. 88-162, p. 256, §5; Acts 1995, No. 95-257, p. 430, §1; Act 99-659, 2nd Sp. Sess., p. 113, §1.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 21 - George Wallace, jr., Plan for Linked Deposits of 1988. › Section 5-21-6 - Restriction of Fees or Charges.

Section 5-21-6
Restriction of fees or charges.
Repealed by Act 2007-397, p. 790, §2, effective January 1, 2008.
(Acts 1988, No. 88-162, p. 256, §6; Act 99-659, 2nd Sp. Sess., p. 113, §1.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 21 - George Wallace, jr., Plan for Linked Deposits of 1988. › Section 5-21-7 - Interest Rates.

Section 5-21-7
Interest rates.
Repealed by Act 2007-397, §2, effective January 1, 2008.
(Acts 1988, No. 88-162, p. 256, §7; Acts 1995, No. 95-257, p. 430, §1; Act 99-659, 2nd Sp. Sess., p. 113, §1; Act 2004-486, §1.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 21 - George Wallace, jr., Plan for Linked Deposits of 1988. › Section 5-21-8 - Agreements Between State and Eligible Lending Institutions in Writing; Specific Terms, Conditions, etc., Included.

Section 5-21-8
Agreements between state and eligible lending institutions in writing; specific terms, conditions, etc., included.
Repealed by Act 2007-397, p. 790, §2, effective January 1, 2008.
(Acts 1988, No. 88-162, p. 256, §8.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 21 - George Wallace, jr., Plan for Linked Deposits of 1988. › Section 5-21-9 - Participation in Plan; Application.

Section 5-21-9
Participation in plan; application.
Repealed by Act 2007-397, p. 790, §2, effective January 1, 2008.
(Acts 1988, No. 88-162, p. 256, §9; Acts 1993, No. 93-351, p. 540, §1; Acts 1995, No. 95-257, p. 430, §1; Act 99-659, 2nd Sp. Sess., p. 113, §1.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 21 - George Wallace, jr., Plan for Linked Deposits of 1988. › Section 5-21-10 - Annual Report.

Section 5-21-10
Annual report.
Repealed by Act 2007-397, p. 790, §2, effective January 1, 2008.
(Acts 1988, No. 88-162, p. 256, §10.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 21 - George Wallace, jr., Plan for Linked Deposits of 1988. › Section 5-21-11 - Effective Date; Termination Date.

Section 5-21-11
Effective date; termination date.
Repealed by Act 2007-397, p. 790, §2, effective January 1, 2008.
(Acts 1988, No. 88-162, p. 256, §13; Acts 1991, No. 91-720, p. 1399, §1; Acts 1995, No. 95-257, p. 430, §1; Act 99-659, 2nd Sp. Sess., p. 113, §1; Act 2003-304, p. 722, §1; Act 2006-416, p. 1032, §1.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 22 - Reports of Transactions Involving Currency. › Section 5-22-1 - Purpose.

Section 5-22-1
Purpose.
It is the purpose of this chapter to require submission to the State Revenue Department of certain reports and records of transactions involving United States currency where such reports and records have a high degree of usefulness in criminal, tax, or regulatory investigations or proceedings.
(Acts 1990, No. 90-469, p. 674, §1.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 22 - Reports of Transactions Involving Currency. › Section 5-22-2 - Definitions.

Section 5-22-2
Definitions.
For the purpose of this chapter, the following terms shall have the meanings ascribed by this section:
(1) CURRENCY. Currency and coin of the United States.
(2) FINANCIAL INSTITUTION. Any national bank or banking association, state bank or banking association, industrial savings bank, trust company, federal savings and loan association, state savings and loan association, federal savings bank, state savings bank, federal credit union, state credit union, Edge Act or agreement corporation, or international bank agency, located in this state, whether organized under the laws of this state, the laws of another state, or the laws of the United States.
(3) PERSON. Any individual, and any corporation, partnership, association or other such business entity.
(Acts 1990, No. 90-469, p. 674, §2.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 22 - Reports of Transactions Involving Currency. › Section 5-22-3 - Record of Currency Transactions; Report on Written Request; When No Longer Required; Compliance With Federal Law Sufficient; Multiple Transactions; Disclosures.

Section 5-22-3
Record of currency transactions; report on written request; when no longer required; compliance with federal law sufficient; multiple transactions; disclosures.
(a) Every financial institution shall keep a record of each of its currency transactions as required by 31 U.S.C. §5313 and regulations pursuant thereto, as the same may be amended from time to time ("federal monetary transaction records and reports requirement"). Upon the written request of the Revenue Commissioner, each financial institution shall file a report as described in this chapter with the State Revenue Department. After such request and during the period of time covered thereby, each report shall be filed no later than 15 banking days after the report of the same transaction is required to be filed pursuant to the federal monetary transaction records and reports requirement. If the information required to be reported to the State Revenue Department pursuant to this chapter becomes otherwise available to the State Revenue Department through access to reports of any federal agency, the Revenue Commissioner shall notify the financial institutions in writing that such financial institutions no longer have any obligation to file any report pursuant to this chapter. Each report may be in the same form as, or may be a copy of, the report required by the federal monetary transaction records and reports requirement. Notwithstanding any provision hereof to the contrary, maintaining the records and filing a copy of reports required by the federal monetary transaction records and reports requirement shall satisfy the recordkeeping and reporting requirements of this chapter.
(b) Multiple transactions conducted by or for any person in any one day shall be treated as a single transaction, if the financial institution actually is aware of them and such transactions are by or on behalf of the same person.
(c) Information obtained by the State Revenue Department may not be disclosed by the Revenue Commissioner or any officer or employee of the State Revenue Department, except that the Revenue Commissioner may in his discretion, if he deems it necessary or proper to the enforcement of the laws of this state or the United States and to the best interest of the public, divulge such information to any department, agency, or instrumentality of the state or federal government.
(Acts 1990, No. 90-469, p. 674, §3.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 22 - Reports of Transactions Involving Currency. › Section 5-22-4 - Effect of Federal Exemptions.

Section 5-22-4
Effect of federal exemptions.
All exemptions from recordkeeping and reporting requirements under the federal monetary transaction records and reports requirement shall be available to financial institutions under this chapter. This chapter shall not require any recordkeeping or reporting of currency transactions other than those required by the federal monetary transaction records and reports requirement.
(Acts 1990, No. 90-469, p. 674, §4.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 22 - Reports of Transactions Involving Currency. › Section 5-22-5 - When Reports May Be Disclosed.

Section 5-22-5
When reports may be disclosed.
Other than as provided for in Section 5-22-3, the State Revenue Department shall not provide to any person any report filed under Section 5-22-3 or any information contained therein except:
(1) Pursuant to a lawful subpoena or subpoena duces tecum issued by a state attorney, a United States attorney, or a court, in a criminal judicial proceeding;
(2) Pursuant to any such subpoena issued by a state or federal grand jury; or
(3) Pursuant to any such subpoena issued by a state attorney, a United States attorney, or a court, in the course of a civil judicial proceeding instituted by a state attorney or by a United States attorney.
(Acts 1990, No. 90-469, p. 674, §5.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 22 - Reports of Transactions Involving Currency. › Section 5-22-6 - Criminal Penalties.

Section 5-22-6
Criminal penalties.
(a) Except as provided in subsection (b) of this section, a person who willfully violates any provision of Section 5-22-3 shall in addition to other penalties provided by law, be guilty of a misdemeanor and, upon conviction thereof, shall be punished by a fine of not more than $500.00 or by imprisonment for not more than 12 months or both.
(b) A person who willfully violates any provision of Section 5-22-3, when the violation is:
(1) Committed in furtherance of the commission of any other violation of Alabama law; or
(2) Committed as part of a pattern of illegal activity involving transactions exceeding $100,000.00 in any 12-month period,
shall, in addition to other penalties provided by law, be guilty of a felony and, upon conviction thereof, shall be punished by a fine of not more than $500,000.00 or by imprisonment for not more than five years, or both.
(Acts 1990, No. 90-469, p. 674, §6.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 22 - Reports of Transactions Involving Currency. › Section 5-22-7 - Immunity From Liability.

Section 5-22-7
Immunity from liability.
Except as provided in Section 5-22-6, no financial institution, or director, officer, employee or agent thereof, shall be civilly or criminally liable to any person for acts or omissions done in connection with the keeping or maintaining of records and providing of reports or disclosure thereof as required by this chapter and no cause of action shall exist against any financial institution, director, officer, employee or agent thereof for any action taken or not taken pursuant to or in reliance upon the provisions of this chapter.
(Acts 1990, No. 90-469, p. 674, §7.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 22 - Reports of Transactions Involving Currency. › Section 5-22-8 - Recoupment of Costs Not Authorized.

Section 5-22-8
Recoupment of costs not authorized.
No part of the cost or expense incurred by the State Revenue Department in recording, maintaining, disposing of or otherwise dealing with the information received by the State Revenue Department pursuant to the provisions of this chapter or otherwise incurred by the State Revenue Department in administering the provisions of this chapter shall be imposed upon or recouped from any financial institution by fees or assessments specially levied or assessed to impose or recoup such cost or expense.
(Acts 1990, No. 90-469, p. 674, §8.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 23 - State Sponsorship of Financial Institution Credit Card. › Section 5-23-1 - Definitions.

Section 5-23-1
Definitions.
The following terms shall have the meanings ascribed to them unless the context clearly indicates otherwise:
(1) TREASURER. The State Treasurer of Alabama.
(2) FINANCIAL INSTITUTION. Any bank, savings and loans association or credit union operating in Alabama which is chartered under federal or state statutes.
(3) FINANCIAL INSTITUTION CREDIT CARD. A credit card that entitles the holder to make open-account purchases up to an approved amount and which is issued through a financial institution.
(4) SPONSORING ENTITY. An entity, including specifically the State of Alabama, which solicits the use of a particular financial institution credit card bearing the entity's name in exchange for a fee from the credit card issuer.
(5) STATE FEES. All moneys generated from this program that are remitted to the State of Alabama.
(Acts 1990, No. 90-524, p. 764, §1.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 23 - State Sponsorship of Financial Institution Credit Card. › Section 5-23-2 - State Participation in Financial Institution Credit Card Program; Contact With Financial Institutions.

Section 5-23-2
State participation in financial institution credit card program; contact with financial institutions.
The State Treasurer is hereby authorized to participate in a financial institution credit card program for the benefit of the state. Within 180 days of April 19, 1990, the Treasurer shall contact as many financial institutions as, in the Treasurer's discretion is necessary, to determine if:
(1) The financial institution or its holding company or affiliate currently administers a credit card program;
(2) The credit card program provides a fee or commission on retail sales to the sponsoring entity for the issuance and use of the credit card; and
(3) The credit card program would accept the state as a sponsoring entity.
(Acts 1990, No. 90-524, p. 764, §2.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 23 - State Sponsorship of Financial Institution Credit Card. › Section 5-23-3 - Negotiation of State's Fee; Contracts With Financial Institutions; Use of State Seal and Insignia.

Section 5-23-3
Negotiation of state's fee; contracts with financial institutions; use of state seal and insignia.
(a) If the Treasurer determines that the state may be a sponsoring entity for a financial institution credit card, he shall negotiate and contract for the most favorable rate of return for the state's fee by a credit card issuer. The state may not offer a more favorable rate to any one credit card issuer over another. The rate must be expressed as a percentage of the gross sales from the use of the credit card.
(b) In participating in a credit card program, the State Treasurer may contract with any number of financial institutions in order to establish the state as a sponsoring entity.
(c) There shall be only one official state sponsored credit card at any given time, and it shall be the official state sponsored credit card authorized by this chapter. It is provided further that the card issuer is authorized to use the official state seal and insignia on said official card.
(d) The state shall not contract to assume any liability for lost or stolen credit cards, nor any other legal debt owed to the financial institutions.
(e) The Treasurer is specifically authorized to extend any contract with a financial institution or institutions previously selected for the credit card program.
(Acts 1990, No. 90-524, p. 764, §3.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 23 - State Sponsorship of Financial Institution Credit Card. › Section 5-23-4 - Proceeds.

Section 5-23-4
Proceeds.
The net proceeds of the state fees shall be transmitted to the state Comptroller and distributed as follows:
(1) Seventy-five percent to the Foundation for Local Schools as provided in Chapter 26C of Title 16, to be allocated to the credit of local school systems.
(2) Twenty-five percent to the Penny Trust Fund as established by Amendment 512 of the Constitution of Alabama of 1901, and by Chapter 15A of Title 41.
(Acts 1990, No. 90-524, p. 764, §5; Act 98-319, p. 535, §11.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 23 - State Sponsorship of Financial Institution Credit Card. › Section 5-23-5 - Rules and Regulations.

Section 5-23-5
Rules and regulations.
The State Treasurer is authorized to adopt such rules and regulations as may be necessary to implement the Alabama state-sponsored credit card program. The rules may include, without limitation, provisions governing the procedures for contacting financial institutions to determine if they would accept the state as a sponsoring entity for a credit card program and for negotiating, and collecting, the rate for the state's fee. The financial institution which administers the program may name or rename the card.
(Acts 1990, No. 90-524, p. 764, §6; Act 98-319, p. 535, §12.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 23 - State Sponsorship of Financial Institution Credit Card. › Section 5-23-6 - Disclosure of Information.

Section 5-23-6
Disclosure of information.
It shall be legal and permissible for the financial institution to request and receive from the state Comptroller a listing of all members of the Teachers' Retirement System, the Employees' Retirement System, and the Judicial Retirement System, including the names and addresses of the members on discs, tapes, or other appropriate electronic retrieval systems at actual costs. It shall also be legal and permissible for the financial institution to receive the names and addresses of all persons who purchase the "Helping Schools" distinctive car tags, if the purchasers of the tags have not signed forms disallowing the release of their names and addresses as provided by federal regulations. The financial institution may use the information only for informational or promotional purposes, or both, pertaining to the Alabama state-sponsored credit card card programs as provided by this chapter.
(Act 99-592, p. 1354, §4.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 24 - Uniform Multiple-Person Accounts Act. › Article 1 - Definitions and General Provisions. › Section 5-24-2 - Scope of Chapter.

Section 5-24-2
Scope of chapter.
This chapter does not apply to (1) an account established for a corporation, partnership, joint venture, other organization for a business purpose, an unincorporated association, or charitable or civic organization, (2) an account controlled by one or more persons as an agent or trustee for an organization described in subdivision (1), or (3) a fiduciary or trust account in which the relationship is established other than by the terms of the account.
(Acts 1997, No. 97-644, p. 1177, §1.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 24 - Uniform Multiple-Person Accounts Act. › Article 1 - Definitions and General Provisions. › Section 5-24-3 - Types of Account; Existing Accounts.

Section 5-24-3
Types of account; existing accounts.
(a) An account may be for a single party or multiple parties. A multiple-party account may be with or without a right of survivorship between the parties. Subject to subsection (c) of Section 5-24-12, either a single-party account or a multiple-party account may have a POD designation, an agency designation, or both.
(b) An account established before, on, or after March 1, 1998, whether in the form prescribed in Section 5-24-4 or in any other form, is either a single-party account or a multiple-party account, with or without right of survivorship, and with or without a POD designation or an agency designation, within the meaning of this chapter, and is governed by this chapter.
(Acts 1997, No. 97-644, p. 1177, §1.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 24 - Uniform Multiple-Person Accounts Act. › Article 1 - Definitions and General Provisions. › Section 5-24-4 - Forms.

Section 5-24-4
Forms.
(a) A contract of deposit may contain provisions in substantially the following form to establish the type of account provided, and the account shall be governed by the provisions of this chapter applicable to an account of that type:
UNIFORM SINGLE- OR MULTIPLE-PARTY
ACCOUNT FORM
PARTIES [Name One Or More Parties]:
___________________
_________________
OWNERSHIP
[Select One]:
___________
SINGLE-PARTY ACCOUNT
___________
MULTIPLE-PARTY ACCOUNT Parties own account during the lifetime of all parties in proportion to net contributions unless there is clear and convincing evidence of a different intent.
RIGHTS AT DEATH
[Select One]:
___________
SINGLE-PARTY ACCOUNT
At death of party, ownership passes as part of party's estate.
___________
SINGLE-PARTY ACCOUNT WITH POD (PAY ON DEATH) DESIGNATION [Name One Or More Beneficiaries]:
_____________________
_____________________
At death of party, ownership passes to POD beneficiaries and is not part of party's estate.
___________
MULTIPLE-PARTY ACCOUNT WITH RIGHT OF SURVIVORSHIP At death of party, ownership passes to surviving parties.
___________
MULTIPLE-PARTY ACCOUNT WITH RIGHT OF SURVIVORSHIP AND POD (PAY ON DEATH ) DESGINATION [Name One Or More Beneficiaries]:
______________________
______________________
At death of last surviving party, ownership passes to POD beneficiaries and is not part of last surviving party's estate.
___________
MULTIPLE-PARTY ACCOUNT WITHOUT RIGHT OF SURVIVORSHIP
At death of party, deceased party's ownership passes as part of deceased party's estate.
AGENCY DESIGNATION [Optional]
Agents may make account transactions for parties but have no ownership or rights at death unless named as POD beneficiaries.
[To Add Agency Designation To Account, Name One Or More Agents]:
______________
________________
[Select One]:
___________
AGENCY DESIGNATION SURVIVES DISABILITY OR INCAPACITY OF PARTIES
___________
AGENCY DESIGNATION TERMINATES ON DISABILITY OR INCAPACITY OF PARTIES
(b) A contract of deposit that does not contain provisions in substantially the form provided in subsection (a) is governed by the provisions of this chapter applicable to the type of account that most nearly conforms to the depositor's intent as expressed in the contract of deposit.
(Acts 1997, No. 97-644, p. 1177, §1.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 24 - Uniform Multiple-Person Accounts Act. › Article 1 - Definitions and General Provisions. › Section 5-24-5 - Designation of Agent.

Section 5-24-5
Designation of agent.
(a) By a signed writing, a party may designate one or more persons other than a party as his or her agent on an account. Unless the terms of the agency designation provide otherwise, the agency designation may be revoked or amended only by the party making the designation or by a guardian, conservator, or other fiduciary appointed by a court of the party's domicile and charged with the management of the account.
(b) Unless the terms of an agency designation provide otherwise, the agent's authority survives disability, incompetency, and incapacity of the party making the agency designation. The agent may act for a disabled, incompetent, or incapacitated party until the authority of the agent is revoked.
(c) Death of the party making the agency designation terminates the authority of an agent.
(Acts 1997, No. 97-644, p. 1177, §1.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 24 - Uniform Multiple-Person Accounts Act. › Article 1 - Definitions and General Provisions. › Section 5-24-6 - Applicability of Chapter.

Section 5-24-6
Applicability of chapter.
The provisions of Article 2 concerning beneficial ownership as between parties or as between parties and beneficiaries apply only to controversies between those persons and their creditors and other successors, and do not apply to the right of those persons to payment as determined by the terms of the account. Article 3 governs the liability and set-off rights of financial institutions that make payments pursuant to it.
(Acts 1997, No. 97-644, p. 1177, §1.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 24 - Uniform Multiple-Person Accounts Act. › Article 2 - Ownership as Between Parties and Others. › Section 5-24-11 - Ownership During Lifetime.

Section 5-24-11
Ownership during lifetime.
(a) In this section, "net contribution" of a party means the sum of all deposits to an account made by or for the party, less all payments from the account made to or for the party which have not been paid to or applied to the use of another party and a proportionate share of any charges deducted from the account, plus a proportionate share of any interest or dividends earned, whether or not included in the current balance. The term includes any deposit life insurance proceeds added to the account by reason of death of the party whose net contribution is in question.
(b) During the lifetime of all parties, an account belongs to the parties in proportion to the net contribution of each to the sums on deposit, unless there is clear and convincing evidence of a different intent. As between parties married to each other, in the absence of proof otherwise, the net contribution of each is presumed to be an equal amount.
(c) A beneficiary in an account having a POD designation has no right to sums on deposit during the lifetime of any party.
(d) An agent in an account with an agency designation has no beneficial right to sums on deposit.
(Acts 1997, No. 97-644, p. 1177, §1.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 24 - Uniform Multiple-Person Accounts Act. › Article 2 - Ownership as Between Parties and Others. › Section 5-24-12 - Rights at Death.

Section 5-24-12
Rights at death.
(a) Except as otherwise provided in this chapter, on death of a party sums on deposit in a multiple-party account belong to the surviving party or parties. If two or more parties survive and one is the surviving spouse of the decedent, the amount to which the decedent, immediately before death, was beneficially entitled under Section 5-24-11 belongs to the surviving spouse. If two or more parties survive and none is the surviving spouse of the decedent, the amount to which the decedent, immediately before death, was beneficially entitled under Section 5-24-11 belongs to the surviving parties in equal shares, and augments the proportion to which each survivor, immediately before the decedent's death, was beneficially entitled under Section 5-24-11, and the right of survivorship continues between the surviving parties.
(b) In an account with a POD designation:
(1) On death of one of two or more parties, the rights in sums on deposit are governed by subsection (a).
(2) On death of the sole party or the last survivor of two or more parties, sums on deposit belong to the surviving beneficiary or beneficiaries. If two or more beneficiaries survive, sums on deposit belong to them in equal and undivided shares, and there is no right of survivorship in the event of death of a beneficiary thereafter. If no beneficiary survives, sums on deposit belong to the estate of the last surviving party.
(c) Sums on deposit in a single-party account without a POD designation, or in a multiple-party account that, by the terms of the account, is without right of survivorship, are not affected by death of a party, but the amount to which the decedent, immediately before death, was beneficially entitled under Section 5-24-11 is transferred as part of the decedent's estate. A POD designation in a multiple-party account without right of survivorship is ineffective. For purposes of this section, designation of an account as a tenancy in common establishes that the account is without right of survivorship.
(d) The ownership right of a surviving party or beneficiary, or of the decedent's estate, in sums on deposit is subject to requests for payment made by a party before the party's death, whether paid by the financial institution before or after death, or unpaid. The surviving party or beneficiary, or the decedent's estate, is liable to the payee of an unpaid request for payment. A proceeding to assert such liability must be commenced within one year after death of the decedent. The liability is limited to a proportionate share of the amount transferred under this section, to the extent necessary to discharge the request for payment.
(Acts 1997, No. 97-644, p. 1177, §1.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 24 - Uniform Multiple-Person Accounts Act. › Article 2 - Ownership as Between Parties and Others. › Section 5-24-13 - Alteration of Rights.

Section 5-24-13
Alteration of rights.
(a) Rights at death under Section 5-24-12 are determined by the type of account at the death of a party. The type of account may be altered by written notice given by a party to the financial institution to change the type of account or to stop or vary payment under the terms of the account. The notice must be signed by a party and received by the financial institution during the party's lifetime.
(b) A right of survivorship arising from the express terms of the account, Section 5-24-12, or a POD designation, may not be altered by will.
(Acts 1997, No. 97-644, p. 1177, §1.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 24 - Uniform Multiple-Person Accounts Act. › Article 2 - Ownership as Between Parties and Others. › Section 5-24-14 - Accounts and Transfers Nontestamentary.

Section 5-24-14
Accounts and transfers nontestamentary.
Except as a consequence of, and to the extent directed by, Section 5-24-15, a transfer resulting from the application of Section 5-24-12 is effective by reason of the terms of the account involved and this chapter and is not testamentary or subject to estate administration.
(Acts 1997, No. 97-644, p. 1177, §1.)