Alabama Administrative Code

(1) The Board shall assign a license number to a professional bail bondsman, professional surety, or recovery agent, beginning the year of first issuance followed by a number code. (2) Should a licensee have a legal name change, the licensee's assigned license number shall remain…

(1) Before any individual, employee and/or company engages in any work and/or carries out any duties and/or responsibilities as a professional bondsman or professional surety bondsman, said individual, employee and/or company must have a shall first obtain a current bail bond lic…

(1) Licensees must be prepared to present a current copy of his/her license when executing a bail bond to any persons authorized to approve bail. (2) Licensees must carry a current copy of his/her own license when conducting business as a professional bail bondsman, professional …

(1) Any person seeking licensure as an apprentice shall submit an application on a form provided by the Board. (2) No person shall act as an apprentice prior to being issued an Apprentice License by the Board. (3) Any person seeking licensure as an apprentice shall submit an affi…

(1) All professional bail companies, professional surety companies, professional bondsmen, professional surety bondsmen, and recovery agents, commencing and/or conducting business in any judicial circuit in this state, shall obtain and maintain a current license, which shall expi…

(1) Renewal applications must be received at the Board's office by September 30th of each year. All licensees shall submit renewal applications in accordance with the Board's application requirements (which annually require a minimum number of hours of educational or instructiona…

(1) A license will be designated as "Expired" effective November 1st of each year if the Board has not received a licensee's completed renewal application form and assessed late fee penalty, if applicable, by 11:59 p.m. on October 31st* Once a license has expired, an individual a…

(1) A license expires if a completed renewal application and late fee penalty, if applicable, is not received at the Board's office by 11:59 p.m. on October 31st each year. A licensees' expired license can be reinstated under the following limited conditions: (2) By submitting a …

(1) Licensees shall annually complete not fewer than eight (8) hours of continuing education courses presented by a Board- approved provider which shall be published on the Board's website except for the following stated limited exception and exemptions: (a) Licensees who commenc…

The Board will notify all individuals and companies with an expired license of their expired license status in writing and will notify the individual's employer of record and will post the name of each individual and/or company with an expired license on the Board's website. The …

(1) A license to a professional bail bondsman, professional surety, or recovery agent, shall not be issued or renewed to any individual, and may be revoked, if that individual: (a) Has been convicted of a felony or any offense involving moral turpitude, as determined by the Alaba…

(1) A license to a professional bail company and/or professional surety company shall not be issued or renewed to any company, and may be revoked, if that company: (a) Continues to employ individuals who have been convicted of a felony or any offense involving moral turpitude, as…

(1) When a company or licensee takes physical possession of collateral, a pre-numbered written receipt must be given to the client reflecting the following: (a) The name, address, and telephone number of the company; (b) The name, date, and signature of the client giving collater…

(1) If collateral received is in excess of the bail forfeited, such excess shall be returned to the client immediately after the collateral is applied to the forfeiture. (2) Documented and reasonable expenses incurred due to a breach of the contract or Court Order may be deducted…

(1) A client shall be entitled to a refund of his/her premium when the client is surrendered by his bail bondsman at any time prior to the final termination of the liability of the bond, provided that the client has not committed any of the following: (a) Failed to appear for cou…

(1) Any Company that is required to use documents, power of attorney, or any materials from general Surety Agency shall use only original documents. (2) Any Company that owes monies to any general Surety Agent or Court shall not change their Surety until all monies are paid in fu…

(1) Complaints may be filed pursuant to the Alabama Bail Bond Regulatory Act, Chapter 13 of Title 15, Code of Ala. 1975. (2) Any person desiring to make a complaint concerning an alleged violation of the Alabama Bail Bond Regulatory Act, Chapter 13 of Title 15, Code of Ala. 1975 …

(1) All complaints received by the Executive Directory shall be forwarded to the Investigate Committee and may be subjected to investigation. Complaints must be submitted within one hundred eighty (180) days of the alleged occurrence. The Investigative Committee shall be appointe…

The Board may appoint a hearing officer to preside at hearings, and the hearing officer shall prepare a written recommendation to the Board. The Board will review such report within thirty (30) calendar days to render a decision. The hearing officer is selected pursuant to the Al…

(1) All hearings shall be conducted in the same manner as hearings held by the Board under the Alabama Bail Bond Regulatory Act, Chapter 13 of Title 15, Code of Ala. 1975, unless otherwise stated. (2) At the discretion of the investigative committee, should a violation be found, …

(1) All fees and fines paid to the Board are non-refundable. (2) All fees and fines are payable by certified check, cashier's check, corporate or business check, or money order.(a) Counter checks are not an acceptable method of payment. (b) Personal checks will not be accepted. (…

(1) The Alabama State Banking Department is a statutorily-created department of the State of Alabama. (2) The Department is under the direction, supervision, and control of the Superintendent of Banks, who is appointed by the Governor. (3) The Department has a statutorily-created…

(1) Pursuant to the Alabama Small Loan Act, the Supervisor of the Bureau of Loans is authorized to promulgate rules and regulations as may be necessary or appropriate for the execution and enforcement of the Alabama Small Loan Act. Pursuant to the Alabama Consumer Credit Act, the…

(1) Any person who wishes to propose that the State Banking Department adopt, amend, or repeal any consumer finance regulation shall submit said proposal in the following form: PETITION FOR ADOPTION AMENDMENT OR REPEAL OF REGULATION 1. This is a petition: () To adopt a regulation…

(1) The Superintendent or his designee may issue written interpretations of the Alabama Consumer Credit Act and/or the regulations issued thereunder and the Alabama Small Loan Act and/or the regulations issued thereunder. A request for a written interpretation must be made in wri…

(1) The following charges are in addition to those specifically required by the Alabama Consumer Credit Act or Alabama Small Loan Act: a. Copies $ 1.00 per page b. Certificate of Existence of License $10.00 c. Certification of Records $10.00 d. List of Licensees $25.00 e. Amendme…

Notes Ala. Admin. Code r. 155-2-1-.06 Effective 10/1/1997; Repealed 1/1/2020. Author: Scott Corscadden, Supervisor, Bureau of Loans Statutory Authority: Code of Alabama 1975, § 5-19-21, § 5-19-22, § 5-18-6

(1) Examination fees shall be per day or a fraction thereof for each examiner, and the fee shall be due and payable at the close of the examination. The examination fees for examinations conducted under the various Acts shall be as follows: a. Alabama Small Loan Act - $200.00; b.…

(1) The provisions of the Alabama Consumer Credit Act require that a license for each proposed location be obtained from the State Banking Department - Supervisor of the Bureau of Loans prior to engaging in the business of making consumer loans or taking assignments of consumer c…

(1) Application for renewal of license shall be submitted in the form prescribed by the Supervisor and shall include such information, statements and representations as may otherwise be required by the Supervisor. Notes Ala. Admin. Code r. 155-2-2-.02 Effective 10/1/1997. Author:…

(1) Any amendment of the license shall require the prior approval of the Supervisor. Authorized amendments, including but not limited to changes in location or trade name, shall be made only upon written request of the licensee and submission of the current license. (2) Failure t…

(1) A licensee, other than a licensee whose shares are publicly traded, shall notify the Supervisor, in writing, of any changes affecting ownership and submit such information as the Supervisor may require consistent with the provisions of the Alabama Consumer Credit Act. The Sup…

(1) Each licensed location shall maintain a file containing a copy of the Act and a copy of all current regulations issued thereunder. Notes Ala. Admin. Code r. 155-2-2-.05 Effective 10/1/1997. Author: Scott Corscadden, General Counsel Statutory Authority: Code of Alabama 1975, §…

(1) In addition to the reports and records required elsewhere in the Act and regulations, each licensee shall maintain and/or submit to the Bureau of Loans such other reports and records at such time and in such form as the Supervisor shall require. Notes Ala. Admin. Code r. 155-…

Any and all collection activity procedures and practices by a licensee must be conducted in accordance with applicable law. Unreasonable collection tactics shall include but not be limited to any conduct by the licensee or employee or agent thereof which: (1) Causes the borrower …

(1) A licensee shall not establish or conduct any other business in the same physical premises as the licensed place of business without having obtained prior written approval of the Supervisor. (2) Such other business must be conducted in a manner that will involve no evasion or…

(1) For the purposes of determining whether the finance charges on any credit transaction with an amount financed of less than $2,000 produces a yield greater than the yield permitted by Section 5-19-3(a), the calculation must be determined using the annual percentage rate result…

(1) Unless otherwise approved pursuant to Regulation 155-2-2-.10(6), each licensee shall maintain adequate files at each licensed location containing all information necessary to verify compliance with the Alabama Consumer Credit Act and regulations, including, but not limited to…

(1) On a pre-computed consumer credit transaction, a deferral charge may be computed by multiplying the final month finance charge refund under the Rule of 78s, exclusive of any earned additional day charges included in the first payment and/or any prepaid finance charges, by the…

(1) All insurance offered and written pursuant to Section 5-19-20 shall be with a company licensed to do business in the State of Alabama and shall be in accordance with the Rules, Regulations and Orders of the Alabama Department of Insurance in effect at the time the insurance i…

(1) When any debt is prepaid in full, renewed, or refinanced, all insurance provided by a creditor, either as seller, lessor, lender or assignee, (such as credit life, accident and health, involuntary unemployment insurance, single interest or modified single interest auto and pr…

Notes Ala. Admin. Code r. 155-2-2-.14 Effective 10/1/1997; Repealed 1/1/2020. Author: Scott Corscadden, Supervisor, Bureau of Loans Statutory Authority: Code of Alabama 1975, § 5-19-21, § 5-19-24, § 5-2A-24

(1) If more than one existing pre-computed consumer credit transaction contract will be consolidated, the annual percentage rate for the newly consolidated pre-computed consumer credit transaction contract shall not exceed the lowest annual percentage rate of any prior existing p…

(1) In addition to the records required elsewhere in the Alabama Consumer Credit Act and Regulations, each licensee shall, on or before the first day of May of each year, submit to the Superintendent of Banks a report covering its activities under the Alabama Consumer Credit Act.…

(1) The minimum term for repayment in all consumer credit transactions is thirty days for any credit transaction with an original amount financed that is less than two thousand dollars ($2,000). Notes Ala. Admin. Code r. 155-2-2-.17 Effective 8/1/2002. Author: V. Lynne Windham, A…

(1) Any person engaged in the business of providing consumer mortgage loan modification services for loans secured by residential real property located in the State of Alabama, for compensation, is required to be licensed under Chapter 19 or Chapter 25 of Title 5 of the Code of A…

(1) The provisions of the Alabama Small Loan Act require that a license be obtained from the Alabama State Banking Department-Bureau of Loans prior to lending money under that Act. (2) Prior to the issuance of a license, the applicant shall have executed and submitted a license a…

(1) The provisions of the Alabama Small Loan Act require that a license be obtained from the Alabama State Banking Department-Bureau of Loans prior to lending money under that Act. (2) Prior to the issuance of a license, the applicant shall have executed and submitted a license a…

(1) Any amendment of the license shall require the prior approval of the Supervisor. Authorized amendments, including but not limited to changes in location or trade name, shall be made only upon written request of the licensee and submission of the current license. Notes Ala. Ad…

(1) A licensee, other than a licensee whose shares are publicly traded, shall notify the Supervisor, in writing, of any changes affecting ownership and submit such information as the Supervisor may require consistent with the provisions of the Small Loan Act. The Supervisor may r…