Title 8 — Title 8
0 chapters · 1,049 sections in this title.
Ala. Code § 8-7B-1 [Effective October 1, 2026.]
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(a) This chapter shall be known and may be cited as the Financial Innovation and Market Expansion Act. (b) The intent of this chapter is to implement Section 4(c) of the federal Guiding and Establishing National Innovation for U.S. Stablecoins Act, 12 U.S.C. § 5903(c), governing …
Ala. Code § 8-7B-10 [Effective October 1, 2026.]
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(a) If the commission determines that any person has engaged in or is about to engage in any act or practice constituting a violation of this chapter or a rule adopted or an order issued under this chapter, the commission may do any of the following: (1) Issue an order, with or w…
Ala. Code § 8-7B-11 [Effective October 1, 2026.]
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(a) Any person aggrieved by an order or denial issued under this chapter shall be entitled to a hearing, as authorized for contested cases, pursuant to the Alabama Administrative Procedure Act, Chapter 22 of Title 41, if the aggrieved person, within 28 days after delivery of the …
Ala. Code § 8-7B-12 [Effective October 1, 2026.]
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The commission may enter into a consent order at any time with a person to resolve a matter arising under this chapter or a rule adopted or order issued under this chapter. A consent order must be signed by the person to whom it is issued or by the person’s authorized representat…
Ala. Code § 8-7B-13 [Effective October 1, 2026.]
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(a) It is unlawful for any person, in connection with the offer, sale, or purchase of any stablecoin, directly or indirectly, to knowingly: (1) Employ any device, scheme, or artifice to defraud a person; (2) Make any untrue statement of a material fact or to omit to state a mater…
Ala. Code § 8-7B-14 [Effective October 1, 2026.]
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(a) The commission may assess a civil penalty against a person that violates this chapter or a rule adopted or an order issued under this chapter in an amount not to exceed one hundred thousand dollars ($100,000) per day for each day the violation is outstanding, plus the state’s…
Ala. Code § 8-7B-15 [Effective October 1, 2026.]
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(a) Except as otherwise provided in subsection (b), all information or reports obtained by the commission from the applicant, licensee, or authorized delegate and all information contained in or related to examination, investigation, operation, or condition reports prepared by, o…
Ala. Code § 8-7B-16 [Effective October 1, 2026.]
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In any insolvency proceeding of an Alabama qualified payment stablecoin issuer, including any insolvency proceeding administered by the commission, the following shall apply: (1) The claim of a person holding any payment stablecoin issued by the Alabama qualified payment stableco…
Ala. Code § 8-7B-2 [Effective October 1, 2026.]
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For the purposes of this chapter, the following terms have the following meanings: (1) ALABAMA QUALIFIED PAYMENT STABLECOIN ISSUER. A stablecoin issuer licensed and approved by the commission through the licensing process in Section 8-7B-4. (2) AUTHORIZED PAYMENT STABLECOIN. A pa…
Ala. Code § 8-7B-3 [Effective October 1, 2026.]
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(a) No person may issue a payment stablecoin in the state, unless that person is a permitted payment stablecoin issuer. (b) Beginning on July 18, 2028, no digital asset service provider may offer or sell a payment stablecoin to a person in the state, unless the payment stablecoin…
Ala. Code § 8-7B-4 [Effective October 1, 2026.]
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(a)(1) The commission shall receive, review, and consider for approval applications from any person that seeks to issue or sell payment stablecoins as an Alabama qualified payment stablecoin issuer, and the commission shall establish a process and framework for the licensing, reg…
Ala. Code § 8-7B-5 [Effective October 1, 2026.]
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A provider is not required to obtain any other license or charter except for the requirement under this chapter to perform the activities permitted in Section 8-7B-3. History: (Act 2026-354, §1.)
Ala. Code § 8-7B-6 [Effective October 1, 2026.]
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No later than 180 days after the approval of an application, and afterwards on an annual basis, each Alabama qualified payment stablecoin issuer shall submit to the commission a certification that the issuer, consistent with the requirements of the GENIUS Act, has implemented ant…
Ala. Code § 8-7B-7 [Effective October 1, 2026.]
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(a) An Alabama qualified payment stablecoin issuer shall comply with 12 U.S.C. § 5902(a) and any regulations adopted by federal governmental entities implementing the GENIUS Act. (b) The commission, through the adoption of rules pursuant to Section 8-7B-8 or other means of notice…
Ala. Code § 8-7B-8 [Effective October 1, 2026.]
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(a)(1) The commission shall adopt rules to administer and implement this chapter. These rules may include provisions that govern the recovery of the cost of administering and enforcing this chapter by imposing and collecting fees, fines, penalties, and costs associated with appli…
Ala. Code § 8-7B-9 [Effective October 1, 2026.]
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(a) The commission may suspend or revoke a license if the Alabama qualified payment stablecoin issuer: (1) Violates this chapter or a rule adopted or an order issued under this chapter; (2) Does not cooperate with an examination or investigation by the commission; (3) Engages in …