Title 5 — Title 5

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 i…

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 l…

(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 felo…

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 exi…

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 bus…

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 pr…

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 …

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…

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. History: (Acts 1992, No. 92-597, p. 1227, §18.)

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. History: (Acts 1992, No. 92-597, p. 1227, §2…

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 GEN…

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 Ch…

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 an…

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 …

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 sh…

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 …

(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, …

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, bo…

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 rep…

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 pro…

This chapter shall be known and may be cited as the “Alabama Credit Card Act.” History: (Acts 1988, No. 88-85, p. 104, §1.)

Notwithstanding any other provision of law, for the purposes of this chapter, the following terms shall have the meanings prescribed by this section: (1) ALABAMA BANK. A bank which is organized under the laws of this state or of the United States and which has its principal place…

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 subsidiari…

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, la…

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. Su…

(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 an…

(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 …

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 w…

Repealed by Act 2007-397, p. 790, §2, effective January 1, 2008. History: (Acts 1988, No. 88-162, p. 256, §1.)

Repealed by Act 2007-397, p. 790, §2, effective January 1, 2008. History: (Acts 1988, No. 88-162, p. 256, §10.)

Repealed by Act 2007-397, p. 790, §2, effective January 1, 2008. History: (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.)

Repealed by Act 2007-397, p. 790, §2, effective January 1, 2008. History: (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.)

Repealed by Act 2007-397, p. 790, §2, effective January 1, 2008. History: (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.)

Repealed by Act 2007-397, p. 790, §2, effective January 1, 2008. History: (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…

Repealed by Act 2007-397, p. 790, §2, effective January 1, 2008. History: (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.)

Repealed by Act 2007-397, p. 790, §2, effective January 1, 2008. History: (Acts 1988, No. 88-162, p. 256, §6; Act 99-659, 2nd Sp. Sess., p. 113, §1.)

Repealed by Act 2007-397, p. 790, §2, effective January 1, 2008. History: (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.)

Specific Terms, Conditions, Etc., Included. Repealed by Act 2007-397, p. 790, §2, effective January 1, 2008. History: (Acts 1988, No. 88-162, p. 256, §8.)

Repealed by Act 2007-397, p. 790, §2, effective January 1, 2008. History: (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.)

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 o…

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 …

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 t…

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 transacti…

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 Un…

(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 $5…

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 dis…

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…

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 u…

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 d…

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…