SB253 Alabama 2010 Session
Updated Jul 26, 2021
Summary
- Primary Sponsor
Wendell MitchellDemocrat- Session
- Regular Session 2010
- Title
- Mini-Code, consumer credit transactions, late charge increased under certain conditions, Sec. 5-19-4 am'd.
- Description
Under existing provisions of the Alabama Consumer Credit Act, there are limits to the amount of late charges that lenders may impose on the amount of the scheduled payment in default 10 days or more.
This bill would provide for an increase in the maximum late charge that certain lenders may charge if the late charge is stipulated in the contract.
- Subjects
- Banks and Banking
Bill Actions
Indefinitely Postponed
Read for the second time and placed on the calendar
Read for the first time and referred to the Senate committee on Banking and Insurance
Bill Text
Documents
Source: Alabama Legislature