SB70 Alabama 2011 Session
Summary
- Primary Sponsor
-
Gerald O. DialRepublican - Session
- Regular Session 2011
- Title
- Alabama Consumer Credit Act (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 further for a maximum late charge, based on Section 5-18-15.1, Code of Alabama 1975, of the Alabama Small Loan Act, that certain lenders may charge if the late charge is stipulated in the contract.
- Subjects
- Banks and Banking
Bill Actions
Pending third reading on day 8 Favorable from Banking and Insurance with 1 amendment
Indefinitely Postponed
Reported from Banking and Insurance as Favorable with 1 amendment
Read for the first time and referred to the Senate committee on Banking and Insurance
Bill Text
Documents
Source: Alabama Legislature