HB406 Alabama 2014 Session

Summary

Primary Sponsor

Rod Scott

Democrat

Co-Sponsors

Juandalynn GivanJohnny Mack MorrowSteve McMillanRalph HowardArtis McCampbellHarry ShiverDexter GrimsleyK.L. BrownPebblin W. WarrenAllen FarleyAlan BakerRichard BaughnDickie DrakeMerika ColemanChris EnglandGreg BurdineAlan HarperBarbara Bigsby BoydDarrio MeltonDan WilliamsDaniel H. BomanMike BallJack WilliamsAllen TreadawayTerri CollinsGeorge “Tootie” BandyJohn RobinsonJamie IsonJohn F. Knight JrRandy DavisDavid SessionsJim PattersonRon JohnsonPatricia ToddKen JohnsonLaura HallDimitri PolizosKurt WallaceMary MooreAdline ClarkeElaine BeechMicky HammonJoseph C. MitchellBerry ForteJames E. BuskeyMary Sue McClurkinJoe FaustBecky NordgrenDonnie ChesteenHoward SanderfordMark TuggleWayne JohnsonNapoleon Bracy

Session

Regular Session 2014

Title

Title loan business, licensure and regulation of, charges concerning title loans, definitions, penalties, Alabama Title Loan Act

Description

This bill would further license and regulate the title loan business.

This bill would provide definitions.

This bill would require licensure of title loan lenders and offices.

This bill would provide for charges, interest, and fees concerning title loans.

This bill would provide for fines, penalties, and enforcement for violations.

Amendment 621 of the Constitution of Alabama of 1901, now appearing as Section 111.05 of the Official Recompilation of the Constitution of Alabama of 1901, as amended, prohibits a general law whose purpose or effect would be to require a new or increased expenditure of local funds from becoming effective with regard to a local governmental entity without enactment by a 2/3 vote unless: it comes within one of a number of specified exceptions; it is approved by the affected entity; or the Legislature appropriates funds, or provides a local source of revenue, to the entity for the purpose.

The purpose or effect of this bill would be to require a new or increased expenditure of local funds within the meaning of the amendment. However, the bill does not require approval of a local governmental entity or enactment by a 2/3 vote to become effective because it comes within one of the specified exceptions contained in the amendment.

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Subjects

Title Loan Businesses