HB314 Alabama 2017 Session
Signed by Governor
Bill Summary
Sponsors
Session
Regular Session 2017
Title
Small loans under Ala. Small Loan Act, minimum and maximum amount of loans increased and corresponding interest rates, max term of loans, Secs. 5-18-4, 5-18-10, 5-18-13, 5-18-15 am'd.
Description
Under existing law, the Alabama Small Loan Act authorizes licensed lenders to make loans up to $1,000 subject to interest rates and charges provided by law
This bill would authorize licensed lenders under the act to make loans up to $1500 and adjust the interest rates for loans based on the lending authority. This bill would also provide a minimum three-month term on loans and a maximum term of 18 months
Relating to the Alabama Small Loan Act; to amend Sections 5-18-4, 5-18-10, 5-18-13, and 5-18-15, Code of Alabama 1975, to increase the lending authority and further provide for the interest rates; and to provide further for the minimum and maximum term of loans.
Subjects
Banks and Banking
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| May 17, 2017 | H | Delivered to Governor at 8:39 p.m. on May 17, 2017. |
| May 17, 2017 | H | Assigned Act No. 2017-373. |
| May 17, 2017 | H | Clerk of the House Certification |
| May 17, 2017 | S | Signature Requested |
| May 17, 2017 | H | Enrolled |
| May 17, 2017 | H | Passed Second House |
| May 17, 2017 | S | Motion to Read a Third Time and Pass adopted Roll Call 1216 |
| May 17, 2017 | S | Third Reading Passed |
| May 11, 2017 | S | Read for the second time and placed on the calendar |
| May 4, 2017 | S | Read for the first time and referred to the Senate committee on Banking and Insurance |
| May 4, 2017 | H | Holmes (A) motion to Carry Over Until 25th leg day Time lost Roll Call 823 |
| May 4, 2017 | H | Motion to Read a Third Time and Pass adopted Roll Call 824 |
| May 4, 2017 | H | Holmes (A) motion to Carry Over Until 26th leg day lost Roll Call 822 |
| May 4, 2017 | H | Third Reading Passed |
| March 9, 2017 | H | Read for the second time and placed on the calendar |
| February 23, 2017 | H | Read for the first time and referred to the House of Representatives committee on Financial Services |
Bill Calendar
| Type | Date | Location | Description |
|---|---|---|---|
| Hearing | May 10, 2017 | Room 320 at 11:30 | Senate B&I Hearing |
| Hearing | March 8, 2017 | Room 428 at 09:00 | House FS Hearing |
| Hearing | March 1, 2017 | Room 428 at 09:00 | House FS Public Hearing |
Bill Text
Bill Votes
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB314 Alabama 2017 Session - Introduced |