SB249 Alabama 2017 Session
Updated Jul 24, 2021
SB249 Alabama 2017 Session
Senate Bill
Expired
Current Status
Regular Session 2017
Session
1
Sponsor
Summary
- Primary Sponsor
-
Gerald O. DialRepublican - 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.
- Subjects
- Banks and Banking
Bill Actions
S
Indefinitely Postponed
S
Read for the second time and placed on the calendar
S
Read for the first time and referred to the Senate committee on Banking and Insurance
Bill Text
Documents
Source: Alabama Legislature