Section 5-19-8 – Assignee of Seller Subject to Claims and Defenses of Buyer.
Section 5-19-8 Assignee of seller subject to claims and defenses of buyer. With respect to a consumer credit sale, an assignee of the rights of the seller is subject to all claims and defenses of the buyer against the seller arising out of the sale, notwithstanding an agreement to the contrary, but the assignee’s liability […]
Section 5-19-25 – Cease and Desist Orders by Administrator; Penalties for Violation of This Chapter; Right to Counsel at Hearing; Judicial Review.
Section 5-19-25 Cease and desist orders by administrator; penalties for violation of this chapter; right to counsel at hearing; judicial review. After notice and hearing, the administrator may order a licensee under this chapter or a person acting on behalf of the licensee to cease and desist from engaging in violations of this chapter. A […]
Section 5-19-9 – Application of Payments When Buyer Indebted to Same Seller for Two or More Consumer Credit Sales.
Section 5-19-9 Application of payments when buyer indebted to same seller for two or more consumer credit sales. When the buyer is indebted to a particular seller for two or more consumer credit sales of goods and the goods which were the subject of two or more sales secure the buyer’s total debt to the […]
Section 5-19-26 – Appeals to Circuit Court From Order of Administrator; Appeals From Decision of Circuit Court.
Section 5-19-26 Appeals to circuit court from order of administrator; appeals from decision of circuit court. (a) Any interested party or intervener may appeal an order of the administrator to the Circuit Court of Montgomery County or to the circuit court of the county in which such party has its principal place of business in […]
Section 5-19-10 – Contract Provisions for Attorney’s Fees.
Section 5-19-10 Contract provisions for attorney’s fees. A contract for a consumer credit transaction with an original amount financed not exceeding three hundred dollars ($300) may not provide for payment by the debtor of attorney’s fees after default by the debtor. A contract for a consumer credit transaction with an original amount financed exceeding three […]
Section 5-19-29 – Injunctions.
Section 5-19-29 Injunctions. (a) The administrator may bring an action to restrain a creditor or a person acting in his behalf from engaging in any business subject to licensing under subsection (a) of Section 5-19-22 without first obtaining a license therefor as provided in Section 5-19-22 and a licensee or any person acting in his […]
Section 5-19-12 – Buyer’s Right to Cancel Home Solicitation Sale.
Section 5-19-12 Buyer’s right to cancel home solicitation sale. (a) A buyer has the right to cancel a home solicitation sale until midnight of the third business day following execution by the buyer of an agreement or offer to purchase, which notice is effective when delivered or when deposited in the mail properly addressed to […]
Section 5-19-30 – Penalty for Violations.
Section 5-19-30 Penalty for violations. A creditor who willfully makes charges in excess of those permitted by Section 5-19-3 or a creditor who willfully engages in the business of making loans in violation of subsection (a) of Section 5-19-22, or both, is guilty of a misdemeanor and, upon conviction, shall be sentenced to pay a […]
Section 5-19-13 – Repossession or Acceptance of Surrender of Goods Priced at One Thousand Dollars or Less.
Section 5-19-13 Repossession or acceptance of surrender of goods priced at one thousand dollars or less. If any seller or assignee of the seller repossesses or voluntarily accepts surrender of goods sold in which the seller or assignee has a security interest and the original cash price of the goods repossessed or surrendered was one […]
Section 5-19-31 – Nonapplicability of Chapter to Certain Transactions; Certain Laws Not Repealed or Amended.
Section 5-19-31 Nonapplicability of chapter to certain transactions; certain laws not repealed or amended. (a) The provisions of this chapter, except the provisions of subdivision (1) of Section 5-19-1 and Section 5-19-3, shall not apply (i) to any consumer credit transaction or other transaction involving an interest in real property or the sale, lease, or […]