Section 5-20-10 Construction with other laws; repeal of conflicting laws. To the extent other laws or parts of laws, whether general, local, or general laws of local application, conflict with this chapter, such other laws or parts of laws are hereby amended or repealed to the extent of such conflict as necessary to permit full […]
Section 5-20-2 Short title. This chapter shall be known and may be cited as the “Alabama Credit Card Act.” (Acts 1988, No. 88-85, p. 104, §1.)
Section 5-20-3 Definitions. Notwithstanding any other provision of law, for the purposes of this chapter, the following terms shall have the meanings prescribed by this section: (1) ALABAMA BANK. A bank which is organized under the laws of this state or of the United States and which has its principal place of business in this […]
Section 5-20-4 Establishment or acquisition of a credit card bank. Subject to the provisions of this chapter and to the prior approval of the superintendent, any bank holding company, bank holding company subsidiary, domestic lender or foreign lender may, either singly or jointly with other bank holding companies, bank holding company subsidiaries, domestic lenders or […]
Section 5-20-5 Charges, rates and fees. Notwithstanding the provisions of any other law, in connection with a credit card account, any domestic lender or any credit card bank may provide in the credit card agreement such charges for cash advances, charges for extensions of credit in excess of pre-established limits, late fees or delinquency charges, […]
Section 5-20-6 Application for approval; filing fee. Any bank holding company, bank holding company subsidiary, domestic lender or foreign lender proposing to establish or acquire a credit card bank pursuant to this chapter shall file an application with the superintendent for prior approval of such establishment or acquisition. Such application shall contain such information as […]
Section 5-20-7 Supervision and enforcement. (a) All credit card banks organized under the laws of this state shall be subject to the supervision, regulation, and examination of the superintendent and the superintendent shall have all enforcement powers with respect thereto as are provided in this title. (b) In the event any credit card bank does […]
Section 5-20-8 Applicable law. (a) A credit card bank shall be subject to all provisions of this title except to the extent any rights, powers, privileges, provisions or limitations of this title are inconsistent with the rights, powers, privileges, provisions or limitations of this chapter. (b) A credit card bank shall not be considered a […]
Section 5-20-9 Severability. If any provision or clause of this chapter, including without limitation Section 5-20-4(8), or any application thereof to any entity or circumstances is held invalid, such invalidity shall not affect the other provisions or applications of the chapter which can be given effect without the invalid provision or application, and to this […]
