§ 5-20-2 Short title
§ 5-20-3 Definitions
§ 5-20-4 Establishment or acquisition of a credit card bank
§ 5-20-5 Charges, rates, and fees
§ 5-20-6 Application for approval; filing fee
§ 5-20-7 Supervision and enforcement
§ 5-20-8 Applicable law
§ 5-20-9 Severability
§ 5-20-10 Construction with other laws; repeal of conflicting laws

Terms Used In Alabama Code > Title 5 > Chapter 20 - Alabama Credit Card Act

  • commission: The Alabama Peace Officers' Standards and Training Commission established by Section 36-21-41. See Alabama Code 36-21-40
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. Source: OCC
  • fund: The Alabama Peace Officers' Standards and Training Fund provided for in Section 36-21-47. See Alabama Code 36-21-40
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • LAW ENFORCEMENT AGENCY: The state Department of Public Safety, the Alabama Board of Corrections, the police department of each incorporated city or town, the department of each sheriff of the state, including all deputy sheriffs, the Enforcement Division of the State Department of Conservation and Natural Resources and the Public Service Commission, and each public agency in the state charged with the enforcement of any laws and the officers or employees of which have power as such officials or employees to make arrests. See Alabama Code 36-21-40