§ 5-27-1 Legislative findings
§ 5-27-2 Definitions
§ 5-27-3 Savings promotion contest authorized; conditions
§ 5-27-4 Oversight
§ 5-27-5 Construction; limitation on prizes or awards

Terms Used In Alabama Code > Title 5 > Chapter 27

  • commission: The Alabama Public Service Commission;

    (6) FEDERAL SAFETY STANDARDS. See Alabama Code 37-4-90

  • depositor: An individual member or customer of a financial institution who meets all of the following requirements:

    a. See Alabama Code 36-27-72

  • entry: A chance or chances obtained by a depositor to win a designated prize or prizes in a savings promotion contest by complying with the terms and conditions of a savings promotion contest. See Alabama Code 36-27-72
  • FINANCIAL INSTITUTION: A bank, savings institution, or credit union authorized to do business in Alabama under federal or state law. See Alabama Code 36-27-72
  • 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
  • Oversight: Committee review of the activities of a Federal agency or program.
  • PARTICIPATING FINANCIAL INSTITUTION: A financial institution, as defined above, that is sponsoring a savings promotion contest. See Alabama Code 36-27-72
  • Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
  • QUALIFYING ACCOUNT: A savings account or other savings product that is offered by a participating financial institution and that meets all of the following requirements:

    a. See Alabama Code 36-27-72