§ 8-7A-1 Short title
§ 8-7A-2 Definitions
§ 8-7A-3 Exclusions
§ 8-7A-4 Exemptions from licensing
§ 8-7A-5 License required
§ 8-7A-6 Application for license
§ 8-7A-7 Security
§ 8-7A-8 Issuance of license
§ 8-7A-9 Renewal of license
§ 8-7A-10 Net worth
§ 8-7A-11 Relationship between licensee and authorized delegate
§ 8-7A-12 Examinations
§ 8-7A-13 Reports
§ 8-7A-14 Records
§ 8-7A-15 Suspension and revocation
§ 8-7A-16 Unauthorized activities
§ 8-7A-17 Orders to cease and desist and other injunctive or civil relief
§ 8-7A-18 Consent orders
§ 8-7A-19 Civil penalties
§ 8-7A-20 Criminal penalties
§ 8-7A-21 Confidentiality
§ 8-7A-22 Cooperation
§ 8-7A-23 Investigation and subpoenas by commission
§ 8-7A-24 Party aggrieved by order entitled to hearing before commission; appeals from action of commission
§ 8-7A-25 Burden of proving an exemption or an exception from a definition
§ 8-7A-26 Making, amending, and rescinding rules and prescribing forms
§ 8-7A-27 Interpretive opinions by the commission

Terms Used In Alabama Code > Title 8 > Chapter 7A

  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • APPARENT OWNER: A person whose name appears on the records of a holder as the person entitled to property held, issued, or owing by the holder. See Alabama Code 35-12-71
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • BUSINESS ASSOCIATION: A corporation, joint stock company, investment company, partnership, unincorporated association, joint venture, limited liability company, business trust, trust company, safe deposit company, financial organization, insurance company, mutual fund, utility, or other business entity consisting of one or more persons, whether or not for profit. See Alabama Code 35-12-71
  • Commercial or nongame fish: as used in this article shall be limited to those freshwater fish designated as such by the Department of Conservation and Natural Resources and all species of saltwater fish. See Alabama Code 9-11-170
  • domicile: The state of incorporation of a corporation and the state of the principal place of business of a holder other than a corporation. See Alabama Code 35-12-71
  • Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) Source: OCC
  • Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
  • 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
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • FINANCIAL ORGANIZATION: A savings and loan association, building and loan association, industrial loan organization, credit union, cooperative bank, bank, or banking organization. See Alabama Code 35-12-71
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Fraud: Intentional deception resulting in injury to another.
  • Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
  • holder: A person in possession of property belonging to another, or who is a trustee in case of a trust, obligated to hold for the account of, or deliver to, or pay to, the owner or apparent owner as applicable, property that is subject to this article. See Alabama Code 35-12-71
  • INSURANCE COMPANY: An association, corporation, or fraternal or mutual benefit organization, whether or not for profit, engaged in the business of providing life endowments, annuities, or insurance, including, but not limited to, accidental, burial, casualty, credit life, contract performance, dental, disability, fidelity, fire, health, hospitalization, illness, life, malpractice, marine, mortgage, surety, wage protection, and workers' compensation insurance. See Alabama Code 35-12-71
  • Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
  • juries: include courts or judges in all cases when a jury trial is waived, or when the court or judge is authorized to ascertain and determine the facts as well as the law. See Alabama Code 1-1-1
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • mineral: Gas; oil; coal; other gaseous, liquid, and solid hydrocarbons; oil shale; cement material; sand and gravel; road material; building stone; chemical raw material; gemstone; fissionable and nonfissionable ores; colloidal and other clay; steam and other geothermal resource; or any other substance defined as a mineral by the law of this state. See Alabama Code 35-12-71
  • MINERAL PROCEEDS: Amounts payable for the extraction, production, or sale of minerals, or, upon the abandonment of those payments, all payments that become payable thereafter. See Alabama Code 35-12-71
  • month: means a calendar month. See Alabama Code 1-1-1
  • oath: includes affirmation. See Alabama Code 1-1-1
  • officer: The term includes every person authorized to enforce the game and fish laws of this state, and whenever the possession, use, importation, transportation, storage, sale, offering, or exposing for sale of game birds, animals, or fish is prohibited or restricted, the prohibition or restriction shall extend to and include every part of the game, bird, animal, or fish, and a violation as to each animal, bird, or fish, or part thereof, shall be a separate offense. See Alabama Code 9-11-1
  • owner: A person who has a legal or equitable interest in property subject to this article or the person's legal representative. See Alabama Code 35-12-71
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • person: An individual, business association, financial organization, estate, trust, government, governmental subdivision, agency, or instrumentality, or any other legal or commercial entity. See Alabama Code 35-12-71
  • preceding: means next before. See Alabama Code 1-1-1
  • property: includes both real and personal property. See Alabama Code 1-1-1
  • property: Tangible property held in a safe deposit box or other safekeeping depository in this state, and fixed and certain interest in intangible property that is held, issued, or owed in the course of a holder's business, or by a government, governmental subdivision, agency, or instrumentality, and all income or increments therefrom. See Alabama Code 35-12-71
  • record: Information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Alabama Code 35-12-71
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • rules: Rules necessary to carry out this article adopted pursuant to the Administrative Procedure Act. See Alabama Code 35-12-71
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Spearing: as used in this article shall be limited to the use of a spear or similar instrument that is held in the hand of the person using same and the use of a weapon, other than a firearm, which propels or forces a projectile, arrow or similar device therefrom to which a wire, rope, line, cord or other means of recovering the propelled projectile, arrow or similar device is attached and is secured to the weapon or to the person using the weapon. See Alabama Code 9-11-170
  • state: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Alabama Code 1-1-1
  • state: A state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Alabama Code 35-12-71
  • Subpoena: A command to a witness to appear and give testimony.
  • Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
  • Testify: Answer questions in court.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • treasurer: The Treasurer of the State of Alabama, or the designee of the Treasurer. See Alabama Code 35-12-71
  • Trustee: A person or institution holding and administering property in trust.
  • Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
  • utility: Any person who owns or operates, for public use, any plant, equipment, real property, franchise, or license for the transmission of communications or the production, storage, transmission, sale, delivery, or furnishing of electricity, water, steam, or gas. See Alabama Code 35-12-71
  • writing: includes typewriting and printing on paper. See Alabama Code 1-1-1
  • year: means a calendar year; but, whenever the word "year" is used in reference to any appropriations for the payment of money out of the treasury, it shall mean fiscal year. See Alabama Code 1-1-1