§ 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 - Alabama Monetary Transmission Act

  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • 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.
  • broker: A broker as defined in Section 34-27-2. See Alabama Code 35-11-450
  • circuit: means judicial circuit. See Alabama Code 1-1-1
  • client: A person or entity having an interest in commercial real estate that has entered into a written brokerage or agency agreement with a real estate broker relative to the commercial real estate. See Alabama Code 35-11-450
  • COMMERCIAL REAL ESTATE: Any real estate including real estate classified as agricultural for tax assessment purposes other than real estate containing one to four residential units. See Alabama Code 35-11-450
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • conveyance: A sale, lease, or other transfer of commercial real estate. See Alabama Code 35-11-450
  • 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
  • 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
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Felony: A crime carrying a penalty of more than a year in prison.
  • 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,
  • 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
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • 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.
  • Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
  • month: means a calendar month. See Alabama Code 1-1-1
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • 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
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • REAL ESTATE: Real property as defined in subdivision (7) of Section 1-1-1. See Alabama Code 35-11-450
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • 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.
  • Subpoena: A command to a witness to appear and give testimony.
  • Summons: Another word for subpoena used by the criminal justice system.
  • 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.
  • 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
  • United States: includes the territories thereof and the District of Columbia. See Alabama Code 1-1-1