§ 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

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Appraisal: A determination of property value.
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • 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
  • commission: The Alabama Public Service Commission;

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

  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • 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
  • 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.
  • 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.
  • 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.
  • 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: Any individual, firm, joint venture, partnership, corporation, association, or joint stock association and includes any trustee, receiver, assignee, or personal representative thereof engaged in the transportation of hazardous liquids. See Alabama Code 37-4-90
  • property: includes both real and personal property. See Alabama Code 1-1-1
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • Statute: A law passed by a legislature.
  • 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.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.