Regulatory Alerts1997-10-01
Changes in Ownership - Small Loan Act
The Alabama regulatory authority requires non-publicly traded small loan licensees to notify the Supervisor in writing of any changes affecting ownership. Licensees must submit information as requested by the Supervisor, who may demand such details at any time if there is reasonable cause to believe a change has occurred. This regulation is authorized under the Code of Alabama 1975 and became effective on October 1, 1997.
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