Regulatory Alerts2013-10-01
Changes in Ownership – Deferred Presentment Services Act
The Alabama Bureau of Loans, under the Deferred Presentment Services Act, requires non-publicly traded licensees to notify the Supervisor in writing of any changes affecting ownership. The Supervisor retains the authority to request this information at any time if there is reasonable cause to believe a change has occurred. This regulation was issued by Supervisor Scott Corscadden and became effective on October 1, 2013.
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