Regulatory Alerts1997-10-01
Alabama Consumer Credit Act: Other Business Activities
The Alabama Department of Financial Institutions prohibits licensees from conducting other business in the same physical premises as their licensed location without prior written approval from the Supervisor. Such activities must not violate the Act, require separate record-keeping subject to departmental review, and necessitate that licensees maintain copies of all written permissions at each licensed site. These regulations are issued under the authority of the Code of Alabama 1975, Section 5-19-21, and became effective on October 1, 1997.
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