Regulatory Alerts1997-10-01
155-2-3-.05 Restricted Activities Under the Alabama Small Loan Act
The Alabama regulatory authority issued Rule 155-2-3-.05 to restrict advertising practices for licensees under the Alabama Small Loan Act. The rule prohibits licensees from distributing materials resembling negotiable instruments or using unqualified superlatives like 'lowest rates' in their marketing. It further mandates that public communications may only identify the entity as a licensee under the Act without referencing other degrees of state supervision.
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