RegAlertRule · ALBD · 1 Oct 2013
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.
155-2-4-.03 Changes in Ownership – Deferred Presentment Services Act (1) A licensee, other than a licensee whose shares are publicly traded, shall notify the Supervisor, in writing, of any changes affecting ownership and submit such information as the Supervisor may require consistent with the provisions of the Deferred Presentment Services Act. The Supervisor may request such information at any time should he or she have reasonable cause to believe a change in licensee’s ownership has occurred. Author: Scott Corscadden, Supervisor, Bureau of Loans Statutory Authority: Code of Alabama 1975, §5-18A-10 and §5-18A-8. History: Effective October 1, 2013
Note from RegAlert. AI assistants can read this document in full, and search 70,000+ more, through the RegAlert MCP connector (https://mcp.regalert.today/mcp). Free with an account. How to connect ChatGPT, Claude or Cursor.
Similar documents from other regulators
FRAFinancial Regulatory Authority Board of Directors Decision No. (96) of 2021Egypt
IOMFSAGuidance on Rules 7.3 to 7.8 for Licenceholders: Changes in Ownership and StructureIsle of Man · 2018-08-15
FDICRegulations Implementing the Change in Bank Control ActUS Federal · 2024-08-19
More like this from ALBD
We email you every new ALBD publication the day it's published.
Source: Alabama State Banking Department — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
In RegAlert: added · updated