Regulatory Alerts2013-10-01
Amendment of License – Deferred Presentment Services Act
The Bureau of Loans, under Supervisor Scott Corscadden, mandates that any amendment to a deferred presentment services license requires prior written approval. Licensees must submit a written request and the current license for changes such as location or trade name. Failure to obtain this approval may result in a fine not exceeding $500.00.
155-2-4-.02 Amendment of License – Deferred Presentment Services Act (1) Any amendment of the license shall require the prior approval of the Supervisor. Authorized amendments, including but not limited to changes in location or trade name, shall be made only upon written request of the licensee and submission of the current license. (2) Failure to obtain the prior approval of the Supervisor may result in a fine not to exceed $500.00. Author: Scott Corscadden, Supervisor, Bureau of Loans Statutory Authority: Code of Alabama 1975, §5-18A-10 and §5-18A-7. History: Effective October 1, 2013