State Specific Disclosures Additional Rights Openroad Lending Consumer credit act license original application. The consumer credit act application is for companies who will be a lender in the state of alabama. small loan act original license application. alabama small loan act application. pawnshop act original license application. alabama pawnshop act application. deferred presentment services act original license application.
Surety Bond Alabama Consumer Credit License Pre requisites for license applications: [general requirements] a net worth of $25,000 is required, however, the department may require the licensee to obtain a surety bond in lieu of the net worth requirement. surety bond limits will be set by regulation by the department. criminal background check and credit check: the department may require. Find out the licensing requirements for mortgage and consumer credit businesses in alabama with nmls resource center. Updated: 9 9 2022 page 1 of 3. alabama consumer credit license new application checklist. jurisdiction specific requirements. instructions. 1. a creditor, as defined, that makes consumer loans to alabama residents, makes consumer loans originated by an individual required to be licensed as a mortgage loan originator under the alabama safe act. Ala. code § 5 19 22 license to engage in business of making consumer loans or taking assignments of consumer credit contracts required; exceptions; application; investigation; standards for issuance; hearing; licensing under small loan act; fees; participation in nationwide mortgage licensing system and registry. from 2023 code of alabama.
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