Ala. Admin. Code r. 155-2-1-.02 - Rulemaking Proceedings
(1)
Pursuant to the Alabama Small Loan Act, the Supervisor of the Bureau of Loans
is authorized to promulgate rules and regulations as may be necessary or
appropriate for the execution and enforcement of the Alabama Small Loan Act.
Pursuant to the Alabama Consumer Credit Act, the Superintendent of Banks (also
referred to as the "administrator") is authorized to promulgate rules and
regulations and official interpretations (all of which are referred to as
"regulations") and to issue written interpretations as may be necessary or
appropriate for the execution and enforcement of the Alabama Consumer Credit
Act.
(2) The Supervisor of the
Bureau of Loans is, by this regulation, an authorized designee for the purpose
of the issuance of written interpretations of the Alabama Consumer Credit Act
and the regulations thereunder and the Alabama Small Loan Act and the
regulations thereunder.
(3) The
regulations and interpretations of the State Banking Department-Bureau of Loans
implementing the Alabama Consumer Credit Act and Alabama Small Loan Act shall
be promulgated in accordance with the provisions of Section 5-19-21, and the
regulations shall be published in the Alabama Administrative
Monthly. Communications regarding regulatory proceedings should be
addressed to the State Banking Department - Bureau of Loans, Montgomery,
Alabama 36130.
Notes
Author: Scott Corscadden, General Counsel
Statutory Authority: Code of Alabama 1975, § 5-19-21, § 5-19-22 § 5-19-1, § 5-19-21
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