Supplement: AL SB48 | 2022 | Regular Session | SB48 for
For additional supplements on Alabama SB48 please see the Bill Drafting List
Bill Title: Motor vehicle, financing and lease agreements, lease waiver agreements to pay deficiency balances at end of lease, motor vehicle value protection agreements to reduce deficiency balances, Secs. 8-37A-1 to 8-37A-6, inclusive, added; Sec. 8-37-2 am'd.
Status: 2022-03-17 - Assigned Act No. 2022-179. [SB48 Detail]
Download: Alabama-2022-SB48-SB48_for.html
Bill Title: Motor vehicle, financing and lease agreements, lease waiver agreements to pay deficiency balances at end of lease, motor vehicle value protection agreements to reduce deficiency balances, Secs. 8-37A-1 to 8-37A-6, inclusive, added; Sec. 8-37-2 am'd.
Status: 2022-03-17 - Assigned Act No. 2022-179. [SB48 Detail]
Download: Alabama-2022-SB48-SB48_for.html
| Committee: | Sponsor: Whatley |
| Analyst: John Friedenreich | Date: 05/12/2022 |
FISCAL NOTE
Senate Bill 48 (Act 2022-179) as enacted will increase the administrative obligations of the State Banking Department by an undetermined amount to enforce the provisions of this act, which include the examination and review of reserve accounts maintained by providers administering motor vehicle protection agreements. This act authorizes the Superintendent of Banking to impose administrative fines, in an amount up to $500 per violation, but not to exceed $10,000 in total for all violations of similar nature, to be deposited into the State Banking Fund and used for the expenses of the Department.
