Ala. Admin. Code r. 155-2-2-.17

Current through Register Vol. 43, No. 1, October 31, 2024

Section 155-2-2-.17 - Minimum Loan Term - Alabama Consumer Credit Act

(1) The minimum term for repayment in all consumer credit transactions is thirty days for any credit transaction with an original amount financed that is less than two thousand dollars ($2,000).

Effective 8/1/2002.

Author: V. Lynne Windham, Associate Counsel

Statutory Authority: Code of Alabama 1975, Sections 5-19-3 and 5-19-21