Alabama State Banking Department


Please Note

We are a service company that can help you file with the Alabama State Banking Department. We are not associated with this nor any other government agency. We offer paid services and software to help you file. You are not required to purchase our service to file - you may file directly with this agency without using our service.


Contact Information

Mailing address:
State Banking Department
P.O. Box 4600
Montgomery, AL 36103

Phone: 334-242-3452

Web: Home

Licenses

We track the following licenses with the Alabama State Banking Department in order to provide compliance services to our clients. As a client, you see this and other reference data in License Manager in-line with your licenses.

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Alabama Consumer Credit Act License - Non-Residential Lender

Agency:Alabama State Banking Department
Law:

AL Code § 5-19-22

Foreign Qualification is Prerequisite:Yes
Financial Requirements:

Applicants must have at least $25,000 in unencumbered cash assets for each location.

Registered Agent (Special Agency) Required?No

Automatic Exemption

Exemption Eligible Organizations:
  • Banks chartered by this state or any other state, banks chartered by the United States, trust companies, savings or building and loan associations, savings banks and other thrift institutions, bank holding companies, thrift holding companies, credit unions, and federally constituted agencies shall be exempt from licensing.
  • A seller, with respect to consumer credit sale transactions and the financing of charges permitted by this chapter, is not required to be licensed under this chapter.
Law:

AL Code § 5-19-22

Initial Registration

Form:

ACCA "Mini-Code" Original Application

Instructions:

ACCA "Mini-Code" Original Application Instructions

Agency Fee:

$100 investigation fee + $500 license fee

Notarize:Required
Required Attachments:
  • A summary of the education and experience of each owner, member, director and officer.
  • A certified copy of the Applicant's Articles of Incorporation and By-Laws, partnership agreement, or Articles of Organization. If Applicant is an out-of state company, also attach a Certificate of Authority issued by the Alabama Secretary of State.
  • Applicant's most recent financial statement prepared in accordance with standard accounting practices under the supervision of a CPA showing at least $25,000 in unencumbered cash assets for each location.
  • Three letters of recommendation on each owner, member, director and officer from business people who have personal knowledge of the Applicant's business experience.
  • A true and complete (front and back) copy of the Applicant's TILA disclosure.
  • A properly executed ALEA "Application To Review Alabama Criminal History Record Information". Include a front and back copy of your valid photo identification card and a completed FBI-Application Fingerprint card for each owner, member, director, and officer, as applicable.
  • A properly executed State Banking Department "Credit Report Release Form" for each owner, member, director, and officer, as applicable.
  • A certified check for $100 for the investigation fee and a separate certified check for $500 for the annual license fee, made payable to the STATE BANKING DEPARTMENT.
  • A statement of any business which Applicant proposes to conduct from the same location. If no other business will be conducted, a statement stating no other business will be conducted.

Registration Renewal

Filing Method:

Online

Agency Fee:

$500

Due:

Annually by January 1.

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