Alabama § 40-12-83 - Conditional Sales Contracts, Drafts, Acceptances, Etc.; Dealers In.
Full text of Alabama Code of Alabama § 40-12-83 — Conditional Sales Contracts, Drafts, Acceptances, Etc.; Dealers In., with citation guidance and answers to common questions.
§ 40-12-83. Conditional Sales Contracts, Drafts, Acceptances, Etc.; Dealers In.
(a) Each person engaged in discounting or buying conditional sales contracts, drafts, acceptances, notes, or mortgages on personal property shall pay an annual license tax as follows: Employing capital of $50,000 or less, $5; $50,000 to $100,000, $10; $100,000 to $150,000, $15; $150,000 to $300,000, $25; $300,000 to $500,000, $100; $500,000 and up, $300, the payment of which shall be sufficient to engage in business in any county of the state except the county in which the principal office is located, in which case the county license tax shall be one half of the above schedule.
(b) Each person engaging in business of lending money on salaries or making industrial or personal loans shall pay an annual license tax of $100 for each county in which he engages in business.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 40-12-83
What does Code of Alabama § 40-12-83 cover?
Section 40-12-83 ("Conditional Sales Contracts, Drafts, Acceptances, Etc.; Dealers In.") is part of the Code of Alabama, the codified statutory law of Alabama. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alabama § 40-12-83?
A common citation format is "Code of Alabama § 40-12-83" (Alabama). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alabama law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alabama official source linked on this page or consult a licensed Alabama attorney.
How does Alabama § 40-12-83 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alabama can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alabama.