Alabama § 5-26-17 - Prohibited Acts and Practices.
Full text of Alabama Code of Alabama § 5-26-17 — Prohibited Acts and Practices., with citation guidance and answers to common questions.
§ 5-26-17. Prohibited Acts and Practices.
It is a violation of this chapter for a person or individual subject to this chapter to:
(1) Obtain property by intentional fraud or intentional misrepresentation;
(2) Solicit or enter into a contract with a borrower that provides in substance that the person or individual subject to this chapter may earn a fee or commission through “best efforts” to obtain a loan even though no loan is actually obtained for the borrower;
(3) Conduct any business covered by this chapter without holding a valid license if required under this chapter;
(4) Fail to make disclosures as required by this chapter;
(5) Fail to comply with this chapter or rules or regulations promulgated under this chapter;
(6) Collect, charge, or attempt to collect or charge any fee prohibited by this chapter; or
(7) Fail to account for monies belonging to a party to a residential mortgage loan transaction, as required by law or regulation.
Frequently Asked Questions About Alabama § 5-26-17
What does Code of Alabama § 5-26-17 cover?
Section 5-26-17 ("Prohibited Acts and Practices.") 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 § 5-26-17?
A common citation format is "Code of Alabama § 5-26-17" (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 § 5-26-17 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.