Alabama § 8-37-8 - Enforcement.
Full text of Alabama Code of Alabama § 8-37-8 — Enforcement., with citation guidance and answers to common questions.
§ 8-37-8. Enforcement.
(a) The Superintendent of Banks may take action which is necessary or appropriate to enforce the provisions of this chapter and to protect GAP waiver holders in this state. After proper notice and opportunity for hearing, the superintendent may do both of the following:
(1) Order the creditor, administrator, or any other person not in compliance with this chapter to cease and desist from further GAP waiver-related operations which are in violation of this chapter.
(2) Impose a penalty of not more than five hundred dollars ($500) per violation and no more than ten thousand dollars ($10,000) in the aggregate for all violations of similar nature. For purposes of this chapter, a violation shall be considered to be of a similar nature if the violation consists of the same or similar course of conduct, action, or practice, irrespective of the number of times the action, conduct, or practice which is determined to be a violation of the chapter occurred.
(b) If requested by a retail seller, the Superintendent of Banks may determine that the insurance policy required by subsection (d) of Section 8-37-3 is not required for a retail seller that does not assign any of its finance agreements to any entity other than an affiliate and if the affiliated assignee agrees that the insurance policy is waived and the finance agreements will not be further assigned. The superintendent may require the evidence and assurances that the superintendent determines is needed to make that determination.
Frequently Asked Questions About Alabama § 8-37-8
What does Code of Alabama § 8-37-8 cover?
Section 8-37-8 ("Enforcement.") 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 § 8-37-8?
A common citation format is "Code of Alabama § 8-37-8" (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 § 8-37-8 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.