Alabama § 8-7A-8 - Issuance of License.
Full text of Alabama Code of Alabama § 8-7A-8 — Issuance of License., with citation guidance and answers to common questions.
§ 8-7A-8. Issuance of License.
(a) When an application is filed under this chapter, the commission shall investigate the applicant’s financial condition and responsibility, financial and business experience, character, and general fitness. The commission may conduct an on-site investigation of the applicant, the reasonable cost of which the applicant must pay. The commission shall issue a license to an applicant under this chapter if the commission finds that both of the following conditions have been fulfilled:
(1) The applicant has complied with Sections 8-7A-6 and 8-7A-7.
(2) The financial condition and responsibility, financial and business experience, competence, character, and general fitness of the applicant; and the competence, experience, character, and general fitness of the executive officers, managers, directors, and persons in control of the applicant indicate that it is in the interest of the public to permit the applicant to engage in money transmission.
(b) When an application for an original license under this chapter is determined by the commission to be complete, the commission shall promptly notify the applicant in writing of the date on which the application was determined to be complete, and:
(1) The commission shall approve or deny the application within 120 days after that date.
(2) If the application is not approved or denied within 120 days after that date, the application is approved, and the license takes effect as of the first business day after expiration of the 120-day period.
(c) The commission may for good cause extend the application period.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 8-7A-8
What does Code of Alabama § 8-7A-8 cover?
Section 8-7A-8 ("Issuance of License.") 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 § 8-7A-8?
A common citation format is "Code of Alabama § 8-7A-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 § 8-7A-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.