Alabama § 8-7B-9
Full text of Alabama Code of Alabama § 8-7B-9, with citation guidance and answers to common questions.
§ 8-7B-9.
(a) The commission may suspend or revoke a license if the Alabama qualified payment stablecoin issuer:
(1) Violates this chapter or a rule adopted or an order issued under this chapter;
(2) Does not cooperate with an examination or investigation by the commission;
(3) Engages in fraud, intentional misrepresentation, or gross negligence;
(4) The competence, experience, character, or general fitness of the issuer, person in control of an issuer, key individual, or responsible individual of the authorized delegate indicates that it is not in the public interest to permit the issuer to issue a payment stablecoin;
(5) Engages in an unsafe or unsound practice; or
(6) Is insolvent, suspends payment of its obligations, or makes a general assignment for the benefit of its creditors.
(b) In determining the severity of the violation, the commission may consider the size and condition of the issuer’s payment stablecoin issuance, the magnitude of the loss, the gravity of the violation of this chapter, and the previous conduct of the person involved.
Frequently Asked Questions About Alabama § 8-7B-9
What does Code of Alabama § 8-7B-9 cover?
Section 8-7B-9 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 § 8-7B-9?
A common citation format is "Code of Alabama § 8-7B-9" (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 § 8-7B-9 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.