§ 5-18A-17 — Consent Orders; Civil or Criminal Penalties; Extraordinary Circumstances

Alabama § 5-18A-17

• Jurisdiction: Alabama
• Title 5: Banks and Financial Institutions
• Ch. 18A: Deferred Presentment Services Act

Text

(a) The supervisor may enter into consent orders at any time with any person to resolve any matter arising under this chapter. A consent order shall be signed by the person to whom it is issued, or a duly authorized representative, and shall indicate agreement to the terms contained therein. A consent order need not constitute an admission by any person that any provision of this chapter, or any rule, regulation, or order promulgated or issued pursuant to this chapter has been violated, nor need it constitute a finding by the supervisor that such person has violated any provision of this chapter or any rule, regulation, or order promulgated or issued hereunder.
(b) Notwithstanding the issuance of a consent order, the supervisor may seek civil or criminal penalties or compromise civil penalties concerning matters encompassed by the consent order.
(c) In cases involving extraordinary circumstances requiring immediate action, the supervisor may take any enforcement action authorized by this chapter without providing the opportunity for a prior hearing.

Legislative History

(Act 2003-359, p. 992, §17.)