Alabama State Banking Department

Requirements Checklist

Online

$620

Online

$500

• Licenses expire on December 31 of each year. Licensees are recommeded to renew by November 1.
• Licenses issued in November or December remain valid through the next renewal period.

• Banks chartered by this state or any other state, banks chartered by the United States, trust companies, savings or building and loan associations, savings banks and other thrift institutions, bank holding companies, thrift holding companies, credit unions, and federally constituted agencies shall be exempt from licensing.
• A seller, with respect to consumer credit sale transactions and the financing of charges permitted by this chapter, is not required to be licensed under this chapter.

AL Code § 5-19-22

ACCA "Mini-Code" Original Application

ACCA "Mini-Code" Original Application Instructions

$100 investigation fee + $500 license fee

• A summary of the education and experience of each owner, member, director and officer.
• A certified copy of the Applicant's Articles of Incorporation and By-Laws, partnership agreement, or Articles of Organization. If Applicant is an out-of state company, also attach a Certificate of Authority issued by the Alabama Secretary of State.
• Applicant's most recent financial statement prepared in accordance with standard accounting practices under the supervision of a CPA showing at least $25,000 in unencumbered cash assets for each location.
• Three letters of recommendation on each owner, member, director and officer from business people who have personal knowledge of the Applicant's business experience.
• A true and complete (front and back) copy of the Applicant's TILA disclosure.
• A properly executed ALEA "Application To Review Alabama Criminal History Record Information". Include a front and back copy of your valid photo identification card and a completed FBI-Application Fingerprint card for each owner, member, director, and officer, as applicable.
• A properly executed State Banking Department "Credit Report Release Form" for each owner, member, director, and officer, as applicable.
• A certified check for $100 for the investigation fee and a separate certified check for $500 for the annual license fee, made payable to the STATE BANKING DEPARTMENT.
• A statement of any business which Applicant proposes to conduct from the same location. If no other business will be conducted, a statement stating no other business will be conducted.

Online

$500

Annually by January 1.

Requirements Checklist

Online

$700

Online

$500

• Licenses expire on December 31 of each year. Licensees are recommeded to renew by November 1.
• Licenses issued in November or December remain valid through the next renewal period.