Section 5-18-21 Enforceability of provisions and agreements which violate chapter; liability of licensee for actual damage. - Alabama Statutes

Section 5-18-21

Enforceability of provisions and agreements which violate chapter; liability of licensee for actual damage.

Except where other specific remedies are provided in this chapter for violations, in which event those remedies shall apply, any provision of a loan contract which violates this chapter shall be unenforceable by the licensee to the extent, but only to the extent, of the violation, and the other remaining provisions and agreements shall be enforceable and shall not be void and shall not be affected by the violation. Except as set forth in subsection (l) of Section 5-18-15, any licensee who fails to comply with any requirement imposed under this chapter with respect to any person is liable to the person for the actual damage sustained by the person as the result of the failure.

(Acts 1959, No. 374, p. 966, §19; Acts 1996, No. 96-757, p. 1331, §1.)