(a) If a person knowingly and willfully fails to give notice in violation of Section 41-9-85.2, the Securities Commission, after notice and hearing pursuant to the Alabama Administrative Procedure Act, may impose an assessment of up to the amount of the payment or obligation to pay and a civil penalty of up to one thousand dollars ($1,000) or ten percent of the payment or obligation to pay, whichever is greater.

Attorney's Note

Under the Alabama Code, punishments for crimes depend on the classification. In the case of this section:
ClassPrisonFine
Violationup to 30 daysup to $200
For details, see Ala. Code § 13A-5-7
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Terms Used In Alabama Code 41-9-85.6

  • following: means next after. See Alabama Code 1-1-1
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • person: includes a corporation as well as a natural person. See Alabama Code 1-1-1
  • Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
(b)

(1) If a person fails to pay the assessment and civil penalty imposed by subsection (a), the assessment and civil penalty may be recovered from the person by an action brought by the Securities Commission in any court of competent jurisdiction.
(2) Notwithstanding any provision of law to the contrary, an alleged failure by a convicted individual to give notice under Section 41-9-85.2 may not result in proceedings for an alleged violation of the conditions of probation, parole, conditional release, post release supervision, or supervised release, unless all of the following occur:

a. A victim of a crime makes one or more claims pursuant to this division.
b. The Securities Commission imposes an assessment or penalty, or both, against the convicted individual pursuant to this division.
c. The convicted individual fails to pay the total amount of the assessment or penalty within 60 days of the imposition of the assessment or penalty.
(c) The Securities Commission may recover, from any assessment or civil penalty imposed under subsection (a), the actual cost of investigation, negotiation, settlement, or prosecution of the violation for which a penalty has been imposed. The expenses may include personnel costs, travel, per diem expenses, and any cost associated with retaining non-employee personnel to assist in collection or prosecution of the action.
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