Alabama. The state recently enacted Senate Bill 347, which sets the procedures a borrower is to use to obtain a payoff statement for a residential mortgage, including the form of such a request and deadlines for responding to a request, as well as the method for providing the statement. Senate Bill 347 also mandates that a secured creditor has to record a mortgage satisfaction within 30 days after receipt of full payment and performance of the obligation. The bill also creates a process for enforcing the recording requirement. The bill’s provisions are effective...