AL SB288

Amends Section 6-2-37, Code of Alabama 1975, to clarify that civil actions to recover money owed on a credit card or other revolving credit account must be commenced within three years.

Establishes that the three-year limitation period is computed from the date of the last item on the account or from the time when, by contract or usage, the account is due.

Applies the three-year statute of limitations to actions recovering money due by open or unliquidated accounts, specifically including credit cards and other revolving credit accounts.

Becomes effective on the first day of the third month following passage and approval by the Governor, or its otherwise becoming law.