Alabama Code 11-47-229. Exemption from state laws governing usury or prescribing or limiting interest rates
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Terms Used In Alabama Code 11-47-229
- state: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Alabama Code 1-1-1
- Usury: Charging an illegally high interest rate on a loan. Source: OCC
Each authority shall be exempt from the laws of the state governing usury or prescribing or limiting interest rates, including, without limitation, the provisions of Chapter 8 of Title 8.