Alabama Code 41-10-153. Historical preservation authorities – Exempt from usury or other interest limiting laws
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Terms Used In Alabama Code 41-10-153
- 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 such authority is and shall be exempt from the laws of the State of Alabama governing usury or prescribing or limiting interest rates, including, without limitation, the provisions of Chapter 8 of Title 8.