Alabama Code 45-39-221.09. Exemption from usury and interest laws
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Terms Used In Alabama Code 45-39-221.09
- 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
The tourism board shall be exempt from all laws of the state governing usury or prescribing or limiting interest rates, including, but not limited to, Chapter 8 of Title 8.