Alabama Code 45-8A-20.15. Exemption from usury and interest laws
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Terms Used In Alabama Code 45-8A-20.15
- Authority: means the Anniston Downtown Development Authority, a public corporation organized pursuant to the provisions of this part. See Alabama Code 45-8A-20.01
- State: means the State of Alabama. See Alabama Code 45-8A-20.01
- Usury: Charging an illegally high interest rate on a loan. Source: OCC
The authority shall be exempt from the laws of the State of Alabama governing usury or prescribing or limiting interest rates, including, but without limitation to, the provisions of Chapter 8 of Title 8.