Alabama Code 8-8-1.2. Maximum rates of interest – Loans secured by savings accounts
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Terms Used In Alabama Code 8-8-1.2
- 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
Any savings and loan association located within the State of Alabama may charge on loans secured by savings accounts a rate of interest of not more than two percent per annum in excess of the rate of return payable on any such savings account.