|§ 36-27-70||Who is eligible for additional credit|
|§ 36-27-71||Conditions precedent to receipt of credit|
|§ 36-27-72||Disqualification of credit|
|§ 36-27-73||Deduction for administrative costs|
Terms Used In Alabama Code > Title 36 > Chapter 27 > Article 2 > Division 3
- Conviction: A judgement of guilt against a criminal defendant.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- depositor: An individual member or customer of a financial institution who meets all of the following requirements:
a. See Alabama Code 36-27-72
- entry: A chance or chances obtained by a depositor to win a designated prize or prizes in a savings promotion contest by complying with the terms and conditions of a savings promotion contest. See Alabama Code 36-27-72
- FINANCIAL INSTITUTION: A bank, savings institution, or credit union authorized to do business in Alabama under federal or state law. See Alabama Code 36-27-72
- following: means next after. See Alabama Code 30-3D-608
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
- PARTICIPATING FINANCIAL INSTITUTION: A financial institution, as defined above, that is sponsoring a savings promotion contest. See Alabama Code 36-27-72
- person: includes a corporation as well as a natural person. See Alabama Code 30-3D-608
- Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
- QUALIFYING ACCOUNT: A savings account or other savings product that is offered by a participating financial institution and that meets all of the following requirements:
a. See Alabama Code 36-27-72
- Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
- writing: includes typewriting and printing on paper. See Alabama Code 30-3D-608
- year: means a calendar year; but, whenever the word "year" is used in reference to any appropriations for the payment of money out of the treasury, it shall mean fiscal year. See Alabama Code 30-3D-608