§ 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