§ 8-8-1 Maximum rates of interest – Generally
§ 8-8-1.1 Maximum rates of interest – Permitted under state or federal law
§ 8-8-1.2 Maximum rates of interest – Loans secured by savings accounts
§ 8-8-2 Maximum rates of interest – Aggregation of principal and interest on loans at six percent and division into installments
§ 8-8-4 Maximum rates of interest – Loans, etc., of $100,000 or more to State Board of Education and trustees of state educational institutions
§ 8-8-5 Maximum rates of interest – Loans, credit sales, etc., of $2,000 or more to individuals, corporations, trusts, partnerships, or associations
§ 8-8-6 Maximum rates of interest – Exemption of debts incurred pursuant to National Housing Act or veterans’ benefits
§ 8-8-7 Maximum rates of interest – Exemption of bonds, notes, etc., of state, instrumentalities, localities, etc
§ 8-8-8 Interest accrues on breach of contract
§ 8-8-9 Interest on unauthorized change bills and notes not exceeding $1
§ 8-8-10 Interest on money judgments and costs
§ 8-8-11 Application of partial payments to principal and interest
§ 8-8-12 Enforcement of usurious contracts
§ 8-8-13 Collection on notes, etc., discounted at higher rate of interest than eight percent
§ 8-8-14 Interest surcharge on loans or credit sales; refunds; maximum interest rate indexed to prime rate; maximum interest rates for open-end credit plans
§ 8-8-15 Bad check charge; deemed not finance charge

Terms Used In Alabama Code > Title 8 > Chapter 8

  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • APPARENT OWNER: A person whose name appears on the records of a holder as the person entitled to property held, issued, or owing by the holder. See Alabama Code 35-12-71
  • Decedent: A deceased person.
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • domicile: The state of incorporation of a corporation and the state of the principal place of business of a holder other than a corporation. See Alabama Code 35-12-71
  • Escheat: Reversion of real or personal property to the state when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time. Source: OCC
  • Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. Source: OCC
  • Forbearance: A means of handling a delinquent loan. A
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • holder: A person in possession of property belonging to another, or who is a trustee in case of a trust, obligated to hold for the account of, or deliver to, or pay to, the owner or apparent owner as applicable, property that is subject to this article. See Alabama Code 35-12-71
  • INSURANCE COMPANY: An association, corporation, or fraternal or mutual benefit organization, whether or not for profit, engaged in the business of providing life endowments, annuities, or insurance, including, but not limited to, accidental, burial, casualty, credit life, contract performance, dental, disability, fidelity, fire, health, hospitalization, illness, life, malpractice, marine, mortgage, surety, wage protection, and workers' compensation insurance. See Alabama Code 35-12-71
  • Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • officer: The term includes every person authorized to enforce the game and fish laws of this state, and whenever the possession, use, importation, transportation, storage, sale, offering, or exposing for sale of game birds, animals, or fish is prohibited or restricted, the prohibition or restriction shall extend to and include every part of the game, bird, animal, or fish, and a violation as to each animal, bird, or fish, or part thereof, shall be a separate offense. See Alabama Code 9-11-1
  • Open-end credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or revolving credit.) Source: OCC
  • owner: A person who has a legal or equitable interest in property subject to this article or the person's legal representative. See Alabama Code 35-12-71
  • person: An individual, business association, financial organization, estate, trust, government, governmental subdivision, agency, or instrumentality, or any other legal or commercial entity. See Alabama Code 35-12-71
  • property: Tangible property held in a safe deposit box or other safekeeping depository in this state, and fixed and certain interest in intangible property that is held, issued, or owed in the course of a holder's business, or by a government, governmental subdivision, agency, or instrumentality, and all income or increments therefrom. See Alabama Code 35-12-71
  • Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
  • record: Information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Alabama Code 35-12-71
  • rules: Rules necessary to carry out this article adopted pursuant to the Administrative Procedure Act. See Alabama Code 35-12-71
  • state: A state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Alabama Code 35-12-71
  • Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
  • treasurer: The Treasurer of the State of Alabama, or the designee of the Treasurer. See Alabama Code 35-12-71
  • Usury: Charging an illegally high interest rate on a loan. Source: OCC