Alabama Code (Last Updated: November 28, 2014) |
Title11 COUNTIES AND MUNICIPAL CORPORATIONS. |
Title2 PROVISIONS APPLICABLE TO MUNICIPAL CORPORATIONS ONLY. |
Chapter60. PUBLIC PARK AND RECREATION BOARDS. |
§11-60-18. Exemptions of corporations - Usury and interest laws.
Latest version.
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Each corporation organized pursuant to the provisions of this chapter is hereby exempted from the laws of the State of Alabama governing usury or prescribing or limiting interest rates, including, without limitation, the provisions of Chapter 8 of Title 8.