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Alabama Code (Last Updated: November 28, 2014) |
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Title22 HEALTH, MENTAL HEALTH, AND ENVIRONMENTAL CONTROL. |
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Title1 HEALTH AND ENVIRONMENTAL CONTROL GENERALLY. |
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Chapter21. HOSPITALS AND OTHER HEALTH CARE FACILITIES GENERALLY. |
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Article1. General Provisions. |
§22-21-6. Certain public hospital corporations exempted from usury and interest rate limitation laws.
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(a) Bonds, notes and other securities issued by any public hospital corporation are hereby exempted from all laws of the state governing usury or prescribing or limiting interest rates, including, without limitation, the provisions of Chapter 8 of Title 8 of this code.
(b) For the purposes of this section, the following terms shall have the meanings respectively ascribed to them by this subsection:
(1) STATE. The State of Alabama.
(2) PUBLIC HOSPITAL CORPORATION. Any public corporation organized pursuant to the provisions of any of the following statutes, as heretofore or hereafter amended:
a. Section 22-21-5,
b. Article 3 of this chapter, or
c. Division 1 of Article 4 of this chapter.