Each corporation organized under the provisions of this article 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.
Ala. Code § 11-20-48
Exemptions of Corporations - Usury and Interest Laws.
(Acts 1977, No. 762, p. 1310, §14.)
Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.