Each such authority is and shall be exempt 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 § 41-10-153
Historical Preservation Authorities - Exempt from Usury or Other Interest Limiting Laws.
Known as the Historical Preservation Authorities Act
The act spans §§ 41-10-135 to 41-10-154 (20 sections).
(Acts 1980, No. 80-659, p. 1337, §2.)
Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.