There is a newer version of the Code of Alabama
2016 Code of Alabama
Title 8 - COMMERCIAL LAW AND CONSUMER PROTECTION.
Chapter 8 - INTEREST AND USURY.
Section 8-8-1 - Maximum rates of interest - Generally.
AL Code § 8-8-1 (2016) What's This?Section 8-8-1Maximum rates of interest - Generally.
Except as otherwise provided by law, the maximum rate of interest upon the loan or forbearance of money, goods, or things in action, except by written contract is $6 upon $100 for one year, and the rate of interest by written contract is not to exceed $8 upon $100 for one year and at that rate for a greater or less sum or for a longer or shorter time.(Code 1852, §1519; Code 1867, §1827; Code 1876, §2088; Code 1886, §1750; Code 1896, §2626; Code 1907, §4619; Code 1923, §8563; Acts 1935, No. 37, p. 69; Code 1940, T. 9, §60.)
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