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2019 Code of Alabama
Title 8 - Commercial Law and Consumer Protection.
Chapter 8 - Interest and Usury.
Section 8-8-1.2 - Maximum rates of interest - Loans secured by savings accounts.
Universal Citation: AL Code § 8-8-1.2 (2019)
Section 8-8-1.2Maximum rates of interest - Loans secured by savings accounts.
Any savings and loan association located within the State of Alabama may charge on loans secured by savings accounts a rate of interest of not more than two percent per annum in excess of the rate of return payable on any such savings account.
(Acts 1979, No. 79-104, p. 126.)
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