There is a newer version
of
this Section
2019 Code of Alabama
Title 8 - Commercial Law and Consumer Protection.
Chapter 8 - Interest and Usury.
Section 8-8-2 - Maximum rates of interest - Aggregation of principal and interest on loans at six percent and division into installments.
Universal Citation: AL Code § 8-8-2 (2019)
Section 8-8-2Maximum rates of interest - Aggregation of principal and interest on loans at six percent and division into installments.
It shall be lawful to lend money at six percent per annum or less, to aggregate principal and interest at the date of the loan for the entire period of the loan and to divide the sum of the principal and interest for the entire period of the loan into monthly or other installments.
(Acts 1927, No. 376, p. 440; Code 1940, T. 9, §61; Acts 1953, No. 450, p. 554.)
Disclaimer: These codes may not be the most recent version. Alabama may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
