reglab/housing_qa huggingface dataset:
AL Code § 8-7A-26 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 7A - Alabama Monetary Transmission Act.|Section 8-7A-26 - Making, Amending, and Rescinding Rules and Prescribing Forms.

Section 8-7A-26Making, amending, and rescinding rules and prescribing forms. The commission from time to time, may make, amend, and rescind rules and prescribe forms as are necessary and desirable to carry out this chapter. No rules or forms may be made or prescribed unless the commission finds that the action is necessary or appropriate in the public interest and consistent with the purposes fairly intended by the policy and provisions of this chapter. In prescribing rules and forms, the commission may cooperate with the administrators of other states, industry representatives, and other federal regulatory bodies with a view to effectuate the policy of this chapter to achieve maximum uniformity in the form and content of applications and reports wherever practicable. All rules shall be adopted pursuant to the Alabama Administrative Procedure Act and, along with all forms adopted, be published by the commission. (Act 2017-389, §2.)
AL Code § 8-7A-27 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 7A - Alabama Monetary Transmission Act.|Section 8-7A-27 - Interpretive Opinions by the Commission.

Section 8-7A-27Interpretive opinions by the commission. (a) The commission may issue interpretative opinions and no-action letters upon request from interested persons. Such opinions or no-action letters shall be limited in scope and may not be requested to provide legal advice to any person. No opinion or no-action letter shall be issued on a hypothetical basis. (b) Any person who makes application to the commission for an interpretative opinion or no-action letter shall be assessed a nonrefundable filing fee of five hundred dollars ($500) upon application for such opinion or no-action letter. (Act 2017-389, §2.)
AL Code § 8-8-1 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 8 - Interest and Usury.|Section 8-8-1 - Maximum Rates of Interest - Generally.

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.)
AL Code § 8-8-1.1 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 8 - Interest and Usury.|Section 8-8-1.1 - Maximum Rates of Interest - Permitted Under State or Federal Law.

Section 8-8-1.1Maximum rates of interest - Permitted under state or federal law. (a) Individuals, partnerships, banks, corporations, and other legal entities may, on any loans or extensions of credit made by them, charge or impose the same rate of interest or finance charge to the same extent and under the same circumstances and conditions as any federal or state chartered or licensed lending institution having its principal place of business in Alabama; provided, however, that any individual or partnership charging or imposing interest or finance charges in excess of that permitted such lending institutions under other applicable law shall be subject to the same penalties prescribed in such other applicable law or laws for such excessive interest or finance charges. (b) The provisions of this section are cumulative and nothing herein contained shall diminish rights or powers otherwise existing. The provisions of this section, as amended, shall have retroactive effect to May 14, 1979, when it became law; provided, however, that there shall be no change of interest rates on secured loans in existence as of April 25, 1980. Any actions taken or contracts made in accordance with the provisions of this section since May 14, 1979 are hereby ratified, validated, and confirmed. (Acts 1979, No. 79-103, p. 125; Acts 1980, No. 80-259, p. 335.)
AL Code § 8-8-1.2 (2021)
2021 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.

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.)
AL Code § 8-8-2 (2021)
2021 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.

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.)
AL Code § 8-8-4 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 8 - Interest and Usury.|Section 8-8-4 - Maximum Rates of Interest - Loans, etc., of $100,000 or More to State Board of Education and Trustees of State Educational Institutions.

Section 8-8-4Maximum rates of interest - Loans, etc., of $100,000 or more to State Board of Education and trustees of state educational institutions. (a) The State Board of Education and the trustees of all state institutions where education is a part of the program of the institution as referred to in Section 16-3-28, when borrowing money in amounts of not less than $100,000, may agree to pay such rate or rates of interest not to exceed a rate of 15 percent per annum for the loan or forbearance of money as such board of education or trustees may determine, notwithstanding any law of this state otherwise prescribing or limiting such rate or rates of interest. (b) As to any such agreement, neither such board of education or trustees, nor any surety, guarantor, endorser, or any other person, firm, partnership, association, or corporation which may become liable, in whole or in part, for the payment of the debt and interest agreed to be paid thereon in accordance with the terms hereof, or under any extension, amendment, or renewal thereof, may raise or claim the defense or benefit of the usury laws or any other law prescribing, regulating, or limiting such rate or rates of interest. (c) The provisions of this section are cumulative and shall be construed in pari materia with other laws prescribing or limiting rates of interest on the loan of money and not in repeal thereof. (Acts 1969, No. 1038, p. 1919; Acts 1970, Ex. Sess., No. 9, p. 2605.)
AL Code § 8-8-6 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 8 - Interest and Usury.|Section 8-8-6 - Maximum Rates of Interest - Exemption of Debts Incurred Pursuant to National Housing Act or Veterans' Benefits.

Section 8-8-6Maximum rates of interest - Exemption of debts incurred pursuant to National Housing Act or veterans' benefits. (a) All debts or extensions of credit incurred pursuant to any provision of the act of Congress known as the National Housing Act, as the same now exists or may hereafter be amended or supplemented, and all debts or extensions of credit incurred pursuant to any act of Congress relating to veterans' benefits, as the same now exists or may hereafter be amended or supplemented, are exempt from any law of this state relating to usury or prescribing or limiting interest rates. (b) The provisions of this section are remedial and supersede the provisions of any other act limiting interest rates in any way contrary to the provisions hereof. (Acts 1969, No. 3, p. 297.)
AL Code § 8-8-7 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 8 - Interest and Usury.|Section 8-8-7 - Maximum Rates of Interest - Exemption of Bonds, Notes, etc., of State, Instrumentalities, Localities, Etc.

Section 8-8-7Maximum rates of interest - Exemption of bonds, notes, etc., of state, instrumentalities, localities, etc. Any bonds, notes, warrants, other evidences of indebtedness, or securities issued by the State of Alabama or any department, agency, or instrumentality thereof, by any not-for-profit public or private corporation at any time organized or created pursuant to act of the Legislature or executive order of the Governor for the purpose of acting as an instrumentality of the State of Alabama or otherwise acting in the public interest and by any board of water and sewer commissioners created under the provisions of Article 10, Chapter 50, Title 11, and authorized to issue bonds under Section 11-50-345 by any municipality, by any county, by any public corporation heretofore or hereafter organized or created in the State of Alabama pursuant to authorization, determination, finding, or other action of any municipality or municipalities or county or counties or the governing body of any one or more thereof, or by any city or county board of education, are hereby exempted from all laws of the State of Alabama governing usury or prescribing or limiting interest rates, including, without limitation, the provisions of this chapter. (Acts 1975, 4th Ex. Sess., No. 53, p. 2665, §1; Acts 1982, No. 82-551, p. 911, §1.)
AL Code § 8-8-8 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 8 - Interest and Usury.|Section 8-8-8 - Interest Accrues on Breach of Contract.

Section 8-8-8Interest accrues on breach of contract. All contracts, express or implied, for the payment of money, or other thing, or for the performance of any act or duty bear interest from the day such money, or thing, estimating it at its money value, should have been paid, or such act, estimating the compensation therefor in money, performed. (Code 1852, §1520; Code 1867, §1828; Code 1876, §2089; Code 1886, §1751; Code 1896, §2627; Code 1907, §4620; Code 1923, §8564; Code 1940, T. 9, §62.)
AL Code § 8-8-9 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 8 - Interest and Usury.|Section 8-8-9 - Interest on Unauthorized Change Bills and Notes Not Exceeding $1.

Section 8-8-9Interest on unauthorized change bills and notes not exceeding $1. All change bills and notes for a sum not exceeding $1 issued or circulated in this state without authority of law bear interest at the rate of 100 percent per annum from the day of their date, time of issue or circulation, and may be sued on by the holder thereof, without regard to the person to whom the same are payable, and a recovery had against the person issuing or giving circulation to the same. (Code 1852, §1524; Code 1867, §1832; Code 1876, §2093; Code 1886, §1755; Code 1896, §2632; Code 1907, §4625; Code 1923, §8569; Code 1940, T. 9, §67.)
AL Code § 8-8-10 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 8 - Interest and Usury.|Section 8-8-10 - Interest on Money Judgments and Costs.

Section 8-8-10Interest on money judgments and costs. (a) Judgments for the payment of money, other than costs, if based upon a contract action, bear interest from the day of the cause of action, at the same rate of interest as stated in the contract; all other judgments shall bear interest at the rate of 7.5 percent per annum, the provisions of Section 8-8-1 to the contrary notwithstanding; provided, that fees allowed a trustee, executor, administrator, or attorney and taxed as a part of the cost of the proceeding shall bear interest at a like rate from the day of entry. (b) This section shall apply to all judgments entered on and after September 1, 2011. (Code 1852, §1521; Code 1867, §1829; Code 1876, §2090; Code 1886, §1752; Code 1896, §2628; Code 1907, §4621; Code 1923, §8565; Code 1940, T. 9, §63; Acts 1953, No. 64, p. 96; Acts 1981, 3rd Ex. Sess., No. 81-1115, p. 379; Acts 1982, No. 82-443, p. 696; Act 2011-521, p. 837, §1.)
AL Code § 8-8-11 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 8 - Interest and Usury.|Section 8-8-11 - Application of Partial Payments to Principal and Interest.

Section 8-8-11Application of partial payments to principal and interest. Except as provided in this section, when partial payments are made, the interest due is first to be paid and the balance applied to the payment of the principal. In the case of a judgment for child or spousal support, or a judgment for medical support of a child or spouse, any partial payment shall be applied first to the principal, and the remaining balance, if any, shall be applied to the interest. (Code 1852, §1522; Code 1867, §1830; Code 1876, §2091; Code 1886, §1753; Code 1896, §2629; Code 1907, §4622; Code 1923, §8566; Code 1940, T. 9, §64; Acts 1995, No. 95-391, p. 799, §2.)
AL Code § 8-8-12 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 8 - Interest and Usury.|Section 8-8-12 - Enforcement of Usurious Contracts.

Section 8-8-12Enforcement of usurious contracts. (a) Except as otherwise permitted by law, all contracts for the payment of interest upon the loan or forbearance of goods, money, things in action, or upon any contract whatever at a higher rate than is prescribed in this chapter are usurious and cannot be enforced except as to the principal. (b) The borrower of money at a usurious rate of interest shall not in any case be required to pay more than the principal sum borrowed, and if any interest has been paid, the same must be deducted from the principal and judgment entered for the balance only; provided, however, that the defense of usury may not be pleaded against a holder in due course of any negotiable instrument. (Code 1852, §1523; Code 1867, §1831; Code 1876, §2092; Code 1886, §1754; Code 1896, §2630; Code 1907, §4623; Code 1923, §8567; Acts 1931, No. 650, p. 783; Code 1940, T. 9, §65.)
AL Code § 8-8-13 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 8 - Interest and Usury.|Section 8-8-13 - Collection on Notes, etc., Discounted at Higher Rate of Interest Than Eight Percent.

Section 8-8-13Collection on notes, etc., discounted at higher rate of interest than eight percent. Except when otherwise permitted by law, any banker who discounts any note, bill of exchange, or draft at a higher rate of interest than eight percent per annum, not including the difference of exchange, cannot enforce the collection of the same, except as to principal; and if any interest has been paid, the same must be deducted from the principal and judgment entered for the balance only. (Code 1852, §1417; Code 1867, §1689; Code 1876, §4435; Code 1886, §4140; Code 1896, §2631; Code 1907, §4624; Code 1923, §8568; Code 1940, T. 9, §66.)
AL Code § 8-8-14 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 8 - Interest and Usury.|Section 8-8-14 - Interest Surcharge on Loans or Credit Sales; Refunds; Maximum Interest Rate Indexed to Prime Rate; Maximum Interest Rates for Open-End Credit Plans.

Section 8-8-14Interest surcharge on loans or credit sales; refunds; maximum interest rate indexed to prime rate; maximum interest rates for open-end credit plans. (a) In addition to other lawful charges under various state laws, and notwithstanding any restrictions thereunder, a legal licensed lending institution, a vendor making credit sales, any financial institution operating in Alabama or any individual may, if provided in the contract, charge and collect at the time of making a loan or credit sale, on each contract of loan or credit sale, an interest surcharge of not more than six percent of the part of the amount financed, which is not in excess of two thousand dollars ($2000). In addition to any rebate to which the debtor is otherwise entitled, when any contract upon which an interest surcharge has been charged is prepaid in full by any means within 90 days of date of the contract, the creditor shall refund or credit the debtor with a pro rata portion of the interest surcharge, except that in such event an amount of no less than twenty-five dollars ($25) may be retained by the creditor. (b) As an alternative to any other interest or finance charge allowed by state laws, and any law or regulation to the contrary notwithstanding, a lender or a vendor in credit sales, any financial institution operating in Alabama or any individual may, in connection with any credit sale, upon any type or class of loan, charge a maximum allowable rate on the amount of such loan or credit sale, not to exceed two percentage points above the prime rate at the time such loan or credit sales contract is executed; or if the debt is created under an open-end credit plan, the maximum finance charge in connection therewith shall be one and three-fourths percent per month on the first $750 or less, and one and one-half percent per month on the excess of any unpaid balance from time to time thereunder. For the purpose of this section, the prime rate shall be the average of the prime rates reported by the three largest banks in New York City as of the close of business three business days immediately preceding the date on which the loan or credit sale is made. (c) The provisions of this section are cumulative to, and not in derogation of, rights under other provisions of state or federal law and shall not in any way repeal, amend or modify the provisions of Public Law 96-221 enacted by the Congress of the United States and approved March 31, 1980. (Acts 1980, No. 80-738, §§1, 2, 4, 5, p. 1502; Acts 1981, No. 81-654, p. 1071, §1; Acts 1982, No. 82-271, p. 340, §1; Acts 1989, No. 89-421, p. 885; Acts 1997, No. 97-453, p. 803, §1.)
AL Code § 8-8-15 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 8 - Interest and Usury.|Section 8-8-15 - Bad Check Charge; Deemed Not Finance Charge.

Section 8-8-15Bad check charge; deemed not finance charge. (a) Any lender of money, extender of other credit, or merchant making a sale of merchandise, goods, or services, or the assignee of the lender, extender of credit, or merchant who receives a check, draft, negotiable order of withdrawal, or like instrument drawn on a bank or other depository institution given by any person in full or partial repayment of a loan, other extension of credit, or a sale of merchandise, goods, or services may, if the instrument is not paid or is dishonored by the institution, charge and collect, through regular billing procedure or otherwise, from the borrower, person to whom the credit was extended, or from whom the instrument was received, a bad check charge of not more than the greater of either twenty-five dollars ($25) or an amount equal to the actual charge by the depository institution for the return of unpaid or dishonored instruments. (b) Commencing January 1, 1999, the bad check charge in subsection (a) shall increase by one dollar ($1) per year through January 1, 2003, at which time the maximum bad check charge shall be thirty dollars ($30). Charges imposed in connection with the dishonor of a negotiable instrument shall not be deemed interest finance or other charge made as an incident to or as a condition to the grant of the loan or other extension of credit and shall not be included in determining the limit on charges which may be made in connection with the loan or extension of credit as provided in this section or in any other law of this state. (Acts 1985, No. 85-282, p. 182; Acts 1989, Ex. Sess., No. 89-980, p. 19; Acts 1991, No. 91-319, p. 578, §1; Acts 1997, No. 97-413, p. 679, §1.)
AL Code § 8-9-1 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 9 - Frauds.|Section 8-9-1 - Mortgage of Personalty.

Section 8-9-1Mortgage of personalty. Except as may be otherwise provided by Title 7 a mortgage of or security interest in personal property is not valid unless made in writing and subscribed by the mortgagor or debtor. (Code 1886, §1731; Code 1896, §2151; Code 1907, §4288; Code 1923, §8033; Code 1940, T. 20, §2.)
AL Code § 8-9-2 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 9 - Frauds.|Section 8-9-2 - Certain Agreements Void Unless in Writing.

Section 8-9-2Certain agreements void unless in writing. In the following cases, every agreement is void unless such agreement or some note or memorandum thereof expressing the consideration is in writing and subscribed by the party to be charged therewith or some other person by him thereunto lawfully authorized in writing: (1) Every agreement which, by its terms, is not to be performed within one year from the making thereof; (2) Every special promise by an executor or administrator to answer damages out of his own estate; (3) Every special promise to answer for the debt, default or miscarriage of another; (4) Every agreement, promise or undertaking made upon consideration of marriage, except mutual promises to marry; (5) Every contract for the sale of lands, tenements or hereditaments, or of any interest therein, except leases for a term not longer than one year, unless the purchase money, or a portion thereof is paid and the purchaser is put in possession of the land by the seller; (6) Every agreement, contract or promise to make a will or to devise or bequeath any real or personal property or right, title or interest therein; (7) Every agreement or commitment to lend money, delay or forebear repayment thereof or to modify the provisions of such an agreement or commitment except for consumer loans with a principal amount financed less than $25,000; (8) Notwithstanding Section 7-8-113, every agreement for the sale or purchase of securities other than through the facilities of a national stock exchange or of the over-the-counter securities market. (Code 1852, §1551; Code 1867, §1862; Code 1876, §2121; Code 1886, §1732; Code 1896, §2152; Code 1907, §4289; Code 1923, §8034; Code 1940, T. 20, §3; Acts 1951, No. 645, p. 1109; Acts 1989, No. 89-430, p. 910; Acts 1996, No. 96-742, p. 1241, §5.)
AL Code § 8-9-3 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 9 - Frauds.|Section 8-9-3 - Sufficiency of Note of Contract - Memorandum of Auctioneer.

Section 8-9-3Sufficiency of note of contract - Memorandum of auctioneer. When lands, tenements, or hereditaments are sold or leased at public auction and the auctioneer, his clerk or agent makes a memorandum of the property and the price thereof at which it is sold or leased, the terms of sale, the name of the purchaser, or lessee and the name of the person on whose account the sale or lease is made, such memorandum is a note of the contract within the meaning of Section 8-9-2. (Code 1852, §1552; Code 1867, §1863; Code 1876, §2122; Code 1886, §1733; Code 1896, §2153; Code 1907, §4290; Code 1923, §8035; Code 1940, T. 20, §4.)
AL Code § 8-9-4 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 9 - Frauds.|Section 8-9-4 - Sufficiency of Note of Contract - Return or Report of Officer Making Judicial Sale.

Section 8-9-4Sufficiency of note of contract - Return or report of officer making judicial sale. When lands, tenements, or hereditaments are sold at judicial sale, the return or report of the officer making the sale, showing the names of the parties to the action or proceeding, a description of the property, the price at which it was sold, and the name of the purchaser is a note of the contract within the meaning of Section 8-9-2. (Code 1896, §2154; Code 1907, §4291; Code 1923, §8036; Code 1940, T. 20, §5.)