Each corporation organized under the provisions of this article is hereby exempted 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.
Structure Code of Alabama
Title 11 - Counties and Municipal Corporations.
Title 1 - Provisions Applicable to Counties Only.
Chapter 20 - Promotion of Industry and Trade.
Article 2 - Industrial Development Boards.
Section 11-20-30 - Definitions.
Section 11-20-31 - Legislative Intent; Construction of Article Generally.
Section 11-20-33 - Certificate of Incorporation - Contents; Execution and Acknowledgment.
Section 11-20-35 - Certificate of Incorporation - Amendment.
Section 11-20-36 - Board of Directors.
Section 11-20-37 - Powers Generally; Location and Operation of Projects.
Section 11-20-39 - Bonds - Security for Payment of Principal and Interest; Remedies Upon Default.
Section 11-20-42 - Liability of County Upon Bonds, Obligations, Agreements, etc., of Corporations.
Section 11-20-43 - Disposition of Net Earnings.
Section 11-20-47 - Exemptions of Corporations - Taxation.
Section 11-20-48 - Exemptions of Corporations - Usury and Interest Laws.
Section 11-20-49 - Exemptions of Corporations - Competitive Bid Laws.