Code of Alabama
Chapter 60 - Public Park and Recreation Boards.
Section 11-60-18 - Exemptions of Corporations - Usury and Interest Laws.

Each corporation organized pursuant to the provisions of this chapter 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

Code of Alabama

Title 11 - Counties and Municipal Corporations.

Title 2 - Provisions Applicable to Municipal Corporations Only.

Chapter 60 - Public Park and Recreation Boards.

Section 11-60-1 - Definitions.

Section 11-60-2 - Legislative Intent; Construction of Chapter Generally.

Section 11-60-3 - Application for Authority to Form Corporation; Adoption of Resolution by Governing Body Authorizing Incorporation; Execution, Acknowledgment, and Filing of Certificate of Incorporation Generally; Effect of Granting of Authority for...

Section 11-60-4 - Certificate of Incorporation - Contents; Execution and Acknowledgment.

Section 11-60-5 - Certificate of Incorporation - Filing With Probate Judge; Examination, Approval, and Recordation by Probate Judge.

Section 11-60-6 - Certificate of Incorporation - Amendment.

Section 11-60-7 - Board of Directors.

Section 11-60-8 - Powers of Corporations Generally; Location of Projects of Corporations.

Section 11-60-9 - Bonds - Form, Terms, Denominations, etc.; Execution, Sale, Delivery, Redemption, etc.; Refunding of Bonds.

Section 11-60-10 - Bonds - Notice of Resolution Authorizing Issuance of Bonds; Limitation Period for Actions, etc., as to Validity of Proceedings for Issuance of Bonds, Etc.

Section 11-60-11 - Bonds - Security for Payment of Principal or Interest; Remedies Upon Default.

Section 11-60-12 - Borrowing of Money for Temporary Use and Issuance of Temporary Revenue Bonds as Evidence Thereof.

Section 11-60-13 - Liability of Municipalities Upon Bonds, Agreements, Obligations, etc., of Corporations.

Section 11-60-14 - Disposition of Net Earnings of Corporations.

Section 11-60-15 - Authority and Procedure for Dissolution of Corporations; Vesting of Title to Funds and Properties Thereof in Municipalities Upon Dissolution.

Section 11-60-16 - Documents of Corporations May Be Filed for Record Without Payment of Taxes or Certain Fees.

Section 11-60-17 - Exemptions of Corporations - Taxation.

Section 11-60-18 - Exemptions of Corporations - Usury and Interest Laws.

Section 11-60-19 - Exemptions of Corporations - Competitive Bid Laws.

Section 11-60-20 - Powers Conferred on Corporation Cumulative; Further Proceedings, etc., as to Incorporation and Issuance of Bonds Not Required; Police Powers of State and Governmental Subdivisions Not Impaired.