No tax levied upon the recordation of mortgages, deeds of trust, and instruments of like character shall be levied upon or collected from any corporation or association engaged exclusively in making farm or crop loans, with respect to any instrument executed to secure a loan made by it to one of its stockholders or members for general agricultural purposes, the provisions of any other law to the contrary notwithstanding. The exemption provided herein shall apply to all deeds, mortgages, and instruments of like character executed to those corporations and associations created and chartered under the provisions of that act of Congress known as the Federal Farm Loan Act, as amended by the Farm Credit Act of 1933.
Structure Code of Alabama
Title 40 - Revenue and Taxation.
Section 40-22-1 - Deeds, Bills of Sale, Etc.
Section 40-22-2 - Mortgages, Deeds of Trust, etc., Generally.
Section 40-22-3 - Tax on Mortgages Not Applicable to Any Bank Unless Applicable to All.
Section 40-22-4 - Exemption of Production Credit Corporations and Associations.
Section 40-22-5 - Exemption of Certain Farm Loans From Tax.
Section 40-22-5.1 - Exemption of Certain Conveyances by Religious Organizations From Tax.