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.
Structure 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 8-8-1.1 - Maximum Rates of Interest - Permitted Under State or Federal Law.
Section 8-8-1.2 - Maximum Rates of Interest - Loans Secured by Savings Accounts.
Section 8-8-8 - Interest Accrues on Breach of Contract.
Section 8-8-9 - Interest on Unauthorized Change Bills and Notes Not Exceeding $1.
Section 8-8-10 - Interest on Money Judgments and Costs.
Section 8-8-11 - Application of Partial Payments to Principal and Interest.
Section 8-8-12 - Enforcement of Usurious Contracts.
Section 8-8-15 - Bad Check Charge; Deemed Not Finance Charge.