Alabama Code Title 8. Commercial Law and Consumer Protection § 8-8-13
Current as of December 30, 2022 | Updated by FindLaw Staff
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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.
Cite this article: FindLaw.com - Alabama Code Title 8. Commercial Law and Consumer Protection § 8-8-13 - last updated December 30, 2022 | https://codes.findlaw.com/al/title-8-commercial-law-and-consumer-protection/al-code-sect-8-8-13/
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