Code of Alabama

Ala. Code § 8-8-2 (2026)

Maximum Rates of Interest - Aggregation of Principal and Interest on Loans at Six Percent and Division into Installments.

✓ official Alabama Legislature (ALISON) text, current July 2026

Find cases: SyfertCases citing this section JustiaAla. Code CornellLII Search CasesGoogle Scholar

It shall be lawful to lend money at six percent per annum or less, to aggregate principal and interest at the date of the loan for the entire period of the loan and to divide the sum of the principal and interest for the entire period of the loan into monthly or other installments.

(Acts 1927, No. 376, p. 440; Code 1940, T. 9, §61; Acts 1953, No. 450, p. 554.)

Notes of Decisions

Cited in 6 cases, 1980–2000 · leading case: Carrier Express, Inc. v. Home Indem. Co., 860 F. Supp. 1465 (N.D. Ala. 1994).

Sort: Relevance Newest Treatment

Carrier Express, Inc. v. Home Indem. Co., 860 F. Supp. 1465 (N.D. Ala. 1994). · cites it 2× “Accordingly, prejudgment interest is to be computed at the statutory rate of six percent per annum on the sum of $2,437,500.”

Centennial Assocs., Ltd. v. Clark, 384 So. 2d 616 (Ala. 1980). “It is significant to note that the Legislature did not repeal § 8-8-1 or § 8-8-2 in the 1975 Code. In view of the fact that the Legislature did not repeal these sections, what field of operation do they now have? If they have any, then we have an equal protection question.”

Frontier Ins. v. Int'l, Inc., 124 F. Supp. 2d 1211 (N.D. Ala. 2000). “§§ 8-8-2, 8-8-8 (1975), and at the legal rate of interest thereafter.”

Hoc, Inc. v. McAllister, 211 B.R. 976 (N.D. Ala. 1997). · cites it 2× “Code of Alabama 1975, § 8-8-2 and § 8-8-8.”

In Re McAllister, 211 B.R. 976 (N.D. Ala. 1997). · cites it 2× “Code of Alabama 1975, § 8-8-2 and § 8-8-8.”

Cochran v. Pated, 712 So. 2d 1099 (Ala. Civ. App. 1998). “With regard to the surety-ship aspect, Pate relies on § 8-8-2, Ala.Code 1975, which states: “A surety who has paid his principal’s debt is entitled to a transfer of the original and collateral security which the creditor holds; he has all the rights to realize thereon and to…”

Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.