Alabama Statutes
§ 45-37A-51.261 — Repayment of Loan
Alabama § 45-37A-51.261
JurisdictionAlabama
Title 45Local Laws
Ch. 37AJefferson County Municipalities
Art. 5Birmingham
Part 2Employees
Subpart 7Participant Loans
This text of Alabama § 45-37A-51.261 (Repayment of Loan) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Ala. Code § 45-37A-51.261 (2026).
Text
Any loan made to a participant from the fund pursuant to Section 45-37A-51.260 shall be repayable in either monthly or quarterly installments over a period not to exceed 36 months from the date of issuance of such loan as the board in its discretion may require and at an interest rate of six to seven percent per annum as determined by the board, annually.
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Legislative History
(Act 2006-339, p. 851, Art. VII, §2.)
Nearby Sections
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Reserved§ 45-1-130
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Reserved§ 45-1-160
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Reserved§ 45-1-20
Licensing and Regulation; ViolationsCite This Page — Counsel Stack
Bluebook (online)
Alabama § 45-37A-51.261, Counsel Stack Legal Research, https://law.counselstack.com/statute/al/45-37A-51.261.