Alabama § 27-22-64 - Accrual of Interest.
Full text of Alabama Code of Alabama § 27-22-64 — Accrual of Interest., with citation guidance and answers to common questions.
§ 27-22-64. Accrual of Interest.
(a) If a lender fails to provide notice as required by Section 27-22-61 or Section 27-22-62, interest begins to accrue on the date the lender received the insurance proceeds.
(b) If a lender fails to release insurance proceeds as required by Section 27-22-62, interest begins to accrue on the date the lender receives sufficient evidence of the insured’s compliance with the requirements specified by the lender under Section 27-22-61 or Section 27-22-62 for release of the proceeds.
(c) Interest stops accruing on the date the lender complies with Section 27-22-61 or Section 27-22-62, as applicable.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 27-22-64
What does Code of Alabama § 27-22-64 cover?
Section 27-22-64 ("Accrual of Interest.") is part of the Code of Alabama, the codified statutory law of Alabama. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alabama § 27-22-64?
A common citation format is "Code of Alabama § 27-22-64" (Alabama). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alabama law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alabama official source linked on this page or consult a licensed Alabama attorney.
How does Alabama § 27-22-64 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alabama can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alabama.