2013 Code of Alabama
Title 11 - COUNTIES AND MUNICIPAL CORPORATIONS.
Title 2 - PROVISIONS APPLICABLE TO MUNICIPAL CORPORATIONS ONLY.
Section 11-51-130 - Banks.
(a) Municipalities may levy a license in proportion to the capital, surplus and undivided profits of the bank, but not more than the following amounts, to wit:
(1) Where the capital, surplus, and undivided profits are $50,000.00 or less, $10.00;
(2) Where the capital, surplus, and undivided profits are more than $50,000.00 and not over $100,000.00, $20.00;
(3) Where the capital, surplus, and undivided profits are more than $100,000.00 and not over $150,000.00, $30.00;
(4) Where the capital, surplus, and undivided profits are more than $150,000.00 and not over $200,000.00, $40.00;
(5) Where the capital, surplus, and undivided profits are more than $200,000.00 and not over $250,000.00, $50.00;
(6) Where the capital, surplus, and undivided profits are more than $250,000.00 and not over $300,000.00, $60.00;
(7) Where the capital, surplus, and undivided profits are more than $300,000.00 and not over $350,000.00, $70.00;
(8) Where the capital, surplus, and undivided profits are more than $350,000.00 and not over $400,000.00, $80.00;
(9) Where the capital, surplus, and undivided profits are more than $400,000.00 and not over $450,000.00, $90.00;
(10) Where the capital, surplus, and undivided profits are more than $450,000.00 and not over $500,000.00, $100.00;
(11) Where the capital, surplus, and undivided profits are more than $500,000.00 and not over $600,000.00, $110.00;
(12) Where the capital, surplus, and undivided profits are in excess of $600,000.00, $125.00; and
(13) On each branch bank, not more than $10.00.
(b) The term "undivided profits" as used in subsection (a) of this section shall be construed to mean the undivided profits as shown by the books of the bank, and all payments shall be based on the report made by the banks to the Superintendent of Banks next preceding January 1.
(Acts 1911, No. 84, p. 50; Acts 1921, Ex. Sess., No. 18, p. 17; Code 1923, §6287; Code 1940, T. 37, §747.)Disclaimer: These codes may not be the most recent version. Alabama may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
