2015 Code of Alabama
Title 5 - BANKS AND FINANCIAL INSTITUTIONS.
Chapter 16 - SAVINGS AND LOAN ASSOCIATIONS.
Section 5-16-22 - Issuance of duplicate membership certificates.
Upon the filing with an association by a member of record or his legal representative of an affidavit to the effect that the membership certificate evidencing his membership in the association has been lost, stolen or destroyed and that such membership certificate has not been pledged or assigned, in whole or in part, such association shall issue a membership certificate, marked on the face thereof as a duplicate, in the name of such holder of record evidencing his membership in the association; provided, however, that the board of directors may in its discretion require such member or his legal representative to furnish a bond to the association in an amount sufficient to indemnify it against any loss which might result from the issuance of such duplicate membership certificate.
(Acts 1939, No. 459, p. 616; Code 1940, T. 5, §228.)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.
