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2019 Code of Alabama
Title 5 - Banks and Financial Institutions.
Chapter 7A - Bank Merger, Consolidation, or Conversion.
Article 2 - Conversion of National Banks Into State Banks.
Section 5-7A-20 - Conversion of national bank, etc., into state bank - Procedure.
Universal Citation: AL Code § 5-7A-20 (2019)
Section 5-7A-20Conversion of national bank, etc., into state bank - Procedure.
Any bank organized under the laws of the United States may, by the vote of the stockholders owning not less than a majority of the capital stock of such bank with the approval of the superintendent and upon the payment by it to the superintendent of a fee prescribed by the Banking Board under Section 5-5A-13, be converted into a state bank with any name approved by the superintendent.
(Acts 1980, No. 80-658, §5-7-20.)
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