2020 Code of Alabama
Title 40 - Revenue and Taxation.
Chapter 22 - Recordation Tax.
Section 40-22-3 - Tax on Mortgages Not Applicable to Any Bank Unless Applicable to All.
Section 40-22-3
Tax on mortgages not applicable to any bank unless applicable to all.
The term "bank" as used in this section shall be held to mean a corporation holding a charter issued by the Comptroller of the United States or the banking authorities of the State of Alabama and duly authorized to receive funds on deposit, to be repaid on demand, and to carry on the general business of banking and subject to all the laws of the state applicable to corporations carrying on the business of banking.
No tax as levied by the state in the recording of mortgages of whatever kind filed for record in the probate court in any county in the state shall be levied upon or collected from any bank in this state unless the said tax shall be applicable to and collected from all banks and banking institutions doing business in the State of Alabama.
(Acts 1947, No. 181, p. 66.)
