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2020 Code of Alabama
Title 5 - Banks and Financial Institutions.
Chapter 8A - Liquidation of Banks.
Article 2 - Insolvent Banks.
Section 5-8A-45 - Payment of Dividends to Creditors.
Universal Citation: AL Code § 5-8A-45 (2020)
Section 5-8A-45
Payment of dividends to creditors.
At any time after the expiration of the date fixed for the presentation of claims, the receiver may, out of the funds remaining in his hands after the payment of expenses, declare and pay one or more dividends to creditors, and after the expiration of one year from the first publication of notice to the creditors to present claims, he may declare and pay a final dividend, such dividend to be paid to such persons and in such amounts and upon such notice as may be directed by the receivership court.
(Acts 1980, No. 80-658, §5-8-45.)
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