Section 5-10A-15 Authorization and Approval of Reorganization of Bank Without Receivership Liquidation.
The superintendent, with enough Banking Board support, or three Banking Board members alone, may approve a bank reorganization without receivership liquidation, but the reorganization cannot reduce paid-in capital stock below the legal minimum.
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- Jurisdiction
- United States — Alabama
- Instrument
- Act or statute
- Version
- Undated source snapshot
- Language
- en
- Official source
- View official record ↗
Citation provenance: source:global:stored-legal-sources · schema StatuteEnrichmentPublicV1.
banking capital requirements reorganization
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Section 5-10A-15 Authorization and Approval of Reorganization of Bank Without Receivership Liquidation.
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