Alabama Statutes
§ 2-31-8 — Action by Commissioner Upon Default
Alabama § 2-31-8
This text of Alabama § 2-31-8 (Action by Commissioner Upon Default) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Ala. Code § 2-31-8 (2026).
Text
When the commissioner has determined that a grain dealer has defaulted in payment for grain which he has purchased, the commissioner shall determine through appropriate procedures the producers and the amount of defaulted payment and as trustee of the bond shall immediately after such determination to those who should receive the benefits. Should the defaulted amount be less than the principal amount of the bond or bonds then the surety shall be obligated to pay only the amount of the default.
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Legislative History
(Acts 1981, No. 81-391, p. 611, §8.)
Nearby Sections
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Associations May FederateCite This Page — Counsel Stack
Bluebook (online)
Alabama § 2-31-8, Counsel Stack Legal Research, https://law.counselstack.com/statute/al/2-31-8.