Alabama § 5-10A-12 Discharge of Deposits of Script, Clearinghouse Certificates or Emergency Currency

Alabama Statutes

§ 5-10A-12 — Discharge of Deposits of Script, Clearinghouse Certificates or Emergency Currency

Alabama § 5-10A-12

Title 5Banks and Financial Institutions

Ch. 10ABanking Emergencies and Compliance with Federal Laws

This text of Alabama § 5-10A-12 (Discharge of Deposits of Script, Clearinghouse Certificates or Emergency Currency) 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 § 5-10A-12 (2026).

Text

Any deposit of script, clearinghouse certificates or emergency currency in any form or of any order on any such deposit shall be dischargeable in whole or in part either in kind or in legal tender of the United States of a value no greater than the current exchange value of the script, clearinghouse certificates or emergency currency originally deposited at the time of the payment at the option of the bank accepting such deposit. Any other deposit shall be dischargeable when and as entitled to payment thereof or on account thereof only in legal tender of the United States as fixed by the laws of the United States in force and effect at the time of payment thereof or of payment on account thereof.

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Any deposit of script, clearinghouse certificates or emergency currency in any form or of any order on any such deposit shall be dischargeable in whole or in part either in kind or in legal tender of the United States of a value no greater than the current exchange value of the script, clearinghouse certificates or emergency currency originally deposited at the time of the payment at the option of the bank accepting such deposit. Any other deposit shall be dischargeable when and as entitled to payment thereof or on account thereof only in legal tender of the United States as fixed by the laws of the United States in force and effect at the time of payment thereof or of payment on account thereof.