Alabama § 5-10A-13 Issuance and Reissuance of Script, Clearinghouse Certificates or Emergency Currency

Alabama Statutes

§ 5-10A-13 — Issuance and Reissuance of Script, Clearinghouse Certificates or Emergency Currency

Alabama·Title 5 Banks and Financial Institutions·Ch. 10A Banking Emergencies and Compliance with Federal Laws

The superintendent with the concurrence of not less than two other members of the Banking Board, or any three members of the Banking Board without action by said superintendent may from time to time authorize any bank singly or by groups, to issue and reissue from time to time script, certificates, clearinghouse certificates or emergency currency in such form, under such restrictions and conditions, entitled to such lien on specific security therefor or without such lien and entitled to such rights and privileges as said state officials may authorize, approve or direct. The issue and reissue thereof shall be lawful and subject to no civil or criminal penalties or interest charges or taxation or additions of any kind thereto, notwithstanding any contrary provisions of the laws of this state

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The superintendent with the concurrence of not less than two other members of the Banking Board, or any three members of the Banking Board without action by said superintendent may from time to time authorize any bank singly or by groups, to issue and reissue from time to time script, certificates, clearinghouse certificates or emergency currency in such form, under such restrictions and conditions, entitled to such lien on specific security therefor or without such lien and entitled to such rights and privileges as said state officials may authorize, approve or direct. The issue and reissue thereof shall be lawful and subject to no civil or criminal penalties or interest charges or taxation or additions of any kind thereto, notwithstanding any contrary provisions of the laws of this state.

Alabama § 5-10A-13 (Issuance and Reissuance of Script, Clearinghouse Certificates or Emergency Currency) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.