Alabama § 5-11A-30 Transfer Between Related Institutions

Alabama Statutes

§ 5-11A-30 — Transfer Between Related Institutions

Alabama § 5-11A-30

Title 5Banks and Financial Institutions

Ch. 11ARegulation of Trust Business of Banks and Trust Companies

Art. 2Transfer of Fiduciary Accounts

This text of Alabama § 5-11A-30 (Transfer Between Related Institutions) 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 § 5-11A-30 (2026).

Text

Absent written objection from the Superintendent of the State Banking Department, a bank, trust company or trust department (hereinafter to be known as the “transferor”) may transfer one or more fiduciary accounts administered by such bank, trust company or trust department to another bank, trust company or trust department (hereinafter to be known as the “transferee”); provided, however, that the transferor and transferee banks are related institutions, as that term is hereinafter defined in Section 5-11A-36, and that the transferee bank has trust powers.

Free access — add to your briefcase to read the full text and ask questions with AI

Absent written objection from the Superintendent of the State Banking Department, a bank, trust company or trust department (hereinafter to be known as the “transferor”) may transfer one or more fiduciary accounts administered by such bank, trust company or trust department to another bank, trust company or trust department (hereinafter to be known as the “transferee”); provided, however, that the transferor and transferee banks are related institutions, as that term is hereinafter defined in Section 5-11A-36, and that the transferee bank has trust powers.