§ 5-11A-34 — Filing of Affidavit in Office of Judge of Probate; Filing of Notice of Abandonment

Alabama § 5-11A-34

• Jurisdiction: Alabama
• Title 5: Banks and Financial Institutions
• Ch. 11A: Regulation of Trust Business of Banks and Trust Companies
• Art. 2: Transfer of Fiduciary Accounts

Text

(a) Within a reasonable time after the date of a transfer of the fiduciary accounts in accordance with the procedures set forth in Sections 5-11A-32 and 5-11A-33, the transferor shall file an affidavit in the office of the judge of probate of the county in which the main office of the transferor is located; and from time to time, the transferor may file a copy of such affidavit in the office of the judge of probate in such other counties as the transferor may deem appropriate. Such affidavit shall set forth the names and addresses of the transferor and transferee, such identification of the fiduciary accounts transferred as the transferor may deem appropriate, and such other information as the transferor may deem desirable.
(b) In the event that notice of objection to the transfer is received by the transferor after the filing of record of the original affidavit with respect to the transfer; and in the event that pursuant to Section 5-11A-33, such transfer is abandoned, the transferor shall promptly file notice of such abandonment in the office of the appropriate judge of probate.

Legislative History

(Acts 1989, No. 89-539, p. 1127, §5.)