Alabama § 5-11A-8 Sale of Bonds or Securities for Satisfaction of Judgment Against Trust Company

Alabama Statutes

§ 5-11A-8 — Sale of Bonds or Securities for Satisfaction of Judgment Against Trust Company

Alabama § 5-11A-8

Title 5Banks and Financial Institutions

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

Art. 1General Provisions

This text of Alabama § 5-11A-8 (Sale of Bonds or Securities for Satisfaction of Judgment Against Trust Company) 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-8 (2026).

Text

When any person, firm or corporation has established by final court proceedings a claim against said company to secure which said bonds or other securities were deposited and said claim is not paid within 30 days by said company, the State Treasurer shall proceed forthwith to sell a sufficient number of said bonds to pay the judgment against said company and pay said judgment by paying the amount to the proper official of the court wherein said judgment exists.

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When any person, firm or corporation has established by final court proceedings a claim against said company to secure which said bonds or other securities were deposited and said claim is not paid within 30 days by said company, the State Treasurer shall proceed forthwith to sell a sufficient number of said bonds to pay the judgment against said company and pay said judgment by paying the amount to the proper official of the court wherein said judgment exists.