Alabama Statutes
§ 5-12A-12 — Mistakes in Administration of Fund
Alabama·Title 5 Banks and Financial Institutions·Ch. 12A Administration, Etc., of Common Trust Funds
No mistake made in good faith and in the exercise of due care in connection with the administration of a common trust fund shall be deemed to be a violation of this chapter or of any rules or regulations issued pursuant thereto if promptly after discovery of the mistake the trust institution takes whatever action may be practical in the circumstances to remedy the mistake.
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Alabama § 5-12A-12 (Mistakes in Administration of Fund) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
(Acts 1980, No. 80-658, §5-12-12.)