Alabama Statutes
§ 5-12A-12 — Mistakes in Administration of Fund
Alabama § 5-12A-12
JurisdictionAlabama
Title 5Banks and Financial Institutions
Ch. 12AAdministration, Etc., of Common Trust Funds
This text of Alabama § 5-12A-12 (Mistakes in Administration of Fund) 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 § 5-12A-12 (2026).
Text
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.
Free access — add to your briefcase to read the full text and ask questions with AI
Legislative History
(Acts 1980, No. 80-658, §5-12-12.)
Nearby Sections
15
Cite This Page — Counsel Stack
Bluebook (online)
Alabama § 5-12A-12, Counsel Stack Legal Research, https://law.counselstack.com/statute/al/5-12A-12.