Alabama § 5-17-14 Capital; Lien on Shares and Deposits of Members; Entrance Fee

Alabama Statutes

§ 5-17-14 — Capital; Lien on Shares and Deposits of Members; Entrance Fee

Alabama § 5-17-14

Title 5Banks and Financial Institutions

Ch. 17Credit Unions

Art. 1General Provisions

This text of Alabama § 5-17-14 (Capital; Lien on Shares and Deposits of Members; Entrance Fee) 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 § 5-17-14 (2026).

Text

The capital of a credit union shall consist of the payments that have been made to it by the several members thereof on shares. The credit union shall have a lien on the shares and deposits of a member for any sum due to the credit union from said member or for any loan endorsed by him. A credit union may charge an entrance fee as may be fixed by the bylaws; provided, that such entrance fee shall not exceed $1.00.

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The capital of a credit union shall consist of the payments that have been made to it by the several members thereof on shares. The credit union shall have a lien on the shares and deposits of a member for any sum due to the credit union from said member or for any loan endorsed by him. A credit union may charge an entrance fee as may be fixed by the bylaws; provided, that such entrance fee shall not exceed $1.00.