Alabama Statutes
§ 5-24-27 — Set-Off
Alabama·Title 5 Banks and Financial Institutions·Ch. 24 Uniform Multiple-Person Accounts Act·Art. 3 Protection of Financial Institutions
Without qualifying any other statutory right to set-off or lien and subject to any contractual provision between a party and a financial institution, if any party is indebted to a financial institution, the financial institution has a right to set-off against the entire amount of the account without regard to the net contribution of the parties to the account.
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Legislative History
(Acts 1997, No. 97-644, p. 1177, §1.)