Alabama § 5-2A-11 Superintendent - Losses; Bank to Correct Impairment of Capital

Alabama Statutes

§ 5-2A-11 — Superintendent - Losses; Bank to Correct Impairment of Capital

Alabama § 5-2A-11

Title 5Banks and Financial Institutions

Ch. 2AState Banking Department

Art. 1General Provisions

This text of Alabama § 5-2A-11 (Superintendent - Losses; Bank to Correct Impairment of Capital) 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 § 5-2A-11 (2026).

Text

Whenever losses are sustained by a bank, such losses shall be charged on the books of the bank as losses so that the books of the bank will show the true condition of the bank. When, by reason of losses or otherwise, the capital of a bank is impaired, and when the bank has been notified by the superintendent, under Section 5-2A-10, the bank must make good its impairment of capital in a manner approved by the superintendent.

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Whenever losses are sustained by a bank, such losses shall be charged on the books of the bank as losses so that the books of the bank will show the true condition of the bank. When, by reason of losses or otherwise, the capital of a bank is impaired, and when the bank has been notified by the superintendent, under Section 5-2A-10, the bank must make good its impairment of capital in a manner approved by the superintendent.