Alabama § 5-5A-14 Capital - Minimum Amount Required for Incorporation of Bank

Alabama Statutes

§ 5-5A-14 — Capital - Minimum Amount Required for Incorporation of Bank

Alabama·Title 5 Banks and Financial Institutions·Ch. 5A Organization and Operation of Banks

(a)No bank hereafter organized under the laws of Alabama shall have total initial capital accounts actually paid in of less than $800,000.00.

(b)The superintendent may require a higher amount of capital accounts and where the bank will have no significance except as a means of acquiring the assets or the voting shares of an existing bank, the superintendent may require a lesser amount of capital accounts.

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(a) No bank hereafter organized under the laws of Alabama shall have total initial capital accounts actually paid in of less than $800,000.00.
(b) The superintendent may require a higher amount of capital accounts and where the bank will have no significance except as a means of acquiring the assets or the voting shares of an existing bank, the superintendent may require a lesser amount of capital accounts.

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