Alabama § 5-5A-29 Security Not Required When Deposits Insured

Alabama Statutes

§ 5-5A-29 — Security Not Required When Deposits Insured

Alabama § 5-5A-29

Title 5Banks and Financial Institutions

Ch. 5AOrganization and Operation of Banks

This text of Alabama § 5-5A-29 (Security Not Required When Deposits Insured) 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 § 5-5A-29 (2026).

Text

Notwithstanding any provision of law of this state or of any political subdivision of the state or any agency or governmental instrumentality of such subdivision requiring security for deposits in the form of collateral, surety bond or in any other form, security for such deposits shall not be required to the extent said deposits are insured by the Federal Deposit Insurance Corporation or any successor thereto.

Free access — add to your briefcase to read the full text and ask questions with AI

Notwithstanding any provision of law of this state or of any political subdivision of the state or any agency or governmental instrumentality of such subdivision requiring security for deposits in the form of collateral, surety bond or in any other form, security for such deposits shall not be required to the extent said deposits are insured by the Federal Deposit Insurance Corporation or any successor thereto.