§ 5-7A-24 — Issuance of Stock by State Bank

Alabama § 5-7A-24

• Jurisdiction: Alabama
• Title 5: Banks and Financial Institutions
• Ch. 7A: Bank Merger, Consolidation, or Conversion
• Art. 2: Conversion of National Banks into State Banks

Text

Such state bank shall have authority to issue to the stockholders of the national bank from which it was converted shares of stock of the same amount and of the same par value as is held by each of said stockholders in such national bank.

Legislative History

(Acts 1980, No. 80-658, §5-7-24.)