Alabama § 5-8A-22 Institution of Civil Action for Vacation of Charter, Liquidation, Etc., of Bank

Alabama Statutes

§ 5-8A-22 — Institution of Civil Action for Vacation of Charter, Liquidation, Etc., of Bank

Alabama § 5-8A-22

Title 5Banks and Financial Institutions

Ch. 8ALiquidation of Banks

Art. 2Insolvent Banks

This text of Alabama § 5-8A-22 (Institution of Civil Action for Vacation of Charter, Liquidation, Etc., of Bank) 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 § 5-8A-22 (2026).

Text

The circuit court of the county in which the principal place of business of the bank is located, sitting without a jury may upon application of the superintendent vacate the charter of a bank, liquidate a bank, or appoint a receiver if the directors of the bank knowingly violate or knowingly permit any of the officers, agents or employees of the bank to violate any of the provisions of this title. No civil action shall be instituted by any other person to vacate the charter of or liquidate or appoint a receiver for any bank except as authorized in Section 5-8A-24.

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The circuit court of the county in which the principal place of business of the bank is located, sitting without a jury may upon application of the superintendent vacate the charter of a bank, liquidate a bank, or appoint a receiver if the directors of the bank knowingly violate or knowingly permit any of the officers, agents or employees of the bank to violate any of the provisions of this title. No civil action shall be instituted by any other person to vacate the charter of or liquidate or appoint a receiver for any bank except as authorized in Section 5-8A-24.