Alabama § 5-8A-28 Creation of Liens Against Bank After Possession by Superintendent

Alabama Statutes

§ 5-8A-28 — Creation of Liens Against Bank After Possession by Superintendent

Alabama·Title 5 Banks and Financial Institutions·Ch. 8A Liquidation of Banks·Art. 2 Insolvent Banks

After the superintendent has taken possession of the property and business of a bank as provided in this chapter, no judgment lien, attachment lien, or any voluntary lien, except as provided in this chapter, shall attach to any assets of said bank nor shall the directors, officers, employees or agents of such bank have authority to act on behalf of said bank or to convey, transfer, assign, pledge, mortgage, or encumber any assets thereof.

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After the superintendent has taken possession of the property and business of a bank as provided in this chapter, no judgment lien, attachment lien, or any voluntary lien, except as provided in this chapter, shall attach to any assets of said bank nor shall the directors, officers, employees or agents of such bank have authority to act on behalf of said bank or to convey, transfer, assign, pledge, mortgage, or encumber any assets thereof.

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