§ 5-8A-37 — Payment of Compensation

Alabama § 5-8A-37

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

Text

When the compensation for the various parties aiding in the liquidation is fixed and approved, the same shall be paid out of the funds of such bank in the hands of the receiver and shall be a prior charge and lien on the assets of such bank.

Legislative History

(Acts 1980, No. 80-658, §5-8-37.)