Alabama § 5-8A-45 Payment of Dividends to Creditors

Alabama Statutes

§ 5-8A-45 — Payment of Dividends to Creditors

Alabama § 5-8A-45

Title 5Banks and Financial Institutions

Ch. 8ALiquidation of Banks

Art. 2Insolvent Banks

This text of Alabama § 5-8A-45 (Payment of Dividends to Creditors) 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-45 (2026).

Text

At any time after the expiration of the date fixed for the presentation of claims, the receiver may, out of the funds remaining in his hands after the payment of expenses, declare and pay one or more dividends to creditors, and after the expiration of one year from the first publication of notice to the creditors to present claims, he may declare and pay a final dividend, such dividend to be paid to such persons and in such amounts and upon such notice as may be directed by the receivership court.

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At any time after the expiration of the date fixed for the presentation of claims, the receiver may, out of the funds remaining in his hands after the payment of expenses, declare and pay one or more dividends to creditors, and after the expiration of one year from the first publication of notice to the creditors to present claims, he may declare and pay a final dividend, such dividend to be paid to such persons and in such amounts and upon such notice as may be directed by the receivership court.