Savings and Loan Associations.

  1. Law
  2. Code of Alabama
  3. Banks and Financial Institutions.
  4. Savings and Loan Associations.

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Section
5-16-1

Short Title.

Section
5-16-2

Definitions.

Section
5-16-3

Associations, etc., Accepting Money for Promotion of Thrift and Financing of Homes Subject to Provisions of Chapter, Etc.

Section
5-16-4

Procedure for Incorporation - Petition for Certificate of Incorporation; Subscription by Incorporators, Etc.

Section
5-16-5

Procedure for Incorporation - Approval of Petition for Certificate of Incorporation; Certificate of Approval.

Section
5-16-6

Procedure for Incorporation - Issuance of Certificate of Incorporation.

Section
5-16-7

Bylaws.

Section
5-16-8

Organizational Meeting.

Section
5-16-9

Corporate Name and Offices - Generally.

Section
5-16-10

Corporate Name and Offices - Change of Location of Home Office; Certificate of Approval, Etc.

Section
5-16-11

Corporate Name and Offices - Establishment of Branch Offices.

Section
5-16-12

Period for Commencement of Business; Forfeiture of Corporate Existence for Nonuse.

Section
5-16-13

Rights, Privileges, etc., of Members; Annual Meeting; Annual Financial Statement; Voting by Members; Assessment of Fines and Penalties Against Members; Transfer of Real Estate Security by Borrowing Member.

Section
5-16-14

Directors, Officers and Employees.

Section
5-16-15

Books, Records and Accounts.

Section
5-16-16

Capital and Accounts.

Section
5-16-17

Reserve Accounts; Interest Due and Accrued Account.

Section
5-16-18

Undivided Profits Account.

Section
5-16-19

Dividends.

Section
5-16-20

Repurchase of Accounts.

Section
5-16-21

Redemption of Accounts.

Section
5-16-22

Issuance of Duplicate Membership Certificates.

Section
5-16-23

Issuance, etc., of Certificates of Indebtedness; Receipt of Public Deposits; Payment of Guaranteed Rate of Interest.

Section
5-16-24

Powers Generally.

Section
5-16-25

Real Estate Loans.

Section
5-16-26

Liens on Accounts; Pledges of Accounts as Security for Loans.

Section
5-16-27

Adoption, etc., of Bonus Plans and Payment of Cash Bonuses on Accounts; Bonus Reserve Account.

Section
5-16-28

Sales, Transfers, or Exchanges of Assets.

Section
5-16-29

Mergers.

Section
5-16-30

Conversions.

Section
5-16-31

Reorganizations.

Section
5-16-32

Voluntary Liquidation - Procedure Generally.

Section
5-16-33

Voluntary Liquidation - Remittance of Unclaimed Dividends and Share Accounts by Receiver, etc.; Payment of Creditors and Investors by Commissioner.

Section
5-16-34

Voluntary Liquidation - Certification and Transmittal of Unclaimed Funds to State Treasurer.

Section
5-16-35

Voluntary Liquidation - Payment of Creditors or Investors by State Treasurer.

Section
5-16-36

Reports, Examinations and Audits.

Section
5-16-37

Conservatorship; Involuntary Liquidation.

Section
5-16-38.1

Assessment Fees.

Section
5-16-39

Foreign Corporations Not to Transact Business in State; Privileges, etc., of Federal Savings and Loan Associations.

Section
5-16-40

Sales of Accounts.

Section
5-16-41

Acknowledgment, etc., of Instruments by Public Officers Employed by Associations, Etc.

Section
5-16-42

Operating or Management Contracts.

Section
5-16-43

Accounts of Minors, Married Women, Joint Owners and Fiduciaries; Investments in Accounts of Associations.

Section
5-16-44

Deposit in Names of Two Persons, Payable to Either or Survivor - How Payable; When Construed as Belonging to Survivor.

Section
5-16-45

Deposit in Names of Two Persons, Payable to Either or Survivor - Title to Deposit Upon Death of Either.

Section
5-16-46

Disposition of Account of Deceased Person.

Section
5-16-47

Disposition of Deposit in Trust for Another Upon Death of Trustee.

Section
5-16-48

Engaging in Mortgage Brokerage Business; Purchase of Loans; Origination, Purchase and Sale of Mortgages.

Section
5-16-49

Forms.

Section
5-16-50

Deposits With State Treasurer, etc., of Securities Issued by Associations.

Section
5-16-51

Associations Empowered to Enter Into Contracts, etc., for Insurance of Accounts, Etc.

Section
5-16-52

State Associations May Make Contracts, Loans or Investments Available to Federal Savings and Loan Associations.

Section
5-16-53

Termination of Status as Insured Corporation.