Alabama Credit Union Administration Created; Functions; Transfer of Authority Previously Vested in State Banking Department.

  1. Law
  2. Code of Alabama
  3. Banks and Financial Institutions.
  4. Credit Unions.
  5. Alabama Credit Union Administration.
  6. Alabama Credit Union Administration Created; Functions; Transfer of Authority Previously Vested in State Banking Department.

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Section 5-17-40

Alabama Credit Union Administration created; functions; transfer of authority previously vested in State Banking Department.

THIS SECTION WAS AMENDED BY ACT 2018-470 IN THE 2018 REGULAR SESSION, EFFECTIVE JUNE 1, 2018. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.

(a) There shall be an Alabama Credit Union Administration which shall administer the laws of this state which regulate or otherwise relate to credit unions in the state. The authority of the Alabama Credit Union Administration to perform such functions shall be exclusive and all authority regarding credit unions which was previously vested in the State Banking Department is hereby vested in the Alabama Credit Union Administration.

(b) If any of the provisions of this chapter are inconsistent with any other general or special law, this chapter shall control.

(Acts 1985, No. 85-457, p. 425, §17; Act 2018-470, §1.)


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