Set-Off.

  1. Law
  2. Code of Alabama
  3. Banks and Financial Institutions.
  4. Uniform Multiple-Person Accounts Act.
  5. Protection of Financial Institutions.
  6. Set-Off.

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Section 5-24-27

Set-off.

Without qualifying any other statutory right to set-off or lien and subject to any contractual provision between a party and a financial institution, if any party is indebted to a financial institution, the financial institution has a right to set-off against the entire amount of the account without regard to the net contribution of the parties to the account.

(Acts 1997, No. 97-644, p. 1177, §1.)


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