Passage of Title to Assets, etc., of Banking Institution to Receiver.

1. Law
2. Code of Alabama
3. Banks and Financial Institutions.
4. Liquidation of Banks.
5. Insolvent Banks.
6. Passage of Title to Assets, etc., of Banking Institution to Receiver.

Section 5-8A-25

Passage of title to assets, etc., of banking institution to receiver.

Upon the appointment of a receiver to liquidate a bank, the possession of and title to all assets, business and property of such bank of every kind and nature shall pass to and vest in the receiver without the execution of any instruments of conveyance, assignment, transfer or endorsement.

(Acts 1980, No. 80-658, §5-8-25.)

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