Code of Alabama - Title 10A: Alabama Business and Nonprofit Entities Code - Section 10A-20-7.05 - Membership - Application; when effective
Section 10A-20-7.05 - Membership - Application; when effective.
Any financial institution may request membership in the corporation by making application to the board of directors on the form in the manner as the board of directors may require, and membership shall become effective upon acceptance of the application by the board.
(Acts 1969, No. 322, p. 681, §5; §10-4-134; amended and renumbered by Act 2009-513, p. 967, §336.)