Code of Alabama - Title 5: Banks and Financial Institutions - Chapter 6A - Directors, Officers, and Employees

• Article 1 General Provisions.
• Section 5-6A-1 Directors of banks to own stock in bank; citizenship and residence of directors
  Not less than 75 percent of the directors of a bank shall, during their whole term of service, be citizens of the United States. Every...
• Section 5-6A-2 Oath of directors
  Every such director shall, within 30 days after his election, take and subscribe, in duplicate, an oath that he will diligently and honestly perform his...
• Section 5-6A-3 Meeting of board of directors; bonds of officers and employees of banks
  (a) The board of directors of any bank shall hold regular meetings at such time as may be fixed by the bylaws, at least once...
• Article 2 Prohibited Acts.
• Section 5-6A-20 Declaration of illegal dividends, discounts of notes, etc
  Any director of a bank who knowingly concurs in any vote or act of the directors of such bank by which it is intended to...
• Section 5-6A-21 Concealment of loans, purchase or sale of security, etc
  Any officer or employee of a bank who intentionally conceals from the directors or a committee of such bank where the directors have delegated authority...
• Section 5-6A-22 Overdrawing own account; receipt of commissions, etc., to procure loans, discounts, etc
  Any officer, director, or employee of a bank who willfully and knowingly overdraws his account with such bank and thereby obtains money or funds of...
• Section 5-6A-23 Receipt or possession of bank property with intent to defraud, etc
  Any director, officer or employee of a bank who knowingly receives or possesses himself of any of its property otherwise than in payment for a...
• Section 5-6A-24 Making of false entries, etc., on books and accounts of bank
  Any director, officer or employee of a bank who with intent to defraud makes or concurs in making any false entry, or with intent to...
• Section 5-6A-25 Fraudulent representation as to capital, false reports, etc., as to condition of bank, etc
  Any director, officer, or employee of a bank who knowingly, by newspaper advertisement or otherwise, represents its capital to be in excess of the actual...
• Section 5-6A-26 Loans or extension of credit to bank officers and employees
  An officer or employee of any bank who shall in any way obtain as a borrower any of the funds of such bank without having...

Last modified: May 3, 2021