Code of Alabama - Title 5: Banks and Financial Institutions - Chapter 9A - Reorganization of Banks

• Section 5-9A-1 Cooperation of superintendent in reorganization of bank
  Whenever the board of directors or a majority of the stockholders of any bank shall request the superintendent to cooperate in a reorganization of such...
• Section 5-9A-2 Submission of reorganization plan to court for confirmation and approval
  After such plan for reorganization has been submitted to the board of directors of the bank so making such request for a reorganization, the directors...
• Section 5-9A-3 Publication of reorganization plan
  Upon the filing of such report and petition, the court shall order notice to be given to all parties in interest by publication in some...
• Section 5-9A-4 Hearing upon plan; entry of judgment
  At the time of the hearing of the petition, the court shall hear such legal evidence as may be submitted for and against such petition...
• Section 5-9A-5 Appeals
  If any stockholder, depositor or creditor shall not be satisfied with such judgment, he may file a notice of appeal to the Supreme Court of...
• Section 5-9A-6 Manner of reorganization not exclusive
  The plan for reorganization of a bank or banks as provided in this chapter shall not be exclusive and shall not be construed to prohibit...

Last modified: May 3, 2021