Code of Alabama - Title 23: Highways, Roads, Bridges and Ferries - Section 23-7-10 - Essential governmental function of bank; taxation

Section 23-7-10 - Essential governmental function of bank; taxation.

The bank is performing an essential governmental function in the exercise of the powers conferred upon it and is not required to pay taxes or assessments upon property or upon its operations or the income from them, or taxes or assessments upon property or loan obligations acquired or used by the bank or upon the income from them.

(Act 2015-50, §10.)

Last modified: May 3, 2021