Code of Alabama - Title 5: Banks and Financial Institutions - Section 5-5A-14 - Capital - Minimum amount required for incorporation of bank

Section 5-5A-14 - Capital - Minimum amount required for incorporation of bank.

(a) No bank hereafter organized under the laws of Alabama shall have total initial capital accounts actually paid in of less than $800,000.00.

(b) The superintendent may require a higher amount of capital accounts and where the bank will have no significance except as a means of acquiring the assets or the voting shares of an existing bank, the superintendent may require a lesser amount of capital accounts.

(Acts 1980, No. 80-658, §5-5-14.)

Last modified: May 3, 2021