Code of Alabama - Title 5: Banks and Financial Institutions - Section 5-6A-21 - Concealment of loans, purchase or sale of security, etc

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 to a committee to pass on loans and discounts, any discount or loan made for and in behalf of the bank between the regular meetings of its board of directors or committee or the purchase or the sale of any of its securities during the same period is guilty of a misdemeanor.

(Acts 1980, No. 80-658, §5-6-21.)

Last modified: May 3, 2021