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U.S. State Codes
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Alabama
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Title 5 - Banks and Financi...
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Chapter 16 - Savings and Loan Associations.
Chapter 16 - Savings and Loan Associations.
Section 5-16-1 - Short title.
Section 5-16-2 - Definitions.
Section 5-16-3 - Associations, etc., accepting money for promotion of thrift and financing of homes subject to provisions of chapter, etc.
Section 5-16-4 - Procedure for incorporation - Petition for certificate of incorporation; subscription by incorporators, etc.
Section 5-16-5 - Procedure for incorporation - Approval of petition for certificate of incorporation; certificate of approval.
Section 5-16-6 - Procedure for incorporation - Issuance of certificate of incorporation.
Section 5-16-7 - Bylaws.
Section 5-16-8 - Organizational meeting.
Section 5-16-9 - Corporate name and offices - Generally.
Section 5-16-10 - Corporate name and offices - Change of location of home office; certificate of approval, etc.
Section 5-16-11 - Corporate name and offices - Establishment of branch offices.
Section 5-16-12 - Period for commencement of business; forfeiture of corporate existence for nonuse.
Section 5-16-13 - Rights, privileges, etc., of members; annual meeting; annual financial statement; voting by members; assessment of fines and penalties against members; transfer of real estate security by borrowing member.
Section 5-16-14 - Directors, officers and employees.
Section 5-16-15 - Books, records and accounts.
Section 5-16-16 - Capital and accounts.
Section 5-16-17 - Reserve accounts; interest due and accrued account.
Section 5-16-18 - Undivided profits account.
Section 5-16-19 - Dividends.
Section 5-16-20 - Repurchase of accounts.
Section 5-16-21 - Redemption of accounts.
Section 5-16-22 - Issuance of duplicate membership certificates.
Section 5-16-23 - Issuance, etc., of certificates of indebtedness; receipt of public deposits; payment of guaranteed rate of interest.
Section 5-16-24 - Powers generally.
Section 5-16-25 - Real estate loans.
Section 5-16-26 - Liens on accounts; pledges of accounts as security for loans.
Section 5-16-27 - Adoption, etc., of bonus plans and payment of cash bonuses on accounts; bonus reserve account.
Section 5-16-28 - Sales, transfers, or exchanges of assets.
Section 5-16-29 - Mergers.
Section 5-16-30 - Conversions.
Section 5-16-31 - Reorganizations.
Section 5-16-32 - Voluntary liquidation - Procedure generally.
Section 5-16-33 - Voluntary liquidation - Remittance of unclaimed dividends and share accounts by receiver, etc.; payment of creditors and investors by commissioner.
Section 5-16-34 - Voluntary liquidation - Certification and transmittal of unclaimed funds to State Treasurer.
Section 5-16-35 - Voluntary liquidation - Payment of creditors or investors by State Treasurer.
Section 5-16-36 - Reports, examinations and audits.
Section 5-16-37 - Conservatorship; involuntary liquidation.
Section 5-16-38.1 - Assessment fees.
Section 5-16-39 - Foreign corporations not to transact business in state; privileges, etc., of federal savings and loan associations.
Section 5-16-40 - Sales of accounts.
Section 5-16-41 - Acknowledgment, etc., of instruments by public officers employed by associations, etc.
Section 5-16-42 - Operating or management contracts.
Section 5-16-43 - Accounts of minors, married women, joint owners and fiduciaries; investments in accounts of associations.
Section 5-16-44 - Deposit in names of two persons, payable to either or survivor - How payable; when construed as belonging to survivor.
Section 5-16-45 - Deposit in names of two persons, payable to either or survivor - Title to deposit upon death of either.
Section 5-16-46 - Disposition of account of deceased person.
Section 5-16-47 - Disposition of deposit in trust for another upon death of trustee.
Section 5-16-48 - Engaging in mortgage brokerage business; purchase of loans; origination, purchase and sale of mortgages.
Section 5-16-49 - Forms.
Section 5-16-50 - Deposits with State Treasurer, etc., of securities issued by associations.
Section 5-16-51 - Associations empowered to enter into contracts, etc., for insurance of accounts, etc.
Section 5-16-52 - State associations may make contracts, loans or investments available to federal savings and loan associations.
Section 5-16-53 - Termination of status as insured corporation.