Statutes, codes, and regulations
Code of Alabama
Title 5 - BANKS AND FINANCIAL INSTITUTIONSChapter 8A - LIQUIDATION OF BANKS
Article 2 - INSOLVENT BANKS
Section 5-8A-25 - Passage of title to assets, etc., of banking institution to receiver

Ala. Code § 5-8A-25

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Current through the 2024 Regular Session.
Section 5-8A-25 - Passage of title to assets, etc., of banking institution to receiver

Upon the appointment of a receiver to liquidate a bank, the possession of and title to all assets, business and property of such bank of every kind and nature shall pass to and vest in the receiver without the execution of any instruments of conveyance, assignment, transfer or endorsement.

Ala. Code § 5-8A-25 (1975)

Acts 1980, No. 80-658, §5-8-25.