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Current as of December 30, 2022 | Updated by FindLaw Staff
Absent written objection from the Superintendent of the State Banking Department, a bank, trust company or trust department (hereinafter to be known as the “transferor”) may transfer one or more fiduciary accounts administered by such bank, trust company or trust department to another bank, trust company or trust department (hereinafter to be known as the “transferee”); provided, however, that the transferor and transferee banks are related institutions, as that term is hereinafter defined in Section 5-11A-36, and that the transferee bank has trust powers.
Cite this article: FindLaw.com - Alabama Code Title 5. Banks and Financial Institutions § 5-11A-30 - last updated December 30, 2022 | https://codes.findlaw.com/al/title-5-banks-and-financial-institutions/al-code-sect-5-11a-30.html
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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