(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.
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Terms Used In Alabama Code 5-5A-14

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
(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.
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