Alabama Code 5-24-27. Set-off
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Terms Used In Alabama Code 5-24-27
- Lien: A claim against real or personal property in satisfaction of a debt.
Without qualifying any other statutory right to set-off or lien and subject to any contractual provision between a party and a financial institution, if any party is indebted to a financial institution, the financial institution has a right to set-off against the entire amount of the account without regard to the net contribution of the parties to the account.