Alabama Code 5-7A-20. Conversion of national bank, etc., into state bank – Procedure
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Terms Used In Alabama Code 5-7A-20
- state: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Alabama Code 1-1-1
- United States: includes the territories thereof and the District of Columbia. See Alabama Code 1-1-1
Any bank organized under the laws of the United States may, by the vote of the stockholders owning not less than a majority of the capital stock of such bank with the approval of the superintendent and upon the payment by it to the superintendent of a fee prescribed by the Banking Board under Section 5-5A-13, be converted into a state bank with any name approved by the superintendent.