Municipalities may levy a license on savings and loan associations in proportion to the amount paid in on nonwithdrawable shares, reserves, and undivided profits of the association upon the same schedule as is provided for banks and none other.
Ala. Code § 11-51-131
Savings and Loan Associations.
(Acts 1931, No. 159, p. 218; Code 1940, T. 37, §748.)
Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.