Ala. Code § 5-17-40

Alabama Credit Union Administration Created; Functions; Transfer of Authority Previously Vested in State Banking Department.

Applied in 1 court decision — leading case John Dee Carruth v. Robert J. Bentley (2019)

Most recently applied in John Dee Carruth v. Robert J. Bentley (November 2019)

(Acts 1985, No. 85-457, p. 425, §17; Act 2018-470, §1.)

THIS SECTION WAS AMENDED BY ACT 2018-470 IN THE 2018 REGULAR SESSION, EFFECTIVE JUNE 1, 2018. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.

(a) There shall be an Alabama Credit Union Administration which shall administer the laws of this state which regulate or otherwise relate to credit unions in the state. The authority of the Alabama Credit Union Administration to perform such functions shall be exclusive and all authority regarding credit unions which was previously vested in the State Banking Department is hereby vested in the Alabama Credit Union Administration.

(b) If any of the provisions of this chapter are inconsistent with any other general or special law, this chapter shall control.

Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.