Such state bank shall have authority to issue to the stockholders of the national bank from which it was converted shares of stock of the same amount and of the same par value as is held by each of said stockholders in such national bank.
Ala. Code § 5-7A-24
Issuance of Stock by State Bank.
(Acts 1980, No. 80-658, §5-7-24.)
Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.