Section 5-10A-16 Compliance with chapter, federal laws, etc., not to entail liability. - Alabama Statutes

Section 5-10A-16

Compliance with chapter, federal laws, etc., not to entail liability.

No bank nor any surety or guarantor of any bank shall suffer any penalty or liability for damages or increase of liability or be in default, nor shall any maker, endorser, guarantor or other party or person be released from liability or obligation or be in default by reason of a bank's compliance with any action of any state official authorized or ratified by this chapter or compliance with any act of Congress of the United States now or hereafter enacted or with any rule or regulation promulgated by duly constituted officials of the United States.

(Acts 1980, No. 80-658, §5-10-18.)