Section 5-10A-17 Officers not to incur liability or penalties for compliance with orders of superintendent, federal laws, etc. - Alabama Statutes

Section 5-10A-17

Officers not to incur liability or penalties for compliance with orders of superintendent, federal laws, etc.

No public officer or surety on his official bond shall suffer any penalty or liability for damages or increase of liability or be in default by reason of any failure on his part to perform any act or duty where such failure is due to compliance by any bank with any order or requirement of the superintendent or the Banking Board authorized or ratified by this chapter or 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, §5-10-19.)