Section 5-11A-8 Sale of bonds or securities for satisfaction of judgment against trust company. - Alabama Statutes

Section 5-11A-8

Sale of bonds or securities for satisfaction of judgment against trust company.

When any person, firm or corporation has established by final court proceedings a claim against said company to secure which said bonds or other securities were deposited and said claim is not paid within 30 days by said company, the State Treasurer shall proceed forthwith to sell a sufficient number of said bonds to pay the judgment against said company and pay said judgment by paying the amount to the proper official of the court wherein said judgment exists.

(Acts 1980, No. 80-658, §5-11-8.)