Section 5-16-34 Voluntary liquidation - Certification and transmittal of unclaimed funds to State Treasurer. - Alabama Statutes

Section 5-16-34

Voluntary liquidation - Certification and transmittal of unclaimed funds to State Treasurer.

The Savings and Loan Commissioner shall certify to the Treasurer of the state a complete list of funds remaining in his hands uncalled for which have been left in his hands in his official capacity in trust for creditors and investors in liquidated savings and loan associations from which they were received after they had been held by him for three years from the date of his having received the funds from the liquidating agent or receiver of the institution. Along with this certificate, he shall transmit to the Treasurer of the state the funds which he has so held in trust for three years. A copy of such certificate shall also be filed with the Comptroller, who shall make a record thereof.

(Acts 1939, No. 459, p. 616; Code 1940, T. 5, §240.)