Section 5-17-26 Alabama Credit Union League - Issuance of advance dues certificates to member credit unions. - Alabama Statutes

Section 5-17-26

Alabama Credit Union League - Issuance of advance dues certificates to member credit unions.

The Alabama Credit Union League upon the receipt of one year's dues in advance from a state chartered member credit union shall issue advance dues certificates by its president, treasurer, managing director or other officer in a number from one to and including 15, depending upon the period of amortization of the credit, to the member credit union. The advance dues certificates shall show the face value thereof, which value shall be the total advance dues paid and shall contain a schedule showing the value of each certificate by years for a period of from one to 15 years depending on the period of amortization of the credit.

(Acts 1963, No. 422, p. 929, §2.)