Section 5-5A-1 Procedure for incorporation - Application for permit. - Alabama Statutes

Section 5-5A-1

Procedure for incorporation - Application for permit.

(a) The proposed incorporators of a bank shall execute and acknowledge an application for a permit in writing in the form prescribed by the superintendent and shall file the same in the office of the State Banking Department, which application shall be signed by all of the incorporators requesting a certificate authorizing the proposed bank to transact business at the place, time and under the name stated in said application.

(b) At the time of filing said application, the applicant shall pay to the superintendent a filing fee.

(c) The superintendent shall designate the newspaper in which notice of intention to organize shall be published as required by Section 5-5A-2.

(Acts 1980, No. 80-658, §5-5-1.)