The superintendent with the concurrence of not less than two other members of the Banking Board, or any three members of the Banking Board without action by said superintendent may from time to time authorize any bank singly or by groups, to issue and reissue from time to time script, certificates, clearinghouse certificates or emergency currency in such form, under such restrictions and conditions, entitled to such lien on specific security therefor or without such lien and entitled to such rights and privileges as said state officials may authorize, approve or direct. The issue and reissue thereof shall be lawful and subject to no civil or criminal penalties or interest charges or taxation or additions of any kind thereto, notwithstanding any contrary provisions of the laws of this state.
Structure Code of Alabama
Title 5 - Banks and Financial Institutions.
Chapter 10A - Banking Emergencies and Compliance With Federal Laws.
Section 5-10A-2 - Promulgation of Rules and Regulations; Requirements of Reports, etc., Generally.
Section 5-10A-3 - Declaration of Banking Holidays; Promulgation of Emergency Rules or Regulations.
Section 5-10A-4 - Extension, etc., of Banking Holiday or Emergency Rules or Regulations.
Section 5-10A-6 - Operation of Banks Under Federal Laws.
Section 5-10A-7 - Payment of Expenses of Bank Operating Without Receivership Liquidation.
Section 5-10A-9 - Segregation of Assets - Manners of Segregation.
Section 5-10A-10 - Segregation of Assets - Commingling of Items in Classes of Deposits.
Section 5-10A-11 - Segregation of Assets - Adjustments; Identification of Segregated Items.
Section 5-10A-16 - Compliance With Chapter, Federal Laws, etc., Not to Entail Liability.