Unless ordered by a court of competent jurisdiction, a trust institution administering a common trust fund shall not be required to render a court accounting with regard to such fund, but it may file returns and make accountings in the same manner and for the same purposes as is provided by law for other fiduciaries.
Structure Code of Alabama
Title 5 - Banks and Financial Institutions.
Chapter 12A - Administration, etc., of Common Trust Funds.
Section 5-12A-1 - Definitions.
Section 5-12A-2 - Trust Institutions May Establish, etc., Common Trust Funds.
Section 5-12A-3 - Investments by Trust Institutions.
Section 5-12A-4 - Common Trust Fund Plan.
Section 5-12A-5 - Amendment of Plan.
Section 5-12A-6 - Control of Investments by Instrument Under Which Trust Institution Acts.
Section 5-12A-7 - Investment of Estate Moneys in Fund; Withdrawals.
Section 5-12A-8 - Record of Fiduciary Accounts Owning Interest in Fund; Extent of Interest.
Section 5-12A-9 - Annual Audit.
Section 5-12A-10 - Quarterly Valuation of Securities in Fund.
Section 5-12A-11 - Management and Control of Fund; Ownership of Assets.
Section 5-12A-12 - Mistakes in Administration of Fund.