It shall be lawful for any party of whom a bond, undertaking or other obligation is required to agree with his surety or sureties for the deposit of any or all money and assets for which he and his surety or sureties are or may be held responsible with a bank, or with other depository approved by the court or a judge thereof, if such deposit is otherwise proper, for the safekeeping thereof, and in such manner as to prevent the withdrawal of such money or assets or any part thereof, without the written consent of such surety or sureties, or an order of court or a judge thereof made on such notice to such surety or sureties as such court or judge may direct; provided, however, that such agreement shall not in any manner release from or change the liability of the principal or sureties as established by the terms of the bond.
Structure Code of Alabama
Title 5 - Banks and Financial Institutions.
Chapter 5A - Organization and Operation of Banks.
Section 5-5A-1 - Procedure for Incorporation - Application for Permit.
Section 5-5A-2 - Procedure for Incorporation - Notice of Intention to Incorporate.
Section 5-5A-9 - Procedure for Incorporation - Judicial Review.
Section 5-5A-10 - Permit to Transact Business - Required.
Section 5-5A-11 - Permit to Transact Business - Examination; Issuance and Recordation of Permit.
Section 5-5A-12 - Membership in Federal Deposit Insurance Corporation, Etc.
Section 5-5A-13 - Filing Fee; Other Fees.
Section 5-5A-14 - Capital - Minimum Amount Required for Incorporation of Bank.
Section 5-5A-15 - Capital - Increase or Decrease.
Section 5-5A-16 - Issuance of Capital Notes and Debentures.
Section 5-5A-18 - Powers of Banks Generally.
Section 5-5A-20 - Branch Banks; Commercial Affiliates.
Section 5-5A-21 - Surplus; Restriction on Dividends.
Section 5-5A-22 - Limits of Indebtedness.
Section 5-5A-23 - Investments and Loans With Respect to Housing.
Section 5-5A-28 - Pledge of Assets.
Section 5-5A-29 - Security Not Required When Deposits Insured.
Section 5-5A-31 - Liability for Transactions on Legal Holidays.
Section 5-5A-32 - Closing of Banks, etc., Permitted on One Business Day of Each Week.
Section 5-5A-33 - Bank to Pay Checks Drawn on It at Par.
Section 5-5A-36 - Notice Upon Maturity of Certificate of Deposit Issued for More Than 90 Days.
Section 5-5A-37 - Rights of Minors.
Section 5-5A-40 - Disposition of Deposit in Trust for Another Upon Death of Trustee.
Section 5-5A-42 - Adverse Claims to Deposits.
Section 5-5A-43 - Disclosure of Customer Financial Records.
Section 5-5A-44 - Acquisition of Majority of Voting Shares of a Bank; Procedure.
Section 5-5A-45 - Initiation of Run on Banks, Etc.
Section 5-5A-46 - False, etc., Statements, etc., Affecting Financial Standing of Bank.
Section 5-5A-47 - Liability of Directors or Officers; Enforcement Powers of Superintendent.