Code of Alabama
Article 2 - Conversion of National Banks Into State Banks.
Section 5-7A-24 - Issuance of Stock by State Bank.

Such state bank shall have authority to issue to the stockholders of the national bank from which it was converted shares of stock of the same amount and of the same par value as is held by each of said stockholders in such national bank.

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Structure Code of Alabama

Code of Alabama

Title 5 - Banks and Financial Institutions.

Chapter 7A - Bank Merger, Consolidation, or Conversion.

Article 2 - Conversion of National Banks Into State Banks.

Section 5-7A-20 - Conversion of National Bank, etc., Into State Bank - Procedure.

Section 5-7A-21 - Conversion of National Bank, etc., Into State Bank - Execution of Articles of Incorporation and Organization Certificate; Powers of Directors, Etc.

Section 5-7A-22 - Conversion of National Bank, etc., Into State Bank - Powers and Duties of Bank, Stockholders, Officers, etc., Upon Issuance of Certificate.

Section 5-7A-23 - Declaration of Incorporation.

Section 5-7A-24 - Issuance of Stock by State Bank.