5-17-44
Section 5-17-44 Removal from office of administrator or board member. (a) The administrator
or any member of the Credit Union Board may be removed from office by a vote of two thirds
of the members of the entire Credit Union Board for: (1) neglect of duty; (2) malfeasance;
(3) misfeasance; (4) extortion or corruption in office; (5) incompetency; (6) intemperance
in the use of intoxicating liquors or narcotics to such an extent, in view of the dignity
of the office and the importance of its duties, as to render such person unfit for the discharge
of his duties; or (7) any offense involving moral turpitude while in office, committed under
color thereof or connected therewith. (b) The administrator may also be removed from office,
without cause, upon written order of four appointed members of the Credit Union Board and
the Governor. (Acts 1985, No. 85-457, p. 425, §21.)...
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5-17-55
Section 5-17-55 Credit Union Board created; composition; appeals. (a) There shall be a Credit
Union Board of the Alabama Credit Union Administration which shall consist of the administrator,
who shall be an ex officio member and chair of the board, and seven other persons, appointed
by the Governor, by and with the consent of the Senate. Four of these persons shall be appointed
from a list of nominees submitted by the Credit Union Board of the Alabama Credit Union Administration,
in consultation with the League of Southeastern Credit Union or its successor organization,
which shall submit not less than three nominees for any vacancy. Should the Governor determine
that none of the first three nominees submitted by the Credit Union Board for a vacancy on
the Credit Union Board are acceptable, the Governor may reject the three nominees, and the
Credit Union Board shall submit an alternative list of three nominees to the Governor from
which the Governor shall make the appointment. The...
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5-2A-6
Section 5-2A-6 Superintendent - Removal; removal of member of Banking Board. (a) The superintendent
or any member of the Banking Board may be removed from office by a vote of two thirds of the
members of the entire banking board for: (1) Neglect of duty; (2) Malfeasance; (3) Misfeasance;
(4) Extortion or corruption in office; (5) Incompetency; (6) Intemperance in the use of intoxicating
liquors or narcotics to such an extent, in view of the dignity of the office and the importance
of its duties, as to render such person unfit for the discharge of his duties; or (7) Any
offense involving moral turpitude while in office, committed under color thereof or connected
therewith. (b) The superintendent may also be removed from office, without cause, upon written
order of four appointed members of the Banking Board and the Governor. (Acts 1980, No. 80-658,
§5-2-8.)...
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5-17-8
Section 5-17-8 Reports to Administrator of Alabama Credit Union Administration; powers of administrator.
(a) Credit unions shall report to the Administrator of the Alabama Credit Union Administration
at least annually on or before January 31 in such manner and form as required by the administrator
for that purpose. Additional reports may be required. Credit unions shall be examined at least
every 18 months by employees of the administration or by other persons designated by the administrator.
For failure to file reports when due, unless excused for cause by the administrator, the credit
union shall pay to the State Treasurer five dollars ($5) for each day of its delinquency.
(b) If the administrator determines that the credit union is violating this chapter, or is
insolvent, the administrator may suspend operations of the credit union by issuing an order
requiring that the credit union cease operations pending a hearing on the revocation of the
certificate of approval, or the...
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40-27-1
Section 40-27-1 Compact adopted; terms. The following Multistate Tax Compact is hereby approved,
adopted and enacted into law by the State of Alabama: Multistate Tax Compact Article I. Purposes.
The purposes of this compact are to: 1. Facilitate proper determination of state and local
tax liability of multistate taxpayers, including the equitable apportionment of tax bases
and settlement of apportionment disputes. 2. Promote uniformity or compatibility in significant
components of tax systems. 3. Facilitate taxpayer convenience and compliance in the filing
of tax returns and in other phases of tax administration. 4. Avoid duplicative taxation. Article
II. Definitions. As used in this compact: 1. "State" means a state of the United
States, the District of Columbia, the Commonwealth of Puerto Rico, or any territory or possession
of the United States. 2. "Subdivision" means any governmental unit or special district
of a state. 3. "Taxpayer" means any corporation, partnership, firm,...
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5-17-51
Section 5-17-51 Immunity from personal liability. Neither the administrator, any member of
the Credit Union Board nor any special agent or employee of the Alabama Credit Union Administration
shall be personally liable for any acts done in good faith while in the performance of his
or her duties as provided by law. (Acts 1985, No. 85-457, p. 425, §28; Act 2016-133, §1.)...

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5-17-13
Section 5-17-13 Powers and duties of supervisory committee. (a) The supervisory committee shall
make or cause to be made a comprehensive annual audit of the books and affairs of the credit
union and shall submit a report of that audit to the board of directors and summary of that
report to the members at the next annual meeting of the credit union. It shall make or cause
to be made such supplementary audits or examinations as it deems necessary or as are required
by the Administrator of the Alabama Credit Union Administration or by the board of directors
and submit reports of these supplementary audits to the board of directors. (b) The supervisory
committee shall cause the accounts of the members to be verified with the records of the credit
union from time to time and not less frequently than every two years. (c) The administrator
may define the scope of any audit and may set out what procedures must be followed for an
audit to qualify as the required annual audit. He or she may...
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5-17-10
Section 5-17-10 Election of board of directors, credit committee, and supervisory committee.
At the annual meeting (the organization meeting shall be the first annual meeting), members
of the credit union shall elect a board of directors of not less than five members, may elect
a credit committee of not less than three members, and shall elect a supervisory committee
of not less than three members, all to hold office for such terms respectively as the bylaws
provide and until successors qualify. A record of the names and addresses of the members of
the board and committees and the officers shall be filed with the Administrator of the Alabama
Credit Union Administration not later than 10 calendar days after their election. If, however,
the bylaws so provide, the board of directors shall carry out the functions and duties of
the credit committee or may appoint a credit committee, in which case the credit union shall
not elect a credit committee. (Acts 1927, No. 597, p. 696; Code 1940, T....
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5-26-3
Section 5-26-3 Definitions. For purposes of this chapter, the following definitions shall apply:
(1) DEPOSITORY INSTITUTION. The term "depository institution" has the same meaning
as in Section 3 of the Federal Deposit Insurance Act, and includes any credit union. (2) FEDERAL
BANKING AGENCIES. The term "federal banking agencies" means the Board of Governors
of the Federal Reserve System, the Comptroller of the Currency, the Director of the Office
of Thrift Supervision, the National Credit Union Administration, and the Federal Deposit Insurance
Corporation. (3) IMMEDIATE FAMILY MEMBER. The term "immediate family member" means
a spouse, child, sibling, parent, grandparent, or grandchild. This includes stepparents, stepchildren,
stepsiblings, and adoptive relationships. (4) INDIVIDUAL. The term "individual"
means a natural person. (5) LOAN PROCESSOR OR UNDERWRITER. (a) In General. The term "loan
processor or underwriter" means an individual who performs clerical or support duties
as an...
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5-17-50
Section 5-17-50 Employment and compensation of necessary personnel; assistant administrator.
(a) Subject to the provisions of Section 36-26-1, et seq., the administrator may appoint or
employ such assistants, employees, and attorneys as may be necessary to the efficient operation
of the department. The administrator shall fix their compensation in accordance with Section
36-26-1, et seq. and the pay plan of the State Personnel Department. All such assistants,
employees, and attorneys shall be subject to the provisions of the Merit System. The administrator,
with the approval of the Governor, may employ and discharge special counsel as the administrator
may deem necessary. (b) The administrator may appoint an assistant administrator, with the
approval of the Credit Union Board of the Alabama Credit Union Administration. The administrator
shall fix the compensation of the assistant administrator in accordance with Section 36-26-1,
et seq. The position of assistant administrator of the...
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