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Alabama · Through Act 2026-611

Ala. Code § 13A-9-50: Receiving Deposits in Failing Financial Institution.

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Where this section sits in the code
  1. Title 13A Criminal Code.
  2. Chapter 9 Forgery and Fraudulent Practices.
  3. Article 2 Business Frauds.

(a) A person commits the crime of receiving deposits in a failing financial institution, if, as an officer, manager or other person participating in the direction of a financial institution, he knowingly receives or permits the receipt of funds, a general deposit or other investment, knowing or having reason to believe that:

(1) Due to financial difficulties the institution is about to suspend operations or go into receivership or reorganization, and

(2) The person making the deposit or other payment is unaware of the precarious situation of the institution.

(b) Receiving deposits in a failing financial institution is a Class A misdemeanor.

Collected 2026-09-03T14:01:52Z. Source file · JSON

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