Alabama § 11-51-130 - Banks.
Full text of Alabama Code of Alabama § 11-51-130 — Banks., with citation guidance and answers to common questions.
§ 11-51-130. Banks.
(a) Municipalities may levy a license in proportion to the capital, surplus and undivided profits of the bank, but not more than the following amounts, to wit:
(1) Where the capital, surplus, and undivided profits are $50,000.00 or less, $10.00;
(2) Where the capital, surplus, and undivided profits are more than $50,000.00 and not over $100,000.00, $20.00;
(3) Where the capital, surplus, and undivided profits are more than $100,000.00 and not over $150,000.00, $30.00;
(4) Where the capital, surplus, and undivided profits are more than $150,000.00 and not over $200,000.00, $40.00;
(5) Where the capital, surplus, and undivided profits are more than $200,000.00 and not over $250,000.00, $50.00;
(6) Where the capital, surplus, and undivided profits are more than $250,000.00 and not over $300,000.00, $60.00;
(7) Where the capital, surplus, and undivided profits are more than $300,000.00 and not over $350,000.00, $70.00;
(8) Where the capital, surplus, and undivided profits are more than $350,000.00 and not over $400,000.00, $80.00;
(9) Where the capital, surplus, and undivided profits are more than $400,000.00 and not over $450,000.00, $90.00;
(10) Where the capital, surplus, and undivided profits are more than $450,000.00 and not over $500,000.00, $100.00;
(11) Where the capital, surplus, and undivided profits are more than $500,000.00 and not over $600,000.00, $110.00;
(12) Where the capital, surplus, and undivided profits are in excess of $600,000.00, $125.00; and
(13) On each branch bank, not more than $10.00.
(b) The term “undivided profits” as used in subsection (a) of this section shall be construed to mean the undivided profits as shown by the books of the bank, and all payments shall be based on the report made by the banks to the Superintendent of Banks next preceding January 1.
Frequently Asked Questions About Alabama § 11-51-130
What does Code of Alabama § 11-51-130 cover?
Section 11-51-130 ("Banks.") is part of the Code of Alabama, the codified statutory law of Alabama. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alabama § 11-51-130?
A common citation format is "Code of Alabama § 11-51-130" (Alabama). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alabama law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alabama official source linked on this page or consult a licensed Alabama attorney.
How does Alabama § 11-51-130 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alabama can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alabama.