Alabama § 13A-9-50 - Receiving Deposits in Failing Financial Institution.
Full text of Alabama Code of Alabama § 13A-9-50 — Receiving Deposits in Failing Financial Institution., with citation guidance and answers to common questions.
§ 13A-9-50. Receiving Deposits in Failing Financial Institution.
(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.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 13A-9-50
What does Code of Alabama § 13A-9-50 cover?
Section 13A-9-50 ("Receiving Deposits in Failing Financial Institution.") 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 § 13A-9-50?
A common citation format is "Code of Alabama § 13A-9-50" (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 § 13A-9-50 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.