Alabama § 27-32-23 - Deposit of Moneys Collected.
Full text of Alabama Code of Alabama § 27-32-23 — Deposit of Moneys Collected., with citation guidance and answers to common questions.
§ 27-32-23. Deposit of Moneys Collected.
The moneys collected by the commissioner in a proceeding under this chapter shall be from time to time deposited in one or more state or national banks, savings banks, or trust companies; and, in the case of the insolvency or voluntary or involuntary liquidation of any such depositary which is an institution organized and supervised under the laws of this state, such deposits shall be entitled to priority of payment on an equality with any other priority given by the banking laws of this state. The commissioner may, in his discretion, deposit such moneys, or any part thereof, in a national bank or trust company as a trust fund.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 27-32-23
What does Code of Alabama § 27-32-23 cover?
Section 27-32-23 ("Deposit of Moneys Collected.") 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 § 27-32-23?
A common citation format is "Code of Alabama § 27-32-23" (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 § 27-32-23 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.