Alabama § 27-34-22 - Members - Payment of Equitable Part of Deficiency.
Full text of Alabama Code of Alabama § 27-34-22 — Members - Payment of Equitable Part of Deficiency., with citation guidance and answers to common questions.
§ 27-34-22. Members - Payment of Equitable Part of Deficiency.
A society shall provide in its constitution or laws that if its reserves as to all or any class of certificates become impaired, its board of directors, or corresponding body, may require that there shall be paid by the member of the society the amount of the member’s equitable proportion of such deficiency as ascertained by its board and that, if the payment is not made, it shall stand as an indebtedness against the member’s certificate and draw interest not to exceed five percent per annum, compounded annually.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 27-34-22
What does Code of Alabama § 27-34-22 cover?
Section 27-34-22 ("Members - Payment of Equitable Part of Deficiency.") 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 § 27-34-22?
A common citation format is "Code of Alabama § 27-34-22" (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 § 27-34-22 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.