Alabama § 40-16-2 - Production Credit Associations Taxable Under Chapter.
Full text of Alabama Code of Alabama § 40-16-2 — Production Credit Associations Taxable Under Chapter., with citation guidance and answers to common questions.
§ 40-16-2. Production Credit Associations Taxable Under Chapter.
Production credit associations, incorporated pursuant to the provisions of the act of Congress known as the Farm Credit Act of 1933, are not foreign corporations, and any such association which may become taxable by the state shall be subject to the same taxation imposed upon national banks under the provisions of this chapter, and such associations shall be exempt from all other forms of income, privilege and license taxes imposed by the state.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 40-16-2
What does Code of Alabama § 40-16-2 cover?
Section 40-16-2 ("Production Credit Associations Taxable Under Chapter.") 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 § 40-16-2?
A common citation format is "Code of Alabama § 40-16-2" (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 § 40-16-2 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.