Alabama § 41-14-34 - How Interest on Time Deposits, Open Account, Calculated and Paid; Emergency Withdrawal of Funds on Time Deposit, Open Account.
Full text of Alabama Code of Alabama § 41-14-34 — How Interest on Time Deposits, Open Account, Calculated and Paid; Emergency Withdrawal of Funds on Time Deposit, Open Account., with citation guidance and answers to common questions.
§ 41-14-34. How Interest on Time Deposits, Open Account, Calculated and Paid; Emergency Withdrawal of Funds on Time Deposit, Open Account.
(a) Interest shall be calculated on the basis of the contracts existing with respect to time deposits, open account, and shall be payable monthly to the State Treasurer and by that officer paid into the State Treasury to the credit of the General Fund of the state.
(b) In the event of an emergency, the Treasurer is authorized to comply with applicable banking regulations in order to receive all or any portion of the funds placed on time deposits, open account, on shorter notice than the agreement provides and to forfeit such amount of accrued and unpaid interest as may be required by such regulations.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 41-14-34
What does Code of Alabama § 41-14-34 cover?
Section 41-14-34 ("How Interest on Time Deposits, Open Account, Calculated and Paid; Emergency Withdrawal of Funds on Time Deposit, Open Account.") 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 § 41-14-34?
A common citation format is "Code of Alabama § 41-14-34" (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 § 41-14-34 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.