Alabama § 5-5A-10 - Permit to Transact Business - Required.
Full text of Alabama Code of Alabama § 5-5A-10 — Permit to Transact Business - Required., with citation guidance and answers to common questions.
§ 5-5A-10. Permit to Transact Business - Required.
No bank shall engage in the banking business until it shall have received from the superintendent a permit to transact a banking business. Any person who shall hereafter transact any business as an officer or agent of any bank hereafter incorporated, before such bank is authorized to transact business as a bank by the permit of the superintendent, shall be guilty of a misdemeanor and upon conviction, shall be fined not less than $1,000.00 nor more than $10,000.00. Each day on which said person transacts such business shall be a separate offense. The superintendent is empowered to seek an injunction from any court of competent jurisdiction enjoining such transaction of business.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 5-5A-10
What does Code of Alabama § 5-5A-10 cover?
Section 5-5A-10 ("Permit to Transact Business - Required.") 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 § 5-5A-10?
A common citation format is "Code of Alabama § 5-5A-10" (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 § 5-5A-10 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.