Alabama § 5-5A-29 - Security Not Required When Deposits Insured.
Full text of Alabama Code of Alabama § 5-5A-29 — Security Not Required When Deposits Insured., with citation guidance and answers to common questions.
§ 5-5A-29. Security Not Required When Deposits Insured.
Notwithstanding any provision of law of this state or of any political subdivision of the state or any agency or governmental instrumentality of such subdivision requiring security for deposits in the form of collateral, surety bond or in any other form, security for such deposits shall not be required to the extent said deposits are insured by the Federal Deposit Insurance Corporation or any successor thereto.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 5-5A-29
What does Code of Alabama § 5-5A-29 cover?
Section 5-5A-29 ("Security Not Required When Deposits Insured.") 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-29?
A common citation format is "Code of Alabama § 5-5A-29" (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-29 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.