reglab/housing_qa huggingface dataset:
AL Code § 5-17-19 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 17 - Credit Unions.|Article 1 - General Provisions.|Section 5-17-19 - Insurance and Reserves.

Section 5-17-19Insurance and reserves. (a) Every credit union shall set aside such regular reserves as are required to be set aside by the credit union in order to maintain insurance of member accounts under the provisions of Title II of the Federal Credit Union Act. Additionally, any credit union may be required by the Administrator of the Alabama Credit Union Administration to maintain any special reserves which the administrator finds are necessary under the particular circumstances to protect the interests of the members. (b) Any credit union hereafter organized under this chapter shall be prohibited by the Administrator of the Alabama Credit Union Administration from beginning the active conduct of business until such time as such credit union has obtained insurance of member accounts either under the provisions of Title II of the Federal Credit Union Act or has obtained approval for private insurance under a private insurance program or carrier. (c) Any credit union which has had insurance of its accounts under Title II of the Federal Credit Union Act or a private insurance program or carrier withdrawn or cancelled must apply for such insurance within 30 days of such cancellation or withdrawal. If such credit union has not obtained such insurance within 90 days after such cancellation or withdrawal, the credit union shall either dissolve or merge with another credit union which is insured under Title II of the Federal Credit Union Act or a privately insured credit union insured under a private insurance program or carrier. (d) The Administrator of the Alabama Credit Union Administration shall be vested with authority to extend the period of time within which a credit union must obtain insurance of its accounts under Title II of the Federal Credit Union Act, to permit other acceptable insurance coverage of its accounts to be utilized by a credit union and to designate into what credit union a credit union not having such insurance coverage shall be merged. (e) The Administrator of the Alabama Credit Union Administration shall make reports of condition and examination reports available to the National Credit Union Administration and, in his or her discretion, the Administrator of the Alabama Credit Union Administration may accept any report or examination made on behalf of the National Credit Union Administration or a private insurance carrier approved in writing by the administrator in lieu of an examination by the administrator. (Acts 1927, No. 597, p. 696; Code 1940, T. 28, §297; Acts 1971, No. 2294, p. 3698; Acts 1975, No. 561, p. 1267, §9; Acts 1978, No. 469, p. 492, §10; Acts 1985, No. 85-457, p. 425, §13; Act 2014-317, p. 1122, §1; Act 2016-133, §1.)
AL Code § 5-17-20 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 17 - Credit Unions.|Article 1 - General Provisions.|Section 5-17-20 - Dividends.

Section 5-17-20Dividends. The directors may declare a dividend from net earnings as the bylaws may provide. (Acts 1927, No. 597, p. 696; Code 1940, T. 28, §298; Acts 1971, No. 2294, p. 3698; Acts 1978, No. 469, p. 492, §11.)
AL Code § 5-17-21 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 17 - Credit Unions.|Article 1 - General Provisions.|Section 5-17-21 - Voluntary Dissolution.

Section 5-17-21Voluntary dissolution. (a) Unless otherwise provided in the bylaws of the credit union, the membership of the credit union may elect to dissolve the credit union upon an affirmative vote of two thirds of the members of the credit union who participate in the vote. (b) The vote to voluntarily dissolve a credit union shall be taken at a meeting held for that purpose. Voting by mail ballot shall be permitted. Notice of the meeting must state that the purpose of the meeting is to vote on the voluntary dissolution of the credit union and must be mailed to the last known address of each member of the credit union at least 30 calendar days prior to the date of the meeting. The notice, at a minimum, shall also contain all of the following information:  (1) A general description of the implications of the dissolution process on the deposit shares of members. (2) A general description of the implications of the dissolution process on members who have borrowings with the credit union. (3) A statement that, following dissolution, the credit union shall continue in existence for the purpose of discharging its debts, collecting and distributing its assets, and doing all other acts required in order to wind up its business. (c) If the membership of a credit union approves the voluntary dissolution of the credit union, upon written notice from the board of directors of the credit union that such action has been approved by the membership and that the requirements of this section have been satisfied, the Administrator of the Alabama Credit Union Administration shall issue in duplicate a certificate to the effect that this section has been complied with. The certificate shall be filed with the probate judge of the county in which the credit union is located, whereupon the credit union is dissolved and shall cease to carry on business except for the purposes of liquidation and the winding up of its business. (d) A credit union voluntarily dissolved pursuant to this section shall continue in existence for the purpose of discharging its debts, collecting and distributing its assets, and doing all other acts required in order to wind up its business, and may sue and be sued for the purpose of enforcing such debts and obligations until its affairs are fully adjusted and wound up. (Acts 1927, No. 597, p. 696; Code 1940, T. 28, §300; Acts 1975, No. 561, p. 1267, §10; Acts 1985, No. 85-457, p. 425, §14; Act 2016-133, §1.)
AL Code § 5-17-23 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 17 - Credit Unions.|Article 1 - General Provisions.|Section 5-17-23 - Change of Place of Business.

Section 5-17-23Change of place of business. A credit union may change its place of business on written notice to the Administrator of the Alabama Credit Union Administration. (Acts 1927, No. 597, p. 696; Code 1940, T. 28, §301; Acts 1975, No. 561, p. 1267, §11; Acts 1985, No. 85-457, p. 425, §16.)
AL Code § 5-17-24 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 17 - Credit Unions.|Article 1 - General Provisions.|Section 5-17-24 - Taxation.

Section 5-17-24Taxation. A credit union shall be deemed an institution for savings and, together with all the accumulations therein, shall not be subject to taxation except as to real estate owned, as to the franchise tax required of other corporations and as to the excise tax required of financial institutions. The shares of a credit union shall not be subject to taxation or to a stock transfer tax when issued by the corporations or when transferred from one member to another. (Acts 1927, No. 597, p. 696; Acts 1939, No. 48, p. 56; Code 1940, T. 28, §302.)
AL Code § 5-17-25 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 17 - Credit Unions.|Article 1 - General Provisions.|Section 5-17-25 - Alabama Credit Union League - Advance Payment of Dues by Member Credit Unions.

Section 5-17-25Alabama Credit Union League - Advance payment of dues by member credit unions. Repealed by Act 2014-317, §2, effective May 1, 2014. (Acts 1963, No. 422, p. 929, §1.)
AL Code § 5-17-26 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 17 - Credit Unions.|Article 1 - General Provisions.|Section 5-17-26 - Alabama Credit Union League - Issuance of Advance Dues Certificates to Member Credit Unions.

Section 5-17-26Alabama Credit Union League - Issuance of advance dues certificates to member credit unions. Repealed by Act 2014-317, §2, effective May 1, 2014. (Acts 1963, No. 422, p. 929, §2.)
AL Code § 5-17-27 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 17 - Credit Unions.|Article 1 - General Provisions.|Section 5-17-27 - Alabama Credit Union League - Amortization of Credit Represented by Advance Dues Certificate.

Section 5-17-27Alabama Credit Union League - Amortization of credit represented by advance dues certificate. Repealed by Act 2014-317, §2, effective May 1, 2014. (Acts 1963, No. 422, p. 929, §3.)
AL Code § 5-17-28 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 17 - Credit Unions.|Article 1 - General Provisions.|Section 5-17-28 - Alabama Credit Union League - Redemption and Purchase of Advance Dues Certificate Upon Dissolution, etc., of Member Credit Union.

Section 5-17-28Alabama Credit Union League - Redemption and purchase of advance dues certificate upon dissolution, etc., of member credit union. Repealed by Act 2014-317, §2, effective May 1, 2014. (Acts 1963, No. 422, p. 929, §4.)
AL Code § 5-17-29 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 17 - Credit Unions.|Article 1 - General Provisions.|Section 5-17-29 - Penalties - Concealment of Discounts or Loans.

Section 5-17-29Penalties - Concealment of discounts or loans. Any officer, director, employee, or committee member of a credit union who intentionally conceals from the directors or a committee of such credit union any discount or loan made for and in behalf of the credit union between the regular meetings of its board of directors or credit committee is guilty of a Class C misdemeanor. (Acts 1989, No. 89-632, p. 1241, §3.)
AL Code § 5-17-30 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 17 - Credit Unions.|Article 1 - General Provisions.|Section 5-17-30 - Penalties - Overdraws; Receipt of Commission, Emolument, etc., for Procuring Loans.

Section 5-17-30Penalties - Overdraws; receipt of commission, emolument, etc., for procuring loans. Any officer, director, committee member, or employee of a credit union who willfully and knowingly overdraws his own account with such credit union and thereby obtains money or funds of any such credit union except as specifically permitted by the written loan policy of the board of directors or asks, receives, consents or agrees to receive any commission, emolument, gratuity, or reward or any promise of any commission, emolument or reward, or any money, property or thing of value or of personal advantage in procuring or endeavoring to procure for any person, firm or corporation any loan from or the purchase or discount of any paper, note, draft check or bill of exchange by any such credit union is guilty of a Class C misdemeanor. (Acts 1989, No. 89-632, p. 1241, §4.)
AL Code § 5-17-31 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 17 - Credit Unions.|Article 1 - General Provisions.|Section 5-17-31 - Penalties - Receipt of Property Other Than in Payment for Just Demand.

Section 5-17-31Penalties - Receipt of property other than in payment for just demand. Any director, officer, committee member, or employee of a credit union who knowingly receives or possesses himself of any of its property otherwise than in payment for a just demand and with intent to defraud shall be guilty of a Class C felony. (Acts 1989, No. 89-632, p. 1241, §5.)
AL Code § 5-17-32 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 17 - Credit Unions.|Article 1 - General Provisions.|Section 5-17-32 - Penalties - False or Omitted Entries.

Section 5-17-32Penalties - False or omitted entries. Any director, officer, committee member or employee of a credit union who with intent to defraud makes or concurs in making any false entry, or with intent to defraud omits or concurs in omitting to make any material entry on its books and accounts, shall be guilty of a Class C felony. (Acts 1989, No. 89-632, p. 1241, §6.)
AL Code § 5-17-40 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 17 - Credit Unions.|Article 2 - Alabama Credit Union Administration.|Section 5-17-40 - Alabama Credit Union Administration Created; Functions; Transfer of Authority Previously Vested in State Banking Department.

Section 5-17-40Alabama Credit Union Administration created; functions; transfer of authority previously vested in State Banking Department. THIS SECTION WAS AMENDED BY ACT 2018-470 IN THE 2018 REGULAR SESSION, EFFECTIVE JUNE 1, 2018. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) There shall be an Alabama Credit Union Administration which shall administer the laws of this state which regulate or otherwise relate to credit unions in the state. The authority of the Alabama Credit Union Administration to perform such functions shall be exclusive and all authority regarding credit unions which was previously vested in the State Banking Department is hereby vested in the Alabama Credit Union Administration. (b) If any of the provisions of this chapter are inconsistent with any other general or special law, this chapter shall control. (Acts 1985, No. 85-457, p. 425, §17; Act 2018-470, §1.)
AL Code § 5-17-41 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 17 - Credit Unions.|Article 2 - Alabama Credit Union Administration.|Section 5-17-41 - Administrator - Appointment; Vacancy; Eligibility.

Section 5-17-41Administrator - Appointment; vacancy; eligibility. (a) The Alabama Credit Union Administration shall be in the charge of the administrator who shall be the chief executive officer of the administration.  (b) The administrator shall be a person of good character. (c) The administrator shall be appointed by the Governor by and with the consent of the Senate. The term of office of the administrator shall expire on the first day of February after the expiration of the term of office of the Governor making the appointment, but the administrator may continue to serve until a successor is appointed and has qualified. If for any reason there should be a vacancy in the office while the Senate is not in session, the Governor shall appoint an administrator and such administrator shall hold office and exercise the powers conferred by law until the Senate meets and passes on the appointment, and if the appointment is disapproved by the Senate another appointment shall be made by the Governor in like manner until an appointment is confirmed by the Senate.  (d) To be eligible for appointment as administrator, a person must have had at least five years' experience in the 10 years next preceding the appointment either as an officer or director of a federal or state credit union or an examiner or other officer in a federal or state credit union supervisory agency or credit union association, or other equivalent experience for at least five years in the 10 years next preceding the appointment. (e) The Governor shall set the salary of the administrator within a salary range established by the Credit Union Board of the Alabama Credit Union Administration. The salary range shall not exceed the salary range set by the Banking Board for the Superintendent of the State Banking Department. (Acts 1985, No. 85-457, p. 425, §18; Act 2006-631, p. 1724, §1.)
AL Code § 5-17-42 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 17 - Credit Unions.|Article 2 - Alabama Credit Union Administration.|Section 5-17-42 - Administrator - Oath; Bond.

Section 5-17-42Administrator - Oath; bond. The administrator, before entering upon the discharge of his or her duties, shall take and subscribe to the oath prescribed by the constitution and laws of this state, and shall cause the Division of Risk Management of the Department of Finance or its successor agency to cover the administrator by bond. The oath shall be filed with the Secretary of State. (Acts 1985, No. 85-457, p. 425, §19; Act 2016-133, §1.)
AL Code § 5-17-43 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 17 - Credit Unions.|Article 2 - Alabama Credit Union Administration.|Section 5-17-43 - Official Seal; Use of Sealed Papers as Evidence; Recording.

Section 5-17-43Official seal; use of sealed papers as evidence; recording. The Secretary of State shall provide the administrator with an official seal. Every paper executed by him as such administrator, in pursuance of any authority conferred on him by law and sealed with his official seal, shall be received in evidence and may be recorded in the proper recording office in the state in the same manner and with the same effect as a deed regularly acknowledged or proven. (Acts 1985, No. 85-457, p. 425, §20.)
AL Code § 5-17-44 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 17 - Credit Unions.|Article 2 - Alabama Credit Union Administration.|Section 5-17-44 - Removal From Office of Administrator or Board Member.

Section 5-17-44Removal from office of administrator or board member. (a) The administrator or any member of the Credit Union Board may be removed from office by a vote of two thirds of the members of the entire Credit Union Board for: (1) neglect of duty; (2) malfeasance; (3) misfeasance; (4) extortion or corruption in office; (5) incompetency; (6) intemperance in the use of intoxicating liquors or narcotics to such an extent, in view of the dignity of the office and the importance of its duties, as to render such person unfit for the discharge of his duties; or (7) any offense involving moral turpitude while in office, committed under color thereof or connected therewith. (b) The administrator may also be removed from office, without cause, upon written order of four appointed members of the Credit Union Board and the Governor. (Acts 1985, No. 85-457, p. 425, §21.)
AL Code § 5-17-46 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 17 - Credit Unions.|Article 2 - Alabama Credit Union Administration.|Section 5-17-46 - Policies, Regulations, and Interpretations; Review for Ratification; Procedure for Adopting, Amending or Repealing.

Section 5-17-46Policies, regulations, and interpretations; review for ratification; procedure for adopting, amending or repealing. (a) The administrator may, with the concurrence of a majority of the members of the Credit Union Board, promulgate such reasonable regulations, consistent with the laws of this state, as may be necessary to carry out the laws over which the Alabama Credit Union Administration has jurisdiction. The administrator shall, in addition, issue written interpretations of credit union laws and regulations. Any credit union and any officer or director thereof relying on any regulation or interpretation shall be fully protected even though the same regulation or interpretation shall be thereafter ruled invalid for any reason by a court of competent jurisdiction. (b) Any policy or written interpretation or credit union laws and regulations shall be reviewed for ratification by the Credit Union Board within 90 days after written request for an interpretation by any member of the Credit Union Board. The policy or written interpretation of credit union laws and regulations shall be invalidated unless a majority of the members of the Credit Union Board ratify the interpretation or policy. (c) The procedure for adopting, amending, or repealing regulations and for the review or ratification of any policy or interpretation shall be the procedure specified in Section 5-17-47. (Acts 1985, No. 85-457, p. 425, §23; Acts 1995, No. 95-315, p. 667, §1; Act 2016-133, §1.)
AL Code § 5-17-48 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 17 - Credit Unions.|Article 2 - Alabama Credit Union Administration.|Section 5-17-48 - Annual Report; Public Distribution of Report and Other Material.

Section 5-17-48Annual report; public distribution of report and other material. The administrator shall make from the reports of the department during the year an annual report to the Governor on the activities of the Alabama Credit Union Administration and such other information as the Governor may request and shall keep on file as a public record in the administrator's office a copy thereof. The administrator may print for public distribution such annual report and such other material as it deems suitable for the more effective administration of business. (Acts 1985, No. 85-457, p. 425, §25.)
AL Code § 5-17-49 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 17 - Credit Unions.|Article 2 - Alabama Credit Union Administration.|Section 5-17-49 - Violations to Be Submitted to Grand Jury.

Section 5-17-49Violations to be submitted to grand jury. Repealed by Act 2014-317, §2, effective May 1, 2014. (Acts 1985, No. 85-457, p. 425, §26.)
AL Code § 5-17-50 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 17 - Credit Unions.|Article 2 - Alabama Credit Union Administration.|Section 5-17-50 - Employment and Compensation of Necessary Personnel; Assistant Administrator.

Section 5-17-50Employment and compensation of necessary personnel; assistant administrator. (a) Subject to the provisions of Section 36-26-1, et seq., the administrator may appoint or employ such assistants, employees, and attorneys as may be necessary to the efficient operation of the department. The administrator shall fix their compensation in accordance with Section 36-26-1, et seq. and the pay plan of the State Personnel Department. All such assistants, employees, and attorneys shall be subject to the provisions of the Merit System. The administrator, with the approval of the Governor, may employ and discharge special counsel as the administrator may deem necessary. (b) The administrator may appoint an assistant administrator, with the approval of the Credit Union Board of the Alabama Credit Union Administration. The administrator shall fix the compensation of the assistant administrator in accordance with Section 36-26-1, et seq. The position of assistant administrator of the Alabama Credit Union Administrator shall be subject to the State Merit System and shall be eligible for and subject to any differential travel policy established by the State Personnel Department. (c) The assistant administrator, in the absence of the administrator, shall exercise any of the powers conferred by law on the administrator and, before entering upon the duties of the office, shall execute to the State of Alabama a bond in the amount of twenty-five thousand dollars ($25,000) for the faithful performance of his or her duties. (Acts 1985, No. 85-457, p. 425, §27; Act 2006-631, p. 1724, §1.)
AL Code § 5-17-51 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 17 - Credit Unions.|Article 2 - Alabama Credit Union Administration.|Section 5-17-51 - Immunity From Personal Liability.

Section 5-17-51Immunity from personal liability. Neither the administrator, any member of the Credit Union Board nor any special agent or employee of the Alabama Credit Union Administration shall be personally liable for any acts done in good faith while in the performance of his or her duties as provided by law. (Acts 1985, No. 85-457, p. 425, §28; Act 2016-133, §1.)
AL Code § 5-17-52 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 17 - Credit Unions.|Article 2 - Alabama Credit Union Administration.|Section 5-17-52 - Oath and Duties of Examiner.

Section 5-17-52Oath and duties of examiner. Before entering upon the discharge of his or her duties, every examiner shall take and file with the administrator an oath faithfully to discharge his or her duties as examiner. Each examiner shall act under the direction of the administrator and shall examine fully the books, records, papers, and affairs of each credit union which the examiner may be directed by the administrator to examine. (Acts 1985, No. 85-457, p. 425, §29; Act 2016-133, §1.)