Ala. Code § 5-11A-36 (1975) - 'Related' defined

Cite as:Ala. Code § 5-11A-36 (1975)
Currency:Current through the 2020 Regular Session Acts 1 through 206
 
FREE EXCERPT

A transferor bank, trust company or trust department is "related" to a transferee bank, trust company or trust department if:

(1) Such transferee controls the transferor;

(2) Such transferor controls the transferee;

(3) The same entity controls, directly or indirectly, the transferor and the transferee;

(4) A majority of the directors of the transferor are directors of the transferee; or

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