Statutes > Alabama Statutes > Title 5 — BANKS AND FINANCIAL INSTITUTIONS. > Chapter 17 — CREDIT UNIONS. > Section 5-17-40 Alabama Credit Union Administration created; functions; transfer of authority previously vested in State Banking Department.

Section 5-17-40 Alabama Credit Union Administration created; functions; transfer of authority previously vested in State Banking Department.

Section 5-17-40

Alabama Credit Union Administration created; functions; transfer of authority previously vested in State Banking Department.

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.

(Acts 1985, No. 85-457, p. 425, §17.)