Ala. Admin. Code r. 80-8-3-.04 - Procedure When Bond Cancelled
When a person required to be bonded under Code of Ala. 1975, § 2-10-23, has the bond cancelled, or in any other manner is not covered under the bond, the association shall then immediately, as provided by law, remove such person from any position with the association that is in control of, or handling the money or property of, the association. Failure of the association to take these steps will be considered grounds for revocation of its permit.
Author: Charles H. Barnes
Notes
Statutory Authority: Code of Ala. 1975, §§ 2-3-4, 2-10-23.
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.