Section 27-26-31 Insufficiency of funds. - Alabama Statutes

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Section 27-26-31

Insufficiency of funds.

In the event that sufficient funds are not available for the sound financial operation of the association, pending recoupment, as provided in subsection (a) of Section 27-26-25, all members shall, on a temporary basis contribute to the financial requirements of the association in the manner provided for in Section 27-26-37. Any such contribution shall be reimbursed to the members by recoupment as provided in Section 27-26-29.

(Acts 1975, No. 513, p. 1148, §7(16).)

State Codes and Statutes

Statutes > Alabama > Title27 > Chapter26 > 27-26-31

Section 27-26-31

Insufficiency of funds.

In the event that sufficient funds are not available for the sound financial operation of the association, pending recoupment, as provided in subsection (a) of Section 27-26-25, all members shall, on a temporary basis contribute to the financial requirements of the association in the manner provided for in Section 27-26-37. Any such contribution shall be reimbursed to the members by recoupment as provided in Section 27-26-29.

(Acts 1975, No. 513, p. 1148, §7(16).)

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State Codes and Statutes

Statutes > Alabama > Title27 > Chapter26 > 27-26-31

Section 27-26-31

Insufficiency of funds.

In the event that sufficient funds are not available for the sound financial operation of the association, pending recoupment, as provided in subsection (a) of Section 27-26-25, all members shall, on a temporary basis contribute to the financial requirements of the association in the manner provided for in Section 27-26-37. Any such contribution shall be reimbursed to the members by recoupment as provided in Section 27-26-29.

(Acts 1975, No. 513, p. 1148, §7(16).)