Ala. Code § 23-7-10
Current with legislation from 2024 effective through May 17, 2024.
The bank is performing an essential governmental function in the exercise of the powers conferred upon it and is not required to pay taxes or assessments upon property or upon its operations or the income from them, or taxes or assessments upon property or loan obligations acquired or used by the bank or upon the income from them.
Ala. Code § 23-7-10 (1975)