Ala. Code § 5-17-14
Current with legislation from 2024 effective through July 1, 2024.
The capital of a credit union shall consist of the payments that have been made to it by the several members thereof on shares. The credit union shall have a lien on the shares and deposits of a member for any sum due to the credit union from said member or for any loan endorsed by him. A credit union may charge an entrance fee as may be fixed by the bylaws; provided, that such entrance fee shall not exceed $1.00.
Ala. Code § 5-17-14 (1975)