# Ala. Code § 41-14A-8: Section 41-14A-8 Contingent Liability

> Alabama · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_AL_T41_C14A_S41-14A-8

## Section

- **Citation:** Ala. Code § 41-14A-8
- **Heading:** Section 41-14A-8 Contingent Liability
- **Jurisdiction:** Alabama
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Alabama Code / Title 41 / Chapter 14A / Section 41-14A-8

## Text

Every qualified public depository that is solvent shall guarantee public depositors against loss caused by the default or insolvency of other qualified public depositories according to the terms of this chapter and shall enter into an agreement of contingent liability with the State Treasurer on behalf of the Loss Payment Fund, which agreement shall be in a form which is prescribed or approved by the board of directors, and which, when executed, shall become a part of the official records of the SAFE Program. The qualified public depository shall submit to the State Treasurer evidence that the depository’s contingent liability agreement has been approved by the board of directors or other governing body of the qualified public depository and shall become a part of the official records of the qualified public depository.

## Nearby sections

- [Ala. Code § 41-14A-1 Section 41-14A-1 Short Title](https://www.frixlaw.com/law-library/statutes/STATE_AL_T41_C14A_S41-14A-1.md)
- [Ala. Code § 41-14A-2 Section 41-14A-2 Definitions](https://www.frixlaw.com/law-library/statutes/STATE_AL_T41_C14A_S41-14A-2.md)
- [Ala. Code § 41-14A-3 Section 41-14A-3 Public Deposits to Be Secured; Exemptions](https://www.frixlaw.com/law-library/statutes/STATE_AL_T41_C14A_S41-14A-3.md)
- [Ala. Code § 41-14A-4 Section 41-14A-4 Establishment of Security for Alabama Funds Enhancement Program; Powers and Duties of the State Treasurer Relating to the Program; Tax Exemption for Funds Maintained by State Treasurer Pursuant to Chapter](https://www.frixlaw.com/law-library/statutes/STATE_AL_T41_C14A_S41-14A-4.md)
- [Ala. Code § 41-14A-5 Section 41-14A-5 Collateral for Public Deposits; General Provisions](https://www.frixlaw.com/law-library/statutes/STATE_AL_T41_C14A_S41-14A-5.md)
- [Ala. Code § 41-14A-6 Section 41-14A-6 Establishment of Safe Board of Directors; Powers and Duties](https://www.frixlaw.com/law-library/statutes/STATE_AL_T41_C14A_S41-14A-6.md)
- [Ala. Code § 41-14A-7 Section 41-14A-7 Disciplinary Actions Against Qualified Public Depositories for Violations of This Chapter](https://www.frixlaw.com/law-library/statutes/STATE_AL_T41_C14A_S41-14A-7.md)
- [Ala. Code § 41-14A-8 Section 41-14A-8 Contingent Liability](https://www.frixlaw.com/law-library/statutes/STATE_AL_T41_C14A_S41-14A-8.md)
- [Ala. Code § 41-14A-9 Section 41-14A-9 Procedures for Payment of Losses](https://www.frixlaw.com/law-library/statutes/STATE_AL_T41_C14A_S41-14A-9.md)
- [Ala. Code § 41-14A-10 Section 41-14A-10 Safe Loss Payment Fund](https://www.frixlaw.com/law-library/statutes/STATE_AL_T41_C14A_S41-14A-10.md)
- [Ala. Code § 41-14A-11 Section 41-14A-11 Liability of Public Depositors and the State](https://www.frixlaw.com/law-library/statutes/STATE_AL_T41_C14A_S41-14A-11.md)
- [Ala. Code § 41-14A-12 Section 41-14A-12 Disposition of Funds](https://www.frixlaw.com/law-library/statutes/STATE_AL_T41_C14A_S41-14A-12.md)
- [Ala. Code § 41-14A-13 Section 41-14A-13 Establishment of Program Enforcement Fund](https://www.frixlaw.com/law-library/statutes/STATE_AL_T41_C14A_S41-14A-13.md)
- [Ala. Code § 41-14A-14 Section 41-14A-14 Audit by Examiner of Public Accounts](https://www.frixlaw.com/law-library/statutes/STATE_AL_T41_C14A_S41-14A-14.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_AL_T41_C14A_S41-14A-8. Check the current official text before relying on it. Not legal advice.