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AL SB232

Bill

Official Source

Status

Introduced

1/29/2026

Primary Sponsor

Robert Stewart

Click for details

Origin

Senate

2026 Regular Session

AI Summary

  • Authorizes volunteer fire departments and rescue squads to deposit, invest, and manage funds in any federally insured bank or credit union chartered under state or federal law
  • Prohibits commingling department or squad funds with private funds
  • Requires all deposits of public funds to comply with security, reporting, and auditing requirements under local, state, and federal law
  • Amends Section 9-3-18.1 of the Code of Alabama 1975 to add a definition of "federally insured financial institution"
  • Effective date: October 1, 2026

Legislative Description

Volunteer fire departments; authorized to deposit funds with financial institutions

Public Safety & Emergencies

Last Action

Pending Senate Banking and Insurance

1/29/2026

Committee Referrals

Banking and Insurance1/29/2026

Full Bill Text

No bill text available