All banks now or hereafter operating under the laws of this state shall be members of the Federal Deposit Insurance Corporation or such other agency as may be created to insure the deposits of such bank. (Acts 1980, No. 80-658, §5-5-12.)
Membership in Federal Deposit Insurance Corporation, Etc
Ala. Code § 5-5A-12, under Organization and Operation of Banks.
Ala. Code § 5-5A-12