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5-13B-88
Section 5-13B-88 Authority to act as agent. (a) An Alabama state branch or Alabama state agency
of a foreign bank licensed under this article may receive deposits, renew time deposits, close
loans, service loans, and receive payments on loans and other obligations as an agent for
any depository institution affiliate of such foreign bank, including branch, agency, and other
offices of the same foreign bank located in other states, generally in accordance with the
same terms, conditions, procedures, and requirements that are applicable under the laws and
regulations of this state to such agency activities that may be conducted by Alabama state
banks. (b) Notwithstanding any other provision of the laws or regulations of this state, an
Alabama state branch or Alabama state agency of a foreign bank acting in this state as an
agent in accordance with the provisions of this section shall not be considered to be a branch
of such other depository institution affiliate; provided, however, that...
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5-3A-1
Section 5-3A-1 Required times; items to be examined; applicability to bank holding companies
and affiliates. (a) For purposes of this section, a bank holding company is a holding company
organized under the laws of Alabama or another state in the United States that directly owns
a majority of the voting securities of an Alabama state bank. (b) Every bank other than national
banks shall be subject to the supervision and inspection of the superintendent and the regulations
and supervision thereof. The superintendent shall, by competent examiner appointed by him
or her, visit and examine every bank organized under the laws of Alabama at least once in
each eighteen-month period. The examination of banks shall be at irregular intervals. On every
examination, inquiry shall be made as to the conditions and resources of the bank, the mode
of conducting and managing the affairs of the bank, the action of its directors, the investment
of the funds of the bank, the safety and prudence of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-3A-1.htm - 4K - Match Info - Similar pages
5-3A-3
Section 5-3A-3 Disclosure of information obtained by superintendent, bank examiners, etc. (a)
Neither the superintendent, any member of the Banking Board, nor any bank examiner or other
state employee shall disclose the condition and affairs of any bank or bank holding company,
or their subsidiaries or other affiliates, ascertained by an examination of such bank, or
bank holding company, or affiliates, or report or give information as to persons who are depositors
or debtors of a bank, except as authorized or required by law; provided, that this section
shall not be construed to prevent bank examiners and other employees from reporting such information
to the superintendent or such persons as the superintendent may lawfully designate. (b) Notwithstanding
the provisions of subsection (a), the superintendent, at the superintendent's discretion,
may disclose any information, otherwise protected under this section, to the members of the
Banking Board and confer with the members of the...
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45-49-201.40
Section 45-49-201.40 Deposit of monies by license commissioner and other elected officials;
deposit of fiduciary accounts of the probate court. (a) Except as provided in subsection (b),
the license commissioner and other elected officials of Mobile County shall deposit all collection
of monies by his or her office in an interest-bearing checking account or interest-bearing
savings account within Mobile County. (b) Funds deposited in the probate court of the county
in any of its fiduciary accounts shall be exempt from the above interest requirement. Fiduciary
funds or individual fiduciary accounts may be placed in interest-bearing accounts at the discretion
of the judge of probate pursuant to an investment policy to be established by and deemed by
the probate court to be efficient and cost effective. (Act 86-227, p. 335, § 1; Act 98-567,
p. 1270, § 1.)...
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27-6A-4
Section 27-6A-4 Contract requirements. No person, firm, association, or corporation acting
in the capacity of a managing general agent shall place business with an insurer unless there
is in force a written contract between the parties that sets forth the responsibilities of
each party and where both parties share responsibility for a particular function, specifies
the division of such responsibilities, and that contains the following minimum provisions:
(a) The insurer may terminate the contract for cause upon written notice to the managing general
agent. The insurer may suspend the underwriting authority of the managing general agent during
the pendency of any dispute regarding the cause for termination. (b) The managing general
agent shall render accounts to the insurer detailing all transactions and remit all funds
due under the contract to the insurer on not less than a monthly basis. (c) All funds collected
for the account of an insurer will be held by the managing general agent...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-6A-4.htm - 6K - Match Info - Similar pages
38-9B-5
Section 38-9B-5 AFT Corporation, Trust, and Charitable Trust. THIS SECTION WAS AMENDED BY ACT
2018-36 IN THE 2018 REGULAR SESSION, EFFECTIVE JANUARY 31, 2018. THIS IS NOT IN THE CURRENT
CODE SUPPLEMENT. (a) The board of trustees shall establish and administer the AFT Corporation.
The board of trustees shall execute all documents necessary to establish and administer the
AFT Corporation including, but not limited to, documents to form a not-for-profit corporation
and to qualify as an organization pursuant to Section 501(c)(3) of the United States Internal
Revenue Code. (b) The AFT Corporation shall establish the AFT Trust and the AFT Charitable
Trust, and the board of trustees shall administer the AFT Trust and the AFT Charitable Trust
through the AFT Corporation. The board of trustees and the AFT Corporation shall take all
steps necessary to satisfy all federal and state laws, and all regulations, rules, and policies
established by the federal Social Security Administration to ensure...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/38-9B-5.htm - 10K - Match Info - Similar pages
45-40-232.02
Section 45-40-232.02 Sale of surplus property; lamination of documents of records. (a) The
sheriff may sell surplus property of the sheriff's department including vehicles, at a time
and manner the sheriff deems best to get the greatest return from the original investment.
(b) All monies received from the sale of the property shall be deposited into the sheriff's
vehicle fund set up by the sheriff in a bank in Lawrence County and used by the Sheriff of
Lawrence County to purchase vehicles or equipment for the sheriff's department. (c) Proceeds
received by the sheriff's department for laminating documents or records shall be deposited
into the sheriff's vehicle fund and used in the same manner as other moneys in the fund. (Act
2009-386, p. 710, §1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-40-232.02.htm - 1K - Match Info - Similar pages
26-1A-215
Section 26-1A-215 Retirement plans. (a) In this section, "retirement plan" means
a plan or account created by an employer, the principal, or another individual to provide
retirement benefits or deferred compensation of which the principal is a participant, beneficiary,
or owner, including a plan or account under the following sections of the Internal Revenue
Code: (1) an individual retirement account under Internal Revenue Code Section 408, 26 U.S.C.
Section 408, as amended; (2) a Roth individual retirement account under Internal Revenue Code
Section 408A, 26 U.S.C. Section 408A, as amended; (3) a deemed individual retirement account
under Internal Revenue Code Section 408(q), 26 U.S.C. Section 408(q), as amended; (4) an annuity
or mutual fund custodial account under Internal Revenue Code Section 403(b), 26 U.S.C. Section
403(b), as amended; (5) a pension, profit-sharing, stock bonus, or other retirement plan qualified
under Internal Revenue Code Section 401(a), 26 U.S.C. Section...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/26-1A-215.htm - 2K - Match Info - Similar pages
27-5A-4
Section 27-5A-4 Required contract provisions; reinsurance intermediary-brokers. Transactions
between a reinsurance intermediary-broker and the insurer it represents in that capacity shall
only be entered into pursuant to a written authorization, specifying the responsibilities
of each party. The authorization shall, at a minimum, provide that: (1) The insurer may terminate
the reinsurance intermediary-broker's authority at any time. (2) The reinsurance intermediary-broker
shall render accounts to the insurer accurately detailing all material transactions, including
information necessary to support all commissions, charges, and other fees received by, or
owing, to the reinsurance intermediary-broker, and remit all funds due to the insurer within
30 days of receipt. (3) All funds collected for the insurer's account shall be held by the
reinsurance intermediary-broker in a fiduciary capacity in a bank which is a qualified U.S.
financial institution as defined herein. (4) The reinsurance...
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27-5A-7
Section 27-5A-7 Required contract provisions; reinsurance intermediary-managers. Transactions
between a reinsurance intermediary-manager and the reinsurer it represents in that capacity
shall only be entered into pursuant to a written contract, specifying the responsibilities
of each party, which shall be approved by the reinsurer's board of directors. At least 30
days before a reinsurer assumes or cedes business through a producer, a true copy of the approved
contract shall be filed with the commissioner for approval. The contract shall, at a minimum,
provide that: (1) The reinsurer may terminate the contract for cause upon written notice to
the reinsurance intermediary-manager. The reinsurer may immediately suspend the authority
of the reinsurance intermediary-manager to assume or cede business during the pendency of
any dispute regarding the cause for termination. (2) The reinsurance intermediary-manager
shall render accounts to the reinsurer accurately detailing all material...
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