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11-54-131
Section 11-54-131 Investment of moneys; duties of fund manager. (a) Moneys held in and forming
a part of an endowment trust fund, including, without limitation, proceeds of investments
held in and forming a part of the fund, shall, to the extent practicable and feasible, be
kept fully and continuously invested, pending their distribution and expenditure for the purposes
authorized by this division, in any of the following: (1) Interest-bearing bank time deposits
and interest-bearing bank certificates of deposit. (2) Debt securities that are direct general
obligations of the United States of America or any agency thereof, and debt securities of
any state or local government. (3) Other debt securities, common and preferred stocks, shares
of investment companies or mutual funds, or other like investments. (b) All of the above as
may be authorized in the trust agreement under which such fund has been established, and all
with the care, skill, prudence, and diligence under the circumstances...
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27-32-23
Section 27-32-23 Deposit of moneys collected. The moneys collected by the commissioner in a
proceeding under this chapter shall be from time to time deposited in one or more state or
national banks, savings banks, or trust companies; and, in the case of the insolvency or voluntary
or involuntary liquidation of any such depositary which is an institution organized and supervised
under the laws of this state, such deposits shall be entitled to priority of payment on an
equality with any other priority given by the banking laws of this state. The commissioner
may, in his discretion, deposit such moneys, or any part thereof, in a national bank or trust
company as a trust fund. (Acts 1971, No. 407, p. 707, §642.)...
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5-13B-93
Section 5-13B-93 Representative office - Revocation of license. The superintendent, after notice
and opportunity for a hearing, may revoke a license to establish and maintain an Alabama representative
office if he or she finds: (1) The foreign bank has violated any provision of this article
or any other law, rule, or regulation of this state; or (2) Any fact or condition exists which,
if it had existed at the time of the foreign bank's original application for such license,
would have resulted in the superintendent's refusal to issue such license to the foreign bank.
(Acts 1995, No. 95-115, p. 134, §41.)...
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5-2A-61
Section 5-2A-61 Created; commissioner and deputy commissioner generally; examiners; disclosure
of information by officers; seal of commissioner. (a) There is hereby created a Savings and
Loan Bureau which shall be a bureau of the State Banking Department. (b) The bureau shall
be set up, established and administered by the Savings and Loan Commissioner under the executive
direction and control of the State Banking Department, and the commissioner shall be the same
person as the Superintendent of Banks. The Deputy Superintendent of Banks shall be the deputy
commissioner. The salaries of the commissioner and the deputy commissioner shall be payable
out of the treasury, as the salaries of other state officials are paid, and the commissioner
and his deputy shall be allowed and paid for necessary travelling expenses while travelling
upon official business as provided in Article 2 of Chapter 7 of Title 36. (c) The deputy commissioner
shall serve as secretary at the meetings of the Savings and...
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5-6A-1
Section 5-6A-1 Directors of banks to own stock in bank; citizenship and residence of directors.
Not less than 75 percent of the directors of a bank shall, during their whole term of service,
be citizens of the United States. Every director of a bank shall be the owner and holder of
shares of stock in the bank or parent bank holding company. Every director shall hold such
shares in his or her own name, unpledged and unencumbered in any way except statutory lien
which might attach in favor of such corporation. No person convicted of a felony or a crime
involving moral turpitude shall serve as a director. At least 51 percent of the directors
of every bank shall be residents of the state. Any director at any time violating any of the
provisions of this section shall be removed from office by the board of directors or by the
superintendent when the facts are made known to the superintendent. (Acts 1980, No. 80-658,
§5-6-1; Act 98-244, p. 403, §1.)...
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11-81-169
Section 11-81-169 Revenue bonds - Disposition of proceeds from sale - Generally. The governing
body, where practicable, shall require that the proceeds of the sale of bonds issued under
the provisions of this article be deposited in a special account or accounts in a bank or
banks which are members of the federal reserve system and shall require, insofar as practicable,
that each such deposit be secured by United States government securities having an aggregate
market value at least equal to the sum at the time on deposit, or, in any event, the proceeds
shall be deposited in some bank or other depository either within or without the state which
will secure such deposit satisfactorily to said governing body. (Acts 1933, Ex. Sess., No.
102, p. 88; Code 1940, T. 37, §320.)...
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2-6-70
Section 2-6-70 Definitions. As used in this article, the following words shall have the following
meanings unless the context clearly requires otherwise: (1) AGRICULTURAL CENTER BOARD. The
board of that name established pursuant to Article 2 of this chapter. (2) AGRICULTURAL FUND.
The fund of that name created and administered pursuant to Article 1, Chapter 9, Title 2.
(3) BOARD OF AGRICULTURE AND INDUSTRIES. The Alabama Board of Agriculture and Industries created
pursuant to Section 2-3-1. (4) BUILDING COMMISSION. The Building Commission created under
Article 6, Chapter 9, Title 41, and any successor agency thereto. (5) COLISEUM. The existing
Garrett Coliseum and the grounds and other buildings and structures associated therewith,
all owned by the Agricultural Center Board and located in the City of Montgomery, Alabama.
(6) CORPORATION. The public corporation authorized to be created by this article. (7) ELIGIBLE
INVESTMENTS. (i) Any time deposit with, or any certificate of deposit...
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41-14-2
Section 41-14-2 Application for designation action upon default or insolvency. Before any bank
or savings association shall be designated as a state depositary, it shall be designated as
a qualified public depository under Chapter 14A of this title, and it shall file with the
State Treasurer an application in writing to be designated as a state depositary under the
terms of this article. Such qualified public depository shall accompany such application with
a statement, verified by the affidavit of its president or other executive head, setting forth
the amount of its paid-in capital stock, the amount of its surplus and undivided profits,
its principal place of business, the length of time it has been engaged in business and its
assets and liabilities at the time of making application. In the event of the default or insolvency,
as defined in Section 41-14A-2, of any state depository, the State Treasurer shall take prompt
action to enforce the rights of the state and the State Treasurer...
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5-13B-103
Section 5-13B-103 Supervision and enforcement. (a) The superintendent shall have all of the
powers granted to him or her by the laws of this state to the extent appropriate to enable
him or her to supervise each Alabama state branch, Alabama state agency, or Alabama representative
office. (b) If, after notice and a hearing, the superintendent finds that any person has violated
any provision of this article or of any regulation or order issued under this article, he
or she may, in addition to any other remedy or action available to the superintendent under
the laws of this state, order such person to pay to the superintendent a civil penalty in
such a manner and in such an amount as the superintendent shall determine in accordance with
the laws of this state and regulations thereunder. (c) In order to carry out the purposes
under this article, the superintendent may: (1) Enter into cooperative, coordinating, or information-sharing
agreements with any other bank supervisory agency or any...
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41-10-451
Section 41-10-451 Definitions. (1) AUTHORITY. The public corporation organized pursuant to
the provisions of this article. (2) BONDS. Those bonds, including refunding bonds, authorized
to be issued by the authority pursuant to act of the Legislature. (3) GOVERNMENT SECURITIES.
Any bonds or other obligations which as to principal and interest constitute direct obligations
of, or are unconditionally guaranteed by, the United States of America, including obligations
of any federal agency to the extent such obligations are unconditionally guaranteed by the
United States of America and any certificates or any other evidences of an ownership interest
in such obligations of, or unconditionally guaranteed by, the United States of America or
in specified portions thereof (which may consist of the principal thereof or the interest
thereon). (4) PERMITTED INVESTMENTS. (i) Government securities; (ii) bonds, debentures, notes
or other evidences of indebtedness issued by any of the following...
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