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5-3A-9
Section 5-3A-9 Loans, gifts, favors, etc., to Banking Department employees from banks, employees,
etc., prohibited. (a) No officer, agent or employee of any bank shall offer or give to an
employee of the State Banking Department or his family, and no such employee nor his family
shall solicit or receive anything of value directly or indirectly from a bank, including a
gift, favor, or service or a promise of future employment. Expenses associated with social
occasions afforded such employee shall not be deemed a thing of value within the meaning of
this section or prohibited hereby. (b) No superintendent, assistant superintendent, deputy
superintendent or bank examiner of the State Banking Department shall, either directly or
indirectly, be pecuniarily interested in nor borrow from a state bank. Debts now existing
and any debt which may be owing at the time of employment to state banks may not be extended
or renewed. (c) Nothing herein shall be construed to prohibit the superintendent...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-3A-9.htm - 1K - Match Info - Similar pages
5-5A-22
Section 5-5A-22 Limits of indebtedness. (a) No bank shall make a loan to any one person which,
when combined with all other loans to such person, would cause total loans to that person
to exceed: (1) Ten percent of the capital accounts of the bank, if such loans are not secured,
or (2) Twenty percent of the capital accounts of the bank, if loans in excess of 10 percent
of capital are fully secured. (b) No loans which would exceed the limitation set forth in
subsection (a)(1) shall be made unless duly authorized or approved in advance by the board
of directors of the bank, a committee of the board of directors of the bank, or a loan committee,
with such authorization or approval recorded in minutes of the meeting at which the authority
was given. (c)(1) As used in this section, the term "capital accounts" shall include
capital, surplus, and undivided profits as defined in Section 5-1A-2, together with obligations
of the bank subordinated in priority upon liquidation or dissolution to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-5A-22.htm - 6K - Match Info - Similar pages
27-6-16
Section 27-6-16 Release of deposit - Filing of statement; authorization of release. (a) Before
authorizing the release of any deposit or excess portion thereof to the insurer, as provided
in Section 27-6-15, the commissioner shall require the insurer to file with him a statement
under its seal and the oath of its chief executive officer, or of its United States manager
in the case of an alien insurer, setting forth the facts upon which it bases its entitlement
to such release. (b) If release of the deposit is claimed by the insurer upon the ground that
its liabilities in this state, as to which the deposit was originally made and is held, have
been assumed by another insurer authorized to transact insurance in this state, the insurer
shall file with the commissioner a copy of the contract or agreement of such reinsurance.
(c) Upon being satisfied by such statement and such other information and evidence as he may
reasonably require and by such examination, if any, of the affairs of the...
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5-20-3
Section 5-20-3 Definitions. Notwithstanding any other provision of law, for the purposes of
this chapter, the following terms shall have the meanings prescribed by this section: (1)
ALABAMA BANK. A bank which is organized under the laws of this state or of the United States
and which has its principal place of business in this state. (2) BANK. Any "insured bank"
as such term is defined in Section 3(h) of the Federal Deposit Insurance Act, 12 U.S.C. §1813(h).
(3) BANK HOLDING COMPANY. Any company which is a bank holding company under the Bank Holding
Company Act of 1956, as amended, 12 U.S.C. §1841(a). (4) CREDIT CARD. Any type of arrangement
or agreement pursuant to which any domestic lender or credit card bank, whether directly or
indirectly through any domestic lender acting as its agent, gives a debtor the privilege of
using a credit card or other credit confirmation, device or instrument of any type in transactions
out of which debt arises: a. By the domestic lender or credit...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-20-3.htm - 3K - Match Info - Similar pages
35-12-72
or its agent. c. Property not subject to paragraphs a. or b. within two years of the distribution
shall remain reportable under other sections of this article. (12) Property received by a
court as proceeds of a class action, and not distributed pursuant to the judgment, one year
after the distribution date. (13) Property held by a court, government, governmental subdivision,
agency, or instrumentality, one year after the property becomes distributable. (14) Wages
or other compensation for personal services, one year after the compensation becomes
payable. (15) Deposit or refund owed to a subscriber by a utility, one year after the deposit
or refund becomes payable. (16) Any check, warrant, debit card, or other payment instrument
drawn on or issued by the State of Alabama, outstanding and unpaid within the time frame allowed
under Section 41-4-60. (17) Gift certificate, other than those exempt under Section 35-12-73,
three years after June 30 of the year in which the certificate was...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-12-72.htm - 8K - Match Info - Similar pages
5-5A-11
Section 5-5A-11 Permit to transact business - Examination; issuance and recordation of permit.
The superintendent shall, before issuing his permit to any bank to commence business under
the application provided for in Section 5-5A-1, examine or cause an examination to be made
in order to ascertain whether the requisite capital of such bank has been paid in cash. If
the superintendent shall find that the requisite capital has been paid in cash, that the certificate
of incorporation has been approved and recorded and that all other requirements for the issuance
of the permit have been met, he shall issue his permit authorizing such bank to commence business
at the place, time and under the name as stated in the application for the permit and to transact
business in this state as a bank, which permit shall be recorded in the office of the superintendent
in a book to be kept by him for that purpose, and a certified copy thereof shall be filed
and recorded at the expense of the bank in the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-5A-11.htm - 1K - Match Info - Similar pages
27-6-15
Section 27-6-15 Release of deposit - Generally. (a) All deposits in this state made under this
title shall be held on deposit as long as there is outstanding any liability of the insurer
with respect to which the deposit was made. (b) Any such deposit shall be released and returned:
(1) To the insurer upon extinguishment by reinsurance in an insurer authorized to transact
such insurance in this state, or otherwise, of all liability of the insurer for the security
of which the deposit is held; (2) To the insurer during solvency, to the extent such deposit
is in excess of the amount required; or (3) Upon proper order of a court of competent jurisdiction,
to the receiver, conservator, rehabilitator, or liquidator of the insurer or to any other
properly designated official, or officials, who succeed to the management and control of the
insurer's assets. (c) The Treasurer shall release any such deposit, or part thereof, upon
written authorization of the commissioner and of the insurer or...
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45-49-160.04
the processing or transactional fees imposed on the transaction by the credit card company
or banking institution. (f) No person making any payment by credit card shall be relieved
from liability for the underlying obligation except to the extent that the government realizes
final payment of the underlying obligation in cash or the equivalent. If final payment is
not made by the credit card processor or other guarantor of payment in the credit card transaction,
the underlying obligation shall survive and the elected official shall retain all remedies
for enforcement which would have applied if the credit card transaction had not occurred.
No contract may modify this provision. (g) An elected official who accepts a credit card payment
in accordance with this section and any applicable policies, rules, or regulations of county
government shall not incur any personal liability for the final collection of the payments.
(Act 99-651, 2nd Sp. Sess., p. 105, § 1; Act 2010-268, p. 488, § 1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-49-160.04.htm - 3K - Match Info - Similar pages
16-13-98
claims which are secured by a pledge of the said tax superior to the pledge securing the claim
to which such payment is to be applied, and such deposit shall be applied to no other purpose
until all such claims are satisfied. Any custodian, treasurer, superintendent of education,
member of a board of education or other officer who shall by vote or in any other manner cause,
aid or encourage any diversion of any such deposit to any other purpose or any misappropriation
thereof whereby loss or injury to the owner or holder of any such claim is caused shall
be jointly and severally liable, both personally and upon his official bond, if bonded, to
such owner or holder to the extent of such loss or injury, including attorneys' fees
and other collection costs. Any failure to make such deposit as required by the section or
to apply the same as herein provided shall be construed as a diversion or a misappropriation,
and any owner or holder of any claim then or at any time in the future payable...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-13-98.htm - 4K - Match Info - Similar pages
16-6E-4
Section 16-6E-4 Intervention in local education operations and assumption of control by State
Board of Education. The State Board of Education may intervene in the educational operations
of a city or county board of education and thereby assume general and direct control over
all decision making and operational functions of the city or county board of education under
and subject to the following terms and conditions: (1) If the State Superintendent of Education
determines that a majority of the schools in the system are priority schools, or the system
is not in compliance with Chapter 13A of this title or the accreditation status of the system
or a majority of the schools in the system has been placed on probation, or suspended, or
revoked, or if any other formal disciplinary action has been ordered by the accrediting authority,
the State Superintendent of Education shall issue a written notice to the local superintendent
of education and the presiding officer of the city or county...
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