5-13B-83
Section 5-13B-83 Application to establish and maintain a branch or agency - Manner of filing
and determination. (a) A foreign bank making an application under this article for a license
to establish and maintain an Alabama state branch or Alabama state agency shall deliver to
the superintendent: (1) At least two, or more as the superintendent may require by regulation,
duplicate originals of the foreign bank's application; and (2) At least two, or more as the
superintendent may require by regulation, copies of its charter or articles of incorporation
and all amendments thereto, duly authenticated by the proper officer of the country of such
foreign bank's organization. (b) The superintendent shall issue a license to a foreign bank
to establish and maintain an Alabama state branch or Alabama state agency if he or she finds
that: (1) The foreign bank is of good character and sound financial standing; (2) The management
of the foreign bank and the proposed management of the Alabama state...
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5-13B-97
Section 5-13B-97 Service of process. (a) Service of any lawful process in any judicial or administrative
proceeding against the foreign bank or any of its successors which arises out of the foreign
bank's activities in this state shall be made on the superintendent by delivering to and leaving
with him or her, or with any official having charge of his or her office, duplicate copies
of such process, notice, or demand. If any process, notice, or demand is served on the superintendent,
he or she shall immediately cause a copy thereof to be forwarded by registered mail addressed
to such foreign bank at its principal office as the same appears in his or her records. Any
service so had on the superintendent shall be returnable in not less than 30 days. (b) Nothing
in this article limits or affects the right to serve any process, notice, or demand required
or permitted by law to be served upon a foreign corporation in any other manner now or hereafter
permitted by law. (c) The superintendent...
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5-2A-12
Section 5-2A-12 Superintendent - Order to correct unsafe and unsound matters; penalties; procedure.
(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) The superintendent may order a bank, a
bank holding company, the board of directors, any director or directors, and any officer or
officers of any bank or bank holding company, individually or collectively (hereafter affected
person, whether one or more) to correct any matters in the conduct of the affairs of the bank
which in the opinion of the superintendent are unsafe and unsound. The Banking Board, after
at least 20 days' written notice by the superintendent to the bank and any affected person,
and a hearing before the Banking Board, may direct the superintendent to issue an order that
imposes civil money penalties on the bank or bank holding company...
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5-13B-4
Section 5-13B-4 Permitted acquisitions. (a) No company may acquire an Alabama bank holding
company or an Alabama state bank without the prior approval of the superintendent. (b) The
approval of the superintendent under subsection (a) shall not be required where the acquisition
is made: (1) In a transaction arranged by the superintendent or another bank supervisory agency
to prevent the insolvency or closing of the acquired bank; or (2) In a transaction in which
a bank forms its own bank holding company, if the ownership rights of the former bank shareholders
are substantially similar to those of the shareholders of the new bank holding company. (c)
No Alabama bank holding company may acquire an out-of-state bank or bank holding company without
the prior approval of the superintendent. (d) In a transaction for which the superintendent's
approval is not required under this section, the parties shall give written notice to the
superintendent at least 15 days before the effective date of...
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5-13B-82
Section 5-13B-82 Application to establish and maintain a branch or agency - Contents. (a) A
foreign bank, in order to procure a license under this article to establish and maintain an
Alabama state branch or Alabama state agency shall submit an application to the superintendent.
Such application shall contain: (1) The same information as required by the Board of Governors
of the Federal Reserve System for an application to establish a branch or agency, as the case
may be, in the United States; and (2) Such additional information as the superintendent may
require by regulation or order. (b) In addition to the information required to be included
in an application for a license to establish and maintain an Alabama state branch or Alabama
state agency listed in subsection (a), the superintendent may as he or she deems necessary
or appropriate require a foreign bank to include as part of such an application an instrument
irrevocably appointing the superintendent and his or her successors in...
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5-5A-2
Section 5-5A-2 Procedure for incorporation - Notice of intention to incorporate. Before a bank
can become incorporated under the laws of Alabama, a notice of intention to organize such
bank shall be published once a week for three successive weeks in the newspaper designated
by the superintendent. Such notice shall specify the names of the proposed incorporators,
the name of the proposed corporation, the place where it proposes to do business and the amount
of capital paid in with which it will commence business, provided however, where the superintendent
determines an emergency exists which might cause or has caused closing or liquidating an existing
bank, the superintendent may waive such advance publication requirement in order to permit
formation of a new bank, and such publication shall occur after the new bank commences business.
(Acts 1980, No. 80-658, §5-5-2.)...
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5-8A-1
Section 5-8A-1 Liquidation of solvent banks. Any solvent bank may dissolve under the provisions
of Alabama law relating to voluntary dissolution of a business corporation provided that the
superintendent has given his written approval to such dissolution. The superintendent may
require the directors to give bond in an amount fixed by him with surety or sureties to be
approved by him, payable to the State of Alabama, for the protection of the superintendent
and all other persons interested; provided, however, the amount of any such bond required
shall not be greater than the total liability of the bank to its depositors and other creditors.
Upon receipt of the written approval of the superintendent of the statutory dissolution procedures,
it shall be unlawful for said bank to receive any further deposits. (Acts 1980, No. 80-658,
§5-8-1.)...
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5-13B-2
Section 5-13B-2 Definitions. For purposes of this article: (a) "Acquire" means: (1)
For a company to merge or consolidate with a bank holding company; (2) For a company to assume
direct or indirect ownership or control of: (I) More than 25 percent of any class of voting
shares of a bank holding company or a bank, if the acquiring company was not a bank holding
company prior to such acquisition; (II) More than five percent of any class of voting shares
of a bank holding company or a bank, if the acquiring company was a bank holding company prior
to such acquisition; or (III) All or substantially all of the assets of a bank holding company
or a bank; or (3) For a company to take any other action that results in the direct or indirect
acquisition of control by such company of a bank holding company or a bank; however, formation
of a de novo bank pursuant to Chapter 5A of this title is not an acquisition for purposes
of this article. (b) "Affiliate" has the meaning set forth in Section...
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5-13B-62
Section 5-13B-62 Citizenship and residency requirements for directors of state banks. Notwithstanding
any other provision of the laws and regulations of this state, the citizenship and residency
requirements otherwise applicable to members of the board of directors of any Alabama bank
may, in the case of an Alabama bank which is a subsidiary or affiliate of a foreign bank,
be waived by the superintendent in his or her discretion upon application by the controlling
shareholder of the Alabama bank; provided that at least a majority of the directors shall
be citizens of the United States and at least 25 percent of the directors shall be residents
of this state. (Acts 1995, No. 95-115, p. 134, §27.)...
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5-13B-9
Section 5-13B-9 Agency activities. (a) Any Alabama state bank may, upon compliance with the
requirements of this section, agree to receive deposits, renew time deposits, close loans,
service loans, receive payments on loans and other obligations and, with the prior approval
of the superintendent, perform other services as an agent for any depository institution.
(b) An Alabama state bank that proposes to enter into an agency agreement to perform services
other than those specifically designated in subsection (a) shall file with the superintendent
at least 30 days before the effective date of the agreement: (1) A notice of intention to
enter into such an agency agreement with a depository institution; (2) A description of the
services other than those specifically designated in subsection (a) proposed to be performed
under the agency agreement; and (3) A copy of the agreement. (c) If any proposed service is
not specifically designated in subsection (a) and has not previously been...
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