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5-13B-27
Section 5-13B-27 Enforcement. If the superintendent determines that a branch maintained by
an out-of-state state bank in this state is being operated in violation of any provision of
the laws of this state, or that such branch is being operated in an unsafe and unsound manner,
the superintendent shall have the authority to take all such enforcement actions as he or
she would be empowered to take if the branch were an Alabama state bank; provided that the
superintendent shall promptly give notice to the home state regulator of each enforcement
action taken against an out-of-state state bank and, to the extent practicable, shall consult
and cooperate with the home state regulator in pursuing and resolving the enforcement action.
(Acts 1995, No. 95-115, p. 134, §19.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-13B-27.htm - 1K - Match Info - Similar pages
5-13B-26
Section 5-13B-26 Examinations; periodic reports; cooperative agreements; assessment of fees.
(a) To the extent consistent with subsection (c), the superintendent may make such examinations
of any branch established and maintained in this state pursuant to this article by an out-of-state
state bank as the superintendent may deem necessary to determine whether the branch is being
operated in compliance with the laws of this state and in accordance with safe and sound banking
practices. The provisions of Chapter 3A, Title 5, shall apply to such examinations. (b) The
superintendent may prescribe requirements for periodic reports regarding any out-of-state
bank that operates a branch in Alabama pursuant to this article. The required reports shall
be provided by such bank or by the bank supervisory agency having primary responsibility for
such bank. Any reporting requirements prescribed by the superintendent under this subsection
shall be (1) consistent with the reporting requirements...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-13B-26.htm - 3K - Match Info - Similar pages
5-13B-10
Section 5-13B-10 Penalties. The superintendent may enforce the provisions of this article by
any appropriate action in the circuit courts of this state, including an action for civil
money penalties or injunctive relief, provided, that the superintendent shall promptly give
notice to the home state regulator of any enforcement action initiated against an out-of-state
bank holding company and, to the extent practicable, shall consult and cooperate with the
home state regulator in pursuing and resolving the enforcement action. (Acts 1995, No. 95-115,
p. 134, §10.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-13B-10.htm - 876 bytes - Match Info - Similar pages
5-13B-11
Section 5-13B-11 Authority to issue regulations; cooperative agreements; fees. In order to
carry out the purposes of this title, in addition to and cumulative with the authority and
powers of the superintendent set forth elsewhere in this title, the superintendent may: (1)
Adopt regulations; (2) Enter into cooperative, coordinating, or information-sharing agreements
with any other bank supervisory agency or any organization affiliated with or representing
one or more bank supervisory agencies; (3) Accept any report of examination or investigation
by another bank supervisory agency having concurrent jurisdiction over an Alabama state bank
or a bank holding company that controls an Alabama state bank in lieu of conducting the superintendent's
own examination or investigation of such bank holding company or bank; (4) Enter into contracts
with any bank supervisory agency having concurrent jurisdiction over an Alabama state bank
or a bank holding company that controls an Alabama state bank...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-13B-11.htm - 3K - Match Info - Similar pages
5-13B-8
Section 5-13B-8 Reports; examinations. (a) To the extent specified by the superintendent by
regulation, order, or written request, each bank holding company that directly or indirectly
controls an Alabama state bank or an Alabama bank holding company, or the home state regulator
of such company, shall submit to the superintendent: (1) One or more copies of each financial
report filed by such company with any bank supervisory agency, except for any report the disclosure
of which would be prohibited by applicable federal or state law, within 15 days after the
filing thereof with such agency; and (2) An annual report, not later than April 15 of each
year for each bank and branch in the state controlled by the bank holding company containing
the following information: a. The location; b. The amount of deposits held as of the end of
the preceding calendar year; and c. The amount of loans made during the preceding calendar
year to individuals and entities with addresses in this state. (b) At...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-13B-8.htm - 2K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-13B-103.htm - 3K - Match Info - Similar pages
5-13B-23
Section 5-13B-23 Interstate merger transactions and branching; operation of branches. (a) One
or more Alabama state banks may enter into an interstate merger transaction with one or more
out-of-state banks under this article, and an out-of-state bank resulting from such transaction
may maintain and operate the branches in Alabama of an Alabama state bank that participated
in such transaction, provided that the conditions and filing requirements of this article
are met. (b) Except as otherwise expressly provided in this subsection, an interstate merger
transaction, establishment of a de novo branch, or acquisition of a branch shall not be permitted
under this article if, upon consummation of such transaction, the out-of-state bank, including
all insured depository institutions that would be "affiliates" as defined in 12
U.S.C. §1841(k) of the out-of-state bank, would control 30 percent or more of the total amount
of deposits held by all insured depository institutions in this state....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-13B-23.htm - 4K - Match Info - Similar pages
5-13B-21
Section 5-13B-21 Definitions. As used in this article, unless a different meaning is required
by the context, the following words and phrases shall have the following meanings: (a) "Alabama
bank" means a bank whose home state is Alabama. (b) "Alabama state bank" means
a bank chartered under the laws of Alabama. (c) "Bank" has the same meaning as set
forth in 12 U.S.C. §1813(h); provided that the term "bank" shall not include any
"foreign bank" as defined in 12 U.S.C. §3101(7), except that such term shall include
any foreign bank organized under the laws of a territory of the United States, Puerto Rico,
Guam, American Samoa, or the Virgin Islands, the deposits of which are insured by the Federal
Deposit Insurance Corporation. (d) "Bank holding company" has the meaning set forth
in 12 U.S.C. §1841(a) (1). (e) "Bank supervisory agency" means: (1) The Office
of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Board of
Governors of the Federal Reserve...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-13B-21.htm - 3K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-13B-2.htm - 4K - Match Info - Similar pages
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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