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5-13B-115
Section 5-13B-115 Seizure of foreign bank's property and business; liquidation. (a) If the
superintendent finds that any of the factors set forth in Section 5-13B-113 are true with
respect to any foreign bank which is licensed to establish and maintain an Alabama state branch
or Alabama state agency and that it is necessary for the protection of the interests of the
creditors of such foreign bank's business in this state or for the protection of the public
interest that he or she take immediate possession of the property and business of the foreign
bank, the superintendent may by order forthwith take possession of the property and business
of the foreign bank in this state and retain possession until the foreign bank resumes business
in this state or is finally liquidated. The foreign bank may, with the consent of the superintendent,
resume business in this state upon such conditions as the superintendent may prescribe by
regulation or order. (b) At any time within 10 days after the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-13B-115.htm - 3K - Match Info - Similar pages
5-17-22
Section 5-17-22 Merger and conversion procedures. Any credit union, with the approval of the
Administrator of the Alabama Credit Union Administration, may merge with another credit union,
under the existing certificate of organization of the other credit union, pursuant to any
plan agreed upon by the majority of each board of directors of each credit union joining in
the merger. In addition to approval by the administrator and each board of directors, the
membership of the merging credit union must also approve the merger plan in the following
manner: (1) At a meeting called for that purpose, notice of which purpose must be contained
in the call, two-thirds of those voting may vote to approve the merger plan. Voting must be
conducted in accordance with the bylaws of the credit union. The notice must be provided to
the members at least 45 calendar days, but no more than 90 calendar days, prior to the date
of the meeting. (2) After agreement by the directors and approval by the members...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-17-22.htm - 5K - Match Info - Similar pages
9-10-38
Section 9-10-38 Security for bonds. (a) At the discretion of the corporation, any bonds issued
under the provisions of this article may be secured by a trust agreement by and between the
corporation and a corporate trustee, which may be any trust company or bank having the powers
of a trust company within or without the state. The trust agreement or the resolution providing
for the issuance of such bonds, subject to the provisions of Section 9-10-35, may pledge or
assign tolls, rentals, sales receipts or other revenues to which the corporation's right then
exists or which may thereafter come into existence and the moneys derived therefrom and the
proceeds of such bonds; provided, however, that the trust agreement or resolution shall not
convey or mortgage any project or any part thereof. (b) Such trust agreement or resolution
providing for the issuance of bonds may contain such provisions for protecting and enforcing
the rights and remedies of the bondholders as may be reasonable and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/9-10-38.htm - 4K - Match Info - Similar pages
23-2-149
Section 23-2-149 Trust agreements securing bond issues; authorized provisions protecting holders;
pledge of revenues. In the discretion of the authority, any bonds issued under the provisions
of this article may be secured by a trust agreement by and between the authority and a corporate
trustee, which may be any trust company, or bank having the powers of a trust company, within
or without the state. The trust agreement or the resolution providing for the issuance of
such bonds subject to the provisions of Section 23-2-147, may pledge or assign tolls or other
revenues to which the authority's right then exists or which may thereafter come into existence,
and the moneys derived therefrom, and the proceeds of such bonds; provided, however, that
the trust agreement or resolution shall not convey or mortgage any toll road, bridge or tunnel
project or any part thereof. Such trust agreement or resolution providing for the issuance
of bonds may contain such provisions for protecting and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-2-149.htm - 4K - Match Info - Similar pages
37-2-4.1
Section 37-2-4.1 Owners of land proposed to be acquired by utility or telephone company to
be given notice of filing of application for certificate of convenience and necessity. Any
utility or telephone company that is required to obtain a certificate of convenience and necessity
under Section 37-2-4 or Section 37-4-28 from the Alabama Public Service Commission for the
construction or operation of any facility must give notice of the filing of such application
with said commission to the reasonably identifiable owners of all lands which are proposed
to be acquired for such construction or operation for which the certificate of convenience
and necessity is sought; except, that such notice requirement shall not apply to the acquisition
of lands or interest in lands for utility or telephone transmission or distribution lines
or to the purchase, lease or other acquisition of an existing utility or telephone system.
Such notice must be given in writing, and proof of service thereof must be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-2-4.1.htm - 1K - Match Info - Similar pages
5-13B-110
Section 5-13B-110 Pledge of assets. (a) Each foreign bank which is licensed to establish and
maintain an Alabama state branch or Alabama state agency shall keep on deposit, in accordance
with such regulations or orders as the superintendent shall promulgate, with such unaffiliated
Alabama banks as such foreign bank may designate and the superintendent may approve, interest-bearing
stocks and bonds, notes, debentures, or other obligations of the United States or any agency
or instrumentality thereof, or guaranteed by the United States, or of this state, or of a
city, county, town, village, school district, or instrumentality of this state or guaranteed
by this state, or dollar deposits, or obligations of the International Bank for Reconstruction
and Development, or obligations issued by the InterAmerican Development Bank, or obligations
of the Asian Development Bank, or obligations issued by the African Development Bank, or such
other assets as the superintendent shall by regulation or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-13B-110.htm - 2K - Match Info - Similar pages
5-7A-61
Section 5-7A-61 Definitions. As used in this article, the following terms shall have the following
meanings, respectively, unless the context clearly indicates otherwise: (1) SAVINGS INSTITUTION.
A savings and loan association or savings bank organized under the laws of this state or organized
under the laws of the United States and having its principal place of business in this state,
whether a "capital stock saving institution" which is authorized to issue capital
stock, or a "mutual savings institution," shares of which are owned by its members.
(2) RESULTING BANK. The state chartered bank that results from conversion of a savings institution
to a state chartered bank pursuant to this article. (3) SUPERINTENDENT. The Superintendent
of Banks for the State of Alabama. (4) STATE CHARTERED BANK. A bank the same as if such bank
were incorporated, chartered and permitted to do business, all as provided in Section 5-5A-1
et seq. (5) PLAN OF CONVERSION. That written document containing all...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-7A-61.htm - 1K - Match Info - Similar pages
9-12-232
Section 9-12-232 Commercial gill net permits - Acquisition and retirement. (a) The Department
of Conservation and Natural Resources shall establish and administer a voluntary program to
acquire and retire commercial gill net permits of saltwater commercial fishermen issued pursuant
to Section 9-12-113. (b) Each resident Alabama saltwater commercial fisherman who possesses
a valid Alabama permit June 1, 2008, and any nonresident commercial fisherman who has held
a commercial gill net license for 25 years or more without a fishing violation who possesses
a valid Alabama permit on June 1, 2008, may surrender his or her license on or before March
1, 2009. (c) Upon surrender of the license, the following shall apply: (1) If the total income
of the license holder from dockside value of finfish harvested and landed in Alabama using
gill nets in the last three years was less than five thousand dollars ($5,000), the licensee
shall receive a payment from the Department of Conservation and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/9-12-232.htm - 4K - Match Info - Similar pages
11-50-346
Section 11-50-346 Execution of trust agreement as security for payment of revenue bonds authorized;
provisions in trust agreements or resolutions for issuance of bonds generally. In the discretion
of the board, any revenue bonds issued under the provisions of this article may be secured
by a trust agreement by and between the board and a corporate trustee, which may be any trust
company or bank having the powers of a trust company within or without the state. Such trust
agreement or resolution providing for the issuance of such bonds may pledge or assign the
revenues to be received, but shall not convey or mortgage any water system or sewer system
or any part thereof. Such trust agreement or resolution providing for the issuance of such
bonds may contain such provisions for protecting and enforcing the rights and remedies of
the bondholders as may be reasonable and proper and not in violation of law, including covenants
setting forth the duties of the board in relation to the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50-346.htm - 3K - Match Info - Similar pages
19-4-21
Section 19-4-21 Holding in bulk of securities constituting assets of different fiduciary accounts
authorized; registration of securities; maintenance of records as to fiduciary accounts; rules
and regulations governing banks; certification of securities held for fiduciary accounts.
(a) Notwithstanding any other provision of law to the contrary, any bank holding securities
as a fiduciary, as a cofiduciary or as a custodian or agent for another fiduciary or fiduciaries
is authorized, in the absence of specific provision to the contrary in the governing instrument
or court order under which the bank is acting, to hold such securities in a manner such that,
without certification as to ownership attached, certificates representing securities of the
same class of the same issuer and from time to time constituting assets of different fiduciary
accounts are held in bulk, including, to the extent feasible, the merging of certificates
of smaller denominations into one or more certificates of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-4-21.htm - 2K - Match Info - Similar pages
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