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5-13B-5
Section 5-13B-5 Required application. (a) A company that proposes to make an acquisition
under this article shall: (1) File with the superintendent a copy of the application that
such company has filed with the responsible federal bank supervisory agency together with
such additional information as the superintendent may prescribe; and (2) Pay to the superintendent
the application fee, if any, prescribed by the superintendent. (b) To the extent consistent
with the effective discharge of the superintendent's responsibilities, the forms established
under this article for application and reporting shall conform to those established by the
Board of Governors of the Federal Reserve System under the Bank Holding Company Act. (c) In
connection with an application received under this article, the superintendent shall require
that prior notice of the application be published one time in a daily newspaper of general
circulation and provide an opportunity for public comment. (d) If the applicant...
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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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5-7A-62
Section 5-7A-62 Application to convert charter; written plan of conversion; authorizing
resolution; submission to superintendent; fee; tentative approval; vote of stockholders or
members; directors; articles of incorporation and bylaws; statement of superintendent's objections;
amendment; appeal of disapproval; application to FDIC; final approval and permit. Any savings
institution may apply to the superintendent for permission to convert its charter in order
to do business as a state chartered bank in accordance with the following procedures: (1)
The board of directors shall approve a written plan of conversion, the application for conversion
and shall adopt an authorizing resolution, all by a vote of a majority of all the directors.
The plan of conversion shall include a statement of: a. The proposed organization and management
structure of the resulting bank if the application were approved, and the proposed name under
which it would do business as a bank; b. The method and time...
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5-5A-44
Section 5-5A-44 Acquisition of majority of voting shares of a bank; procedure. (a) No
person, acting directly or indirectly or through or in concert with one or more persons, may
acquire control of a state bank or of any corporation or other entity having control of a
state bank, unless an application is filed with the superintendent for review of the proposed
transaction and for his or her action, if any, as provided in this section. (b) The
application shall be on a form prescribed by the superintendent and shall be made under oath.
The application must contain all information that the superintendent by regulation requires
to be furnished in an application, as well as any information that the superintendent orders
to be included in the particular application being filed and shall be accompanied by the filing
fee prescribed by the Banking Board. For the purposes of this section, the Banking
Board may reduce or waive any prescribed fees for applications where a change of control...
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27-19-105
Section 27-19-105 Regulations for long-term care policies; outline of coverage, policy
summary, and monthly report. (a) The commissioner may adopt regulations that include standards
for full and fair disclosure setting forth the manner, content, and required disclosures for
the sale of long-term care insurance policies, terms of renewability, initial and subsequent
conditions of eligibility, nonduplication of coverage provisions, coverage of dependents,
preexisting conditions, termination of insurance, continuation or conversion, probationary
periods, limitations, exceptions, reductions, elimination periods, requirements for replacement,
recurrent conditions, and definitions of terms. Regulations under this subsection should recognize
the developing and unique nature of long-term care insurance and the distinction between group
and individual long-term insurance policies. (b) No long-term care insurance policy may do
any of the following: (1) Be cancelled, nonrenewed, or otherwise...
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27-61-1
Section 27-61-1 Surplus Lines Insurance Multi-State Compliance Compact. The Surplus
Lines Insurance Multi-State Compliance Compact Act is enacted into law and entered into with
all jurisdictions mutually adopting the compact in the form substantially as follows: PREAMBLE
WHEREAS, with regard to Non-Admitted Insurance policies with risk exposures located in multiple
states, the 111th United States Congress has stipulated in Title V, Subtitle B, the Non-Admitted
and Reinsurance Reform Act of 2010, of the Dodd-Frank Wall Street Reform and Consumer Protection
Act, hereafter, the NRRA, that: (A) The placement of Non-Admitted Insurance shall be subject
to the statutory and regulatory requirements solely of the insured's Home State, and (B) Any
law, regulation, provision, or action of any State that applies or purports to apply to Non-Admitted
Insurance sold to, solicited by, or negotiated with an insured whose Home State is another
State shall be preempted with respect to such application;...
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5-13B-6
Section 5-13B-6 Standards for approval. (a) In deciding whether to approve an application
for a proposed acquisition under this article, the superintendent shall consider whether the
acquisition may: (1) Be detrimental to the safety and soundness of the Alabama state bank
or the Alabama bank holding company ; (2) Result in a substantial reduction of competition
in this state; or (3) Have a significantly adverse effect on the convenience and needs of
the community or communities in this state that are served by the Alabama state bank or the
Alabama bank holding company to be acquired. (b) Except as otherwise expressly provided in
this section, the superintendent shall not approve an acquisition under this article
if upon consummation of the transaction the applicant, including any depository institution
affiliated with the applicant, would control 30 percent or more of the total amount of deposits
held by depository institutions in this state. (c) The superintendent may by regulation,...
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5-13B-41
Section 5-13B-41 Definitions. For purposes of this article: (a) The term "bank"
means any bank as defined in: Section 2(c) of the Bank Holding Company Act (12 U.S.C.
§1841(c)); Section 3(a)(1) of the Federal Deposit Insurance Act (12 U.S.C. §1813(a)(1)),
other than a branch of a foreign bank; or, as the context may require, in Chapter 5A, Title
5. The term "bank" as used in this article shall not in any event include a foreign
bank or a branch or agency of a foreign bank. (b) The term "foreign bank" means
any company organized under the laws of a foreign country, a territory of the United States,
Puerto Rico, Guam, American Samoa, or the Virgin Islands, that engages directly in the business
of banking. The term includes foreign commercial banks, foreign merchant banks, and other
foreign institutions that engage in banking activities usual in connection with the business
of banking in the countries where such foreign institutions are organized or operating. (c)
The term "out-of-state...
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34-27A-51
Section 34-27A-51 Application; certificate of registration. (a) Application for registration
under this article shall be made in writing to the board on forms prescribed by the board
and shall include all of the following: (1) The name of the applicant. (2) The business, physical,
and email address of the applicant. (3) A telephone number and other contact information for
the applicant. (4) If the applicant is a not an Alabama domestic corporation, the name and
contact information for the registered agent of the applicant for service of process in this
state. (5) The name, address, and contact information of a principal contact for the applicant.
(6) Certification that the applicant verifies that any person added to an appraiser panel
of the applicant, for the purpose of appraising property within the state, holds a license
in good standing in this state pursuant to Article 1. (7) Certification that the applicant
requires that all appraisers shall have geographic competency to perform...
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8-6-3
Section 8-6-3 Registration and bonds of dealers, agents, investment advisers, etc. (a)
It is unlawful for any person to transact business in this state as a dealer or agent for
securities unless he or she is registered under this article. It is unlawful for any dealer
or issuer to employ an agent unless the agent is registered. (b) It is unlawful for any person
to transact business in this state as an investment adviser or as an investment adviser representative
unless: (1) He or she is so registered under this article; (2) His or her only clients in
this state are investment companies as defined in the Investment Company Act of 1940, other
investment advisers, broker-dealers, banks, trust companies, savings and loan associations,
insurance companies, employee benefit plans with assets of not less than $1,000,000, and governmental
agencies or instrumentalities, whether acting for themselves or as trustees with investment
control, or other institutional investors as are designated by...
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