5-13B-22
Section 5-13B-22 Establishment of interstate branches by acquisition or merger; branching.
With the prior approval of the superintendent, an Alabama state bank may establish, maintain,
and operate one or more branches in a state other than Alabama or a foreign country on a de
novo basis, by acquisition of a branch, or pursuant to an interstate merger transaction in
which the Alabama state bank is the resulting bank. For an interstate merger transaction and
not later than the date on which the required application for the interstate merger transaction
is filed with the responsible federal bank supervisory agency, the applicant Alabama state
bank shall file an application on a form prescribed by the superintendent and pay the fee
prescribed by the superintendent. The applicant shall also comply with the applicable provisions
of Alabama law governing mergers of Alabama state banks. If the superintendent finds that
(1) the proposed interstate merger transaction will not be detrimental to...
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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...
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5-13B-3
Section 5-13B-3 Scope of article and statement of legislative intent. This article sets
forth the conditions under which a company may acquire an Alabama bank or an Alabama bank
holding company or an Alabama bank holding company may acquire an out-of-state bank or bank
holding company. This article is intended not to discriminate against out-of-state bank holding
companies or against foreign bank holding companies in any manner that would violate Section
3(d) of the Bank Holding Company Act, as amended effective September 29, 1995, by Section
101 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994, Public Law
No. 103-328. (Acts 1995, No. 95-115, p. 134, §3; Act 2010-548, p. 966, §1.)...
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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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5-1A-2
Section 5-1A-2 Definitions. For the purposes of Chapters 1A through 12A of this title,
the following terms shall have the meanings respectively ascribed to them by this section:
(1) BANK. Any banking corporation or trust company organized under the laws of this state
under the jurisdiction of the superintendent of banks of this state or organized under the
laws of the United States having its principal place of business in this state. (2) SUPERINTENDENT.
The Superintendent of Banks of this state. (3) RECEIVERSHIP COURT. The circuit court of the
county in which is located the principal office of a bank in receivership. (4) NATIONAL BANK.
A national banking association organized pursuant to 12 U.S.C. § 21. (5) CAPITAL. The sum
of the par value of the authorized shares of a bank which have been issued and remain outstanding.
(6) SURPLUS. The aggregate of the amounts transferred to surplus pursuant to Section
5-5A-21 and any amounts subsequently designated as such by action of the board...
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5-3A-4
Section 5-3A-4 Expenses of special examinations. The expenses incidental to any special
examination of banks, bank holding companies, or their affiliates shall be borne by the bank
or bank holding company so examined, and such bank or bank holding company shall, on the call
of the superintendent, pay into the Treasury of Alabama, earmarked for the use of the Banking
Department, within 10 days after said examination, an amount not exceeding the actual expenses
of such examination, including per diem, travel expenses and the pro rata portion of the salaries
of the state employees engaged in making such examination. (Acts 1980, No. 80-658, §5-3-4;
Act 2011-589, p. 1306, §1.)...
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5-8A-23
Section 5-8A-23 Acquisition of possession of property and business of bank by superintendent;
notice to holders of bank assets. The superintendent shall not take possession of the property
and business of any bank under the provisions of this chapter unless requested in writing
to do so by a majority of the directors of the bank under Section 5-8A-21 or directed
to do so by the Banking Board under Section 5-8A-20. On taking possession of the property
and business of any such bank, the superintendent shall give notice of such fact to all banks
in this state and other parties or corporations known to be holding or in possession of any
assets of such bank. (Acts 1980, No. 80-658, §5-8-23.)...
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5-13B-112
Section 5-13B-112 Voluntary closure of branch, agency, or representative office - Application.
(a) No foreign bank which is licensed to establish and maintain an Alabama state branch, Alabama
state agency, or Alabama representative office shall close such office without filing an application
with, and obtaining the prior approval of, the superintendent. An application by a foreign
bank under this section shall be in such form and include such information as the superintendent
shall establish by regulation or order. (b) If the superintendent finds, with respect to an
application by a foreign bank under this section, that the closing of such office will
not be substantially detrimental to the public convenience and advantage, the superintendent
shall approve such application. If the superintendent finds otherwise, he or she shall deny
the application. (c) Whenever an application by a foreign bank under this section has
been approved and all conditions precedent to such closing have been...
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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-80
Section 5-13B-80 Purpose. Consistent with the federal International Banking Act, the
Bank Holding Company Act, the Federal Deposit Insurance Act, and the Interstate Banking and
Branching Efficiency Act, this division is intended: (1) To authorize banking activities and
operations, under state licenses issued by the superintendent, of direct branch and agency
offices in this state of foreign banks, generally under terms and conditions not less favorable
than the terms and conditions under which such activities and operations may be conducted
by federal branch or agency offices of foreign banks in the United States, and to set forth
a statutory framework for the licensing, regulation, and supervision of such state-licensed
offices of foreign banks by the superintendent to assure the safe and sound operation of such
offices that are licensed under the laws of this state; and (2) To authorize representative
offices in this state of foreign banks, and to set forth statutory provisions...
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