5-13B-114
Section 5-13B-114 Immediate suspension or revocation. 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 maintain an Alabama state branch or Alabama state agency and that it is necessary
for the protection of the interests of creditors of the foreign bank's business in this state
or, in any case, for the protection of the public interest that the superintendent immediately
suspend or revoke the license of the foreign bank, the superintendent may issue, without notice
or hearing, an order suspending or revoking the license of the foreign bank for a period of
up to 90 days, pending investigation or hearing. (Acts 1995, No. 95-115, p. 134, §62.)...

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5-13B-111
Section 5-13B-111 Asset maintenance. (a) Each foreign bank which is licensed to establish and
maintain an Alabama state branch or Alabama state agency shall hold in this state currency,
bonds, notes, debentures, drafts, bills of exchange, or other evidences of indebtedness, including
loan participation agreements or certificates, or other obligations payable in the United
States or in United States funds or, with the prior approval of the superintendent, in funds
freely convertible into United States funds, or such other assets as the superintendent shall
by regulation or order permit, in an amount which shall bear such relationship as the superintendent
shall by regulation or order prescribe to liabilities of such foreign bank payable at or through
its Alabama state branch or Alabama state agency, including acceptances, but excluding amounts
due and other liabilities to other offices, agencies, or branches of, and wholly owned, except
for a nominal number of directors' shares,...
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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...
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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...
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5-13B-87
Section 5-13B-87 Fiduciary activities. (a) No foreign bank which is licensed to establish and
maintain an Alabama state branch or Alabama state agency shall engage in fiduciary activities
at such office unless such foreign bank shall have first obtained a certificate of authority
from the superintendent to engage in fiduciary activities at such office. (b) An application
to obtain a certificate of authority to engage in fiduciary activities shall be in such form
and contain such information, and be accompanied by such reasonable fee, as the superintendent
may require by regulation. The superintendent shall issue a certificate of authority to engage
in fiduciary activities to a foreign bank making an application under this section if he or
she finds that such foreign bank will exercise fiduciary powers in accordance with the laws
and regulations of this state. (c) A foreign bank which holds a certificate of authority issued
under this section may engage at its Alabama state branch or...
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5-5A-18.1
Section 5-5A-18.1 Banks and trust companies to have power of federally chartered or regulated
financial institution. In addition to all other rights and powers provided under this title,
banks and trust companies chartered by this state and supervised by the superintendent and
banks or trust companies chartered by any other state which are doing business or proposing
to conduct any bank or trust company activities in this state and each of their subsidiaries,
subject to the prior approval of the superintendent, may make any loan or investment , exercise
any power, and engage in any activity which they could make , exercise, or engage in if incorporated
or operating as a federally chartered or regulated financial institution and they shall be
entitled to all rights, privileges, and protections granted or available to federally chartered
or regulated financial institutions. In addition to other conditions determined at the superintendent's
discretion, any approval granted under this...
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8-6-10
Section 8-6-10 Registration of securities - Exempt securities. Sections 8-6-4 through 8-6-9
shall not apply to any of the following securities: (1) Any security, including a revenue
obligation, issued or guaranteed by the United States, any state, any political subdivision
of a state, any agency, corporate, or other instrumentality of one or more of the foregoing;
or any certificate of deposit for any of the foregoing. (2) Any security issued or guaranteed
by Canada, any Canadian province, any political subdivision of any province, any agency, corporate,
or other instrumentality of one or more of the foregoing or any other foreign government with
which the United States currently maintains diplomatic relations if the security is recognized
as a valid obligation by the issuer or guarantor. (3) Any security issued by and representing
an interest in or a debt of, or guaranteed by, any bank organized under the laws of the United
States or any bank, savings institution, or trust company...
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5-13B-113
Section 5-13B-113 Suspension or revocation of license; factors. If, after notice and a hearing,
the superintendent finds any of the following with respect to a foreign bank which is licensed
to establish and maintain an Alabama state branch or Alabama state agency, he or she may issue
an order suspending or revoking the license of such foreign bank: (1) That the foreign bank
has violated any provision of this article or of any regulation or order issued under this
article or any provision of any other applicable law, regulation, or order; (2) That the foreign
bank is transacting activities in this state in an unsafe or unsound manner or, in any case,
is transacting activities elsewhere in an unsafe or unsound manner; (3) That the foreign bank
or any one or more of its Alabama state branches or Alabama state agencies is in an unsafe
or unsound condition; (4) That the foreign bank has ceased to operate any of its offices in
this state without the prior approval of the superintendent in...
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5-13B-86
Section 5-13B-86 Powers of branch and agency. (a) Except as otherwise specifically provided
in this division or in regulations or orders adopted by the superintendent, and notwithstanding
any other law or regulation of this state to the contrary, operations of a foreign bank at
an Alabama state branch or Alabama state agency shall be conducted with the same rights, privileges,
and powers as an Alabama state bank at the same location, including, but not limited to, the
eligibility to exercise fiduciary or trust powers, and shall be subject to all the same duties,
restrictions, penalties, liabilities, conditions, and limitations that would apply under the
laws of this state to an Alabama state bank doing business at the same location. (b) Among
other exceptions to the provisions of subsection (a) that may be required or authorized by
the superintendent pursuant to the provisions of this division: (1) An Alabama state branch
that was not grandfathered as an "insured branch" within the...
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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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