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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5-8A-27
Section 5-8A-27 Application by bank for injunction against acquisition of possession of business
and property by receiver or superintendent. Whenever the superintendent or a receiver has
taken charge of the property or business of any bank, such bank may at any time within 10
days after the taking of such possession apply to the receivership court to enjoin further
proceedings by the receiver or superintendent; and the court, after citing the receiver and
superintendent to show cause why further proceedings should not be enjoined and hearing the
allegations and proof of the parties and determining the facts, may, upon the merits, dismiss
such application or enjoin the receiver or superintendent from further proceedings and direct
him to surrender such business and property to such bank. Any such application for injunction
may be heard at any time in the discretion of the receivership court after one day's notice
from the time of service of process on the receiver and superintendent. If...
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5-8A-30
Section 5-8A-30 Collection of claims of bank, etc. Upon taking possession of any of the property
and business of any bank, the receiver may collect moneys due to such bank and do such other
acts as are necessary to conserve its assets and business, and shall proceed to liquidate
the affairs thereof as provided in this chapter. The receiver shall collect all debts due
and claims belonging to the bank, whether in this state or in any other state, and may proceed
in courts of competent jurisdiction to enforce said claims in this state and in other states.
"Claims" shall include any right of action against any surety, fidelity or insurance
company, auditor or any past or present officer or director of such bank for mismanagement,
violations of laws or regulations or other breach of duty. It shall be the duty of the receiver
or his duly authorized agent to satisfy on the proper record all mortgages, judgments, security
interests, or other liens held or owned by any insolvent bank that have...
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27-32-10
Section 27-32-10 Grounds - Ancillary liquidation of foreign insurers. The commissioner may
apply to the court for an order appointing him as ancillary receiver of, and directing him
to liquidate, the business of a foreign insurer having assets, business, or claims in this
state upon the appointment in the domiciliary state of such insurer of a receiver, liquidator,
conservator, rehabilitator, or other officer by whatever name called for the purpose of liquidating
the business of such insurer. (Acts 1971, No. 407, p. 707, §629.)...
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27-32-12
Section 27-32-12 Orders - Liquidation - Domestic insurers. (a) An order to liquidate the business
of a domestic insurer shall direct the commissioner forthwith to take possession of the property
of the insurer, to liquidate its business, to deal with the insurer's property and business
in his own name as Commissioner of Insurance or in the name of the insurer as the court may
direct and to give notice to all creditors who may have claims against the insurer to present
such claims. (b) The commissioner may apply for and secure an order dissolving the corporate
existence of a domestic insurer upon his application for an order of liquidation of such insurer
or at any time after such order has been granted. (Acts 1971, No. 407, p. 707, §631.)...

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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-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-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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5-8A-24
Section 5-8A-24 Appointment of receiver to liquidate bank. The superintendent may under his
or her hand and official seal appoint a receiver to liquidate and distribute the assets of
any bank taken possession of by the superintendent under the provisions of this chapter, the
certificate of appointment to be filed in the office of the superintendent and a certified
copy in the office of the probate judge in the county in which the principal office of such
bank is located. The receiver may be the Federal Deposit Insurance Corporation or any other
agency or corporation created by the United States to act in such capacity or any person selected
by the superintendent; provided, however, no examiner shall be appointed receiver of any bank
whose books, papers, and affairs the examiner shall have examined within one year next preceding
the appointment of such receiver. Any receiver appointed other than the Federal Deposit Insurance
Corporation, or any other agency or corporation created by 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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