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.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-8A-1.htm - 1K - Match Info - Similar pages
45-46-40
Section 45-46-40 Branch banking. Any bank whose principal place of business is situated in Marengo County, Alabama, may establish, maintain, and operate within the limits of Marengo County one or more branches, or additional offices or places of business, for the receipt of deposits, payment of checks, lending of money, and the doing of general banking business, provided that such bank before the establishment of such branch, or additional office or place of business, shall first secure the written consent thereto of the Superintendent of Banks of the State of Alabama. (Acts 1967, No. 497, p. 1207, § 1; Act 85-133, p. 204, § 1.)...
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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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-5A-18.1.htm - 3K - Match Info - Similar pages
5-13B-2
Section 5-13B-2 Definitions. For purposes of this article: (a) "Acquire" means: (1) For a company to merge or consolidate with a bank holding company; (2) For a company to assume direct or indirect ownership or control of: (I) More than 25 percent of any class of voting shares of a bank holding company or a bank, if the acquiring company was not a bank holding company prior to such acquisition; (II) More than five percent of any class of voting shares of a bank holding company or a bank, if the acquiring company was a bank holding company prior to such acquisition; or (III) All or substantially all of the assets of a bank holding company or a bank; or (3) For a company to take any other action that results in the direct or indirect acquisition of control by such company of a bank holding company or a bank; however, formation of a de novo bank pursuant to Chapter 5A of this title is not an acquisition for purposes of this article. (b) "Affiliate" has the meaning set forth in Section...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-13B-2.htm - 4K - Match Info - Similar pages
22-32-1
Section 22-32-1 Enactment of Southeast Interstate Low-Level Radioactive Waste Management Compact. The Southeast Interstate Low-Level Radioactive Waste Management Compact is hereby enacted into law and entered into by the State of Alabama with any and all states legally joining therein in accordance with its terms, in the form substantially as follows: SOUTHEAST INTERSTATE LOW-LEVEL RADIOACTIVE WASTE MANAGEMENT COMPACT Article I. Policy and Purpose There is hereby created the Southeast Interstate Low-Level Radioactive Waste Management Compact. The party states recognize and declare that each state is responsible for providing for the availability of capacity either within or outside the state for the disposal of low-level radioactive waste generated within its borders, except for waste generated as a result of defense activities of the federal government or federal research and development activities. They also recognize that the management of low-level radioactive waste is handled most...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-32-1.htm - 31K - Match Info - Similar pages
27-31C-4
Section 27-31C-4 Issuance of license - Requirements. (a)(1) The commissioner may not issue a license to an Alabama Coastal Captive Insurance Company unless the company possesses and maintains unimpaired paid-in capital of not less than one million dollars ($1,000,000); however, in the case of an Alabama Coastal Captive Insurance Company formed as a sponsored captive insurance company that does not assume any risk, where the risks insured by the protected cells are homogenous, the commissioner may reduce this amount to an amount not less than five hundred thousand dollars ($500,000). (2) a. Except for an Alabama Coastal Captive Insurance Company formed as a sponsored captive insurance company that does not assume any risk, the capital must be in the form of cash, cash equivalent, or an irrevocable letter of credit issued by a bank chartered by this state or a member bank of the Federal Reserve System with a branch office in this state or as approved by the commissioner. b. For an...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31C-4.htm - 3K - Match Info - Similar pages
16-22-9
Section 16-22-9 Educational authority sick leave bank plans. (a) The following terms shall have the following meanings, respectively: (1) CATASTROPHIC ILLNESS. Any illness, injury, or pregnancy or medical condition related to childbirth, certified by a licensed physician which causes the employee to be absent from work for an extended period of time. (2) CHIEF EXECUTIVE OFFICER. The superintendent of any public county or city school system; the President of the Alabama Institute for Deaf and Blind; the president of any two-year school or college under the auspices of the State Board of Education; the President of Alabama Agricultural and Mechanical University; the Superintendent of the Department of Youth Services School District; the Executive Director of the Alabama School of Fine Arts; and the Executive Director of the Alabama High School of Mathematics and Science. (3) EDUCATIONAL AUTHORITY or AUTHORITY or BOARD. Each city and county board of education; the Board of Trustees of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-22-9.htm - 9K - Match Info - Similar pages
39-2-12
Section 39-2-12 Partial and final payments of contractors by awarding authorities. (a) As used in this section the following words shall have the meanings ascribed to them as follows: (1) CONTRACTOR. Any natural person, partnership, company, firm, corporation, association, limited liability company, cooperative, or other legal entity licensed by the Alabama State Licensing Board for General Contractors. (2) NONRESIDENT CONTRACTOR. A contractor which is neither a. organized and existing under the laws of the State of Alabama, nor b. maintains its principal place of business in the State of Alabama. A nonresident contractor which has maintained a permanent branch office within the State of Alabama for at least five continuous years shall not thereafter be deemed to be a nonresident contractor so long as the contractor continues to maintain a branch office within Alabama. (3) RETAINAGE. That money belonging to the contractor which has been retained by the awarding authority conditioned on...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/39-2-12.htm - 18K - Match Info - Similar pages
24-9-5
Section 24-9-5 Alabama Land Bank Authority Board. (a) There is created the Alabama Land Bank Authority Board which shall govern the authority to administer and enforce this chapter. (b) The board shall consist of the following members: (1) Four residents of the state appointed by the Governor. (2) Two representatives from nonprofit organizations engaged in low-income housing appointed by the Governor. (3) The Presiding Officer of the Senate or his or her designee. (4) The Speaker of the House of Representatives or his or her designee. (5) The Chair of the Senate Finance and Taxation General Fund Committee or his or her designee. (6) The Chair of the House Ways and Means General Fund Committee or his or her designee. (7) The State Revenue Commissioner or his or her designee. (8) The Superintendent of the State Banking Department or his or her designee. (9) The Director of the Alabama Department of Economic and Community Affairs or his or her designee. (10) The Secretary of the Alabama...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/24-9-5.htm - 4K - Match Info - Similar pages
27-27-29
Section 27-27-29 Principal place of business and home office of domestic insurers; maintenance of assets in state; removal of records or assets; exceptions. (a) Every domestic insurer shall have, and maintain, its principal place of business and home office in this state and shall keep in this state complete records of its assets, transactions, and affairs in accordance with such methods and systems as are customary or suitable as to the kind, or kinds, of insurance transacted. (b) Every domestic insurer shall have, and maintain, its assets in this state, or in a financial institution conducting business in this state except as to: (1) Real property and personal property appurtenant to the real property lawfully owned by the insurer and located outside this state. (2) The property of the insurer as may be customary, necessary, and convenient to enable and facilitate the operation of its branch offices and regional home offices located outside this state as referred to in subsection...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-27-29.htm - 5K - Match Info - Similar pages
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