5-2A-62
Section 5-2A-62 Supervisory powers of commissioner generally; approvals, etc., by commissioner;
permits required of savings and loan associations. (a) The commissioner shall have general
supervision over all associations and corporations which are subject to the provisions of
Chapter 16 of this title. He shall enforce the purposes of Chapter 16 of this title by use
of the powers therein conferred and by reference to the courts when required. (b) Every approval
by the commissioner given pursuant to the provisions of Chapter 16 of this title and every
communication having the effect of an order or instruction to any association shall be in
writing, signed by the commissioner under the seal of his office and shall be mailed by registered
or certified mail to the association affected thereby, addressed to the president thereof
at the home office of the association, and unless the association to which any approval or
order is directed is an association having its accounts insured by a...
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5-5A-1
Section 5-5A-1 Procedure for incorporation - Application for permit. (a) The proposed incorporators
of a bank shall execute and acknowledge an application for a permit in writing in the form
prescribed by the superintendent and shall file the same in the office of the State Banking
Department, which application shall be signed by all of the incorporators requesting a certificate
authorizing the proposed bank to transact business at the place, time and under the name stated
in said application. (b) At the time of filing said application, the applicant shall pay to
the superintendent a filing fee. (c) The application shall name at a minimum five directors,
and a majority of all directors shall be outside directors unless a written waiver is obtained
from the superintendent. A director shall be deemed to be an outside director if the director
will not serve as an officer, other than the chair, or an employee of the bank. (d) The application
shall name a chair, chief executive officer, a...
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8-1-3
Section 8-1-3 Receipt or acknowledgment for collateral required. (a) All banking, insurance
and other corporations, private bankers, brokers and other persons engaged in the business
of making discounts or lending money, or taking or receiving a collateral for a loan or discount,
must give to the borrower, or to his agent or attorney, if demanded, a receipt or acknowledgment
in writing designating or describing the collateral taken or received and stating the character
of the debt, the time of its maturity and amount for the payment of which such collateral
is intended as security. (b) If negotiable bonds are taken or received as collateral, the
receipt or acknowledgment must state the series number thereof if such bonds are numbered.
(Code 1886, §1785; Code 1896, §946; Code 1907, §3301; Code 1923, §6743; Code 1940, T.
9, §9.)...
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11-97-20
Section 11-97-20 Exemption from competitive bid laws. Any corporation and all contracts made
by it shall be exempt from the laws of the state requiring competitive bids for any contract
to be entered into by counties, municipalities, public corporations, or other instrumentalities
authorized by them, including, but without limitation to, the provisions of Article 3 of Chapter
16 of Title 41. Further, all contracts, whether or not involving any corporation as a party
thereto, which relate to the design, construction, acquisition, financing, or operation of
any facilities that are financed, in whole or in part, by any corporation pursuant to the
provisions of this chapter (including, without limitation, utility services agreements and
contracts for the design, construction, and equipment of such facilities) shall be exempt
from (1) such laws requiring competitive bids for any contract to be entered into by counties,
municipalities, public corporations, or other instrumentalities...
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37-6-26
Section 37-6-26 Foreign corporations. Any corporation or association organized under generally
similar laws of another state shall be allowed to carry on any proper activities, operations
and functions in this state upon compliance with the general regulations applicable to foreign
corporations desiring to do business in this state. In its activities, operations and functions
in this state, such corporation or association shall be subject to the provisions of this
chapter. (Acts 1939, No. 231, p. 371; Code 1940, T. 18, §56.)...
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37-7-1
Section 37-7-1 Definitions. The following terms, whenever used or referred to in this chapter,
shall have the following meanings, unless a different meaning clearly appears from the context:
(1) CORPORATION. A corporation formed under this chapter. (2) MUNICIPALITY. Any county, city
or town of this state. (3) PERSON or INHABITANT. Such term includes natural persons, firms,
associations, corporations, business trusts, partnerships and bodies politic. (4) ENERGY.
Such term includes any and all electric energy no matter how generated or produced. (5) SYSTEM.
Such term includes any plant, works, system, facilities or properties, together with all parts
thereof and appurtenances thereto, used or useful in the generation, production, transmission
or distribution of energy. (6) BONDS. Such term includes negotiable bonds, interim certificates
or receipts, notes, debentures and all other evidences of indebtedness either issued or the
payment thereof assumed by a corporation. (7) LAW. Any act or...
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37-7-20
Section 37-7-20 Foreign corporations. Any corporation or association organized under generally
similar laws of another state shall be allowed to carry on any proper activities, operations
and functions in this state upon compliance with the general regulations applicable to foreign
corporations desiring to do business in this state. In its activities, operations and functions
in this state, such corporation or association shall be subject to the provisions of this
chapter. (Acts 1935, No. 168, p. 229; Code 1940, T. 18, §29.)...
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45-29-90.05
Section 45-29-90.05 Powers, duties, and functions of authority. (a) The general powers, duties,
and functions of the authority shall be as follows: (1) Shall have perpetual succession in
its corporate name. (2) May sue and be sued in its corporate name. (3) May adopt, use, and
alter a corporate seal, which shall be judicially noticed. (4) May enter into such contracts
and cooperative agreements with federal, state, and local governments, with agencies of such
governments, and with private individuals, corporations, associations, and other organizations
whether organized under the laws of Alabama or of another state, as the board may deem necessary
or convenient to enable it to carry out the purposes of this article. (5) May adopt, amend,
and repeal bylaws. (6) May appoint managers, officers, employees, attorneys, and agents as
the board deems necessary for the transaction of its business, fix their compensation, define
their duties, and require bonds of such of them as the board may...
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45-48-40
Section 45-48-40 Branch banking authorized. (a) Any bank, incorporated under the laws of this
state and having a banking office in Marshall County, and any national bank having a combined
paid in capital and earned surplus of at least two hundred thousand dollars ($200,000), shall
have the power to establish, maintain, and operate within the limits of such county, one or
more branches or branch banks, and to conduct all types of banking and trust business at such
branch or branch bank as such bank is lawfully authorized to conduct at its principal office;
provided that no branch may be established within the city limits of any incorporated municipality
having a population of 5,000 or less in accord with the present or any subsequent federal
decennial census and in which a bank is already established; and further provided that any
such branch or branch bank lawfully established under this section may continue to operate
if the population of the incorporated municipality in which it is...
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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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