5-3A-33
Section 5-3A-33 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION, EFFECTIVE APRIL 4, 2018. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) Whenever a serviced bank causes to be performed for itself, by contract or otherwise, any of the covered services listed in this section, the performance, condition, and affairs of the service provider are subject to regulation and examination to the same extent as if the services were being performed by the serviced bank itself when deemed necessary by the superintendent to ensure the safe and sound operation of a serviced bank or serviced banks or to respond to a danger, or potential danger, to the public welfare. (b) For the purposes of this section, covered services include all of the following: (1) Data processing services. (2) Activities that support financial services including, but not limited to, lending, funds transfer, fiduciary activities, trading activities, and deposit taking. (3) Internet related services...
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5-2A-7
Section 5-2A-7 Superintendent - Expansion of banking powers; rules and regulations. (a) The Legislature finds as fact and determines that the financial industry composed of those banks and savings and loan associations having their principal place of business in Alabama must keep pace with technological and other improvements constantly being made throughout the United States so as to enable Alabama banks and savings and loan associations to render better and more efficient services to the citizens of Alabama. It is necessary and desirable that the superintendent be given additional authority in these fields. (b) The superintendent is hereby authorized to expand banking powers of Alabama banks or the powers of Alabama savings and loan associations in order to: (1) Accommodate or take advantage of changing technologies; and (2) Assure the ability of Alabama banks and Alabama savings and loan associations to be responsive in their respective businesses to the needs and conveniences...
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16-18B-2
Section 16-18B-2 Definitions. Where used in this article the following words and terms shall be given the following respective meanings unless the context hereof clearly indicates otherwise: (1) AMENDMENT. The amendment to the constitution of the state authorizing the issuance of the bonds. (2) CORPORATION. The public corporation authorized to be created by this article. (3) BOARD OF DIRECTORS. The board of directors of the corporation. (4) BONDS. The bonds issued under this article. (5) CODE. The Code of Alabama 1975, as amended. (6) GOVERNMENT SECURITIES. Any bonds or other obligations which as to principal and interest constitute direct obligations of, or are unconditionally guaranteed by, the United States of America, including obligations of any federal agency to the extent such obligations are unconditionally guaranteed by the United States of America and any certificates or any other evidences of an ownership interest in such obligations of, or unconditionally guaranteed by, the...
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5-13B-88
Section 5-13B-88 Authority to act as agent. (a) An Alabama state branch or Alabama state agency of a foreign bank licensed under this article may receive deposits, renew time deposits, close loans, service loans, and receive payments on loans and other obligations as an agent for any depository institution affiliate of such foreign bank, including branch, agency, and other offices of the same foreign bank located in other states, generally in accordance with the same terms, conditions, procedures, and requirements that are applicable under the laws and regulations of this state to such agency activities that may be conducted by Alabama state banks. (b) Notwithstanding any other provision of the laws or regulations of this state, an Alabama state branch or Alabama state agency of a foreign bank acting in this state as an agent in accordance with the provisions of this section shall not be considered to be a branch of such other depository institution affiliate; provided, however, that...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-13B-88.htm - 2K - Match Info - Similar pages
5-26-15
Section 5-26-15 Confidentiality. In order to promote more effective regulation and reduce regulatory burden through supervisory information sharing: (1) PROTECTIONS. Except as otherwise provided in Public Law 110-289, Section 1512, the requirements under any federal law regarding the privacy or confidentiality of any information or material provided to the Nationwide Mortgage Licensing System and Registry, and any privilege arising under federal or state law, including the rules of any federal or state court, with respect to such information or material, shall continue to apply to such information or material after the information or material has been disclosed to the Nationwide Mortgage Licensing System and Registry. Such information and material may be shared with all state and federal regulatory officials with mortgage industry oversight authority without the loss of privilege or the loss of confidentiality protections provided by federal or state law. (2) AGREEMENTS AND SHARING...
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5-17-60
Section 5-17-60 Confidentiality of conditions and affairs of credit unions; disclosures. (a) Except as otherwise provided in this title or under state or federal law, the administrator, a member of the Credit Union Board, or an examiner or other state employee may not disclose the condition and affairs of any credit union, its supervisory committee, or subsidiaries or other affiliates, ascertained by an examination of such credit union or affiliates, or report or give out nonpublic personal information of credit union members, except as authorized or required by law; provided that this section shall not be construed to prevent examiners and other employees from reporting such information to the administrator or such persons as the administrator may lawfully designate. (b) Notwithstanding subsection (a), the administrator, at the administrator's discretion, may disclose any information otherwise protected under this section to the members of the Credit Union Board and confer with the...
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9-14A-3
Section 9-14A-3 Definitions. Where used in this chapter the following words and terms shall be given the following respective meanings unless the context hereof clearly indicates otherwise: (a) AMENDMENT. Amendment 617 to the Constitution of Alabama of 1901, authorizing the issuance of the bonds. (b) CORPORATION. The respective public corporations authorized to be created by this chapter. (c) BOARD OF DIRECTORS. The respective board of directors of the corporations. (d) BONDS. The bonds issued under the provisions of this chapter. (e) CODE. The Code of Alabama 1975, as amended. (f) GOVERNMENT SECURITIES. Any bonds or other obligations which as to principal and interest constitute direct obligations of, or are unconditionally guaranteed by, the United States of America, including obligations of any federal agency to the extent the obligations are unconditionally guaranteed by the United States of America and any certificates or any other evidences of an ownership interest in such...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/9-14A-3.htm - 6K - Match Info - Similar pages
27-2B-9
Section 27-2B-9 Confidentiality of reports and plans; information sharing agreements; publication of RBC levels prohibited; use of reports and plans by commissioner. (a) All RBC reports, to the extent the information therein is not required to be set forth in a publicly available annual statement schedule, and RBC plans, including the results or report of any examination or analysis of an insurer performed pursuant hereto and any corrective order issued by the commissioner pursuant to examination or analysis, with respect to any domestic insurer or foreign insurer which are filed with the commissioner constitute information that may be damaging to the insurer if made available to its competitors and therefore shall be kept confidential by the commissioner. This information shall not be made public or be subject to subpoena, other than by the commissioner, and then only for the purpose of enforcement actions taken by the commissioner pursuant to this chapter or any other provision of...
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27-31B-10
Section 27-31B-10 Examinations and investigations. (a) At least once in three years, and whenever the commissioner determines it to be prudent, the commissioner shall visit each captive insurance company and thoroughly inspect and examine its affairs to ascertain its financial condition, its ability to fulfill its obligations, and whether it has complied with this chapter. The commissioner, upon application, may enlarge the three-year period to five years, provided the captive insurance company is subject to a comprehensive annual audit during that period of a scope satisfactory to the commissioner by independent auditors approved by the commissioner. The expenses and charges of the examination shall be in accordance with Section 27-2-25. (b) All examination reports, preliminary examination reports or results, working papers, recorded information, documents, and copies thereof produced by, obtained by, or disclosed to the commissioner or any other person in the course of an examination...
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41-10-751
Section 41-10-751 Definitions. When used in this article, the following terms shall have the following meanings, unless the context clearly indicates otherwise: (1) ALABAMA TRUST FUND. The trust fund of the state created under Amendment 450 to the Constitution of Alabama of 1901, and appearing as ยง219.02 of the Official Recompilation of the Constitution of Alabama 1901, as amended. (2) APPROPRIATED FUNDS. The BP settlement revenues deposited in the special fund to the extent such revenues are appropriated to the authority pursuant to Section 41-10-759. (3) AUTHORITY. The Alabama Economic Settlement Authority authorized to be established pursuant to Section 41-10-752. (4) BONDS. Those bonds, including refunding bonds, issued pursuant to this article. (5) BP SETTLEMENT REVENUES. Revenues received by the state in settlement of economic damages claims of the state against BP Exploration and Production, Inc. and any of its corporate affiliates arising out of the Deepwater Horizon oil spill...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-751.htm - 6K - Match Info - Similar pages
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