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5-13B-81
Section 5-13B-81 Branches and agencies of foreign banks - Necessity of licensure. (a)
No foreign bank shall transact business in this state except at an Alabama state branch or
Alabama state agency which it is licensed to establish and maintain pursuant to, and at which
it conducts such activities as are permitted by, this article. (b) Subsection (a) shall not
be deemed to prohibit: (1) Any foreign bank which maintains a federal agency or federal branch
in this state from transacting at such federal agency or federal branch such business as it
may be authorized to transact under applicable federal laws and regulations; or (2) Any foreign
bank which does not maintain an Alabama state branch or Alabama state agency from making in
this state loans secured by liens on real property located in this state; or (3) Any foreign
bank which maintains an Alabama branch or agency from transacting business as agent for an
affiliated depository or other institution in accordance with provisions of...
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5-3A-34
Section 5-3A-34 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. Examination
reports of service providers created or obtained by the superintendent or State Banking Department
are confidential subject to Sections 5-3A-3 and 5-3A-11. The superintendent may furnish a
copy, or portions thereof, of a report of any examination performed by the superintendent
of the performance, condition, and affairs of any service provider and any other information
obtained through examination of the service provider to entities as provided in Section
5-3A-3, including the board of directors of the serviced bank, under the same terms and with
the same limitations as set forth for other examination reports, data, and information under
Section 5-3A-3. Additionally, the superintendent may furnish copies of his or her reports
of examination, and any other information obtained through examination of the service...
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5-6A-1
Section 5-6A-1 Directors of banks to own stock in bank; citizenship and residence of
directors. Not less than 75 percent of the directors of a bank shall, during their whole term
of service, be citizens of the United States. Every director of a bank shall be the owner
and holder of shares of stock in the bank or parent bank holding company. Every director shall
hold such shares in his or her own name, unpledged and unencumbered in any way except statutory
lien which might attach in favor of such corporation. No person convicted of a felony or a
crime involving moral turpitude shall serve as a director. At least 51 percent of the directors
of every bank shall be residents of the state. Any director at any time violating any of the
provisions of this section shall be removed from office by the board of directors or
by the superintendent when the facts are made known to the superintendent. (Acts 1980, No.
80-658, §5-6-1; Act 98-244, p. 403, §1.)...
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5-7A-22
Section 5-7A-22 Conversion of national bank, etc., into state bank - Powers and duties
of bank, stockholders, officers, etc., upon issuance of certificate. (a) When the superintendent
has given to such bank a certificate that the provisions of this article have been complied
with, such bank and all its stockholders, officers and employees shall have the same powers
and privileges and shall be subject to the same duties, liabilities and regulations, in all
respects, as shall have been prescribed for banks originally organized as banking corporations
under the laws of Alabama. (b) At the time when such conversion of the national bank into
a state bank, under the charter of the latter, becomes effective, all the property of the
national bank, including all its rights, title and interest in and to all property of whatsoever
kind, whether real, personal or mixed, and things in action, and every right, privilege, interest
and asset of any conceivable value or benefit then existing, belonging...
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5-11A-9
Section 5-11A-9 Exemption of trust companies, etc., acting as administrators, etc.,
from bond requirement. Any trust company or bank which is authorized by law to act as a guardian,
administrator, executor, receiver or trustee, except as may be otherwise provided in this
code for the administration of the affairs of war veterans, under appointment of any court
of this state, and which maintains the deposit provided for in Section 5-11A-5, shall
be entitled as a matter of right to exemption from giving bond before receiving authority
to act in any of the above capacities, provided its aggregate liabilities, to secure which
said bonds or other securities are deposited, do not exceed five times the par value of said
securities. When such company desires exemption from giving any such bond, it shall file with
the officer who would otherwise require such bonds a sworn statement showing the amount in
value of the bonds or other securities on deposit with the State Treasurer, and that the...
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5-13B-99
Section 5-13B-99 Amended license to establish and maintain a branch or agency. (a) A
foreign bank which is licensed to establish and maintain an Alabama state branch or Alabama
state agency must secure an amended license if it changes its corporate name, changes the
duration of its corporate existence, or desires to pursue in this state other or additional
purposes than those set forth in its prior application under this article for a license, by
making application therefor to the superintendent. (b) The requirements with respect to the
form and contents of an application under subsection (a), the manner of its execution, the
filing of duplicate originals thereof with the superintendent, the issuance of an amended
license and the effect thereof shall be the same as in the case of an initial application
for a license to establish and maintain an Alabama state branch or Alabama state agency. (Acts
1995, No. 95-115, p. 134, §47.)...
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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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5-22-2
Section 5-22-2 Definitions. For the purpose of this chapter, the following terms shall
have the meanings ascribed by this section: (1) CURRENCY. Currency and coin of the
United States. (2) FINANCIAL INSTITUTION. Any national bank or banking association, state
bank or banking association, industrial savings bank, trust company, federal savings and loan
association, state savings and loan association, federal savings bank, state savings bank,
federal credit union, state credit union, Edge Act or agreement corporation, or international
bank agency, located in this state, whether organized under the laws of this state, the laws
of another state, or the laws of the United States. (3) PERSON. Any individual, and any corporation,
partnership, association or other such business entity. (Acts 1990, No. 90-469, p. 674, §2.)...
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5-2A-18
Section 5-2A-18 Bank examiners - Commission. The superintendent shall furnish to each
examiner a commission under the signature of the superintendent and official seal of the State
Banking Department, which commission the examiner shall exhibit to the bank, and to any officer
or officers proposed to be examined as his authority for making the examination. (Acts 1980,
No. 80-658, §5-2-21.)...
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5-2A-41
Section 5-2A-41 Meetings of board - Notice; executive session; confidentiality. (a)
A meeting of the Banking Board may be held on call of the superintendent or any three members
of the Banking Board. The superintendent shall give to each member of the Banking Board at
least three days' notice of the time and place of any meeting of the Banking Board unless
such notice is waived by all the members of the Banking Board. (b) At any meeting, the Banking
Board may go into executive session in order to do any of the following: (1) Protect the confidentiality
of reports or information under Sections 5-3A-3, 5-3A-11, and 5-13B-105 and other provisions
of this title. (2) Review information concerning the condition and affairs of any proposed
bank or trust company, any bank or trust company, any subsidiary or affiliate of a bank or
trust company, or several banks or trust companies or their subsidiaries, or to review personal
or financial information of individuals. (3) Accomplish any other...
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