5-3A-35
Section 5-3A-35 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) The superintendent may enter into agreements, which shall be deemed sole source, one vendor, and one supplier contracts under the procurement laws of this state and shall be exempt from competitive and other bid requirements, with any bank supervisory agency that has concurrent jurisdiction over a service provider to do either of the following: (1) Engage the services of the examiners of any bank supervisory agency at a reasonable rate of compensation. (2) Provide the services of the examiners of the State Banking Department to any bank supervisory agency at a reasonable rate of compensation. (b) The superintendent may enter into corrective agreements with a service provider or may issue corrective orders to a service provider if the superintendent determines the actions are necessary to ensure the safe and sound...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-3A-35.htm - 1K - Match Info - Similar pages
5-7A-62
Section 5-7A-62 Application to convert charter; written plan of conversion; authorizing resolution; submission to superintendent; fee; tentative approval; vote of stockholders or members; directors; articles of incorporation and bylaws; statement of superintendent's objections; amendment; appeal of disapproval; application to FDIC; final approval and permit. Any savings institution may apply to the superintendent for permission to convert its charter in order to do business as a state chartered bank in accordance with the following procedures: (1) The board of directors shall approve a written plan of conversion, the application for conversion and shall adopt an authorizing resolution, all by a vote of a majority of all the directors. The plan of conversion shall include a statement of: a. The proposed organization and management structure of the resulting bank if the application were approved, and the proposed name under which it would do business as a bank; b. The method and time...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-7A-62.htm - 7K - Match Info - Similar pages
8-26B-4
Section 8-26B-4 Athlete agent; registration required; void contract. (a) Except as otherwise provided in subsection (b), an individual may not act as an athlete agent in this state without holding a certificate of registration under this chapter. (b) Before being issued a certificate of registration under this chapter, an individual may act as an athlete agent in this state for all purposes except signing an agency contract, if: (1) a student athlete or another person acting on behalf of the athlete initiates communication with the individual; and (2) not later than seven days after an initial act that requires the individual to register as an athlete agent, the individual submits an application for registration as an athlete agent in this state. (c) An agency contract resulting from conduct in violation of this section is void, and the athlete agent shall return any consideration received under the contract. (Act 2016-415, ยง1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-26B-4.htm - 1K - Match Info - Similar pages
35-12-89
Section 35-12-89 Requests for reports and examination of records. (a) The Treasurer may require a person who has not filed a report, or a person who the Treasurer believes has filed an inaccurate, incomplete, or false report, to file a verified report in a form specified by the Treasurer. The report must state whether the person is holding property reportable under this article, describe property not previously reported or as to which the Treasurer has made inquiry, and specifically identify and state the amounts of property that may be in issue. (b) The Treasurer, at reasonable times and upon reasonable notice, may examine the records of any person to determine whether the person has complied with this article. The Treasurer may conduct the examination even if the person believes it is not in possession of any property that shall be reported, paid, or delivered under this article. The Treasurer may contract with any other person to conduct the examination on behalf of the Treasurer....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-12-89.htm - 3K - Match Info - Similar pages
5-11A-5
Section 5-11A-5 Deposit of security for operation of trust business - Amount required and form; charges against deposit. Any corporation organized and operating as a trust company or as a bank authorized by law to do a trust business may deposit with the State Treasurer or elsewhere United States bonds, bonds, notes or debentures of any federal agency such as a federal land bank, banks for cooperatives, Farm Home Administration, Federal National Mortgage Association, etc., Alabama bonds, bonds of any city or county in the State of Alabama or mortgages which are first liens on real estate, worth in each case double the face of the mortgage, situated in this state, to an amount not less than $25,000.00, and may increase said deposit from time to time or reduce the same to an amount not less than $25,000.00, or may withdraw the deposit entirely, provided such trust companies or banks have made final settlement and accounted for all assets in their possession and under their control by...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-11A-5.htm - 1K - Match Info - Similar pages
5-25-16
Section 5-25-16 Enforcement and penalties. (a) Whenever it appears to the supervisor that any person required to be licensed or registered under this chapter has violated any law of this state or any order or regulation of the department, the supervisor after notice and hearing may order such person or an affiliate acting on behalf of such person to cease and desist from the unauthorized practices. (b) Any person required to be licensed under this chapter or an affiliate of such person who is found by the supervisor after notice and hearing to have violated this chapter or the terms of any order issued pursuant to this section may be ordered by the supervisor to pay a civil penalty of not more than three thousand dollars ($3,000) in the aggregate for all violations of a similar nature or, where violations are knowing violations, not more than fifteen thousand dollars ($15,000), in addition to any other penalties provided by law, including, but not limited to, revocation of any licenses...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-25-16.htm - 2K - Match Info - Similar pages
19-3-120.1
Section 19-3-120.1 Investments in common trusts, collective investment funds, and interests of investment companies and trusts. In addition to the investments authorized by Section 19-3-120, by any other provision of law for the investment of funds held by a trustee, executor, administrator, guardian, conservator or other fiduciary, or by the will, trust agreement or other document which is the source of authority, such fiduciary, other than a trustee governed by Chapter 3B, may invest in and hold (1) interests, however evidenced, in any common trust fund or other collective investment fund maintained by any national or state chartered bank, trust company or savings and loan association having trust powers, or (2) securities of or other interests in any open-end or closed-end management type investment company or investment trust registered under the Investment Company Act of 1940, as from time to time amended, so long as the portfolio of such common trust fund, collective investment...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-3-120.1.htm - 2K - Match Info - Similar pages
19-4-1
Section 19-4-1 Definitions. When used in this article, the following words and phrases shall have the following meanings, respectively, unless the context clearly indicates otherwise: (1) FIDUCIARY. An administrator, an administrator with the will annexed, an administrator de bonis non, an executor, a trustee, a guardian, a conservator, an agent, a custodian or a custodian or agent for another fiduciary or fiduciaries. (2) FIDUCIARY ACCOUNT. An estate, a trust, a guardianship, a custodianship, an agency or any other fiduciary relationship, including a custodianship or agency for another fiduciary or fiduciaries. (3) BANK. A bank or trust company organized and existing under the laws of Alabama with authority to act as a fiduciary and a national banking association with its principal office in the State of Alabama and with authority to act as a fiduciary. (4) SECURITY. Any note; stock; treasury stock; bond; debenture; evidence of indebtedness; certificate of interest or participation in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-4-1.htm - 3K - Match Info - Similar pages
5-2A-3
Section 5-2A-3 Superintendent - Qualifications, appointment and term of office; filling of vacancies. The State Banking Department shall be in the charge of the superintendent, who shall be the chief executive officer of the department. The superintendent shall be a person of good character and shall be neither directly nor indirectly interested in, nor borrow money from, a bank chartered under the laws of this state. Debts of the superintendent existing at the time of his or her appointment with banks chartered under the laws of this state may not be extended or renewed. The superintendent shall be appointed by the Governor by and with the consent of the Senate and his or her salary shall be set by the Governor within a salary range established by the Banking Board. The salary of any Assistant Superintendent of Banks shall be set by the Governor within a salary range established by the Banking Board for the position of Assistant Superintendent of Banks. Sections 36-6-5 and 36-6-6...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-2A-3.htm - 2K - Match Info - Similar pages
19-4-2
Section 19-4-2 Deposit of securities authorized; merger, etc., of certificates representing securities; transfer of ownership, etc., of securities; maintenance of records by fiduciary; rules and regulations governing banks acting as fiduciaries; certification by fiduciary of securities deposited. (a) Notwithstanding any other provision of law to the contrary, any fiduciary holding securities in a fiduciary capacity is authorized, in the absence of specific provision to the contrary in the governing instrument or court order under which the fiduciary is acting, to deposit or arrange for the deposit of such securities in a clearing corporation. (b) When such securities are so deposited, certificates representing securities of the same class of the same issuer may be merged and held in bulk in the name of the nominee of such clearing corporation with any other such securities deposited in such clearing corporation by any person regardless of the ownership of securities and certificates of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-4-2.htm - 2K - Match Info - Similar pages
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