5-7A-61
Section 5-7A-61 Definitions. As used in this article, the following terms shall have the following
meanings, respectively, unless the context clearly indicates otherwise: (1) SAVINGS INSTITUTION.
A savings and loan association or savings bank organized under the laws of this state or organized
under the laws of the United States and having its principal place of business in this state,
whether a "capital stock saving institution" which is authorized to issue capital
stock, or a "mutual savings institution," shares of which are owned by its members.
(2) RESULTING BANK. The state chartered bank that results from conversion of a savings institution
to a state chartered bank pursuant to this article. (3) SUPERINTENDENT. The Superintendent
of Banks for the State of Alabama. (4) STATE CHARTERED BANK. A bank the same as if such bank
were incorporated, chartered and permitted to do business, all as provided in Section 5-5A-1
et seq. (5) PLAN OF CONVERSION. That written document containing all...
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9-16-107
Section 9-16-107 Effective date. This article shall become effective immediately upon: (1)
Its passage and approval by the Governor, or upon its otherwise becoming a law; and (2) Upon
the approval of the state regulatory program by the Secretary of Interior pursuant to Section
503 of P. L. 95-87, 30 U.S.C. §1253 (1977). However upon the passage and approval by the
Governor of this article, or upon its otherwise becoming a law the Alabama Surface Mining
Commission shall have the authority to promulgate those regulations necessary for the state
to retain exclusive jurisdiction over the regulation of surface coal mining and reclamation
operations pursuant to Section 503 of Public Law 95-87, 30 U.S.C. §1253 et seq. Any proceedings
currently being taken or previously taken by the Alabama Surface Mining Reclamation Commission
for the purpose of promulgating the necessary regulations shall be continued and considered
actions of the reconstituted commission. (Acts 1981, No. 81-435, p. 682,...
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5-13B-62
Section 5-13B-62 Citizenship and residency requirements for directors of state banks. Notwithstanding
any other provision of the laws and regulations of this state, the citizenship and residency
requirements otherwise applicable to members of the board of directors of any Alabama bank
may, in the case of an Alabama bank which is a subsidiary or affiliate of a foreign bank,
be waived by the superintendent in his or her discretion upon application by the controlling
shareholder of the Alabama bank; provided that at least a majority of the directors shall
be citizens of the United States and at least 25 percent of the directors shall be residents
of this state. (Acts 1995, No. 95-115, p. 134, §27.)...
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5-13B-92
Section 5-13B-92 Representative office - Permissible activities. (a) A foreign bank which is
licensed to establish and maintain an Alabama representative office may, subject to such regulations
as the superintendent may prescribe, engage in the following activities: (1) Solicitation
for loans and in connection therewith the assembly of credit information, making of property
inspections and appraisals, securing of title information, preparation of applications for
loans including making recommendations with respect to action thereon, solicitation of investors
to purchase loans from the foreign bank, and the search for such investors to contract with
the foreign bank for servicing of such loans; (2) The solicitation of new business; (3) The
conduct of research; and (4) Back office administrative functions as may be more specifically
defined in regulations issued by the superintendent. Any other activity which the foreign
bank seeks to conduct at such office shall be subject to the prior...
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5-20-4
Section 5-20-4 Establishment or acquisition of a credit card bank. Subject to the provisions
of this chapter and to the prior approval of the superintendent, any bank holding company,
bank holding company subsidiary, domestic lender or foreign lender may, either singly or jointly
with other bank holding companies, bank holding company subsidiaries, domestic lenders or
foreign lenders, establish or acquire, and own and control all the voting shares of a single
credit card bank located in Alabama when and for so long as the following conditions are satisfied:
(1) If the credit card bank is to be organized under the laws of this state, such bank shall
be organized as provided in this chapter and in the manner provided in Chapter 5A of this
title; (2) In connection with the application to organize, or to acquire control of a credit
card bank, the applicant or applicants shall pay one filing fee to the Alabama Department
of Banking in an amount not less than $15,000 to be set by the...
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5-7A-63
Section 5-7A-63 Resulting bank as continuation of savings institution. Except insofar as the
superintendent requires the converting savings institution to terminate certain activities
and dispose of certain assets in order to meet the requirements applicable to state chartered
banks, upon the conversion of any savings institution into a state chartered bank, the corporate
existence of such savings institution shall not terminate, but such resulting bank shall be
deemed to be a continuation of the savings institution so converted, and all property of the
converted savings institution including its rights, titles and interests in and to all property
of whatsoever kind, character or description, whether real, personal or mixed, and things
in action and every right, privilege, interest and asset of any conceivable value or benefit,
and all obligations, liabilities, charges, liens, encumbrances, judgments, and claims then
existing or pertaining to it or which would inure to or against it,...
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9-11-190
Section 9-11-190 Catching of nongame fish from public waters by use of wire baskets - When,
where and how permitted. The Commissioner of Conservation and Natural Resources is hereby
authorized and empowered to promulgate rules and regulations authorizing the taking, catching
or killing of nongame fish from the public waters of this state by the use of wire baskets
having a mesh of one inch or more; provided, however, that the Commissioner of Conservation
and Natural Resources shall only promulgate such a regulation upon the written petition of
all of the state representatives and state senators from the county or counties in which said
regulation or regulations shall be effective. Petitions from state representatives and state
senators as provided for above shall specify whether the wire baskets they desire shall have
a mesh of one inch or two inches. No regulation shall be promulgated allowing the use of wire
baskets in Lewis M. Smith reservoir on the Sipsey fork of the Warrior River...
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5-10A-17
Section 5-10A-17 Officers not to incur liability or penalties for compliance with orders of
superintendent, federal laws, etc. No public officer or surety on his official bond shall
suffer any penalty or liability for damages or increase of liability or be in default by reason
of any failure on his part to perform any act or duty where such failure is due to compliance
by any bank with any order or requirement of the superintendent or the Banking Board authorized
or ratified by this chapter or with any act of Congress of the United States now or hereafter
enacted or with any rule or regulation promulgated by duly constituted officials of the United
States. (Acts 1980, No. 80-658, §5-10-19.)...
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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...
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5-2A-21
Section 5-2A-21 Assessment of banks - Fees for failure to pay assessment; proceedings for collection
of assessment. Each bank failing to make payments of assessments on call made by the superintendent
within 30 days after receiving notice from the superintendent of the amount of the assessment,
shall pay to the state $100.00 for each day after such 30-day period. Such sum, together with
the amount due from the bank, may be collected by civil action from the bank in the name of
the state against the bank, and the Attorney General shall represent the superintendent in
proper proceedings to enforce the collection of the assessment, together with the amount provided
in this section. (Acts 1980, No. 80-658, §5-2-4.)...
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