5-5A-20
Section 5-5A-20 Branch banks; commercial affiliates. (a) Alabama banks may establish
a branch or office for the transaction of the banking business within the State of Alabama
upon prior approval of the superintendent. Alabama banks may establish a branch or office
for the transaction of a banking business in any state other than Alabama, any territory of
the United States, or in any foreign country in accordance with the provisions of federal
law, the laws of the other state, territory, or foreign country and upon the prior approval
of the superintendent. (b) All laws or parts of laws, whether general, local, or general laws
of local applications, which conflict with this section are hereby repealed to the
extent of such conflict. (c) Neither an Alabama bank nor an out-of-state bank may establish
or maintain a branch or office for the transaction of the banking business in Alabama on the
premises of a commercial affiliate of the bank. For purposes of this section, commercial
affiliate...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-5A-20.htm - 1K - Match Info - Similar pages

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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-13B-81.htm - 2K - Match Info - Similar pages

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

5-13B-41
Section 5-13B-41 Definitions. For purposes of this article: (a) The term "bank"
means any bank as defined in: Section 2(c) of the Bank Holding Company Act (12 U.S.C.
§1841(c)); Section 3(a)(1) of the Federal Deposit Insurance Act (12 U.S.C. §1813(a)(1)),
other than a branch of a foreign bank; or, as the context may require, in Chapter 5A, Title
5. The term "bank" as used in this article shall not in any event include a foreign
bank or a branch or agency of a foreign bank. (b) The term "foreign bank" means
any company organized under the laws of a foreign country, a territory of the United States,
Puerto Rico, Guam, American Samoa, or the Virgin Islands, that engages directly in the business
of banking. The term includes foreign commercial banks, foreign merchant banks, and other
foreign institutions that engage in banking activities usual in connection with the business
of banking in the countries where such foreign institutions are organized or operating. (c)
The term "out-of-state...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-13B-41.htm - 7K - Match Info - Similar pages

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...

alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-13B-2.htm - 4K - Match Info - Similar pages

37-11A-1
Section 37-11A-1 Execution and text of compact. The Governor, on behalf of this state,
shall execute a compact, in substantially the following form, with the State of Mississippi,
and the Legislature approves and ratifies the compact in the form substantially as follows:
Northeast Mississippi - Northwest Alabama Railroad Authority Compact. The contracting states
solemnly agree: Article I. The purpose of this compact is to promote and develop trade, commerce,
industry, and employment opportunities for the public good and welfare in northeast Mississippi
and northwest Alabama through the establishment of a joint interstate authority to acquire
certain railroad properties and facilities which the operator thereof has notified the Interstate
Commerce Commission of an intention to abandon and which are located in any of Franklin, Marion,
or Winston Counties, Alabama or in Alcorn or Tishomingo Counties, Mississippi. Article II.
This compact shall become effective immediately as to the State...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-11A-1.htm - 33K - Match Info - Similar pages

5-13B-86
Section 5-13B-86 Powers of branch and agency. (a) Except as otherwise specifically provided
in this division or in regulations or orders adopted by the superintendent, and notwithstanding
any other law or regulation of this state to the contrary, operations of a foreign bank at
an Alabama state branch or Alabama state agency shall be conducted with the same rights, privileges,
and powers as an Alabama state bank at the same location, including, but not limited to, the
eligibility to exercise fiduciary or trust powers, and shall be subject to all the same duties,
restrictions, penalties, liabilities, conditions, and limitations that would apply under the
laws of this state to an Alabama state bank doing business at the same location. (b) Among
other exceptions to the provisions of subsection (a) that may be required or authorized by
the superintendent pursuant to the provisions of this division: (1) An Alabama state branch
that was not grandfathered as an "insured branch" within the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-13B-86.htm - 4K - Match Info - Similar pages

5-13B-115
Section 5-13B-115 Seizure of foreign bank's property and business; liquidation. (a)
If the superintendent finds that any of the factors set forth in Section 5-13B-113
are true with respect to any foreign bank which is licensed to establish and maintain an Alabama
state branch or Alabama state agency and that it is necessary for the protection of the interests
of the creditors of such foreign bank's business in this state or for the protection of the
public interest that he or she take immediate possession of the property and business of the
foreign bank, the superintendent may by order forthwith take possession of the property and
business of the foreign bank in this state and retain possession until the foreign bank resumes
business in this state or is finally liquidated. The foreign bank may, with the consent of
the superintendent, resume business in this state upon such conditions as the superintendent
may prescribe by regulation or order. (b) At any time within 10 days after the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-13B-115.htm - 3K - Match Info - Similar pages

5-3A-1
Section 5-3A-1 Required times; items to be examined; applicability to bank holding companies
and affiliates. (a) For purposes of this section, a bank holding company is a holding
company organized under the laws of Alabama or another state in the United States that directly
owns a majority of the voting securities of an Alabama state bank. (b) Every bank other than
national banks shall be subject to the supervision and inspection of the superintendent and
the regulations and supervision thereof. The superintendent shall, by competent examiner appointed
by him or her, visit and examine every bank organized under the laws of Alabama at least once
in each eighteen-month period. The examination of banks shall be at irregular intervals. On
every examination, inquiry shall be made as to the conditions and resources of the bank, the
mode of conducting and managing the affairs of the bank, the action of its directors, the
investment of the funds of the bank, the safety and prudence of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-3A-1.htm - 4K - Match Info - Similar pages

5-13B-113
Section 5-13B-113 Suspension or revocation of license; factors. If, after notice and
a hearing, the superintendent finds any of the following with respect to a foreign bank which
is licensed to establish and maintain an Alabama state branch or Alabama state agency, he
or she may issue an order suspending or revoking the license of such foreign bank: (1) That
the foreign bank has violated any provision of this article or of any regulation or order
issued under this article or any provision of any other applicable law, regulation, or order;
(2) That the foreign bank is transacting activities in this state in an unsafe or unsound
manner or, in any case, is transacting activities elsewhere in an unsafe or unsound manner;
(3) That the foreign bank or any one or more of its Alabama state branches or Alabama state
agencies is in an unsafe or unsound condition; (4) That the foreign bank has ceased to operate
any of its offices in this state without the prior approval of the superintendent in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-13B-113.htm - 2K - Match Info - Similar pages