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5-8A-22
Section 5-8A-22 Institution of civil action for vacation of charter, liquidation, etc., of
bank. The circuit court of the county in which the principal place of business of the bank
is located, sitting without a jury may upon application of the superintendent vacate the charter
of a bank, liquidate a bank, or appoint a receiver if the directors of the bank knowingly
violate or knowingly permit any of the officers, agents or employees of the bank to violate
any of the provisions of this title. No civil action shall be instituted by any other person
to vacate the charter of or liquidate or appoint a receiver for any bank except as authorized
in Section 5-8A-24. (Acts 1980, No. 80-658, §5-8-22.)...
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10A-2-11.05
Section 10A-2-11.05 Articles of merger or share exchange. REPEALED IN THE 2019 REGULAR SESSION
BY ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a)
After a plan of merger or share exchange is approved by the shareholders, or adopted by the
board of directors if shareholder approval is not required, the surviving or acquiring corporation
shall deliver to the Secretary of State for filing articles of merger or share exchange setting
forth: (1) The plan of merger or share exchange; (2) If shareholder approval was not required,
a statement to that effect; (3) If approval of the shareholders of one or more corporations
party to the merger or share exchange was required: (i) The designation, number of outstanding
shares, and number of votes entitled to be cast by each voting group entitled to vote separately
on the plan as to each corporation; and (ii) Either the total number of votes cast for and
against the plan by each voting group entitled to vote...
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16-26A-4
Section 16-26A-4 Board of directors generally. (a) There is hereby created a board of directors
for the school, sometimes hereinafter referred to as the "board." The board shall
be composed of 21 members as follows: (1) The State Department of Education assistant state
superintendent in charge of curriculum development, or his or her designee. (2) The Chancellor
of the University of Alabama System, or his or her designee. (3) The President of Auburn University,
or his or her designee. (4) The President of the University of South Alabama, or his or her
designee. (5) The President of Alabama A&M University, or his or her designee. (6) The
Chair of the Alabama High School of Mathematics and Science Foundation. (7) The Chair of the
House Standing Committee on Education, or his or her designee. (8) The Chair of the Senate
Standing Committee on Education, or his or her designee. (9) The Chair of the House Standing
Committee on Ways and Means Education, or his or her designee. (10) The Chair...
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16-3-17.3
Section 16-3-17.3 Flexible school terms. It is the intent of the Legislature that local school
systems be permitted to develop flexible school terms extending over the course of the 12
month calendar year. School systems desiring to use flexible school terms may utilize such
scheduling to develop tutorial programs or innovative programs for at-risk students or students
deemed academically deficient and to relieve overcrowded classroom conditions. Local school
systems desiring to develop flexible school terms shall, upon approval of the local board
of education, submit a plan to the State Superintendent of Education and upon his recommendation
and approval by the State Board of Education, the plan shall be adopted. No provision of The
Alabama Education Improvement Act of 1991 (Acts 1991, No. 91-323), shall be interpreted to
require personnel employed in local school systems to work longer than their current contract
provides. School personnel may work extended contract periods provided...
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2-7-3
Section 2-7-3 Grants to Alabama State Fair Authority - Plan for distribution of prize money
at fair; premiums or prizes in excess of annual appropriation. (a) Subject to the provisions
of subsection (b) of this section and prior to July 15 of every year, the Board of Directors
of the Alabama State Fair Authority shall adopt and forward, by United States registered or
certified mail, return receipt requested, to the chairman of the commission a plan in quintuplicate
which shall contain rules and regulations governing the distribution of the premium or prize
money between the different component parts of the exhibitions and governing the means and
methods for making the awards or giving the prizes or premiums for the exhibits to be held
that year at the annual fair conducted by said Alabama State Fair Authority. Said plan shall
state the date on which the said fair shall open and close that year. The plan submitted by
the Alabama State Fair Authority to the commission and approved by the...
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5-13B-112
Section 5-13B-112 Voluntary closure of branch, agency, or representative office - Application.
(a) No foreign bank which is licensed to establish and maintain an Alabama state branch, Alabama
state agency, or Alabama representative office shall close such office without filing an application
with, and obtaining the prior approval of, the superintendent. An application by a foreign
bank under this section shall be in such form and include such information as the superintendent
shall establish by regulation or order. (b) If the superintendent finds, with respect to an
application by a foreign bank under this section, that the closing of such office will not
be substantially detrimental to the public convenience and advantage, the superintendent shall
approve such application. If the superintendent finds otherwise, he or she shall deny the
application. (c) Whenever an application by a foreign bank under this section has been approved
and all conditions precedent to such closing have been...
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5-1A-2
Section 5-1A-2 Definitions. For the purposes of Chapters 1A through 12A of this title, the
following terms shall have the meanings respectively ascribed to them by this section: (1)
BANK. Any banking corporation or trust company organized under the laws of this state under
the jurisdiction of the superintendent of banks of this state or organized under the laws
of the United States having its principal place of business in this state. (2) SUPERINTENDENT.
The Superintendent of Banks of this state. (3) RECEIVERSHIP COURT. The circuit court of the
county in which is located the principal office of a bank in receivership. (4) NATIONAL BANK.
A national banking association organized pursuant to 12 U.S.C. § 21. (5) CAPITAL. The sum
of the par value of the authorized shares of a bank which have been issued and remain outstanding.
(6) SURPLUS. The aggregate of the amounts transferred to surplus pursuant to Section 5-5A-21
and any amounts subsequently designated as such by action of the board...
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5-27-2
Section 5-27-2 (Effective January 1, 2018) Definitions. When used in this chapter, the following
words and phrases shall have the following meanings: (1) APPROPRIATE STATE OR FEDERAL REGULATORY
AGENCY. The state or federal agency that is statutorily responsible for the supervision of
all or part of the operations of a participating financial institution. (2) DEPOSITOR. An
individual member or customer of a financial institution who meets all of the following requirements:
a. Maintains a qualifying account at a financial institution participating in a savings promotion
contest. b. Is in good standing at a financial institution authorized to do business in Alabama.
c. Is 18 years of age or older. (3) ENTRY. A chance or chances obtained by a depositor to
win a designated prize or prizes in a savings promotion contest by complying with the terms
and conditions of a savings promotion contest. (4) FINANCIAL INSTITUTION. A bank, savings
institution, or credit union authorized to do business...
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5-2A-20
Section 5-2A-20 Assessment of banks - When payable; amount; disposition of revenue. Each bank
shall on the call of the superintendent pay to the State Banking Department an assessment
fee based on the total resources of the bank as may be shown by its last report to the State
Banking Department. The rate of such assessment shall be in an amount fixed by the superintendent
and approved by the Banking Board and the assessment may be made more frequently than annually.
All assessments and other fees or penalties collected pursuant to this title by the State
Banking Department shall be paid into a special fund to be set up by the State Treasurer.
The special fund shall be used to pay the salaries of the officials and employees and the
expenses of the State Banking Department, including the purchase of equipment, vehicles, and
supplies necessary for the examination and supervision of banks, and all moneys deposited
therein are hereby appropriated for that purpose. The expenses of all...
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10A-2A-11.04
Section 10A-2A-11.04 Action on a plan of merger or stock exchange. In the case of a corporation
that is a constituent organization or the acquired entity in a stock exchange, the plan of
merger or stock exchange shall be adopted in the following manner: (a) The plan of merger
or stock exchange shall first be adopted by the board of directors. (b) Except as provided
in subsections (h), (j), and (l) and in Section 10A-2A-11.05, the plan of merger or stock
exchange shall then be approved by the stockholders. In submitting the plan of merger or stock
exchange to the stockholders for approval, the board of directors shall recommend that the
stockholders approve the plan or, in the case of an offer referred to in subsection (j)(2),
that the stockholders tender their stock to the offeror in response to the offer, unless (i)
the board of directors makes a determination that because of conflicts of interest or other
special circumstances it should not make a recommendation or (ii) Section...
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