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27-32-5
Section 27-32-5 Injunctions and restraining orders. (a) Upon application by the commissioner
for such an order to show cause, or at any time thereafter, the court may, without notice,
issue an injunction restraining the insurer, its officers, directors, stockholders, members,
subscribers, agents, and all other persons from the transaction of its business or the waste
or disposition of its property until the further order of the court. (b) The court may, at
any time during a proceeding under this chapter, issue such other injunctions or orders as
may be deemed necessary to prevent interference with the commissioner or the proceeding, or
waste of the assets of the insurer, or the commencement or prosecution of any actions, or
the obtaining of preferences, judgments, attachments, or other liens or the making of any
levy against the insurer or against its assets or any part thereof. (c) Notwithstanding any
other provision of law, no bond shall be required of the commissioner as a...
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27-34-50
Section 27-34-50 Actions to enjoin or in quo warranto; liquidation; receivership. (a) When
the commissioner upon investigation finds that a domestic society: (1) Has exceeded its powers;
or (2) Has failed to comply with any provision of this chapter; or (3) Is not fulfilling its
contracts in good faith; or (4) Has a membership of less than 400 after an existence of one
year or more; or (5) Is conducting business fraudulently or in a manner hazardous to its members,
creditors, the public or the business, he shall notify the society of his findings, state
in writing the reasons for his dissatisfaction and require the society to show cause on a
date named why it should not be enjoined from carrying on any business until the violation
complained of shall have been corrected or why an action in quo warranto should not be commenced
against the society. (b) If on such date the society does not present good and sufficient
reasons why it should not be so enjoined or why such action should not...
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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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23-7-20
Section 23-7-20 Securing of bonds - Trust indenture. (a) Bonds may be secured by a trust indenture
between the bank and a corporate trustee, which may be the State Treasurer or any bank having
trust powers or any trust company doing business in this state. A trust indenture may contain
provisions for protecting and enforcing the rights and remedies of the bondholders which are
reasonable and proper, including covenants setting forth the duties of the bank in relation
to the exercise of its powers and the custody, safekeeping, and application of its money.
The bank may provide by the trust indenture for the payment of the proceeds of the bonds and
all or any part of the revenues of the bank to the trustee under the trust indenture or to
some other depository, and for the method of its disbursement with safeguards and restrictions
prescribed by it. All expenses incurred in performing the obligations of the bank under the
trust indenture may be treated as part of its operating expenses....
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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...
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24-1A-4
Section 24-1A-4 Members, officers and directors; appointment; qualifications; meetings of board
and public notice thereof; salaries; record of proceedings; copies of proceedings as evidence;
permanent maintenance of official record; members, officers, etc., not personally liable;
legislative oversight committee established; composition; appointment; expenses. (a) The applicants
named in the application, being the seven initial appointees of the Governor by congressional
districts, the Director of Finance ex officio and the Superintendent of Banks ex officio,
and their respective successors in office, together with the State Treasurer ex officio, an
appointee of the Governor from the state at large and the appointees of the Speaker of the
House and the Lieutenant Governor, and their respective successors in office, shall constitute
the members of the authority. The Governor shall, as soon as convenient after the passage
of this chapter, appoint one person from each of the now existing...
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27-32-11
Section 27-32-11 Orders - Rehabilitation of domestic insurers. (a) An order to rehabilitate
a domestic insurer shall direct the commissioner forthwith to take possession of the property
of the insurer and to conduct the business thereof and to take such steps toward removal of
the causes and conditions which have made rehabilitation necessary as the court may direct.
(b) If at any time the commissioner deems that further efforts to rehabilitate the insurer
would be useless, he may apply to the court for an order of liquidation. (c) The commissioner
or any interested person, upon due notice to the commissioner, at any time may apply to the
court for an order terminating the rehabilitation proceedings and permitting the insurer to
resume possession of its property and the conduct of its business, but no such order shall
be made or entered except when, after a hearing, the court has determined that the purposes
of the proceeding have been fully accomplished. (Acts 1971, No. 407, p. 707,...
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8-20-11
Section 8-20-11 Remedies. Notwithstanding the terms, provisions, or conditions of any dealer
agreement or franchise or the terms or provisions of any waiver, and notwithstanding any other
legal remedies available, any person who is injured in his business or property by a violation
of this chapter by the commission of any unfair and deceptive trade practices, or because
he refuses to accede to a proposal for an arrangement which, if consummated, would be in violation
of this chapter, may bring a civil action in a court of competent jurisdiction in this state
to enjoin further violations, to recover the damages sustained by him together with the costs
of the suit, including a reasonable attorney's fee. (Acts 1981, No. 81-390, p. 596, §11.)...
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8-21A-12
Section 8-21A-12 Action for injunction, damages, etc., for violations of chapter, unfair, or
deceptive trade practices, and other unlawful acts. Notwithstanding the terms, provisions
or conditions of any dealer franchise or dealer agreement or the terms or provisions of any
waiver, and notwithstanding any other legal remedies available, any person who is injured
in his business or property by a violation of this chapter, by the commission of any unfair
and/or deceptive trade practices, or because he refuses to accede to a proposal for an arrangement
which, if consummated, would be in violation of this chapter, may bring a civil action in
a court of competent jurisdiction to enjoin further violations, to recover any damages sustained
by him, together with the costs of the suit, including a reasonable attorney's fee. This section
applies equally to both manufacturers and dealers. (Acts 1991, No. 91-721, p. 1401, §12.)...
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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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