5-20-6
Section 5-20-6 Application for approval; filing fee. Any bank holding company, bank holding
company subsidiary, domestic lender or foreign lender proposing to establish or acquire a
credit card bank pursuant to this chapter shall file an application with the superintendent
for prior approval of such establishment or acquisition. Such application shall contain such
information as the superintendent may require, and shall specifically acknowledge each applicant's
agreement to be bound by the conditions set forth in Section 5-20-4. In addition, such application
shall designate a resident of this state as each applicant's registered agent in connection
with matters arising out of this chapter and shall be accompanied by the filing fee specified
in section 5-20-4. (Acts 1988, No. 88-85, p. 104, §1.)...
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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...
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5-5A-5
Section 5-5A-5 Procedure for incorporation - Filing of objections to incorporation of proposed
bank; investigation of objections. Any bank doing business in the community or any reputable
citizen in the community may file with the superintendent an objection to the incorporation
of the proposed bank, provided that the superintendent may refuse to accept objections after
15 days from the last date of publication of the notice of intention to incorporate. If such
objection is filed, the superintendent shall thoroughly and specifically inquire into and
investigate the objections. The superintendent in his investigation may summon witnesses to
appear before him, and may administer oaths to such witnesses, and may examine such witnesses
under oath. The superintendent may in his discretion disclose in confidence to the proposed
incorporators such information which relates to the proposed bank as he deems appropriate
and the superintendent and employees of the Banking Department shall be...
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5-7A-44
Section 5-7A-44 Rights of dissenting shareholders. The rights of shareholders of a national
bank dissenting from the conversion, merger or consolidation of the bank shall be governed
exclusively by the applicable laws of Congress. A shareholder of a state bank who votes against
the conversion, merger or consolidation of that state bank with or to a national bank, or
who has given notice in writing to the bank at or prior to such meeting that he dissents from
the conversion, merger or consolidation shall be entitled to receive in cash the value of
the shares held by him, if and when the conversion, merger or consolidation is consummated,
upon written request made to the resulting national bank at any time before 30 days after
the date of consummation of such conversion, merger or consolidation, accompanied by the surrender
of his stock certificates. The value of such shares shall be determined as of the date on
which the shareholders meeting was held authorizing the conversion, merger...
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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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5-8A-20
Section 5-8A-20 Proceedings of superintendent before banking board as to defaults or misconduct
of bank. Whenever it shall appear to the superintendent that any bank has violated its charter
or any law of the state, or is conducting business in any unauthorized manner, or that the
bank may suspend payment of its obligations, or if its capital is impaired and not made good
under the requirement of the superintendent within the required time, or if any such bank
or an affiliate of such bank as defined in Section 5-3A-1 shall refuse to submit its papers,
books, and concerns to the inspection of the superintendent or any examiner, or if any officer
thereof shall refuse to be examined on oath touching the conducting of any such bank, or if
any such bank shall suspend payment of its obligations, or if from any examination the superintendent
shall have reason to conclude that such bank is in an unsound or unsafe condition to transact
the business for which it was organized, or that it is...
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5-8A-23
Section 5-8A-23 Acquisition of possession of property and business of bank by superintendent;
notice to holders of bank assets. The superintendent shall not take possession of the property
and business of any bank under the provisions of this chapter unless requested in writing
to do so by a majority of the directors of the bank under Section 5-8A-21 or directed to do
so by the Banking Board under Section 5-8A-20. On taking possession of the property and business
of any such bank, the superintendent shall give notice of such fact to all banks in this state
and other parties or corporations known to be holding or in possession of any assets of such
bank. (Acts 1980, No. 80-658, §5-8-23.)...
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10A-2A-9.12
Section 10A-2A-9.12 Action on a plan of conversion. In the case of a conversion of a corporation
the plan of conversion shall be adopted in the following manner: (a) The plan of conversion
shall first be adopted by the board of directors. (b) The plan of conversion shall then be
approved by the stockholders. In submitting the plan of conversion to the stockholders for
their approval, the board of directors must recommend that the stockholders approve the plan,
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 10A-2A-8.26
applies. If either (i) or (ii) applies, the board of directors shall inform the stockholders
of the basis for its so proceeding. (c) The board of directors may set conditions for approval
of the plan of conversion by the stockholders or the effectiveness of the plan of conversion.
(d) If the approval of the stockholders is to be given at a...
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45-47-40
Section 45-47-40 Branch banking. Any bank situated within any incorporated municipality in
Marion County, with the approval of the State Superintendent of Banks, may establish, maintain,
and operate branch banks, or additional offices or places of business for the receipt of deposits,
payment of checks, making of loans, and conducting a general banking business within such
incorporated municipality. Provided, however, that any bank in Marion County shall be permitted
to branch into any municipality in the county that does not presently have banking facilities.
(Act 1973, No. 312, p. 443, § 1; Act 82-304, p. 410, § 1.)...
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5-11A-1.1
Section 5-11A-1.1 Branching of trust companies; branching of out-of-state trust companies;
reciprocity; cooperative agreements. All corporations organized under this chapter shall have
the right to establish offices in the same manner as a bank may establish branches under this
title. At the discretion of the superintendent, out-of-state trust companies and out-of-state
banks may also establish offices in this state in the same manner as out-of-state banks may
establish branches in this state provided the superintendent determines that reciprocity exists
so that an Alabama bank or trust company could establish a similar office under substantially
equivalent requirements in the home state of the out-of-state bank or trust company. The superintendent
may enter into cooperative, coordinated, and information-sharing agreements with any other
bank supervisory agencies with respect to the establishment, acquisition, periodic examination,
or other supervision of any office in this state of an...
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