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5-13B-21
Section 5-13B-21 Definitions. As used in this article, unless a different meaning is required
by the context, the following words and phrases shall have the following meanings: (a) "Alabama
bank" means a bank whose home state is Alabama. (b) "Alabama state bank" means
a bank chartered under the laws of Alabama. (c) "Bank" has the same meaning as set
forth in 12 U.S.C. §1813(h); provided that the term "bank" shall not include any
"foreign bank" as defined in 12 U.S.C. §3101(7), except that such term shall include
any foreign bank organized under the laws of a territory of the United States, Puerto Rico,
Guam, American Samoa, or the Virgin Islands, the deposits of which are insured by the Federal
Deposit Insurance Corporation. (d) "Bank holding company" has the meaning set forth
in 12 U.S.C. §1841(a) (1). (e) "Bank supervisory agency" means: (1) The Office
of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Board of
Governors of the Federal Reserve...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-13B-21.htm - 3K - Match Info - Similar pages
5-17-22
Section 5-17-22 Merger and conversion procedures. Any credit union, with the approval of the
Administrator of the Alabama Credit Union Administration, may merge with another credit union,
under the existing certificate of organization of the other credit union, pursuant to any
plan agreed upon by the majority of each board of directors of each credit union joining in
the merger. In addition to approval by the administrator and each board of directors, the
membership of the merging credit union must also approve the merger plan in the following
manner: (1) At a meeting called for that purpose, notice of which purpose must be contained
in the call, two-thirds of those voting may vote to approve the merger plan. Voting must be
conducted in accordance with the bylaws of the credit union. The notice must be provided to
the members at least 45 calendar days, but no more than 90 calendar days, prior to the date
of the meeting. (2) After agreement by the directors and approval by the members...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-17-22.htm - 5K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-20-4.htm - 3K - Match Info - Similar pages
16-13-91
Section 16-13-91 Approval of issuance. Before issuing any warrants hereunder the county board
of education or the city board of education, as the case may be, shall cause an application
for approval of such issue to be filed with the State Superintendent of Education. Such application
shall be in such form and shall contain such information as the State Superintendent of Education
may prescribe, and he may require such further information as may be necessary relating to
the proposed warrants or other financial or educational matters under the control of such
board of education. He shall not approve the issue of any warrants which would jeopardize
the state's Foundation Program of education as prescribed by law and in accordance with the
rules and regulations of the State Board of Education. He shall not approve the issue of any
warrants hereunder when the principal or interest of any other warrants constituting a preferred
claim against the same tax is overdue and unpaid, except...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-13-91.htm - 3K - Match Info - Similar pages
5-13B-9
Section 5-13B-9 Agency activities. (a) Any Alabama state bank may, upon compliance with the
requirements of this section, agree to receive deposits, renew time deposits, close loans,
service loans, receive payments on loans and other obligations and, with the prior approval
of the superintendent, perform other services as an agent for any depository institution.
(b) An Alabama state bank that proposes to enter into an agency agreement to perform services
other than those specifically designated in subsection (a) shall file with the superintendent
at least 30 days before the effective date of the agreement: (1) A notice of intention to
enter into such an agency agreement with a depository institution; (2) A description of the
services other than those specifically designated in subsection (a) proposed to be performed
under the agency agreement; and (3) A copy of the agreement. (c) If any proposed service is
not specifically designated in subsection (a) and has not previously been...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-13B-9.htm - 3K - 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
10A-1-8.01
Section 10A-1-8.01 Conversion of business and nonprofit entities. (a) A conversion of an entity
may be accomplished as provided in this section: (1) CORPORATIONS. a. The terms and conditions
of a plan of conversion of a corporation, other than a nonprofit corporation, must be approved
in accordance with the procedures and by the stockholder vote required by Article 9 of Chapter
2A. If the governing documents provide for approval of a conversion by less than all of a
corporation's stockholders, approval of the conversion shall constitute corporate action subject
to appraisal rights pursuant to Article 13 of Chapter 2A. No conversion of a corporation to
a general or limited partnership may be effected without the consent in writing of each stockholder
who will have personal liability with respect to the converted entity, notwithstanding any
provision in the governing documents of the converting corporation providing for less than
unanimous stockholder approval for the conversion. b. The...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-1-8.01.htm - 18K - Match Info - Similar pages
5-8A-1
Section 5-8A-1 Liquidation of solvent banks. Any solvent bank may dissolve under the provisions
of Alabama law relating to voluntary dissolution of a business corporation provided that the
superintendent has given his written approval to such dissolution. The superintendent may
require the directors to give bond in an amount fixed by him with surety or sureties to be
approved by him, payable to the State of Alabama, for the protection of the superintendent
and all other persons interested; provided, however, the amount of any such bond required
shall not be greater than the total liability of the bank to its depositors and other creditors.
Upon receipt of the written approval of the superintendent of the statutory dissolution procedures,
it shall be unlawful for said bank to receive any further deposits. (Acts 1980, No. 80-658,
§5-8-1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-8A-1.htm - 1K - Match Info - Similar pages
10A-20-7.02
Section 10A-20-7.02 Incorporation. (a) Five or more financial institutions or persons, a majority
of whom shall be residents of this state, who may desire to create an industrial development
corporation under the provisions of this article for the purpose of promoting, developing,
and advancing the prosperity and economic welfare of the state and, to that end, to exercise
the powers and privileges provided in this article may be incorporated by delivering to the
Secretary of State for filing a certificate of formation. The filing of the certificate shall
be accompanied by a filing fee in the amount prescribed to be paid to the Secretary of State
under Section 10A-1-4.31 in connection with the filing of a certificate of formation. The
certificate of formation shall contain: (1) The name of the corporation which shall include
the words "industrial development corporation of Alabama." (2) The location of the
principal office of the corporation, but the corporation may have offices in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-20-7.02.htm - 5K - Match Info - Similar pages
27-27-46
Section 27-27-46 Merger and consolidations - Domestic mutual insurers. (a) A domestic mutual
insurer may merge or consolidate with another insurer under the applicable procedures prescribed
by the statutes of this state applying to corporations formed for profit, except as provided
in this section. (b) The plan and agreement for merger or consolidation shall be submitted
to, and approved by, at least two-thirds of the members of each mutual insurer voting thereon
at meetings called for the purpose pursuant to such reasonable notice and procedure as has
been approved by the commissioner. If a life insurer, right to vote may be limited to members
whose policies are other than term and group policies and have been in effect for more than
one year. (c) No such merger or consolidation shall be effectuated unless in advance thereof
the plan and agreement therefor have been filed with the commissioner and approved by him
in writing after a hearing thereon. The commissioner shall give such...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-27-46.htm - 1K - Match Info - Similar pages
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