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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45-48-40
Section 45-48-40 Branch banking authorized. (a) Any bank, incorporated under the laws of this
state and having a banking office in Marshall County, and any national bank having a combined
paid in capital and earned surplus of at least two hundred thousand dollars ($200,000), shall
have the power to establish, maintain, and operate within the limits of such county, one or
more branches or branch banks, and to conduct all types of banking and trust business at such
branch or branch bank as such bank is lawfully authorized to conduct at its principal office;
provided that no branch may be established within the city limits of any incorporated municipality
having a population of 5,000 or less in accord with the present or any subsequent federal
decennial census and in which a bank is already established; and further provided that any
such branch or branch bank lawfully established under this section may continue to operate
if the population of the incorporated municipality in which it is...
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5-5A-18.1
Section 5-5A-18.1 Banks and trust companies to have power of federally chartered or regulated
financial institution. In addition to all other rights and powers provided under this title,
banks and trust companies chartered by this state and supervised by the superintendent and
banks or trust companies chartered by any other state which are doing business or proposing
to conduct any bank or trust company activities in this state and each of their subsidiaries,
subject to the prior approval of the superintendent, may make any loan or investment , exercise
any power, and engage in any activity which they could make , exercise, or engage in if incorporated
or operating as a federally chartered or regulated financial institution and they shall be
entitled to all rights, privileges, and protections granted or available to federally chartered
or regulated financial institutions. In addition to other conditions determined at the superintendent's
discretion, any approval granted under this...
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5-13B-83
Section 5-13B-83 Application to establish and maintain a branch or agency - Manner of filing
and determination. (a) A foreign bank making an application under this article for a license
to establish and maintain an Alabama state branch or Alabama state agency shall deliver to
the superintendent: (1) At least two, or more as the superintendent may require by regulation,
duplicate originals of the foreign bank's application; and (2) At least two, or more as the
superintendent may require by regulation, copies of its charter or articles of incorporation
and all amendments thereto, duly authenticated by the proper officer of the country of such
foreign bank's organization. (b) The superintendent shall issue a license to a foreign bank
to establish and maintain an Alabama state branch or Alabama state agency if he or she finds
that: (1) The foreign bank is of good character and sound financial standing; (2) The management
of the foreign bank and the proposed management of the Alabama state...
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45-28-40
Section 45-28-40 Banks. Any bank, whether incorporated or unincorporated, within the state,
now or hereafter situated in, or having a branch in, Etowah County, shall have the power to
establish, maintain, and operate within the limits of the county, where a place of business
of such bank is situated, one or more branches or branch banks, branch offices, branch agencies,
additional offices or branch places of business for the receipt of deposits, payment of checks,
lending of money, and the conduct of a general banking and trust business, provided that such
bank, before the establishment of any such branch or branches, shall first secure the written
consent of the State Superintendent of Banks and meet the requirements of the appropriate
regulatory banking authorities. Provided, however, that any branch bank established under
this section shall be within the corporate limits of a municipality, in Etowah County and,
where the population of the municipality was less than 3,000 persons...
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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...
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5-11A-1
Section 5-11A-1 Amenability of trust companies to banking laws; use of word "trust"
in corporate name generally; operation of trust departments, etc., by banks. All corporations
organized and operating as trust companies shall have the word "trust" as a part
of their corporate names, shall be amenable to the general banking laws of the state insofar
as said laws are applicable to trust companies and not in conflict with the provisions of
this chapter and shall be examined by the superintendent as state banks are examined. The
word "trust" need not be a part of the corporate name of any corporation now or
hereafter organized under the laws of this state to do a banking business and all such banks,
although the word "trust" is not a part of their corporate names, shall have the
right to operate and conduct a trust department, become trustees for any purpose, be appointed
and act as executors, administrators, guardians and receivers and do any business and exercise
any powers incident to...
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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...
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5-19-22
Section 5-19-22 License to engage in business of making consumer loans or taking assignments
of consumer credit contracts - Required; exceptions; application; investigation; standards
for issuance; hearing; licensing under Small Loan Act; fees; participation in Nationwide Mortgage
Licensing System and Registry. (a) No creditor shall engage in any one or more of the following
activities without first having obtained a license from the administrator: (1) Making consumer
loans to Alabama residents, regardless of whether the creditor has a place of business in
Alabama or an employee residing in Alabama. (2) Making consumer loans originated by an individual
required to be licensed as a mortgage loan originator under the Alabama Secure and Fair Enforcement
for Mortgage Licensing Act of 2009. (3) Taking assignments of consumer credit contracts, either
from a place of business in Alabama or through use of an employee residing in Alabama whose
employment includes taking assignments of consumer...
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45-27-246.30
Section 45-27-246.30 Trust fund. (a) The Legislature recognizes that there has been a certain
windfall to Escambia County paid during the fiscal year 1983-84 and arising under the oil
and gas severance tax levied under provisions of Section 40-20-2, and distributed under Section
40-20-8. The legislative intent of this section is to establish a trust fund, the corpus of
which is to be composed of four million dollars ($4,000,000) from the oil and gas severance
tax paid to Escambia County during the fiscal year of 1983-84 together with 20 percent of
the annual income thereon each year during the existence of this trust beginning with the
fiscal year 1984-85. (b) Subject to any limitation of the Constitution of Alabama of 1901,
or of any general law of this state, the Escambia County Commission shall establish a trust
fund which shall be entitled the Escambia County Oil and Gas Severance Trust and which shall
hereafter in this section be referred to as the trust. The Escambia County...
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