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5-13B-86
Section 5-13B-86 Powers of branch and agency. (a) Except as otherwise specifically provided
in this division or in regulations or orders adopted by the superintendent, and notwithstanding
any other law or regulation of this state to the contrary, operations of a foreign bank at
an Alabama state branch or Alabama state agency shall be conducted with the same rights, privileges,
and powers as an Alabama state bank at the same location, including, but not limited to, the
eligibility to exercise fiduciary or trust powers, and shall be subject to all the same duties,
restrictions, penalties, liabilities, conditions, and limitations that would apply under the
laws of this state to an Alabama state bank doing business at the same location. (b) Among
other exceptions to the provisions of subsection (a) that may be required or authorized by
the superintendent pursuant to the provisions of this division: (1) An Alabama state branch
that was not grandfathered as an "insured branch" within the...
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5-13B-25
Section 5-13B-25 Powers. (a) An out-of-state state bank which establishes and maintains one
or more branches in Alabama under this article may conduct any activities at such branch or
branches that are authorized under the laws of this state for Alabama state banks. (b) An
Alabama state bank may conduct any activities at any branch outside Alabama that are permissible
for a bank chartered by the host state where the branch is located, except to the extent such
activities are expressly prohibited by the laws of this state; provided, however, that the
superintendent shall waive any such prohibition unless he or she determines, by order or regulation,
that the involvement of out-of-state branches of an Alabama state bank in particular activities
would threaten the safety or soundness of the bank. (Acts 1995, No. 95-115, p. 134, ยง17.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-13B-25.htm - 1K - Match Info - Similar pages
5-3A-35
Section 5-3A-35 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION,
EFFECTIVE APRIL 4, 2018. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) The superintendent
may enter into agreements, which shall be deemed sole source, one vendor, and one supplier
contracts under the procurement laws of this state and shall be exempt from competitive and
other bid requirements, with any bank supervisory agency that has concurrent jurisdiction
over a service provider to do either of the following: (1) Engage the services of the examiners
of any bank supervisory agency at a reasonable rate of compensation. (2) Provide the services
of the examiners of the State Banking Department to any bank supervisory agency at a reasonable
rate of compensation. (b) The superintendent may enter into corrective agreements with a service
provider or may issue corrective orders to a service provider if the superintendent determines
the actions are necessary to ensure the safe and sound...
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5-13B-82
Section 5-13B-82 Application to establish and maintain a branch or agency - Contents. (a) A
foreign bank, in order to procure a license under this article to establish and maintain an
Alabama state branch or Alabama state agency shall submit an application to the superintendent.
Such application shall contain: (1) The same information as required by the Board of Governors
of the Federal Reserve System for an application to establish a branch or agency, as the case
may be, in the United States; and (2) Such additional information as the superintendent may
require by regulation or order. (b) In addition to the information required to be included
in an application for a license to establish and maintain an Alabama state branch or Alabama
state agency listed in subsection (a), the superintendent may as he or she deems necessary
or appropriate require a foreign bank to include as part of such an application an instrument
irrevocably appointing the superintendent and his or her successors in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-13B-82.htm - 1K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-11A-1.1.htm - 1K - Match Info - Similar pages
5-13B-81
Section 5-13B-81 Branches and agencies of foreign banks - Necessity of licensure. (a) No foreign
bank shall transact business in this state except at an Alabama state branch or Alabama state
agency which it is licensed to establish and maintain pursuant to, and at which it conducts
such activities as are permitted by, this article. (b) Subsection (a) shall not be deemed
to prohibit: (1) Any foreign bank which maintains a federal agency or federal branch in this
state from transacting at such federal agency or federal branch such business as it may be
authorized to transact under applicable federal laws and regulations; or (2) Any foreign bank
which does not maintain an Alabama state branch or Alabama state agency from making in this
state loans secured by liens on real property located in this state; or (3) Any foreign bank
which maintains an Alabama branch or agency from transacting business as agent for an affiliated
depository or other institution in accordance with provisions of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-13B-81.htm - 2K - Match Info - Similar pages
5-2A-3
Section 5-2A-3 Superintendent - Qualifications, appointment and term of office; filling of
vacancies. The State Banking Department shall be in the charge of the superintendent, who
shall be the chief executive officer of the department. The superintendent shall be a person
of good character and shall be neither directly nor indirectly interested in, nor borrow money
from, a bank chartered under the laws of this state. Debts of the superintendent existing
at the time of his or her appointment with banks chartered under the laws of this state may
not be extended or renewed. The superintendent shall be appointed by the Governor by and with
the consent of the Senate and his or her salary shall be set by the Governor within a salary
range established by the Banking Board. The salary of any Assistant Superintendent of Banks
shall be set by the Governor within a salary range established by the Banking Board for the
position of Assistant Superintendent of Banks. Sections 36-6-5 and 36-6-6...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-2A-3.htm - 2K - Match Info - Similar pages
5-13B-131
Section 5-13B-131 Establishment of interstate branches in this state by out-of-state foreign
banks. (a) Except as provided in subsection (b), an out-of-state foreign bank may establish
an interstate Alabama state branch in the same manner, including by merger or other transactions
under Section 44 of the Federal Deposit Insurance Act, and comparable provisions of the laws
of this state, with Alabama banks or other institutions, as, and subject generally to the
same criteria, standards, conditions, requirements, and procedures applicable to the establishment
of interstate branches in this state by, an out-of-state bank having the same home state in
the United States, notwithstanding any provision of the laws or regulations of this state
to the contrary. (b) Notwithstanding the provisions of subsection (a), the superintendent:
(1) Shall apply to the establishment of an initial interstate Alabama state branch, and subsequent
intrastate Alabama branches, of any out-of-state foreign bank...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-13B-131.htm - 2K - Match Info - Similar pages
5-7A-61
Section 5-7A-61 Definitions. As used in this article, the following terms shall have the following
meanings, respectively, unless the context clearly indicates otherwise: (1) SAVINGS INSTITUTION.
A savings and loan association or savings bank organized under the laws of this state or organized
under the laws of the United States and having its principal place of business in this state,
whether a "capital stock saving institution" which is authorized to issue capital
stock, or a "mutual savings institution," shares of which are owned by its members.
(2) RESULTING BANK. The state chartered bank that results from conversion of a savings institution
to a state chartered bank pursuant to this article. (3) SUPERINTENDENT. The Superintendent
of Banks for the State of Alabama. (4) STATE CHARTERED BANK. A bank the same as if such bank
were incorporated, chartered and permitted to do business, all as provided in Section 5-5A-1
et seq. (5) PLAN OF CONVERSION. That written document containing all...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-7A-61.htm - 1K - Match Info - Similar pages
5-13B-5
Section 5-13B-5 Required application. (a) A company that proposes to make an acquisition under
this article shall: (1) File with the superintendent a copy of the application that such company
has filed with the responsible federal bank supervisory agency together with such additional
information as the superintendent may prescribe; and (2) Pay to the superintendent the application
fee, if any, prescribed by the superintendent. (b) To the extent consistent with the effective
discharge of the superintendent's responsibilities, the forms established under this article
for application and reporting shall conform to those established by the Board of Governors
of the Federal Reserve System under the Bank Holding Company Act. (c) In connection with an
application received under this article, the superintendent shall require that prior notice
of the application be published one time in a daily newspaper of general circulation and provide
an opportunity for public comment. (d) If the applicant...
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