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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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36-31-1
Section 36-31-1 Designation and prescription of powers and duties of trustees. Each governing
body in the State of Alabama including the council, commission or similar governing body of
each municipal corporation, the board of directors of each incorporated municipal board, the
county commission of each county, the board of education of each city, the board of education
of each county, the board of directors of each county or municipal hospital, each gas district,
any other county or municipal public corporation, agency or authority and the board of trustees,
board of managers, board of control or similar governing body of each state agency or institution
of education, learning, training or correction or for the delinquent, insane, sick, deaf,
dumb, blind, needy, juvenile or aged, now existing or established after September 16, 1963,
may designate a bank (whether a national bank or banking association or a banking or trust
company operating under the jurisdiction of the Superintendent...
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5-13B-60
Section 5-13B-60 Purpose. This division is generally intended to ensure that the laws and regulations
of this state applicable to the ownership and operations of Alabama banks, and interstate
branches in this state of out-of-state banks, do not discriminate against such banks that
are owned or controlled by foreign banks or other foreign persons in a manner inconsistent
with the provisions of Section 3(d) of the Bank Holding Company Act (12 U.S.C. §1842(d)),
as amended effective September 29, 1995, by Section 101 of the Interstate Banking and Branching
Efficiency Act, or with other laws and policies of the United States. (Acts 1995, No. 95-115,
p. 134, §25.)...
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22-21-355
Section 22-21-355 Further provisions respecting investment of funds. In addition to the investment
powers granted by the enabling statute, any authority shall, to the extent permitted by the
contracts of such authority with the holders of its securities, have the further power to
invest any portion of the principal proceeds derived from the sale of any of its securities
not then needed for any of the purposes for which such securities were authorized to be issued,
any moneys held in any special fund created pursuant to any resolution or mortgage, mortgage
indenture, mortgage and trust indenture or trust indenture authorizing or securing any of
its securities, and any other moneys of such authority not then needed by it, in any of the
following: (1) Debt securities (whether general obligations or limited or special obligations)
of any state, territory or possession of the United States of America and of any political
subdivision of any such state, territory or possession, but if and...
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5-5A-18
Section 5-5A-18 Powers of banks generally. Corporations formed for the purpose of doing business
as a bank may: (1) Discount bills, notes or other evidences of debt; (2) Receive and pay out
deposits, with or without interest, pay checks, and impose charges for any services; (3) Receive
on special deposit money, bullion or foreign coins or bonds or other securities; (4) Buy and
sell foreign and domestic exchanges, gold and silver bullion or foreign coins, bonds, bills
of exchange, notes and other negotiable paper; (5) Lend money on personal security or upon
pledges of bonds, stocks or other negotiable securities; (6) Take and receive security by
mortgage, security agreement or otherwise on property, real and personal; (7) Become trustees
for any purpose and be appointed and act as executors, administrators, guardians, receivers,
or fiduciaries upon receiving the prior written approval of the superintendent under Section
5-11A-1; (8) Lease real and personal property upon specific request...
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23-7-2
Section 23-7-2 Definitions. For the purposes of this chapter, the following words shall have
the following meanings: (1) BANK. The Alabama Transportation Infrastructure Bank. (2) BOARD.
The board of directors of the bank. (3) BONDS. Includes bonds, notes, or other evidence of
indebtedness except as otherwise provided in this chapter. (4) DEPARTMENT or DEPARTMENT OF
TRANSPORTATION. The Alabama Department of Transportation. (5) ELIGIBLE COST. As applied to
a qualified project to be financed from the federal highway account, the costs that are permitted
under applicable federal laws, requirements, procedures, and guidelines in regard to establishing,
operating, and providing assistance from the bank. As applied to a qualified project to be
financed from the state highway account, these costs include the costs of preliminary engineering,
traffic, and revenue studies; environmental studies; right-of-way acquisition; legal and financial
services associated with the development of the...
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5-5A-22
Section 5-5A-22 Limits of indebtedness. (a) No bank shall make a loan to any one person which,
when combined with all other loans to such person, would cause total loans to that person
to exceed: (1) Ten percent of the capital accounts of the bank, if such loans are not secured,
or (2) Twenty percent of the capital accounts of the bank, if loans in excess of 10 percent
of capital are fully secured. (b) No loans which would exceed the limitation set forth in
subsection (a)(1) shall be made unless duly authorized or approved in advance by the board
of directors of the bank, a committee of the board of directors of the bank, or a loan committee,
with such authorization or approval recorded in minutes of the meeting at which the authority
was given. (c)(1) As used in this section, the term "capital accounts" shall include
capital, surplus, and undivided profits as defined in Section 5-1A-2, together with obligations
of the bank subordinated in priority upon liquidation or dissolution to...
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27-17A-47
Section 27-17A-47 Establishment and management of endowment care fund. (a) Every cemetery authority
operating an endowment care cemetery shall establish an endowment care fund which shall be
placed with and held by a bank, trust company, savings and loan association, or other financial
institution authorized to provide trust services under Title 5, as amended, or under the applicable
laws of the United States or any other state, or a board of trustees, consisting of at least
three members, who shall reside in the State of Alabama, one of whom is engaged in outside
cemetery management, and each of whom shall be bonded to honestly perform the duties of trustee
under a formal trust agreement. (b) Except as specifically provided in this subsection, commencing
on July 1, 2014, a person serving on a board of trustees or cemetery authority may not also
serve as a trustee of an endowment care fund for the cemetery authority. A board of trustees
in existence on July 1, 2014, may continue to...
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8-6-10
Section 8-6-10 Registration of securities - Exempt securities. Sections 8-6-4 through 8-6-9
shall not apply to any of the following securities: (1) Any security, including a revenue
obligation, issued or guaranteed by the United States, any state, any political subdivision
of a state, any agency, corporate, or other instrumentality of one or more of the foregoing;
or any certificate of deposit for any of the foregoing. (2) Any security issued or guaranteed
by Canada, any Canadian province, any political subdivision of any province, any agency, corporate,
or other instrumentality of one or more of the foregoing or any other foreign government with
which the United States currently maintains diplomatic relations if the security is recognized
as a valid obligation by the issuer or guarantor. (3) Any security issued by and representing
an interest in or a debt of, or guaranteed by, any bank organized under the laws of the United
States or any bank, savings institution, or trust company...
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40-21-4
Section 40-21-4 Detailed requirements of reports. Each such report shall show the following
items and particulars as the same stood on the next preceding October 1, together with any
other facts or information that may be called for by said Department of Revenue: (1) The name
and principal place of business of the company, corporation, association, or individual in
whose behalf the statement is made and the character of the business engaged in; (2) If a
company, association or corporation, the state, or government under the laws of which it was
incorporated or authorized to do business, the date of original organization, the date of
reorganization, consolidation, or merger and the purpose of its incorporation as expressed
in its charter or articles of association; (3) The place where all books, papers, and accounts
are kept, and the names and post-office addresses of the president, secretary, treasurer,
superintendent, general manager, general counsel, directors, and all other general...
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