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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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41-14A-6
Section 41-14A-6 Establishment of SAFE board of directors; powers and duties of the board of
directors. (a) There is hereby established a Board of Directors of the SAFE Program charged
with responsibility and authority to assess and manage the sufficiency of the collateral pool
and the SAFE Program to provide adequate protection from losses to public depositors. In exercising
its powers and performing its responsibilities, the board of directors shall constitute a
body politic under the laws of the state performing the public function of assuring the safety
of public deposits. (b) The State Treasurer shall be a permanent, standing, voting member
of the board of directors and shall serve as its chair. The Superintendent of Banks shall
be a permanent, standing, non-voting member of the board of directors. The remaining six members
shall each possess knowledge, skill, and experience in one or more of the following areas:
(1) Financial analysis. (2) Trend analysis. (3) Accounting. (4)...
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33-18-1
Section 33-18-1 Alabama-Coosa-Tallapoosa River Basin Compact. The State of Alabama hereby agrees
to the following interstate compact known as the Alabama-Coosa-Tallapoosa River Basin Compact:
Alabama-Coosa-Tallapoosa River Basin Compact The States of Alabama and Georgia and the United
States of America hereby agree to the following compact which shall become effective upon
enactment of concurrent legislation by each respective state legislature and the Congress
of the United States. Short Title This act shall be known and may be cited as the "Alabama-Coosa-Tallapoosa
River Basin Compact" and shall be referred to hereafter in this document as the "ACT
Compact" or "compact." Article I Compact Purposes This compact among the States
of Alabama and Georgia and the United States of America has been entered into for the purposes
of promoting interstate comity, removing causes of present and future controversies, equitably
apportioning the surface waters of the ACT, engaging in water planning,...
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33-19-1
Section 33-19-1 Apalachicola-Chattahoochee-Flint River Basin Compact. The State of Alabama
hereby agrees to the following interstate compact known as the Apalachicola-Chattahoochee-Flint
River Basin Compact: Apalachicola-Chattahoochee-Flint River Basin Compact The States of Alabama,
Florida and Georgia and the United States of America hereby agree to the following compact
which shall become effective upon enactment of concurrent legislation by each respective state
legislature and the Congress of the United States. Short Title This Act shall be known and
may be cited as the "Apalachicola-Chattahoochee-Flint River Basin Compact" and shall
be referred to hereafter in this document as the "ACF Compact" or "compact."
Article I Compact Purposes This compact among the States of Alabama, Florida and Georgia and
the United States of America has been entered into for the purposes of promoting interstate
comity, removing causes of present and future controversies, equitably apportioning the...
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5-13B-111
Section 5-13B-111 Asset maintenance. (a) Each foreign bank which is licensed to establish and
maintain an Alabama state branch or Alabama state agency shall hold in this state currency,
bonds, notes, debentures, drafts, bills of exchange, or other evidences of indebtedness, including
loan participation agreements or certificates, or other obligations payable in the United
States or in United States funds or, with the prior approval of the superintendent, in funds
freely convertible into United States funds, or such other assets as the superintendent shall
by regulation or order permit, in an amount which shall bear such relationship as the superintendent
shall by regulation or order prescribe to liabilities of such foreign bank payable at or through
its Alabama state branch or Alabama state agency, including acceptances, but excluding amounts
due and other liabilities to other offices, agencies, or branches of, and wholly owned, except
for a nominal number of directors' shares,...
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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...
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5-13B-23
Section 5-13B-23 Interstate merger transactions and branching; operation of branches. (a) One
or more Alabama state banks may enter into an interstate merger transaction with one or more
out-of-state banks under this article, and an out-of-state bank resulting from such transaction
may maintain and operate the branches in Alabama of an Alabama state bank that participated
in such transaction, provided that the conditions and filing requirements of this article
are met. (b) Except as otherwise expressly provided in this subsection, an interstate merger
transaction, establishment of a de novo branch, or acquisition of a branch shall not be permitted
under this article if, upon consummation of such transaction, the out-of-state bank, including
all insured depository institutions that would be "affiliates" as defined in 12
U.S.C. ยง1841(k) of the out-of-state bank, would control 30 percent or more of the total amount
of deposits held by all insured depository institutions in this state....
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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...
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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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27-60-2
Section 27-60-2 Interstate Insurance Product Regulation Compact. The State of Alabama hereby
agrees to the following interstate compact known as the Interstate Insurance Product Regulation
Compact: ARTICLE I. PURPOSES. The purposes of this compact are, through means of joint and
cooperative action among the compacting states: 1. To promote and protect the interest of
consumers of individual and group annuity, life insurance, disability income, and long-term
care insurance products; 2. To develop uniform standards for insurance products covered under
the compact; 3. To establish a central clearinghouse to receive and provide prompt review
of insurance products covered under the compact and, in certain cases, advertisements related
thereto, submitted by insurers authorized to do business in one or more compacting states;
4. To give appropriate regulatory approval to those product filings and advertisements satisfying
the applicable uniform standard; 5. To improve coordination of...
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