|
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
5-2A-7
Section 5-2A-7 Superintendent - Expansion of banking powers; rules and regulations. (a) The
Legislature finds as fact and determines that the financial industry composed of those banks
and savings and loan associations having their principal place of business in Alabama must
keep pace with technological and other improvements constantly being made throughout the United
States so as to enable Alabama banks and savings and loan associations to render better and
more efficient services to the citizens of Alabama. It is necessary and desirable that the
superintendent be given additional authority in these fields. (b) The superintendent is hereby
authorized to expand banking powers of Alabama banks or the powers of Alabama savings and
loan associations in order to: (1) Accommodate or take advantage of changing technologies;
and (2) Assure the ability of Alabama banks and Alabama savings and loan associations to be
responsive in their respective businesses to the needs and conveniences...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-2A-7.htm - 3K - Match Info - Similar pages
27-5A-2
Section 27-5A-2 Definitions. As used in this chapter, the following terms shall have the following
meanings, respectively, unless the context clearly indicates otherwise: (1) ACTUARY. A person
who is a member in good standing of the American Academy of Actuaries. (2) COMMISSIONER. The
Alabama Commissioner of Insurance. (3) CONTROLLING PERSON. Any person, firm, association,
or corporation who directly or indirectly has the power to direct or cause to be directed,
the management, control, or activities of the reinsurance intermediary. (4) INSURER. Any person,
firm, association, or corporation duly licensed in this state pursuant to the applicable provisions
of the insurance law as an insurer. (5) LICENSED PRODUCER. An insurance producer or reinsurance
intermediary licensed pursuant to the applicable provision of the insurance law. (6) QUALIFIED
U.S. FINANCIAL INSTITUTION. An institution that: a. Is organized or, in the case of a U.S.
office of a foreign banking organization, licensed,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-5A-2.htm - 4K - Match Info - Similar pages
5-13B-2
Section 5-13B-2 Definitions. For purposes of this article: (a) "Acquire" means: (1)
For a company to merge or consolidate with a bank holding company; (2) For a company to assume
direct or indirect ownership or control of: (I) More than 25 percent of any class of voting
shares of a bank holding company or a bank, if the acquiring company was not a bank holding
company prior to such acquisition; (II) More than five percent of any class of voting shares
of a bank holding company or a bank, if the acquiring company was a bank holding company prior
to such acquisition; or (III) All or substantially all of the assets of a bank holding company
or a bank; or (3) For a company to take any other action that results in the direct or indirect
acquisition of control by such company of a bank holding company or a bank; however, formation
of a de novo bank pursuant to Chapter 5A of this title is not an acquisition for purposes
of this article. (b) "Affiliate" has the meaning set forth in Section...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-13B-2.htm - 4K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-19-22.htm - 7K - Match Info - Similar pages
5-5A-44
Section 5-5A-44 Acquisition of majority of voting shares of a bank; procedure. (a) No person,
acting directly or indirectly or through or in concert with one or more persons, may acquire
control of a state bank or of any corporation or other entity having control of a state bank,
unless an application is filed with the superintendent for review of the proposed transaction
and for his or her action, if any, as provided in this section. (b) The application shall
be on a form prescribed by the superintendent and shall be made under oath. The application
must contain all information that the superintendent by regulation requires to be furnished
in an application, as well as any information that the superintendent orders to be included
in the particular application being filed and shall be accompanied by the filing fee prescribed
by the Banking Board. For the purposes of this section, the Banking Board may reduce or waive
any prescribed fees for applications where a change of control...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-5A-44.htm - 11K - Match Info - Similar pages
7-9A-102
Section 7-9A-102 Definitions and index of definitions. (a) Article 9A definitions. In this
article: (1) "Accession" means goods that are physically united with other goods
in such a manner that the identity of the original goods is not lost. (2) "Account,"
except as used in "account for," means a right to payment of a monetary obligation,
whether or not earned by performance, (i) for property that has been or is to be sold, leased,
licensed, assigned, or otherwise disposed of, (ii) for services rendered or to be rendered,
(iii) for a policy of insurance issued or to be issued, (iv) for a secondary obligation incurred
or to be incurred, (v) for energy provided or to be provided, (vi) for the use or hire of
a vessel under a charter or other contract, (vii) arising out of the use of a credit or charge
card or information contained on or for use with the card, or (viii) as winnings in a lottery
or other game of chance operated or sponsored by a State, governmental unit of a State, or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-9A-102.htm - 29K - Match Info - Similar pages
8-20-4
Section 8-20-4 Unfair and deceptive trade practices. Notwithstanding the terms, provisions,
or conditions of any dealer agreement or franchise or the terms or provisions of any waiver,
prior to the termination, cancellation, or nonrenewal of any dealer agreement or franchise,
the following acts or conduct shall constitute unfair and deceptive trade practices: (1) For
any manufacturer, factory branch, factory representative, distributor, or wholesaler, distributor
branch, or distributor representative to coerce or attempt to coerce any motor vehicle dealer
to do any of the following: a. To accept, buy, or order any motor vehicle or vehicles, appliances,
equipment, parts, or accessories therefor, or any other commodity or commodities or service
or services which such motor vehicle dealer has not voluntarily ordered or requested except
items required by applicable local, state, or federal law; or to require a motor vehicle dealer
to accept, buy, order, or purchase such items in order to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-20-4.htm - 34K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-13B-83.htm - 2K - Match Info - Similar pages
5-13B-87
Section 5-13B-87 Fiduciary activities. (a) No foreign bank which is licensed to establish and
maintain an Alabama state branch or Alabama state agency shall engage in fiduciary activities
at such office unless such foreign bank shall have first obtained a certificate of authority
from the superintendent to engage in fiduciary activities at such office. (b) An application
to obtain a certificate of authority to engage in fiduciary activities shall be in such form
and contain such information, and be accompanied by such reasonable fee, as the superintendent
may require by regulation. The superintendent shall issue a certificate of authority to engage
in fiduciary activities to a foreign bank making an application under this section if he or
she finds that such foreign bank will exercise fiduciary powers in accordance with the laws
and regulations of this state. (c) A foreign bank which holds a certificate of authority issued
under this section may engage at its Alabama state branch or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-13B-87.htm - 2K - Match Info - Similar pages
|