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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
5-7A-2
Section 5-7A-2 Proceedings to effect consolidation, merger or transfer. Before such consolidation,
merger or transfer shall become effective, the following proceedings must be had and done.
The board of directors of each bank affected must pass a resolution stating that such consolidation,
merger or transfer is desirable and order the officers of the bank to call a meeting of the
stockholders to consider the proposition. Upon the passage of such resolution by the directors,
the officers shall mail a notice of such meeting to each stockholder at his last known place
of residence, postage prepaid, at least 30 days before the date set for the meeting of stockholders,
which notice shall specify the date and place of the meeting and the purpose for which the
meeting is to be held. A copy of the resolution must also be forwarded to the superintendent
for his information, and he shall investigate the advisability of such consolidation, merger
or transfer. On the day of the meeting of the...
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27-2-28
Section 27-2-28 Hearings - Power to hold. (a) The commissioner may hold hearings for any purpose
within the scope of this title deemed by him to be necessary. (b) The commissioner shall hold
a hearing if required by any provision, or upon written demand therefor by a person aggrieved
by any act, threatened act or failure of the commissioner to act or by any report, rule, regulation,
or order of the commissioner, other than an order for the holding of a hearing or an order
on hearing or pursuant thereto. Any such demand shall specify the grounds to be relied upon
as a basis for the relief to be demanded at the hearing, and unless postponed by mutual consent,
the hearing shall be held within 30 days after receipt by the commissioner of demand therefor.
(c) Pending such hearing and decision thereon, the commissioner may suspend or postpone the
effective date of his previous action. (d) This section does not apply as to hearings provided
for in Chapter 13 of this title. (Acts 1971, No....
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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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-5A-22.htm - 6K - Match Info - Similar pages
11-50A-25
Section 11-50A-25 Public Service Commission review and regulation. The authority shall be subject
to the provisions of Title 37 to the extent set out herein. The public service commission
shall review all bond resolutions, power sales contracts and other agreements entered into
by the authority and and municipality and any investor-owned utility presently regulated by
the public service commission that may affect the rates of the authority in order to determine
if the rates to be charged by the authority pursuant to such resolutions, contracts and other
agreements are reasonable and in the public interest; such bond resolutions and contracts
shall not be effective if the rates to be charged by the authority as provided therein are
disapproved by the public service commission within 30 days after submission of such resolutions,
contracts and other agreements by the authority to the commission. In determining whether
to approve any rates to be charged by the authority pursuant to such...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50A-25.htm - 2K - Match Info - Similar pages
27-6-15
Section 27-6-15 Release of deposit - Generally. (a) All deposits in this state made under this
title shall be held on deposit as long as there is outstanding any liability of the insurer
with respect to which the deposit was made. (b) Any such deposit shall be released and returned:
(1) To the insurer upon extinguishment by reinsurance in an insurer authorized to transact
such insurance in this state, or otherwise, of all liability of the insurer for the security
of which the deposit is held; (2) To the insurer during solvency, to the extent such deposit
is in excess of the amount required; or (3) Upon proper order of a court of competent jurisdiction,
to the receiver, conservator, rehabilitator, or liquidator of the insurer or to any other
properly designated official, or officials, who succeed to the management and control of the
insurer's assets. (c) The Treasurer shall release any such deposit, or part thereof, upon
written authorization of the commissioner and of the insurer or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-6-15.htm - 2K - Match Info - Similar pages
27-6B-6
Section 27-6B-6 Penalties. (a) If the commissioner believes that the controlling producer or
any other person has not materially complied with this chapter, or any regulation or order
promulgated hereunder, after notice and opportunity to be heard, the commissioner may order
the controlling producer to cease placing business with the controlled insurer. (b) If it
was found that because of the material non-compliance that the controlled insurer or any policyholder
thereof has suffered any loss or damage, the commissioner may maintain a civil action or intervene
in an action brought by or on behalf of the insurer or policyholder for recovery of compensatory
damages for the benefit of the insurer or policyholder, or other appropriate relief. (c) If
an order for liquidation or rehabilitation of the controlled insurer has been entered, pursuant
to Chapter 32 of Title 27, and the receiver appointed under that order believes that the controlling
producer or any other person has not...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-6B-6.htm - 1K - Match Info - Similar pages
45-36A-104
Section 45-36A-104 Electric power board. (a) As used in this section the words electric board
shall mean the Electric Power Board of the City of Scottsboro, Alabama, in Jackson County,
a corporation organized under Title 37, Section 402 (15), and existing under the authority
of Sections 11-50-310 et al. (b) In addition to all other powers, rights, and authority heretofore
granted by law: (1) The electric board is hereby authorized and empowered to acquire, purchase,
construct, lease, operate, maintain, enlarge, extend, and improve a community antenna television
system, CATV, which may be defined, without limiting the generality, as a facility that in
whole or in part, receives directly, or indirectly, or over the air, and amplifies or otherwise
modifies the signal transmitting programs broadcast by one or more television or radio stations
from any point within this state or any other state and distributes such signals by wire or
cable or any other means to subscribing members of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-36A-104.htm - 5K - Match Info - Similar pages
6-6-392
Section 6-6-392 Bond required when garnishment in aid of pending action; exception as to Superintendent
of Banks. When the garnishment is in aid of a pending action, the plaintiff, his agent or
attorney must also give bond in double the amount claimed in the action, with sufficient surety,
to be approved by the officer issuing the writ, with condition that the plaintiff will prosecute
the garnishment to effect and pay the defendant all such damages as he may sustain from the
wrongful or vexatious suing out of such garnishment; and such bond, as to actions thereon,
is subject to the provisions of this code relating to actions on attachment bonds; provided,
however, that the Superintendent of Banks of the State of Alabama shall not be required to
give bond when garnishment is issued in aid of a pending action, which action is based on
a promissory note owned by a bank in the process of liquidation. Such Superintendent of Banks
or the liquidating agent of such bank in liquidation shall,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/6-6-392.htm - 2K - Match Info - Similar pages
22-22A-5
Section 22-22A-5 Powers and functions of department; representation of department by Attorney
General in legal actions. In addition to any other powers and functions which may be conferred
upon it by law, the department is authorized beginning October 1, 1982 to: (1) Administer
appropriate portions of Sections 9-7-10 through 9-7-20, which relate to permitting, regulatory
and enforcement functions; administer and enforce the provisions and execute the functions
of Chapter 28 of this title; Chapter 22 of this title; Article 2 of Chapter 23 of this title;
Chapter 30 of this title; appropriate portions of Article 1 of Chapter 27 of this title; Sections
22-24-1 through 22-24-11; Sections 22-25-1 through 22-25-15; and Sections 22-36-1 through
22-36-10. (2) Acting through the Environmental Management Commission, promulgate rules, regulations,
and standards in order to carry out the provisions and intent of this chapter; provided, however,
that prior to the promulgation of any state primary or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-22A-5.htm - 16K - Match Info - Similar pages
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