5-2A-20
Section 5-2A-20 Assessment of banks - When payable; amount; disposition of revenue. Each bank
shall on the call of the superintendent pay to the State Banking Department an assessment
fee based on the total resources of the bank as may be shown by its last report to the State
Banking Department. The rate of such assessment shall be in an amount fixed by the superintendent
and approved by the Banking Board and the assessment may be made more frequently than annually.
All assessments and other fees or penalties collected pursuant to this title by the State
Banking Department shall be paid into a special fund to be set up by the State Treasurer.
The special fund shall be used to pay the salaries of the officials and employees and the
expenses of the State Banking Department, including the purchase of equipment, vehicles, and
supplies necessary for the examination and supervision of banks, and all moneys deposited
therein are hereby appropriated for that purpose. The expenses of all...
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5-2A-6
Section 5-2A-6 Superintendent - Removal; removal of member of Banking Board. (a) The superintendent
or any member of the Banking Board may be removed from office by a vote of two thirds of the
members of the entire banking board for: (1) Neglect of duty; (2) Malfeasance; (3) Misfeasance;
(4) Extortion or corruption in office; (5) Incompetency; (6) Intemperance in the use of intoxicating
liquors or narcotics to such an extent, in view of the dignity of the office and the importance
of its duties, as to render such person unfit for the discharge of his duties; or (7) Any
offense involving moral turpitude while in office, committed under color thereof or connected
therewith. (b) The superintendent may also be removed from office, without cause, upon written
order of four appointed members of the Banking Board and the Governor. (Acts 1980, No. 80-658,
§5-2-8.)...
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5-3A-1
Section 5-3A-1 Required times; items to be examined; applicability to bank holding companies
and affiliates. (a) For purposes of this section, a bank holding company is a holding company
organized under the laws of Alabama or another state in the United States that directly owns
a majority of the voting securities of an Alabama state bank. (b) Every bank other than national
banks shall be subject to the supervision and inspection of the superintendent and the regulations
and supervision thereof. The superintendent shall, by competent examiner appointed by him
or her, visit and examine every bank organized under the laws of Alabama at least once in
each eighteen-month period. The examination of banks shall be at irregular intervals. On every
examination, inquiry shall be made as to the conditions and resources of the bank, the mode
of conducting and managing the affairs of the bank, the action of its directors, the investment
of the funds of the bank, the safety and prudence of the...
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5-3A-11
Section 5-3A-11 Reports of examination; meetings of Banking Board; confidentiality. All reports
of examination, records reflecting action of a bank or bank holding company, or affiliate
of either, taken pursuant thereto, and records and minutes of meetings of the Banking Board
relating to a bank or several banks or a bank holding company, or affiliate of either, shall
be confidential and shall not be subject to subpoena or inspection except by subpoena from
a grand jury served on the superintendent. (Acts 1980, No. 80-658, §5-3-11; Act 2011-589,
p. 1306, §1; Act 2013-352, p. 1261, §1.)...
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5-13B-11
Section 5-13B-11 Authority to issue regulations; cooperative agreements; fees. In order to
carry out the purposes of this title, in addition to and cumulative with the authority and
powers of the superintendent set forth elsewhere in this title, the superintendent may: (1)
Adopt regulations; (2) Enter into cooperative, coordinating, or information-sharing agreements
with any other bank supervisory agency or any organization affiliated with or representing
one or more bank supervisory agencies; (3) Accept any report of examination or investigation
by another bank supervisory agency having concurrent jurisdiction over an Alabama state bank
or a bank holding company that controls an Alabama state bank in lieu of conducting the superintendent's
own examination or investigation of such bank holding company or bank; (4) Enter into contracts
with any bank supervisory agency having concurrent jurisdiction over an Alabama state bank
or a bank holding company that controls an Alabama state bank...
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5-13B-42
Section 5-13B-42 General regulation authority. The superintendent, with the concurrence of
a majority of the members of the State Banking Board, is authorized and empowered to issue
such rules, regulations, and orders as the superintendent may deem necessary in order to perform
his or her duties and functions under this article and to administer and carry out the provisions
and purposes of this article and to prevent evasions thereof. (Acts 1995, No. 95-115, p. 134,
§24.)...
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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...
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40-16-1
Section 40-16-1 Definitions. For the purpose of this chapter, the following terms shall have
the respective meanings ascribed to them by this section: (1) FINANCIAL INSTITUTION. Any person,
firm, corporation, and any legal entity whatsoever doing business in this state as a national
banking association, bank, banking association, trust company, industrial or other loan company
or building and loan association, and such term shall likewise include any other institution
or person employing moneyed capital coming into competition with the business of national
banks, and shall apply to such person or institution regardless of what business form and
whether or not incorporated, whether of issue or not, and by whatsoever authority existing.
The common parent corporation of a controlled group of corporations eligible to elect to file
a consolidated excise tax return, in accordance with Section 40-16-3, shall be considered
a financial institution if such parent corporation is a registered bank...
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5-11A-33
Section 5-11A-33 Objection to transfer; hearing on objection; appointment of related institution
as agent. (a) Any person given notice pursuant to Section 5-11A-32 may file a written objection
to the fiduciary transfer with the Superintendent of the State Banking Department, stating
grounds for objection, within 30 days of receipt of notice of the transfer by the person notified
pursuant to Section 5-11A-32. The transferor shall then have 30 days to either: (1) Abandon
the transfer of fiduciary accounts to which objection was given and hold such transfer for
nought, or (2) Apply to the State Banking Department for a hearing on the merits of the objection
to transfer. After such hearing, the State Banking Department shall either approve or deny
the transfer. (b) Nothing herein shall preclude the transferor from appointing a related bank,
trust company or trust department as its agent for the performance of any and all fiduciary
obligations as provided in Section 5-11A-37. (Acts 1989,...
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5-3A-4
Section 5-3A-4 Expenses of special examinations. The expenses incidental to any special examination
of banks, bank holding companies, or their affiliates shall be borne by the bank or bank holding
company so examined, and such bank or bank holding company shall, on the call of the superintendent,
pay into the Treasury of Alabama, earmarked for the use of the Banking Department, within
10 days after said examination, an amount not exceeding the actual expenses of such examination,
including per diem, travel expenses and the pro rata portion of the salaries of the state
employees engaged in making such examination. (Acts 1980, No. 80-658, §5-3-4; Act 2011-589,
p. 1306, §1.)...
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