Title 5 — Title 5
0 chapters · 627 sections in this title.
Ala. Code § 5-10A-1 Authorization or Direction of Banks to Postpone Paying Liabilities,
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Segregate Deposits and Assets, Renew Loans, Etc. The superintendent with the concurrence of not less than two other members of the Banking Board, or any three members of the Banking Board without action by said superintendent, are hereby authorized and empowered, in addition to a…
Ala. Code § 5-10A-10 Segregation of Assets - Commingling of Items in Classes of Deposits
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Within any class of deposits in any bank for the purpose of which class particular assets are segregated, the separate items may be mingled and commingled. History: (Acts 1980, No. 80-658, §5-10-11.)
Ala. Code § 5-10A-11 Segregation of Assets - Adjustments; Identification of Segregated Items
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Whenever any bank is required to segregate particular assets under any rule or regulation promulgated or extended or modified under this chapter, it shall accomplish such segregation as promptly as reasonably possible and shall at and as of the close of business on each banking d…
Ala. Code § 5-10A-12 Discharge of Deposits of Script, Clearinghouse Certificates or
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Emergency Currency. Any deposit of script, clearinghouse certificates or emergency currency in any form or of any order on any such deposit shall be dischargeable in whole or in part either in kind or in legal tender of the United States of a value no greater than the current exc…
Ala. Code § 5-10A-13 Issuance and Reissuance of Script, Clearinghouse Certificates or
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Emergency Currency. The superintendent with the concurrence of not less than two other members of the Banking Board, or any three members of the Banking Board without action by said superintendent may from time to time authorize any bank singly or by groups, to issue and reissue …
Ala. Code § 5-10A-14 Issuance of Notes or Certificates of Indebtedness as Evidence of
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Compensation for Services or Labor During Banking Emergency. Where a banking emergency has been proclaimed by the superintendent and until such time as such emergency is declared to have ended by proclamation of the superintendent, it shall be lawful for the state or any politica…
Ala. Code § 5-10A-15 Authorization and Approval of Reorganization of Bank Without
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Receivership Liquidation. The superintendent with the concurrence of not less than two other members of the Banking Board or any three members of the Banking Board without action by said superintendent are hereby further authorized and empowered to approve and authorize any bank …
Ala. Code § 5-10A-16 Compliance with Chapter, Federal Laws, Etc., Not to Entail Liability
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No bank nor any surety or guarantor of any bank shall suffer any penalty or liability for damages or increase of liability or be in default, nor shall any maker, endorser, guarantor or other party or person be released from liability or obligation or be in default by reason of a …
Ala. Code § 5-10A-17 Officers Not to Incur Liability or Penalties for Compliance with Orders of
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Superintendent, Federal Laws, Etc. No public officer or surety on his official bond shall suffer any penalty or liability for damages or increase of liability or be in default by reason of any failure on his part to perform any act or duty where such failure is due to compliance …
Ala. Code § 5-10A-2 Promulgation of Rules and Regulations; Requirements of Reports, Etc.,
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Generally. The superintendent with the concurrence of not less than two members of the Banking Board, or any three members of the Banking Board without action by said superintendent may authorize and empower any bank to act under the provisions of this chapter, and they are empow…
Ala. Code § 5-10A-3 Declaration of Banking Holidays; Promulgation of Emergency Rules or
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Regulations. Whenever, in the opinion of the superintendent it shall be deemed that an emergency exists, the superintendent with the concurrence of not less than two other members of the Banking Board, or any three members of the Banking Board without action by said superintenden…
Ala. Code § 5-10A-4 Extension, Etc., of Banking Holiday or Emergency Rules or
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Regulations. Any such bank holiday or any such rule or regulation may be extended, modified, suspended or terminated by the superintendent with the concurrence of not less than two other members of the Banking Board or by any three members of the Banking Board without action by s…
Ala. Code § 5-10A-5 Sections 5-10A-1 through 5-10A-4 Applicable Only in Emergencies;
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Duration of Emergency Action. The provisions of Sections 5-10A-1 through 5-10A-4 authorize actions to be taken during an emergency. Any action taken pursuant to these sections shall be reported to the Banking Board and shall automatically terminate upon the expiration of 120 days…
Ala. Code § 5-10A-6 Operation of Banks Under Federal Laws
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Any bank may do any and all things necessary or desirable to permit it to operate under the provisions of any act of Congress of the United States now or hereafter enacted. History: (Acts 1980, No. 80-658, §5-10-7.)
Ala. Code § 5-10A-7 Payment of Expenses of Bank Operating Without Receivership
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Liquidation. Whenever, pursuant to any provision of this chapter, any bank is authorized to do any one or more of the things specified in this chapter without receivership liquidation, its operating expenses, including compensation to officers and employees, shall be payable as a…
Ala. Code § 5-10A-8 Segregation of Assets - Manner of Segregation Generally; Distribution
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of Segregated Assets Upon Receivership Liquidation of Bank. Whenever pursuant to any provision of state or federal law or of any rule or regulation by any state or federal authority made or adopted pursuant thereto or whenever pursuant to contractual arrangement any bank is under…
Ala. Code § 5-10A-9 Segregation of Assets - Manners of Segregation
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Whenever pursuant to any provision of state or federal law or of any rule or regulation by any state or federal authority made or adopted pursuant thereto, or whenever pursuant to contractual arrangement any bank is under duty or obligation to segregate particular items or assets…