Title 5 — Title 5
0 chapters · 627 sections in this title.
Ala. Code § 5-13B-86 Powers of Branch and Agency
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(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…
Ala. Code § 5-13B-87 Fiduciary Activities
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(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 f…
Ala. Code § 5-13B-88 Authority to Act as Agent
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(a) An Alabama state branch or Alabama state agency of a foreign bank licensed under this article may receive deposits, renew time deposits, close loans, service loans, and receive payments on loans and other obligations as an agent for any depository institution affiliate of suc…
Ala. Code § 5-13B-89 Representative Office of Foreign Banks - Necessity of Licensure
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(a) No foreign bank shall establish or maintain an Alabama representative office unless such foreign bank is licensed by the superintendent to maintain such an Alabama representative office. (b) Nothing in subsection (a) shall be deemed to prohibit a foreign bank which maintains …
Ala. Code § 5-13B-9 Agency Activities
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(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 ser…
Ala. Code § 5-13B-90 Representative Office - Application
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(a) The application for a license to establish and maintain an Alabama representative office shall be in writing under oath and shall be in such form and contain such information as the superintendent may require by regulation or order. The application shall be accompanied by a r…
Ala. Code § 5-13B-91 Representative Office - Factors for Approval of Application
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(a) A foreign bank making an application for a license to establish and maintain an Alabama representative office shall deliver to the superintendent two, or more as the superintendent may require by regulation, duplicate originals of the foreign bank’s application. (b) The super…
Ala. Code § 5-13B-92 Representative Office - Permissible Activities
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(a) A foreign bank which is licensed to establish and maintain an Alabama representative office may, subject to such regulations as the superintendent may prescribe, engage in the following activities: (1) Solicitation for loans and in connection therewith the assembly of credit …
Ala. Code § 5-13B-93 Representative Office - Revocation of License
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The superintendent, after notice and opportunity for a hearing, may revoke a license to establish and maintain an Alabama representative office if he or she finds: (1) The foreign bank has violated any provision of this article or any other law, rule, or regulation of this state;…
Ala. Code § 5-13B-94 Posting of License
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Each foreign bank which is licensed to establish and maintain an Alabama state branch, Alabama state agency, or Alabama representative office shall post its license in a conspicuous place at such office. History: (Acts 1995, No. 95-115, p. 134, §42.)
Ala. Code § 5-13B-95 Licenses Not Transferable
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No license issued by the superintendent in accordance with this article shall be transferable or assignable. History: (Acts 1995, No. 95-115, p. 134, §43.)
Ala. Code § 5-13B-96 Appointment of Superintendent as Agent for Service of Process
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(a) A foreign bank which is licensed to establish and maintain an Alabama state branch, Alabama state agency, or Alabama representative office shall file with the superintendent an instrument irrevocably appointing the superintendent and his or her successors in office to be such…
Ala. Code § 5-13B-97 Service of Process
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(a) Service of any lawful process in any judicial or administrative proceeding against the foreign bank or any of its successors which arises out of the foreign bank’s activities in this state shall be made on the superintendent by delivering to and leaving with him or her, or wi…
Ala. Code § 5-13B-98 Filing of Amendments to Articles of Incorporation
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A foreign bank which is licensed to maintain an Alabama state branch or Alabama state agency, whenever its articles of incorporation are amended, shall forthwith file in the office of the superintendent a copy of such amendment duly authenticated by the proper officer of the coun…
Ala. Code § 5-13B-99 Amended License to Establish and Maintain a Branch or Agency
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(a) A foreign bank which is licensed to establish and maintain an Alabama state branch or Alabama state agency must secure an amended license if it changes its corporate name, changes the duration of its corporate existence, or desires to pursue in this state other or additional …