Title 5 — Title 5
0 chapters · 627 sections in this title.
Ala. Code § 5-13B-1 Short Title
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This chapter shall be known and may be cited as the “Alabama Interstate and International Banking Act of 1995.” History: (Acts 1995, No. 95-115, p. 134, §1.)
Ala. Code § 5-13B-10 Penalties
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The superintendent may enforce the provisions of this article by any appropriate action in the circuit courts of this state, including an action for civil money penalties or injunctive relief, provided, that the superintendent shall promptly give notice to the home state regulato…
Ala. Code § 5-13B-100 Change of Control of Foreign Bank
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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 a notice, in such form and containing such information as the superintendent may prescribe, no later than …
Ala. Code § 5-13B-101 Relocation of Office; Written Notice Necessary
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(a) No foreign bank which is licensed to establish and maintain an Alabama state branch, Alabama state agency, or Alabama representative office shall relocate any such office unless the foreign bank provides prior written notice to the superintendent and the superintendent shall …
Ala. Code § 5-13B-102 Examination; Payment of Fees
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(a) An Alabama state branch, Alabama state agency, or Alabama representative office shall be subject to examination by the superintendent at such intervals and in such a manner as he or she shall establish by regulation or order. (b) In conducting an examination pursuant to this …
Ala. Code § 5-13B-103 Supervision and Enforcement
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(a) The superintendent shall have all of the powers granted to him or her by the laws of this state to the extent appropriate to enable him or her to supervise each Alabama state branch, Alabama state agency, or Alabama representative office. (b) If, after notice and a hearing, t…
Ala. Code § 5-13B-104 Reports
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(a) Each 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 such reports as and when the superintendent may require by regulation or order. (b) Each report fil…
Ala. Code § 5-13B-105 Confidentiality of Examination Reports
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(a) All reports of examinations and investigations, correspondence, and memoranda concerning or arising out of such examinations and investigations, including any duly authenticated copy or copies thereof in the possession of any foreign bank, shall not be subject to subpoena and…
Ala. Code § 5-13B-106 Books, Accounts, and Records
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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 maintain or make available at any such office appropriate books, accounts, and records reflecting (1) all transactions effected by o…
Ala. Code § 5-13B-107 Separate Assets
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(a) Each foreign bank which is licensed to establish and maintain an Alabama state branch or Alabama state agency in this state shall keep the assets of its business in this state separate and apart from the assets of its business outside this state. (b) The creditors of a foreig…
Ala. Code § 5-13B-108 Disclosure of Lack of Deposit Insurance
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Each foreign bank which is licensed to establish and maintain an Alabama state branch or Alabama state agency shall, in a manner established by the superintendent by regulation or order, give notice that deposits and credit balances in such office are not insured by the Federal D…
Ala. Code § 5-13B-109 Limitations on Payment of Interest on Deposits
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A foreign bank which is licensed to establish and maintain an Alabama state branch or Alabama state agency shall be subject to the same limitations with respect to the payment of interest on deposits as a state bank which is a member of the Federal Reserve System. History: (Acts …
Ala. Code § 5-13B-11 Authority to Issue Regulations; Cooperative Agreements; Fees
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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 a…
Ala. Code § 5-13B-110 Pledge of Assets
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(a) Each foreign bank which is licensed to establish and maintain an Alabama state branch or Alabama state agency shall keep on deposit, in accordance with such regulations or orders as the superintendent shall promulgate, with such unaffiliated Alabama banks as such foreign bank…
Ala. Code § 5-13B-111 Asset Maintenance
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(a) Each foreign bank which is licensed to establish and maintain an Alabama state branch or Alabama state agency shall hold in this state currency, bonds, notes, debentures, drafts, bills of exchange, or other evidences of indebtedness, including loan participation agreements or…
Ala. Code § 5-13B-112 Voluntary Closure of Branch, Agency, or Representative Office -
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Application. (a) No foreign bank which is licensed to establish and maintain an Alabama state branch, Alabama state agency, or Alabama representative office shall close such office without filing an application with, and obtaining the prior approval of, the superintendent. An app…
Ala. Code § 5-13B-113 Suspension or Revocation of License; Factors
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If, after notice and a hearing, the superintendent finds any of the following with respect to a foreign bank which is licensed to establish and maintain an Alabama state branch or Alabama state agency, he or she may issue an order suspending or revoking the license of such foreig…
Ala. Code § 5-13B-114 Immediate Suspension or Revocation
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If the superintendent finds that any of the factors set forth in Section 5-13B-113 are true with respect to any foreign bank which is licensed to maintain an Alabama state branch or Alabama state agency and that it is necessary for the protection of the interests of creditors of …
Ala. Code § 5-13B-115 Seizure of Foreign Bank’s Property and Business; Liquidation
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(a) If the superintendent finds that any of the factors set forth in Section 5-13B-113 are true with respect to any foreign bank which is licensed to establish and maintain an Alabama state branch or Alabama state agency and that it is necessary for the protection of the interest…
Ala. Code § 5-13B-130 Purpose
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This division is intended generally to ensure that interstate state branches of out-of- state foreign banks may be established and operated in this state (1) to the extent consistent with the provisions of Section 5 of the Federal International Banking Act and (2) under terms and…
Ala. Code § 5-13B-131 Establishment of Interstate Branches in This State by Out-of-State
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Foreign Banks. (a) Except as provided in subsection (b), an out-of-state foreign bank may establish an interstate Alabama state branch in the same manner, including by merger or other transactions under Section 44 of the Federal Deposit Insurance Act, and comparable provisions of…
Ala. Code § 5-13B-2 Definitions
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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 …
Ala. Code § 5-13B-20 Purpose
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It is the express intent of this article to permit interstate branching by merger under Section 102 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994, Public Law No. 103-328, in accordance with the provisions set forth in this article. History: (Acts 1995…
Ala. Code § 5-13B-21 Definitions
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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 Alabam…
Ala. Code § 5-13B-22 Establishment of Interstate Branches by Acquisition or Merger;
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Branching. With the prior approval of the superintendent, an Alabama state bank may establish, maintain, and operate one or more branches in a state other than Alabama or a foreign country on a de novo basis, by acquisition of a branch, or pursuant to an interstate merger transac…
Ala. Code § 5-13B-23 Interstate Merger Transactions and Branching; Operation of Branches
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(a) One or more Alabama state banks may enter into an interstate merger transaction with one or more out-of-state banks under this article, and an out-of- state bank resulting from such transaction may maintain and operate the branches in Alabama of an Alabama state bank that par…
Ala. Code § 5-13B-24 Notice and Filing Requirements
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Any out-of-state bank that will be the resulting bank pursuant to an interstate merger transaction involving an Alabama state bank shall notify the superintendent of the proposed merger not later than the date on which it files an application for an interstate merger transaction …
Ala. Code § 5-13B-25 Powers
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(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 …
Ala. Code § 5-13B-26 Examinations; Periodic Reports; Cooperative Agreements; Assessment
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of Fees. (a) To the extent consistent with subsection (c), the superintendent may make such examinations of any branch established and maintained in this state pursuant to this article by an out-of-state state bank as the superintendent may deem necessary to determine whether the…
Ala. Code § 5-13B-27 Enforcement
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If the superintendent determines that a branch maintained by an out-of-state state bank in this state is being operated in violation of any provision of the laws of this state, or that such branch is being operated in an unsafe and unsound manner, the superintendent shall have th…
Ala. Code § 5-13B-28 Regulations
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The superintendent may promulgate such regulations as he or she determines to be necessary or appropriate in order to implement the provisions of this article. History: (Acts 1995, No. 95-115, p. 134, §20.)
Ala. Code § 5-13B-29 Notice of Subsequent Merger, Etc
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Each out-of-state state bank that has established and maintains a branch in this state pursuant to this article, or the home state regulator of such bank, shall give at least 30 days’ prior written notice to the superintendent, or, in the case of an emergency transaction, such sh…
Ala. Code § 5-13B-3 Scope of Article and Statement of Legislative Intent
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This article sets forth the conditions under which a company may acquire an Alabama bank or an Alabama bank holding company or an Alabama bank holding company may acquire an out-of-state bank or bank holding company. This article is intended not to discriminate against out-of-sta…
Ala. Code § 5-13B-4 Permitted Acquisitions
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(a) No company may acquire an Alabama bank holding company or an Alabama state bank without the prior approval of the superintendent. (b) The approval of the superintendent under subsection (a) shall not be required where the acquisition is made: (1) In a transaction arranged by …
Ala. Code § 5-13B-40 Purpose
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(a) This article is intended generally to provide for state regulation of the participation by foreign banks in the financial markets of this state. (b) Consistent with the federal International Banking Act, the Bank Holding Company Act, the Federal Deposit Insurance Act, and the…
Ala. Code § 5-13B-41 Definitions
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For purposes of this article: (a) The term “bank” means any bank as defined in: Section 2(c) of the Bank Holding Company Act (12 U.S.C. §1841(c)); Section 3(a)(1) of the Federal Deposit Insurance Act (12 U.S.C. §1813(a)(1)), other than a branch of a foreign bank; or, as the conte…
Ala. Code § 5-13B-42 General Regulation Authority
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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 artic…
Ala. Code § 5-13B-5 Required Application
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(a) A company that proposes to make an acquisition under this article shall: (1) File with the superintendent a copy of the application that such company has filed with the responsible federal bank supervisory agency together with such additional information as the superintendent…
Ala. Code § 5-13B-6 Standards for Approval
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(a) In deciding whether to approve an application for a proposed acquisition under this article, the superintendent shall consider whether the acquisition may: (1) Be detrimental to the safety and soundness of the Alabama state bank or the Alabama bank holding company ; (2) Resul…
Ala. Code § 5-13B-60 Purpose
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This division is generally intended to ensure that the laws and regulations of this state applicable to the ownership and operations of Alabama banks, and interstate branches in this state of out-of-state banks, do not discriminate against such banks that are owned or controlled …
Ala. Code § 5-13B-61 Operations in This State of Banks Owned or Controlled by Foreign
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Banks and Other Foreign Persons. (a) Except as provided in subsection (b): (1) The laws and regulations of this state governing the acquisition or ownership of controlling or other interests in Alabama banks or in out-of-state banks seeking to establish and maintain one or more i…
Ala. Code § 5-13B-62 Citizenship and Residency Requirements for Directors of State Banks
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Notwithstanding any other provision of the laws and regulations of this state, the citizenship and residency requirements otherwise applicable to members of the board of directors of any Alabama bank may, in the case of an Alabama bank which is a subsidiary or affiliate of a fore…
Ala. Code § 5-13B-7 Procedures Relating to Applications
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(a) The superintendent shall decide whether to approve an acquisition under this article within 60 days after receipt of a completed application; provided, that if the superintendent requests additional information from the applicant following receipt of a completed application, …
Ala. Code § 5-13B-8 Reports; Examinations
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(a) To the extent specified by the superintendent by regulation, order, or written request, each bank holding company that directly or indirectly controls an Alabama state bank or an Alabama bank holding company, or the home state regulator of such company, shall submit to the su…
Ala. Code § 5-13B-80 Purpose
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Consistent with the federal International Banking Act, the Bank Holding Company Act, the Federal Deposit Insurance Act, and the Interstate Banking and Branching Efficiency Act, this division is intended: (1) To authorize banking activities and operations, under state licenses iss…
Ala. Code § 5-13B-81 Branches and Agencies of Foreign Banks - Necessity of Licensure
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(a) No foreign bank shall transact business in this state except at an Alabama state branch or Alabama state agency which it is licensed to establish and maintain pursuant to, and at which it conducts such activities as are permitted by, this article. (b) Subsection (a) shall not…
Ala. Code § 5-13B-82 Application to Establish and Maintain a Branch or Agency - Contents
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(a) A foreign bank, in order to procure a license under this article to establish and maintain an Alabama state branch or Alabama state agency shall submit an application to the superintendent. Such application shall contain: (1) The same information as required by the Board of G…
Ala. Code § 5-13B-83 Application to Establish and Maintain a Branch or Agency - Manner of
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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 regula…
Ala. Code § 5-13B-84 Application Fee
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Upon applying to the superintendent under this article for a license to establish and maintain an Alabama state branch or Alabama state agency, a foreign bank shall pay to the superintendent an application fee in such amount and in such manner as the superintendent shall require …
Ala. Code § 5-13B-85 No Concurrent Maintenance of Federal Branches or Agencies
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(a) No foreign bank which is licensed under this article to establish and maintain an Alabama state branch or Alabama state agency shall concurrently maintain a federal branch or federal agency in this state. (b) No foreign bank which maintains a federal branch or federal agency …