Title 5 — Title 5
0 chapters · 627 sections in this title.
Ala. Code § 5-6A-1 Directors of Banks to Own Stock in Bank; Citizenship and Residence of
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Directors. Not less than 75 percent of the directors of a bank shall, during their whole term of service, be citizens of the United States. Every director of a bank shall be the owner and holder of shares of stock in the bank or parent bank holding company. Every director shall h…
Ala. Code § 5-6A-2 Oath of Directors
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Every such director shall, within 30 days after his election, take and subscribe, in duplicate, an oath that he will diligently and honestly perform his duties as such director, not knowingly violate or permit to be violated any provision of the banking law of this state and that…
Ala. Code § 5-6A-20 Declaration of Illegal Dividends, Discounts of Notes, Etc
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Any director of a bank who knowingly concurs in any vote or act of the directors of such bank by which it is intended to pay a cash dividend except from the undivided profits arising from the business of the bank in violation of Section 5-5A-21, or to make or approve a loan with …
Ala. Code § 5-6A-21 Concealment of Loans, Purchase or Sale of Security, Etc
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Any officer or employee of a bank who intentionally conceals from the directors or a committee of such bank where the directors have delegated authority to a committee to pass on loans and discounts, any discount or loan made for and in behalf of the bank between the regular meet…
Ala. Code § 5-6A-22 Overdrawing Own Account; Receipt of Commissions, Etc., to Procure
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Loans, Discounts, Etc. Any officer, director, or employee of a bank who willfully and knowingly overdraws his account with such bank and thereby obtains money or funds of any such bank except as the superintendent shall allow by regulation, or asks, receives, consents or agrees t…
Ala. Code § 5-6A-23 Receipt or Possession of Bank Property with Intent to Defraud, Etc
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Any director, officer or employee of a bank who knowingly receives or possesses himself of any of its property otherwise than in payment for a just demand and with intent to defraud shall be guilty of a felony. History: (Acts 1980, No. 80-658, §5-6-23.)
Ala. Code § 5-6A-24 Making of False Entries, Etc., on Books and Accounts of Bank
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Any director, officer or employee of a bank who with intent to defraud makes or concurs in making any false entry, or with intent to defraud omits or concurs in omitting to make any material entry on its books and accounts, shall be guilty of a felony. History: (Acts 1980, No. 80…
Ala. Code § 5-6A-25 Fraudulent Representation as to Capital, False Reports, Etc., as to
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Condition of Bank, Etc. Any director, officer, or employee of a bank who knowingly, by newspaper advertisement or otherwise, represents its capital to be in excess of the actual capital accounts or knowingly concurs in making or publishing any materially false written report, exh…
Ala. Code § 5-6A-26 Loans or Extension of Credit to Bank Officers and Employees
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An officer or employee of any bank who shall in any way obtain as a borrower any of the funds of such bank without having first complied with the requirements of this section must on conviction be punished as if he had embezzled the amount borrowed. Any loan obtained by an office…
Ala. Code § 5-6A-3 Meeting of Board of Directors; Bonds of Officers and Employees of
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Banks. (a) The board of directors of any bank shall hold regular meetings at such time as may be fixed by the bylaws, at least once every two months, and shall at all times be subject to call by the president or by any two members of the board. Notwithstanding contrary provision …