Search is not available for this dataset
url stringlengths 42 388 | state stringclasses 51
values | path stringlengths 83 10.4k | title stringlengths 34 2.24k | content stringlengths 0 2.39M |
|---|---|---|---|---|
https://law.justia.com/codes/alabama/title-5/chapter-3a/article-1/section-5-3a-11/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 3A - Examinations of Banks; Reports of Banks.›Article 1 - Examination of Banks.›Section 5-3A-11 - Reports of Examination; Meetings of Banking Board; Confidentiality. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 3A - Examinations of Banks; Reports of Banks. › Article 1 - Examination of Banks. › Section 5-3A-11 - Reports of Examination; Meetings of Banking Board; Confidentiality. | 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 b... |
https://law.justia.com/codes/alabama/title-5/chapter-3a/article-1/section-5-3a-12/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 3A - Examinations of Banks; Reports of Banks.›Article 1 - Examination of Banks.›Section 5-3A-12 - Semiannual Reports by Banks - Required; Verification. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 3A - Examinations of Banks; Reports of Banks. › Article 1 - Examination of Banks. › Section 5-3A-12 - Semiannual Reports by Banks - Required; Verification. | Section 5-3A-12
Semiannual reports by banks - Required; verification.
All banks shall make to the superintendent, on the call of the superintendent for such report, not less than two reports during each year, according to the form which may be prescribed by the superintendent. Such report must be verified by the oath o... |
https://law.justia.com/codes/alabama/title-5/chapter-3a/article-1/section-5-3a-13/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 3A - Examinations of Banks; Reports of Banks.›Article 1 - Examination of Banks.›Section 5-3A-13 - Semiannual Report by Banks - Special Reports of Banks. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 3A - Examinations of Banks; Reports of Banks. › Article 1 - Examination of Banks. › Section 5-3A-13 - Semiannual Report by Banks - Special Reports of Banks. | Section 5-3A-13
Semiannual report by banks - Special reports of banks.
The superintendent may call for a special report from any particular bank whenever, in his judgment, the same is deemed necessary for the protection of the public or for a full and complete knowledge of the condition of the bank by the superintenden... |
https://law.justia.com/codes/alabama/title-5/chapter-3a/article-1/section-5-3a-14/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 3A - Examinations of Banks; Reports of Banks.›Article 1 - Examination of Banks.›Section 5-3A-14 - Semiannual Report by Banks - Form; Publication; Penalty for Late Report. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 3A - Examinations of Banks; Reports of Banks. › Article 1 - Examination of Banks. › Section 5-3A-14 - Semiannual Report by Banks - Form; Publication; Penalty for Late Report. | Section 5-3A-14
Semiannual report by banks - Form; publication; penalty for late report.
Each report required by Section 5-3A-12 shall exhibit in detail and under appropriate head the resources and liabilities of each bank at the close of business on any past day specified by the superintendent, not more than five days... |
https://law.justia.com/codes/alabama/title-5/chapter-3a/article-1/section-5-3a-15/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 3A - Examinations of Banks; Reports of Banks.›Article 1 - Examination of Banks.›Section 5-3A-15 - Semiannual Reports by Banks - Republication. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 3A - Examinations of Banks; Reports of Banks. › Article 1 - Examination of Banks. › Section 5-3A-15 - Semiannual Reports by Banks - Republication. | Section 5-3A-15
Semiannual reports by banks - Republication.
If there are discrepancies in the published report of the bank and the sworn report furnished to the superintendent and if, in the opinion of the superintendent, the discrepancies are due to clerical errors, the superintendent shall notify the bank to republi... |
https://law.justia.com/codes/alabama/title-5/chapter-3a/article-1/section-5-3a-16/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 3A - Examinations of Banks; Reports of Banks.›Article 1 - Examination of Banks.›Section 5-3A-16 - Failure to Pay for Publication of Bank Report by Superintendent. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 3A - Examinations of Banks; Reports of Banks. › Article 1 - Examination of Banks. › Section 5-3A-16 - Failure to Pay for Publication of Bank Report by Superintendent. | Section 5-3A-16
Failure to pay for publication of bank report by superintendent.
Any bank which fails or refuses to pay the cost and expense of the publication by the superintendent of any report of the bank made in pursuance of the requirements of law shall pay to the state $100.00 plus cost of publication.
(Acts 1980... |
https://law.justia.com/codes/alabama/title-5/chapter-3a/article-1/section-5-3a-17/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 3A - Examinations of Banks; Reports of Banks.›Article 1 - Examination of Banks.›Section 5-3A-17 - Verification of False Report of Condition of Bank. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 3A - Examinations of Banks; Reports of Banks. › Article 1 - Examination of Banks. › Section 5-3A-17 - Verification of False Report of Condition of Bank. | Section 5-3A-17
Verification of false report of condition of bank.
Any person who knowingly and willfully signs or verifies by oath or affirmation any false report of the condition of a bank to the superintendent, on call of the superintendent for such report, shall be guilty of perjury.
(Acts 1980, No. 80-658, §5-3-17... |
https://law.justia.com/codes/alabama/title-5/chapter-3a/article-2/section-5-3a-30/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 3A - Examinations of Banks; Reports of Banks.›Article 2 - Examination of Bank Services Providers Act.›Section 5-3A-30 - Short Title. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 3A - Examinations of Banks; Reports of Banks. › Article 2 - Examination of Bank Services Providers Act. › Section 5-3A-30 - Short Title. | Section 5-3A-30
THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION, EFFECTIVE APRIL 4, 2018. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.
This article shall be known and may be cited as the Examination of Bank Service Providers Act.
(Act 2018-500, §2.) |
https://law.justia.com/codes/alabama/title-5/chapter-3a/article-2/section-5-3a-31/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 3A - Examinations of Banks; Reports of Banks.›Article 2 - Examination of Bank Services Providers Act.›Section 5-3A-31 - Legislative Findings. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 3A - Examinations of Banks; Reports of Banks. › Article 2 - Examination of Bank Services Providers Act. › Section 5-3A-31 - Legislative Findings. | Section 5-3A-31
THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION, EFFECTIVE APRIL 4, 2018. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.
The Legislature finds and declares that the connections between banks and service providers create risks to the financial system, as banks are increasingly... |
https://law.justia.com/codes/alabama/title-5/chapter-3a/article-2/section-5-3a-32/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 3A - Examinations of Banks; Reports of Banks.›Article 2 - Examination of Bank Services Providers Act.›Section 5-3A-32 - Definitions. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 3A - Examinations of Banks; Reports of Banks. › Article 2 - Examination of Bank Services Providers Act. › Section 5-3A-32 - Definitions. | Section 5-3A-32
THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION, EFFECTIVE APRIL 4, 2018. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.
For the purposes of this article, the following terms shall have the following meanings:
(1) SERVICE PROVIDER. Any person, company, corporation, or other l... |
https://law.justia.com/codes/alabama/title-5/chapter-3a/article-2/section-5-3a-33/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 3A - Examinations of Banks; Reports of Banks.›Article 2 - Examination of Bank Services Providers Act.›Section 5-3A-33 - Regulation and Examination of Certain Service Providers; Covered Services. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 3A - Examinations of Banks; Reports of Banks. › Article 2 - Examination of Bank Services Providers Act. › Section 5-3A-33 - Regulation and Examination of Certain Service Providers; Covered Services. | Section 5-3A-33
THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION, EFFECTIVE APRIL 4, 2018. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.
(a) Whenever a serviced bank causes to be performed for itself, by contract or otherwise, any of the covered services listed in this section, the performan... |
https://law.justia.com/codes/alabama/title-5/chapter-3a/article-2/section-5-3a-34/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 3A - Examinations of Banks; Reports of Banks.›Article 2 - Examination of Bank Services Providers Act.›Section 5-3A-34 - Confidentiality of Examination Reports; Availability of Copies. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 3A - Examinations of Banks; Reports of Banks. › Article 2 - Examination of Bank Services Providers Act. › Section 5-3A-34 - Confidentiality of Examination Reports; Availability of Copies. | Section 5-3A-34
THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION, EFFECTIVE APRIL 4, 2018. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.
Examination reports of service providers created or obtained by the superintendent or State Banking Department are confidential subject to Sections 5-3A-3 ... |
https://law.justia.com/codes/alabama/title-5/chapter-3a/article-2/section-5-3a-35/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 3A - Examinations of Banks; Reports of Banks.›Article 2 - Examination of Bank Services Providers Act.›Section 5-3A-35 - Powers of Superintendent. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 3A - Examinations of Banks; Reports of Banks. › Article 2 - Examination of Bank Services Providers Act. › Section 5-3A-35 - Powers of Superintendent. | Section 5-3A-35
THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION, EFFECTIVE APRIL 4, 2018. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.
(a) The superintendent may enter into agreements, which shall be deemed sole source, one vendor, and one supplier contracts under the procurement laws of t... |
https://law.justia.com/codes/alabama/title-5/chapter-4a/section-5-4a-1/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 4A - Retention of Bank Records.›Section 5-4A-1 - Certain Records to Be Retained; Disposition of Records After Retention for Prescrib... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 4A - Retention of Bank Records. › Section 5-4A-1 - Certain Records to Be Retained; Disposition of Records After Retention for Prescribed Period; Reproduction of Records and Books. | Section 5-4A-1
Certain records to be retained; disposition of records after retention for prescribed period; reproduction of records and books.
(a) Every bank shall retain its business records for such periods as may be prescribed by regulation adopted pursuant to Section 5-2A-9.
(b) Any bank may dispose of any records... |
https://law.justia.com/codes/alabama/title-5/chapter-4a/section-5-4a-2/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 4A - Retention of Bank Records.›Section 5-4A-2 - Applicability of Chapter to State and National Banks, Etc. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 4A - Retention of Bank Records. › Section 5-4A-2 - Applicability of Chapter to State and National Banks, Etc. | Section 5-4A-2
Applicability of chapter to state and national banks, etc.
This chapter shall be applicable to banks and, to the extent that they are not in contravention of any law or regulation of the United States, the provisions of this chapter shall apply and inure to the benefit of national banking associations do... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-1/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-1 - Procedure for Incorporation - Application for Permit. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-1 - Procedure for Incorporation - Application for Permit. | Section 5-5A-1
Procedure for incorporation - Application for permit.
(a) The proposed incorporators of a bank shall execute and acknowledge an application for a permit in writing in the form prescribed by the superintendent and shall file the same in the office of the State Banking Department, which application shall b... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-2/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-2 - Procedure for Incorporation - Notice of Intention to Incorporate. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-2 - Procedure for Incorporation - Notice of Intention to Incorporate. | Section 5-5A-2
Procedure for incorporation - Notice of intention to incorporate.
Before a bank can become incorporated under the laws of Alabama, a notice of intention to organize such bank shall be published once a week for three successive weeks in the newspaper designated by the superintendent. Such notice shall spe... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-3/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-3 - Procedure for Incorporation - Affidavit of Proposed Incorporators; Affidavit of Pro... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-3 - Procedure for Incorporation - Affidavit of Proposed Incorporators; Affidavit of Proposed Stockholders; Submission of Proposed Certificate of Incorporation; Disclosure to Stockholders... | Section 5-5A-3
Procedure for incorporation - Affidavit of proposed incorporators; affidavit of proposed stockholders; submission of proposed certificate of incorporation; disclosure to stockholders.
After the notice of intention to incorporate has been published, the parties named as proposed incorporators in the publi... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-4/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-4 - Procedure for Incorporation - Investigation as to Fitness of Stockholders and Execu... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-4 - Procedure for Incorporation - Investigation as to Fitness of Stockholders and Executive Officers and Necessity for Banks. | Section 5-5A-4
Procedure for incorporation - Investigation as to fitness of stockholders and executive officers and necessity for banks.
The superintendent shall ascertain whether the character and general fitness of the persons named as proposed incorporators, proposed stockholders and proposed executive officers in t... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-5/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-5 - Procedure for Incorporation - Filing of Objections to Incorporation of Proposed Ban... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-5 - Procedure for Incorporation - Filing of Objections to Incorporation of Proposed Bank; Investigation of Objections. | Section 5-5A-5
Procedure for incorporation - Filing of objections to incorporation of proposed bank; investigation of objections.
Any bank doing business in the community or any reputable citizen in the community may file with the superintendent an objection to the incorporation of the proposed bank, provided that the ... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-6/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-6 - Procedure for Incorporation - Certificate of Superintendent of Banks Authorizing Fi... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-6 - Procedure for Incorporation - Certificate of Superintendent of Banks Authorizing Filing of Certificate of Incorporation. | Section 5-5A-6
Procedure for incorporation - Certificate of Superintendent of Banks authorizing filing of certificate of incorporation.
If the superintendent shall be satisfied from his investigation that the character and general fitness of the persons named as stockholders and executive officers are such as to comman... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-7/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-7 - Procedure for Incorporation - Filing and Recordation of Certificate of Incorporatio... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-7 - Procedure for Incorporation - Filing and Recordation of Certificate of Incorporation. | Section 5-5A-7
Procedure for incorporation - Filing and recordation of certificate of incorporation.
The official or officials designated by the business corporation laws to file certificates of incorporation shall, upon the certificate of incorporation being duly signed by the incorporators and proof being duly made a... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-8/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-8 - Procedure for Incorporation - Refusal to Permit Incorporation; Appeal From Refusal... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-8 - Procedure for Incorporation - Refusal to Permit Incorporation; Appeal From Refusal to Banking Board. | Section 5-5A-8
Procedure for incorporation - Refusal to permit incorporation; appeal from refusal to Banking Board.
If the superintendent is of the opinion from his investigation that the character and general fitness of the persons named as stockholders or executive officers are such as not to command the confidence o... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-9/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-9 - Procedure for Incorporation - Judicial Review. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-9 - Procedure for Incorporation - Judicial Review. | Section 5-5A-9
Procedure for incorporation - Judicial review.
Nothing in this chapter shall be construed to prevent the Circuit Court of Montgomery County, as provided by law, from reviewing and reversing either the action of the Banking Board in granting or refusing a charter or permitting the organization of a new ba... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-10/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-10 - Permit to Transact Business - Required. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-10 - Permit to Transact Business - Required. | Section 5-5A-10
Permit to transact business - Required.
No bank shall engage in the banking business until it shall have received from the superintendent a permit to transact a banking business. Any person who shall hereafter transact any business as an officer or agent of any bank hereafter incorporated, before such b... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-11/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-11 - Permit to Transact Business - Examination; Issuance and Recordation of Permit. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-11 - Permit to Transact Business - Examination; Issuance and Recordation of Permit. | Section 5-5A-11
Permit to transact business - Examination; issuance and recordation of permit.
The superintendent shall, before issuing his permit to any bank to commence business under the application provided for in Section 5-5A-1, examine or cause an examination to be made in order to ascertain whether the requisite... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-12/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-12 - Membership in Federal Deposit Insurance Corporation, Etc. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-12 - Membership in Federal Deposit Insurance Corporation, Etc. | Section 5-5A-12
Membership in federal deposit insurance corporation, etc.
All banks now or hereafter operating under the laws of this state shall be members of the Federal Deposit Insurance Corporation or such other agency as may be created to insure the deposits of such bank.
(Acts 1980, No. 80-658, §5-5-12.) |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-13/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-13 - Filing Fee; Other Fees. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-13 - Filing Fee; Other Fees. | Section 5-5A-13
Filing fee; other fees.
(a) The Banking Board shall from time to time fix the amount of the fee for filing an application for a new bank, and for:
(1) Establishment of a branch of an existing bank;
(2) Conversion of a national bank to a state bank;
(3) A merger of two or more existing banks;
(4) Establi... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-14/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-14 - Capital - Minimum Amount Required for Incorporation of Bank. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-14 - Capital - Minimum Amount Required for Incorporation of Bank. | Section 5-5A-14
Capital - Minimum amount required for incorporation of bank.
(a) No bank hereafter organized under the laws of Alabama shall have total initial capital accounts actually paid in of less than $800,000.00.
(b) The superintendent may require a higher amount of capital accounts and where the bank will have ... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-15/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-15 - Capital - Increase or Decrease. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-15 - Capital - Increase or Decrease. | Section 5-5A-15
Capital - Increase or decrease.
Any bank shall with the consent of the superintendent have power and authority to increase or decrease its authorized capital in the manner provided for a corporation under the business corporation laws of this state.
(Acts 1980, No. 80-658, §5-5-15.) |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-16/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-16 - Issuance of Capital Notes and Debentures. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-16 - Issuance of Capital Notes and Debentures. | Section 5-5A-16
Issuance of capital notes and debentures.
No bank shall issue capital notes or capital debentures except with the prior written approval of the superintendent under such conditions as he may impose.
(Acts 1980, No. 80-658, §5-5-16.) |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-17/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-17 - Amendment of Certificate of Incorporation; Approval of Amended Certificate of Inco... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-17 - Amendment of Certificate of Incorporation; Approval of Amended Certificate of Incorporation. | Section 5-5A-17
Amendment of certificate of incorporation; approval of amended certificate of incorporation.
A bank may amend its certificate of incorporation in the manner provided by the laws governing business corporations. No proposed amendment of a certificate of incorporation of a bank is valid unless approved in... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-18/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-18 - Powers of Banks Generally. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-18 - Powers of Banks Generally. | Section 5-5A-18
Powers of banks generally.
Corporations formed for the purpose of doing business as a bank may:
(1) Discount bills, notes or other evidences of debt;
(2) Receive and pay out deposits, with or without interest, pay checks, and impose charges for any services;
(3) Receive on special deposit money, bullion... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-18-1/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-18.1 - Banks and Trust Companies to Have Power of Federally Chartered or Regulated Fina... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-18.1 - Banks and Trust Companies to Have Power of Federally Chartered or Regulated Financial Institution. | Section 5-5A-18.1
Banks and trust companies to have power of federally chartered or regulated financial institution.
In addition to all other rights and powers provided under this title, banks and trust companies chartered by this state and supervised by the superintendent and banks or trust companies chartered by any ... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-19/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-19 - Reserves. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-19 - Reserves. | Section 5-5A-19
Reserves.
(a) A bank which is not a member of the Federal Reserve System shall maintain at all times a reserve fund in an amount fixed by resolution of the Banking Board. The amount of the required reserve for each day shall be computed on the basis of average daily deposits covering such biweekly or sh... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-20/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-20 - Branch Banks; Commercial Affiliates. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-20 - Branch Banks; Commercial Affiliates. | Section 5-5A-20
Branch banks; commercial affiliates.
(a) Alabama banks may establish a branch or office for the transaction of the banking business within the State of Alabama upon prior approval of the superintendent. Alabama banks may establish a branch or office for the transaction of a banking business in any state... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-21/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-21 - Surplus; Restriction on Dividends. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-21 - Surplus; Restriction on Dividends. | Section 5-5A-21
Surplus; restriction on dividends.
Every bank shall transfer to surplus each year at least 10 percent of its net earnings until the surplus of such bank shall be equal to at least 20 percent of its capital, and it shall be unlawful for such bank to declare or pay a dividend in excess of 90 percent of th... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-22/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-22 - Limits of Indebtedness. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-22 - Limits of Indebtedness. | Section 5-5A-22
Limits of indebtedness.
(a) No bank shall make a loan to any one person which, when combined with all other loans to such person, would cause total loans to that person to exceed:
(1) Ten percent of the capital accounts of the bank, if such loans are not secured, or
(2) Twenty percent of the capital acc... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-23/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-23 - Investments and Loans With Respect to Housing. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-23 - Investments and Loans With Respect to Housing. | Section 5-5A-23
Investments and loans with respect to housing.
(a) Banks, insurance companies and savings and loan associations are authorized:
(1) To make such loans and advances of credit and purchases of obligations representing loans and advances of credit as are eligible for insurance and to obtain such insurance;... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-25/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-25 - Acceptance of Drafts or Bills of Exchange Arising From Transactions Involving Ship... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-25 - Acceptance of Drafts or Bills of Exchange Arising From Transactions Involving Shipment of Goods - Authority. | Section 5-5A-25
Acceptance of drafts or bills of exchange arising from transactions involving shipment of goods - Authority.
Any bank in Alabama may accept drafts or bills of exchange drawn upon it, having not more than six months' sight to run, exclusive of days of grace, which grew out of transactions involving the i... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-26/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-26 - Acceptance of Drafts or Bills of Exchange Arising From Transactions Involving Ship... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-26 - Acceptance of Drafts or Bills of Exchange Arising From Transactions Involving Shipment of Goods - Limitations. | Section 5-5A-26
Acceptance of drafts or bills of exchange arising from transactions involving shipment of goods - Limitations.
No bank shall accept, whether in a foreign or domestic transaction, for any one person, company, firm or corporation, to an amount equal at any time in the aggregate to more than 10 percent of ... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-27/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-27 - Loans Secured by Own Stock; Purchase of Own Stock; Ownership of Capital Stock of O... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-27 - Loans Secured by Own Stock; Purchase of Own Stock; Ownership of Capital Stock of Other Banks. | Section 5-5A-27
Loans secured by own stock; purchase of own stock; ownership of capital stock of other banks.
No bank shall make a loan taking its own stock as security therefor or directly or indirectly purchase shares of its own stock, except in pursuance of provisions of law for reducing its capital stock. No bank s... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-28/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-28 - Pledge of Assets. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-28 - Pledge of Assets. | Section 5-5A-28
Pledge of assets.
No bank may pledge assets as security for deposits, except any bank is authorized to pledge acceptable assets as security for deposits of trust funds deposited by its trust department and of public funds, heretofore or hereafter deposited, by the United States or any agency or governme... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-29/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-29 - Security Not Required When Deposits Insured. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-29 - Security Not Required When Deposits Insured. | Section 5-5A-29
Security not required when deposits insured.
Notwithstanding any provision of law of this state or of any political subdivision of the state or any agency or governmental instrumentality of such subdivision requiring security for deposits in the form of collateral, surety bond or in any other form, secu... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-30/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-30 - Transactions of Business on Legal Holidays; Use of Automated Teller Machine or Oth... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-30 - Transactions of Business on Legal Holidays; Use of Automated Teller Machine or Other Instrumentality, Transaction Fees, Disclosure; Limitation on Contractual Fee Restrictions, Inten... | Section 5-5A-30
Transactions of business on legal holidays; use of automated teller machine or other instrumentality, transaction fees, disclosure; limitation on contractual fee restrictions, intent of limitation, applicability.
(a) Any bank may lawfully receive deposits or paychecks or sight drafts and transact any ot... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-31/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-31 - Liability for Transactions on Legal Holidays. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-31 - Liability for Transactions on Legal Holidays. | Section 5-5A-31
Liability for transactions on legal holidays.
A bank shall be liable for and chargeable with deposits received and other business transacted on a legal holiday the same as if such deposit were received or business transacted on a legal banking day and shall have the same protection for payment of checks... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-32/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-32 - Closing of Banks, etc., Permitted on One Business Day of Each Week. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-32 - Closing of Banks, etc., Permitted on One Business Day of Each Week. | Section 5-5A-32
Closing of banks, etc., permitted on one business day of each week.
(a) Any bank or any branch or branches thereof may close on any one business day of each week and shall have this right even though there shall fall in such week a holiday as established in Section 1-3-8. If the superintendent should de... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-33/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-33 - Bank to Pay Checks Drawn on It at Par. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-33 - Bank to Pay Checks Drawn on It at Par. | Section 5-5A-33
Bank to pay checks drawn on it at par.
Any bank shall pay all checks drawn on it and transmitted in a cash letter at par and shall make no charge for the payment of such checks the first time presented to it for payment.
(Acts 1980, No. 80-658, §5-5-33.) |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-35/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-35 - Agreements Between Principal and Sureties on Bond for Deposit of Money and Assets... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-35 - Agreements Between Principal and Sureties on Bond for Deposit of Money and Assets in Bank, Etc. | Section 5-5A-35
Agreements between principal and sureties on bond for deposit of money and assets in bank, etc.
It shall be lawful for any party of whom a bond, undertaking or other obligation is required to agree with his surety or sureties for the deposit of any or all money and assets for which he and his surety or ... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-36/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-36 - Notice Upon Maturity of Certificate of Deposit Issued for More Than 90 Days. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-36 - Notice Upon Maturity of Certificate of Deposit Issued for More Than 90 Days. | Section 5-5A-36
Notice upon maturity of certificate of deposit issued for more than 90 days.
In the case of certificates of deposit issued for more than 90 days which are automatically renewable, a bank shall send within a reasonable period, but in no event less than five days before the next maturity, a written notice... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-37/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-37 - Rights of Minors. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-37 - Rights of Minors. | Section 5-5A-37
Rights of minors.
A minor may make, in her or his own name, a deposit in any bank, and such deposit may be general or special, and shall be paid only to such minor, or upon his or her order, and not to the parents or guardians of such minor, and such payment shall be valid as against the minor child, hi... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-38/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-38 - Disposition of Small Deposits of Deceased Person - to Whom Payable; When Bond Requ... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-38 - Disposition of Small Deposits of Deceased Person - to Whom Payable; When Bond Required. | Section 5-5A-38
Disposition of small deposits of deceased person - To whom payable; when bond required.
Whenever a person shall die leaving deposits in a bank not exceeding $5,000.00 in the aggregate, the bank may in its discretion discharge itself from liability thereafter by paying the deposits to the surviving spous... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-39/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-39 - Disposition of Small Deposits of Deceased Person - Time for Payment; When Payment... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-39 - Disposition of Small Deposits of Deceased Person - Time for Payment; When Payment Prohibited. | Section 5-5A-39
Disposition of small deposits of deceased person - Time for payment; when payment prohibited.
No payment shall be made pursuant to Section 5-5A-38 by the bank before the lapse of 60 days from the date of the death of the deceased, and no payment shall be made by the bank under this section if letters te... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-40/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-40 - Disposition of Deposit in Trust for Another Upon Death of Trustee. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-40 - Disposition of Deposit in Trust for Another Upon Death of Trustee. | Section 5-5A-40
Disposition of deposit in trust for another upon death of trustee.
Whenever any deposit shall be made in any bank by any person in trust for another and no other or further notice of the existence and terms of a legal and valid trust shall have been given in writing to and received by the bank, in the e... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-41/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-41 - Payment of Deposits Made in Names of Two Persons Upon Death of One; More Than Two... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-41 - Payment of Deposits Made in Names of Two Persons Upon Death of One; More Than Two Persons With Provision for Survivorship. | Section 5-5A-41
Payment of deposits made in names of two persons upon death of one; more than two persons with provision for survivorship.
(a) Any deposit heretofore or hereafter made in any bank in the names of two or more persons payable to any of such persons, upon the death of either of said persons, may be paid by... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-42/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-42 - Adverse Claims to Deposits. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-42 - Adverse Claims to Deposits. | Section 5-5A-42
Adverse claims to deposits.
Notice to any bank of an adverse claim to a deposit standing on its books to the credit of any person shall not be effectual to cause said bank to recognize said adverse claimant unless said adverse claimant shall also either procure a restraining order, injunction or other a... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-43/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-43 - Disclosure of Customer Financial Records. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-43 - Disclosure of Customer Financial Records. | Section 5-5A-43
Disclosure of customer financial records.
A bank shall disclose financial records of its customers pursuant to a lawful subpoena, summons, warrant or court order issued by or at the request of any state agency, political subdivision, instrumentality, or officer or employee thereof and served upon the ba... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-44/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-44 - Acquisition of Majority of Voting Shares of a Bank; Procedure. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-44 - Acquisition of Majority of Voting Shares of a Bank; Procedure. | Section 5-5A-44
Acquisition of majority of voting shares of a bank; procedure.
(a) No person, acting directly or indirectly or through or in concert with one or more persons, may acquire control of a state bank or of any corporation or other entity having control of a state bank, unless an application is filed with the... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-45/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-45 - Initiation of Run on Banks, Etc. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-45 - Initiation of Run on Banks, Etc. | Section 5-5A-45
Initiation of run on banks, etc.
Any person or persons whose business it is, either as individuals, agents or officers of banks, to receive checks, drafts and demands, when the same are not entitled to days of grace, upon any bank, and who receives the same, for collection and retains the same for an un... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-46/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-46 - False, etc., Statements, etc., Affecting Financial Standing of Bank. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-46 - False, etc., Statements, etc., Affecting Financial Standing of Bank. | Section 5-5A-46
False, etc., statements, etc., affecting financial standing of bank.
Any person who shall willfully and maliciously make, circulate or transmit to another or others any false, libelous or slanderous statement, rumor or suggestion written, printed or by word of mouth which is directly or by inference der... |
https://law.justia.com/codes/alabama/title-5/chapter-5a/section-5-5a-47/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 5A - Organization and Operation of Banks.›Section 5-5A-47 - Liability of Directors or Officers; Enforcement Powers of Superintendent. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 5A - Organization and Operation of Banks. › Section 5-5A-47 - Liability of Directors or Officers; Enforcement Powers of Superintendent. | Section 5-5A-47
Liability of directors or officers; enforcement powers of superintendent.
If the directors or officers of any bank knowingly and willfully violate or knowingly and willfully permit any of the officers, agents, or employees of the bank to violate any of the provisions of this title, each and every direct... |
https://law.justia.com/codes/alabama/title-5/chapter-6a/article-1/section-5-6a-1/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 6A - Directors, Officers, and Employees.›Article 1 - General Provisions.›Section 5-6A-1 - Directors of Banks to Own Stock in Bank; Citizenship and Residence of Directors. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 6A - Directors, Officers, and Employees. › Article 1 - General Provisions. › Section 5-6A-1 - Directors of Banks to Own Stock in Bank; Citizenship and Residence of Directors. | Section 5-6A-1
Directors of banks to own stock in bank; citizenship and residence of 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... |
https://law.justia.com/codes/alabama/title-5/chapter-6a/article-1/section-5-6a-2/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 6A - Directors, Officers, and Employees.›Article 1 - General Provisions.›Section 5-6A-2 - Oath of Directors. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 6A - Directors, Officers, and Employees. › Article 1 - General Provisions. › Section 5-6A-2 - Oath of Directors. | Section 5-6A-2
Oath of directors.
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 he is... |
https://law.justia.com/codes/alabama/title-5/chapter-6a/article-1/section-5-6a-3/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 6A - Directors, Officers, and Employees.›Article 1 - General Provisions.›Section 5-6A-3 - Meeting of Board of Directors; Bonds of Officers and Employees of Banks. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 6A - Directors, Officers, and Employees. › Article 1 - General Provisions. › Section 5-6A-3 - Meeting of Board of Directors; Bonds of Officers and Employees of Banks. | Section 5-6A-3
Meeting of board of directors; bonds of officers and employees of 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 b... |
https://law.justia.com/codes/alabama/title-5/chapter-6a/article-2/section-5-6a-20/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 6A - Directors, Officers, and Employees.›Article 2 - Prohibited Acts.›Section 5-6A-20 - Declaration of Illegal Dividends, Discounts of Notes, Etc. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 6A - Directors, Officers, and Employees. › Article 2 - Prohibited Acts. › Section 5-6A-20 - Declaration of Illegal Dividends, Discounts of Notes, Etc. | Section 5-6A-20
Declaration of illegal dividends, discounts of notes, etc.
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,... |
https://law.justia.com/codes/alabama/title-5/chapter-6a/article-2/section-5-6a-21/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 6A - Directors, Officers, and Employees.›Article 2 - Prohibited Acts.›Section 5-6A-21 - Concealment of Loans, Purchase or Sale of Security, Etc. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 6A - Directors, Officers, and Employees. › Article 2 - Prohibited Acts. › Section 5-6A-21 - Concealment of Loans, Purchase or Sale of Security, Etc. | Section 5-6A-21
Concealment of loans, purchase or sale of security, etc.
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 ... |
https://law.justia.com/codes/alabama/title-5/chapter-6a/article-2/section-5-6a-22/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 6A - Directors, Officers, and Employees.›Article 2 - Prohibited Acts.›Section 5-6A-22 - Overdrawing Own Account; Receipt of Commissions, etc., to Procure Loans, Discounts... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 6A - Directors, Officers, and Employees. › Article 2 - Prohibited Acts. › Section 5-6A-22 - Overdrawing Own Account; Receipt of Commissions, etc., to Procure Loans, Discounts, Etc. | Section 5-6A-22
Overdrawing own account; receipt of commissions, etc., to procure 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 regulatio... |
https://law.justia.com/codes/alabama/title-5/chapter-6a/article-2/section-5-6a-23/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 6A - Directors, Officers, and Employees.›Article 2 - Prohibited Acts.›Section 5-6A-23 - Receipt or Possession of Bank Property With Intent to Defraud, Etc. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 6A - Directors, Officers, and Employees. › Article 2 - Prohibited Acts. › Section 5-6A-23 - Receipt or Possession of Bank Property With Intent to Defraud, Etc. | Section 5-6A-23
Receipt or possession of bank property with intent to defraud, etc.
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.
(Acts 1980, No. 80-658, §... |
https://law.justia.com/codes/alabama/title-5/chapter-6a/article-2/section-5-6a-24/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 6A - Directors, Officers, and Employees.›Article 2 - Prohibited Acts.›Section 5-6A-24 - Making of False Entries, etc., on Books and Accounts of Bank. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 6A - Directors, Officers, and Employees. › Article 2 - Prohibited Acts. › Section 5-6A-24 - Making of False Entries, etc., on Books and Accounts of Bank. | Section 5-6A-24
Making of false entries, etc., on books and accounts of bank.
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... |
https://law.justia.com/codes/alabama/title-5/chapter-6a/article-2/section-5-6a-25/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 6A - Directors, Officers, and Employees.›Article 2 - Prohibited Acts.›Section 5-6A-25 - Fraudulent Representation as to Capital, False Reports, etc., as to Condition of B... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 6A - Directors, Officers, and Employees. › Article 2 - Prohibited Acts. › Section 5-6A-25 - Fraudulent Representation as to Capital, False Reports, etc., as to Condition of Bank, Etc. | Section 5-6A-25
Fraudulent representation as to capital, false reports, etc., as to 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 publish... |
https://law.justia.com/codes/alabama/title-5/chapter-6a/article-2/section-5-6a-26/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 6A - Directors, Officers, and Employees.›Article 2 - Prohibited Acts.›Section 5-6A-26 - Loans or Extension of Credit to Bank Officers and Employees. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 6A - Directors, Officers, and Employees. › Article 2 - Prohibited Acts. › Section 5-6A-26 - Loans or Extension of Credit to Bank Officers and Employees. | Section 5-6A-26
Loans or extension of credit to bank officers and employees.
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 bor... |
https://law.justia.com/codes/alabama/title-5/chapter-7a/article-1/section-5-7a-1/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 7A - Bank Merger, Consolidation, or Conversion.›Article 1 - Consolidation, Merger or Transfer of State Banks.›Section 5-7A-1 - Banks May Merge or Consolidate; Transfer of Place of Business. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 7A - Bank Merger, Consolidation, or Conversion. › Article 1 - Consolidation, Merger or Transfer of State Banks. › Section 5-7A-1 - Banks May Merge or Consolidate; Transfer of Place of Business. | Section 5-7A-1
Banks may merge or consolidate; transfer of place of business.
Any bank may consolidate or merge with or transfer its assets and liabilities to another bank and any bank may move its office or place of business from one city or town to another city or town within the state.
(Acts 1980, No. 80-658, §5-7-1... |
https://law.justia.com/codes/alabama/title-5/chapter-7a/article-1/section-5-7a-2/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 7A - Bank Merger, Consolidation, or Conversion.›Article 1 - Consolidation, Merger or Transfer of State Banks.›Section 5-7A-2 - Proceedings to Effect Consolidation, Merger or Transfer. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 7A - Bank Merger, Consolidation, or Conversion. › Article 1 - Consolidation, Merger or Transfer of State Banks. › Section 5-7A-2 - Proceedings to Effect Consolidation, Merger or Transfer. | Section 5-7A-2
Proceedings to effect consolidation, merger or transfer.
Before such consolidation, merger or transfer shall become effective, the following proceedings must be had and done. The board of directors of each bank affected must pass a resolution stating that such consolidation, merger or transfer is desirab... |
https://law.justia.com/codes/alabama/title-5/chapter-7a/article-1/section-5-7a-3/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 7A - Bank Merger, Consolidation, or Conversion.›Article 1 - Consolidation, Merger or Transfer of State Banks.›Section 5-7A-3 - Certificate of Proceedings to Be Forwarded to Superintendent of Bank... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 7A - Bank Merger, Consolidation, or Conversion. › Article 1 - Consolidation, Merger or Transfer of State Banks. › Section 5-7A-3 - Certificate of Proceedings to Be Forwarded to Superintendent of Banks. | Section 5-7A-3
Certificate of proceedings to be forwarded to Superintendent of Banks.
A certificate of all the proceedings, including a copy of the pertinent portion of the minutes of the meeting of the board of directors at which the resolution under Section 5-7A-2 was passed, the notice which was given to each stockh... |
https://law.justia.com/codes/alabama/title-5/chapter-7a/article-1/section-5-7a-4/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 7A - Bank Merger, Consolidation, or Conversion.›Article 1 - Consolidation, Merger or Transfer of State Banks.›Section 5-7A-4 - Issuance of Certificate of Approval by Superintendent. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 7A - Bank Merger, Consolidation, or Conversion. › Article 1 - Consolidation, Merger or Transfer of State Banks. › Section 5-7A-4 - Issuance of Certificate of Approval by Superintendent. | Section 5-7A-4
Issuance of certificate of approval by superintendent.
If the superintendent approves the entire proceedings, he shall issue his certificate of approval in writing, in duplicate, one copy being filed in his office and the other forwarded, along with the certificate, to the official or officials where art... |
https://law.justia.com/codes/alabama/title-5/chapter-7a/article-1/section-5-7a-5/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 7A - Bank Merger, Consolidation, or Conversion.›Article 1 - Consolidation, Merger or Transfer of State Banks.›Section 5-7A-5 - Examinations; Written Consent of Superintendent to Consolidation. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 7A - Bank Merger, Consolidation, or Conversion. › Article 1 - Consolidation, Merger or Transfer of State Banks. › Section 5-7A-5 - Examinations; Written Consent of Superintendent to Consolidation. | Section 5-7A-5
Examinations; written consent of superintendent to consolidation.
Before approving proceedings to consolidate one such institution with another, the superintendent shall cause to be made an examination of each such institution to determine whether the interests of the depositors, creditors and stockholde... |
https://law.justia.com/codes/alabama/title-5/chapter-7a/article-1/section-5-7a-6/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 7A - Bank Merger, Consolidation, or Conversion.›Article 1 - Consolidation, Merger or Transfer of State Banks.›Section 5-7A-6 - Appeals; Applicability of Article to Branch Banks, Etc. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 7A - Bank Merger, Consolidation, or Conversion. › Article 1 - Consolidation, Merger or Transfer of State Banks. › Section 5-7A-6 - Appeals; Applicability of Article to Branch Banks, Etc. | Section 5-7A-6
Appeals; applicability of article to branch banks, etc.
If such consent is refused, an appeal may be taken therefrom to the circuit court of the county where such institution is located. This article shall apply to banks having branches and to any branch office thereof in the same way as it applies to ot... |
https://law.justia.com/codes/alabama/title-5/chapter-7a/article-2/section-5-7a-20/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 7A - Bank Merger, Consolidation, or Conversion.›Article 2 - Conversion of National Banks Into State Banks.›Section 5-7A-20 - Conversion of National Bank, etc., Into State Bank - Procedure. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 7A - Bank Merger, Consolidation, or Conversion. › Article 2 - Conversion of National Banks Into State Banks. › Section 5-7A-20 - Conversion of National Bank, etc., Into State Bank - Procedure. | Section 5-7A-20
Conversion of national bank, etc., into state bank - Procedure.
Any bank organized under the laws of the United States may, by the vote of the stockholders owning not less than a majority of the capital stock of such bank with the approval of the superintendent and upon the payment by it to the superint... |
https://law.justia.com/codes/alabama/title-5/chapter-7a/article-2/section-5-7a-21/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 7A - Bank Merger, Consolidation, or Conversion.›Article 2 - Conversion of National Banks Into State Banks.›Section 5-7A-21 - Conversion of National Bank, etc., Into State Bank - Execution of Arti... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 7A - Bank Merger, Consolidation, or Conversion. › Article 2 - Conversion of National Banks Into State Banks. › Section 5-7A-21 - Conversion of National Bank, etc., Into State Bank - Execution of Articles of Incorporation and Organization Certi... | Section 5-7A-21
Conversion of national bank, etc., into state bank - Execution of articles of incorporation and organization certificate; powers of directors, etc.
In case of such conversion, the articles of incorporation and organization certificates may be executed by a majority of the directors of the bank and the c... |
https://law.justia.com/codes/alabama/title-5/chapter-7a/article-2/section-5-7a-22/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 7A - Bank Merger, Consolidation, or Conversion.›Article 2 - Conversion of National Banks Into State Banks.›Section 5-7A-22 - Conversion of National Bank, etc., Into State Bank - Powers and Duties... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 7A - Bank Merger, Consolidation, or Conversion. › Article 2 - Conversion of National Banks Into State Banks. › Section 5-7A-22 - Conversion of National Bank, etc., Into State Bank - Powers and Duties of Bank, Stockholders, Officers, etc., Upon... | Section 5-7A-22
Conversion of national bank, etc., into state bank - Powers and duties of bank, stockholders, officers, etc., upon issuance of certificate.
(a) When the superintendent has given to such bank a certificate that the provisions of this article have been complied with, such bank and all its stockholders, of... |
https://law.justia.com/codes/alabama/title-5/chapter-7a/article-2/section-5-7a-23/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 7A - Bank Merger, Consolidation, or Conversion.›Article 2 - Conversion of National Banks Into State Banks.›Section 5-7A-23 - Declaration of Incorporation. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 7A - Bank Merger, Consolidation, or Conversion. › Article 2 - Conversion of National Banks Into State Banks. › Section 5-7A-23 - Declaration of Incorporation. | Section 5-7A-23
Declaration of incorporation.
Before the issuing of such certificate by the superintendent a majority of the directors of such bank shall file in the office of the official or officials with which a certificate of incorporation would be filed under the business corporation laws of this state a declarati... |
https://law.justia.com/codes/alabama/title-5/chapter-7a/article-2/section-5-7a-24/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 7A - Bank Merger, Consolidation, or Conversion.›Article 2 - Conversion of National Banks Into State Banks.›Section 5-7A-24 - Issuance of Stock by State Bank. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 7A - Bank Merger, Consolidation, or Conversion. › Article 2 - Conversion of National Banks Into State Banks. › Section 5-7A-24 - Issuance of Stock by State Bank. | Section 5-7A-24
Issuance of stock by state bank.
Such state bank shall have authority to issue to the stockholders of the national bank from which it was converted shares of stock of the same amount and of the same par value as is held by each of said stockholders in such national bank.
(Acts 1980, No. 80-658, §5-7-24.... |
https://law.justia.com/codes/alabama/title-5/chapter-7a/article-3/section-5-7a-40/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 7A - Bank Merger, Consolidation, or Conversion.›Article 3 - Conversion of State Banks Into or Consolidation With National Banks.›Section 5-7A-40 - Authorized; Exchange of Stock. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 7A - Bank Merger, Consolidation, or Conversion. › Article 3 - Conversion of State Banks Into or Consolidation With National Banks. › Section 5-7A-40 - Authorized; Exchange of Stock. | Section 5-7A-40
Authorized; exchange of stock.
Any state bank may, with the consent of the holders of a majority in amount of its stock obtained at a meeting of the shareholders called therefor, be converted or merged into or consolidate with a national bank, in such manner as may, at the time of such conversion, merge... |
https://law.justia.com/codes/alabama/title-5/chapter-7a/article-3/section-5-7a-41/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 7A - Bank Merger, Consolidation, or Conversion.›Article 3 - Conversion of State Banks Into or Consolidation With National Banks.›Section 5-7A-41 - Meeting of Stockholders for Purpose of Conversio... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 7A - Bank Merger, Consolidation, or Conversion. › Article 3 - Conversion of State Banks Into or Consolidation With National Banks. › Section 5-7A-41 - Meeting of Stockholders for Purpose of Conversion or Consolidation. | Section 5-7A-41
Meeting of stockholders for purpose of conversion or consolidation.
All meetings of shareholders, called for any of the purposes provided for in Section 5-7A-40, shall be called by resolution of the board of directors. Notice of such meeting and of the purposes thereof shall be published once a week for... |
https://law.justia.com/codes/alabama/title-5/chapter-7a/article-3/section-5-7a-42/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 7A - Bank Merger, Consolidation, or Conversion.›Article 3 - Conversion of State Banks Into or Consolidation With National Banks.›Section 5-7A-42 - Transfer of Property of State Bank to National B... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 7A - Bank Merger, Consolidation, or Conversion. › Article 3 - Conversion of State Banks Into or Consolidation With National Banks. › Section 5-7A-42 - Transfer of Property of State Bank to National Bank. | Section 5-7A-42
Transfer of property of state bank to national bank.
At the time when such conversion of or consolidation or merger by the state bank with a national bank, under the charter of the latter, becomes effective, all the property of the state bank including all its rights, title and interest in and to all pr... |
https://law.justia.com/codes/alabama/title-5/chapter-7a/article-3/section-5-7a-43/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 7A - Bank Merger, Consolidation, or Conversion.›Article 3 - Conversion of State Banks Into or Consolidation With National Banks.›Section 5-7A-43 - Continuation of Identity, Obligations, etc., of ... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 7A - Bank Merger, Consolidation, or Conversion. › Article 3 - Conversion of State Banks Into or Consolidation With National Banks. › Section 5-7A-43 - Continuation of Identity, Obligations, etc., of State Bank. | Section 5-7A-43
Continuation of identity, obligations, etc., of state bank.
Upon such conversion, merger or consolidation becoming effective, the national bank shall be deemed to be a continuation of the entity and of the identity of the state bank and all the rights, obligations and relations of the state bank to or i... |
https://law.justia.com/codes/alabama/title-5/chapter-7a/article-3/section-5-7a-44/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 7A - Bank Merger, Consolidation, or Conversion.›Article 3 - Conversion of State Banks Into or Consolidation With National Banks.›Section 5-7A-44 - Rights of Dissenting Shareholders. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 7A - Bank Merger, Consolidation, or Conversion. › Article 3 - Conversion of State Banks Into or Consolidation With National Banks. › Section 5-7A-44 - Rights of Dissenting Shareholders. | Section 5-7A-44
Rights of dissenting shareholders.
The rights of shareholders of a national bank dissenting from the conversion, merger or consolidation of the bank shall be governed exclusively by the applicable laws of Congress.
A shareholder of a state bank who votes against the conversion, merger or consolidation o... |
https://law.justia.com/codes/alabama/title-5/chapter-7a/article-3/section-5-7a-46/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 7A - Bank Merger, Consolidation, or Conversion.›Article 3 - Conversion of State Banks Into or Consolidation With National Banks.›Section 5-7A-46 - Sections Not to Affect General or Local Law, Etc... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 7A - Bank Merger, Consolidation, or Conversion. › Article 3 - Conversion of State Banks Into or Consolidation With National Banks. › Section 5-7A-46 - Sections Not to Affect General or Local Law, Etc. | Section 5-7A-46
Sections not to affect general or local law, etc.
Except to the extent necessary to give effect to Section 5-7A-45(b), no general or local law or general law of local application shall be deemed to have been modified or repealed by Sections 5-7A-40 through 5-7A-46, and nothing contained herein shall be ... |
https://law.justia.com/codes/alabama/title-5/chapter-7a/article-4/section-5-7a-60/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 7A - Bank Merger, Consolidation, or Conversion.›Article 4 - Conversion of Savings Institutions Into State Banks.›Section 5-7A-60 - Purpose. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 7A - Bank Merger, Consolidation, or Conversion. › Article 4 - Conversion of Savings Institutions Into State Banks. › Section 5-7A-60 - Purpose. | Section 5-7A-60
Purpose.
It is the purpose of this article to permit state and federally chartered savings and loan associations and savings banks to convert to state chartered banks with the approval of the Superintendent of Banks for the State of Alabama in accordance with the provisions of this article.
(Acts 1990, ... |
https://law.justia.com/codes/alabama/title-5/chapter-7a/article-4/section-5-7a-61/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 7A - Bank Merger, Consolidation, or Conversion.›Article 4 - Conversion of Savings Institutions Into State Banks.›Section 5-7A-61 - Definitions. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 7A - Bank Merger, Consolidation, or Conversion. › Article 4 - Conversion of Savings Institutions Into State Banks. › Section 5-7A-61 - Definitions. | Section 5-7A-61
Definitions.
As used in this article, the following terms shall have the following meanings, respectively, unless the context clearly indicates otherwise:
(1) SAVINGS INSTITUTION. A savings and loan association or savings bank organized under the laws of this state or organized under the laws of the Uni... |
https://law.justia.com/codes/alabama/title-5/chapter-7a/article-4/section-5-7a-62/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 7A - Bank Merger, Consolidation, or Conversion.›Article 4 - Conversion of Savings Institutions Into State Banks.›Section 5-7A-62 - Application to Convert Charter; Written Plan of Conversion; Auth... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 7A - Bank Merger, Consolidation, or Conversion. › Article 4 - Conversion of Savings Institutions Into State Banks. › Section 5-7A-62 - Application to Convert Charter; Written Plan of Conversion; Authorizing Resolution; Submission to Superinten... | Section 5-7A-62
Application to convert charter; written plan of conversion; authorizing resolution; submission to superintendent; fee; tentative approval; vote of stockholders or members; directors; articles of incorporation and bylaws; statement of superintendent's objections; amendment; appeal of disapproval; applica... |
https://law.justia.com/codes/alabama/title-5/chapter-7a/article-4/section-5-7a-63/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 7A - Bank Merger, Consolidation, or Conversion.›Article 4 - Conversion of Savings Institutions Into State Banks.›Section 5-7A-63 - Resulting Bank as Continuation of Savings Institution. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 7A - Bank Merger, Consolidation, or Conversion. › Article 4 - Conversion of Savings Institutions Into State Banks. › Section 5-7A-63 - Resulting Bank as Continuation of Savings Institution. | Section 5-7A-63
Resulting bank as continuation of savings institution.
Except insofar as the superintendent requires the converting savings institution to terminate certain activities and dispose of certain assets in order to meet the requirements applicable to state chartered banks, upon the conversion of any savings ... |
https://law.justia.com/codes/alabama/title-5/chapter-7a/article-4/section-5-7a-64/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 7A - Bank Merger, Consolidation, or Conversion.›Article 4 - Conversion of Savings Institutions Into State Banks.›Section 5-7A-64 - Maintenance and Operation of Offices. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 7A - Bank Merger, Consolidation, or Conversion. › Article 4 - Conversion of Savings Institutions Into State Banks. › Section 5-7A-64 - Maintenance and Operation of Offices. | Section 5-7A-64
Maintenance and operation of offices.
Following the conversion of a savings institution to a state chartered bank pursuant to this article, the resulting bank may continue to maintain and operate as banking offices all offices maintained and operated by the savings institution at the time of such conver... |
https://law.justia.com/codes/alabama/title-5/chapter-7a/article-4/section-5-7a-65/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 7A - Bank Merger, Consolidation, or Conversion.›Article 4 - Conversion of Savings Institutions Into State Banks.›Section 5-7A-65 - Expansion or Branching Limited. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 7A - Bank Merger, Consolidation, or Conversion. › Article 4 - Conversion of Savings Institutions Into State Banks. › Section 5-7A-65 - Expansion or Branching Limited. | Section 5-7A-65
Expansion or branching limited.
Except as provided in Section 5-7A-64, nothing in this article is to be construed, interpreted or applied to allow any existing state chartered bank, any resulting bank or any state chartered bank resulting from a plan of conversion under this article to expand or branch ... |
https://law.justia.com/codes/alabama/title-5/chapter-8a/article-1/section-5-8a-1/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 8A - Liquidation of Banks.›Article 1 - Solvent Banks.›Section 5-8A-1 - Liquidation of Solvent Banks. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 8A - Liquidation of Banks. › Article 1 - Solvent Banks. › Section 5-8A-1 - Liquidation of Solvent Banks. | Section 5-8A-1
Liquidation of solvent banks.
Any solvent bank may dissolve under the provisions of Alabama law relating to voluntary dissolution of a business corporation provided that the superintendent has given his written approval to such dissolution. The superintendent may require the directors to give bond in an ... |
https://law.justia.com/codes/alabama/title-5/chapter-8a/article-2/section-5-8a-20/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 8A - Liquidation of Banks.›Article 2 - Insolvent Banks.›Section 5-8A-20 - Proceedings of Superintendent Before Banking Board as to Defaults or Misconduct of... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 8A - Liquidation of Banks. › Article 2 - Insolvent Banks. › Section 5-8A-20 - Proceedings of Superintendent Before Banking Board as to Defaults or Misconduct of Bank. | Section 5-8A-20
Proceedings of superintendent before banking board as to defaults or misconduct of bank.
Whenever it shall appear to the superintendent that any bank has violated its charter or any law of the state, or is conducting business in any unauthorized manner, or that the bank may suspend payment of its obliga... |
https://law.justia.com/codes/alabama/title-5/chapter-8a/article-2/section-5-8a-21/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 8A - Liquidation of Banks.›Article 2 - Insolvent Banks.›Section 5-8A-21 - Liquidation of Bank by Superintendent Without Assent of Banking Board. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 8A - Liquidation of Banks. › Article 2 - Insolvent Banks. › Section 5-8A-21 - Liquidation of Bank by Superintendent Without Assent of Banking Board. | Section 5-8A-21
Liquidation of bank by superintendent without assent of Banking Board.
If a majority of the directors of any bank so request in writing and the bank has violated any of the provisions of the banking laws or is insolvent, the superintendent may take charge of and liquidate the affairs of the bank as prov... |
https://law.justia.com/codes/alabama/title-5/chapter-8a/article-2/section-5-8a-22/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 8A - Liquidation of Banks.›Article 2 - Insolvent Banks.›Section 5-8A-22 - Institution of Civil Action for Vacation of Charter, Liquidation, etc., of Bank. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 8A - Liquidation of Banks. › Article 2 - Insolvent Banks. › Section 5-8A-22 - Institution of Civil Action for Vacation of Charter, Liquidation, etc., of Bank. | Section 5-8A-22
Institution of civil action for vacation of charter, liquidation, etc., of bank.
The circuit court of the county in which the principal place of business of the bank is located, sitting without a jury may upon application of the superintendent vacate the charter of a bank, liquidate a bank, or appoint a... |
https://law.justia.com/codes/alabama/title-5/chapter-8a/article-2/section-5-8a-23/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 8A - Liquidation of Banks.›Article 2 - Insolvent Banks.›Section 5-8A-23 - Acquisition of Possession of Property and Business of Bank by Superintendent; Noti... | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 8A - Liquidation of Banks. › Article 2 - Insolvent Banks. › Section 5-8A-23 - Acquisition of Possession of Property and Business of Bank by Superintendent; Notice to Holders of Bank Assets. | Section 5-8A-23
Acquisition of possession of property and business of bank by superintendent; notice to holders of bank assets.
The superintendent shall not take possession of the property and business of any bank under the provisions of this chapter unless requested in writing to do so by a majority of the directors o... |
https://law.justia.com/codes/alabama/title-5/chapter-8a/article-2/section-5-8a-24/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 5 - Banks and Financial Institutions.›Chapter 8A - Liquidation of Banks.›Article 2 - Insolvent Banks.›Section 5-8A-24 - Appointment of Receiver to Liquidate Bank. | 2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 8A - Liquidation of Banks. › Article 2 - Insolvent Banks. › Section 5-8A-24 - Appointment of Receiver to Liquidate Bank. | Section 5-8A-24
Appointment of receiver to liquidate bank.
The superintendent may under his or her hand and official seal appoint a receiver to liquidate and distribute the assets of any bank taken possession of by the superintendent under the provisions of this chapter, the certificate of appointment to be filed in th... |
Subsets and Splits
No community queries yet
The top public SQL queries from the community will appear here once available.