Chapter 1A - Interstate And International Bank Acquisitions, Mergers And Branching
- Article 1 Acquisitions of Banks by Bank Holding Companies.
- Section 5-13B-1 Short title
This chapter shall be known and may be cited as the "Alabama Interstate and International Banking Act of 1995." ...
- Section 5-13B-2 Definitions
For purposes of this article: (a) "Acquire" means: (1) For a company to merge or consolidate with a bank holding company; (2) For a ...
- Section 5-13B-3 Scope of article and statement of legislative intent
This article sets forth the conditions under which a company may acquire an Alabama bank or an Alabama bank holding company. This article is ...
- Section 5-13B-4 Permitted acquisitions
(a) Except as otherwise expressly permitted by federal law, no company may acquire an Alabama bank holding company or an Alabama state bank without ...
- Section 5-13B-5 Required application
(a) A company that proposes to make an acquisition under this article shall: (1) File with the superintendent a copy of the application that ...
- Section 5-13B-6 Standards for approval
(a) In deciding whether to approve an application for a proposed acquisition under this article, the superintendent shall consider whether the acquisition may: (1) ...
- Section 5-13B-7 Procedures relating to applications
(a) The superintendent shall decide whether to approve an acquisition under this article within 60 days after receipt of a completed application; provided, that ...
- Section 5-13B-8 Reports; examinations
(a) To the extent specified by the superintendent by regulation, order, or written request, each bank holding company that directly or indirectly controls an ...
- Section 5-13B-9 Agency activities
(a) Any Alabama state bank may, upon compliance with the requirements of this section, agree to receive deposits, renew time deposits, close loans, service ...
- Section 5-13B-10 Penalties
The superintendent may enforce the provisions of this article by any appropriate action in the circuit courts of this state, including an action for ...
- Section 5-13B-11 Authority to issue regulations; cooperative agreements; fees
(a) In order to carry out the purposes of this title, in addition to and cumulative with the authority and powers of the superintendent ...
- Article 2 Interstate Bank Mergers and Branching.
- Section 5-13B-20 Purpose
It is the express intent of this article to permit interstate branching by merger under Section 102 of the Riegle-Neal Interstate Banking and Branching ...
- Section 5-13B-21 Definitions
As used in this article, unless a different meaning is required by the context, the following words and phrases shall have the following meanings: ...
- Section 5-13B-22 Establishment of interstate branches by acquisition or merger; branching
With the prior approval of the superintendent, an Alabama state bank may establish, maintain, and operate one or more branches in a state other ...
- Section 5-13B-23 Interstate merger transactions and branching; operation of branches
(a) One or more Alabama state banks may enter into an interstate merger transaction with one or more out-of-state banks under this article, and ...
- Section 5-13B-24 Notice and filing requirements
Any out-of-state bank that will be the resulting bank pursuant to an interstate merger transaction involving an Alabama state bank shall notify the superintendent ...
- Section 5-13B-25 Powers
(a) An out-of-state state bank which establishes and maintains one or more branches in Alabama under this article may conduct any activities at such ...
- Section 5-13B-26 Examinations; periodic reports; cooperative agreements; assessment of fees
(a) To the extent consistent with subsection (c), the superintendent may make such examinations of any branch established and maintained in this state pursuant ...
- Section 5-13B-27 Enforcement
If the superintendent determines that a branch maintained by an out-of-state state bank in this state is being operated in violation of any provision ...
- Section 5-13B-28 Regulations
The superintendent may promulgate such regulations as he or she determines to be necessary or appropriate in order to implement the provisions of this ...
- Section 5-13B-29 Notice of subsequent merger, etc
Each out-of-state state bank that has established and maintains a branch in this state pursuant to this article, or the home state regulator of ...
- Article 3 Regulation of Foreign Banks.
- Division 1 General.
- Section 5-13B-40 Purpose
(a) This article is intended generally to provide for state regulation of the participation by foreign banks in the financial markets of this state. ...
- Section 5-13B-41 Definitions
For purposes of this article: (a) The term "bank" means any bank as defined in: Section 2(c) of the Bank Holding Company Act (12 ...
- Section 5-13B-42 General regulation authority
The superintendent, with the concurrence of a majority of the members of the State Banking Board, is authorized and empowered to issue such rules, ...
- Division 2 Domestic Banks Owned or Controlled by Foreign Banks and Other Foreign Persons.
- Section 5-13B-60 Purpose
This division is generally intended to ensure that the laws and regulations of this state applicable to the ownership and operations of Alabama banks, ...
- Section 5-13B-61 Operations in this state of banks owned or controlled by foreign banks and other foreign persons
(a) Except as provided in subsection (b): (1) The laws and regulations of this state governing the acquisition or ownership of controlling or other ...
- Section 5-13B-62 Citizenship and residency requirements for directors of state banks
Notwithstanding any other provision of the laws and regulations of this state, the citizenship and residency requirements otherwise applicable to members of the board ...
- Division 3 Direct Branch, Agency, and Representative Offices of Foreign Banks.
- Section 5-13B-80 Purpose
Consistent with the federal International Banking Act, the Bank Holding Company Act, the Federal Deposit Insurance Act, and the Interstate Banking and Branching Efficiency ...
- Section 5-13B-81 Branches and agencies of foreign banks - Necessity of licensure
(a) No foreign bank shall transact business in this state except at an Alabama state branch or Alabama state agency which it is licensed ...
- Section 5-13B-82 Application to establish and maintain a branch or agency - Contents
(a) A foreign bank, in order to procure a license under this article to establish and maintain an Alabama state branch or Alabama state ...
- Section 5-13B-83 Application to establish and maintain a branch or agency - Manner of filing and determination
(a) A foreign bank making an application under this article for a license to establish and maintain an Alabama state branch or Alabama state ...
- Section 5-13B-84 Application fee
Upon applying to the superintendent under this article for a license to establish and maintain an Alabama state branch or Alabama state agency, a ...
- Section 5-13B-85 No concurrent maintenance of federal branches or agencies
(a) No foreign bank which is licensed under this article to establish and maintain an Alabama state branch or Alabama state agency shall concurrently ...
- Section 5-13B-86 Powers of branch and agency
(a) Except as otherwise specifically provided in this division or in regulations or orders adopted by the superintendent, and notwithstanding any other law or ...
- Section 5-13B-87 Fiduciary activities
(a) No foreign bank which is licensed to establish and maintain an Alabama state branch or Alabama state agency shall engage in fiduciary activities ...
- Section 5-13B-88 Authority to act as agent
(a) An Alabama state branch or Alabama state agency of a foreign bank licensed under this article may receive deposits, renew time deposits, close ...
- Section 5-13B-89 Representative office of foreign banks - Necessity of licensure
(a) No foreign bank shall establish or maintain an Alabama representative office unless such foreign bank is licensed by the superintendent to maintain such ...
- Section 5-13B-90 Representative office - Application
(a) The application for a license to establish and maintain an Alabama representative office shall be in writing under oath and shall be in ...
- Section 5-13B-91 Representative office - Factors for approval of application
(a) A foreign bank making an application for a license to establish and maintain an Alabama representative office shall deliver to the superintendent two, ...
- Section 5-13B-92 Representative office - Permissible activities
(a) A foreign bank which is licensed to establish and maintain an Alabama representative office may, subject to such regulations as the superintendent may ...
- Section 5-13B-93 Representative office - Revocation of license
The superintendent, after notice and opportunity for a hearing, may revoke a license to establish and maintain an Alabama representative office if he or ...
- Section 5-13B-94 Posting of license
Each foreign bank which is licensed to establish and maintain an Alabama state branch, Alabama state agency, or Alabama representative office shall post its ...
- Section 5-13B-95 Licenses not transferable
No license issued by the superintendent in accordance with this article shall be transferable or assignable. ...
- Section 5-13B-96 Appointment of superintendent as agent for service of process
(a) A foreign bank which is licensed to establish and maintain an Alabama state branch, Alabama state agency, or Alabama representative office shall file ...
- Section 5-13B-97 Service of process
(a) Service of any lawful process in any judicial or administrative proceeding against the foreign bank or any of its successors which arises out ...
- Section 5-13B-98 Filing of amendments to articles of incorporation
A foreign bank which is licensed to maintain an Alabama state branch or Alabama state agency, whenever its articles of incorporation are amended, shall ...
- Section 5-13B-99 Amended license to establish and maintain a branch or agency
(a) A foreign bank which is licensed to establish and maintain an Alabama state branch or Alabama state agency must secure an amended license ...
- Section 5-13B-100 Change of control of foreign bank
A foreign bank which is licensed to establish and maintain an Alabama state branch, Alabama state agency, or Alabama representative office shall file with ...
- Section 5-13B-101 Relocation of office; written notice necessary
(a) No foreign bank which is licensed to establish and maintain an Alabama state branch, Alabama state agency, or Alabama representative office shall relocate ...
- Section 5-13B-102 Examination; payment of fees
(a) An Alabama state branch, Alabama state agency, or Alabama representative office shall be subject to examination by the superintendent at such intervals and ...
- Section 5-13B-103 Supervision and enforcement
(a) The superintendent shall have all of the powers granted to him or her by the laws of this state to the extent appropriate ...
- Section 5-13B-104 Reports
(a) Each foreign bank which is licensed to establish and maintain an Alabama state branch, Alabama state agency, or Alabama representative office shall file ...
- Section 5-13B-105 Confidentiality of examination reports
(a) All reports of examinations and investigations, correspondence, and memoranda concerning or arising out of such examinations and investigations, including any duly authenticated copy ...
- Section 5-13B-106 Books, accounts, and records
Each foreign bank which is licensed to establish and maintain an Alabama state branch, Alabama state agency, or Alabama representative office shall maintain or ...
- Section 5-13B-107 Separate assets
(a) Each foreign bank which is licensed to establish and maintain an Alabama state branch or Alabama state agency in this state shall keep ...
- Section 5-13B-108 Disclosure of lack of deposit insurance
Each foreign bank which is licensed to establish and maintain an Alabama state branch or Alabama state agency shall, in a manner established by ...
- Section 5-13B-109 Limitations on payment of interest on deposits
A foreign bank which is licensed to establish and maintain an Alabama state branch or Alabama state agency shall be subject to the same ...
- Section 5-13B-110 Pledge of assets
(a) Each foreign bank which is licensed to establish and maintain an Alabama state branch or Alabama state agency shall keep on deposit, in ...
- Section 5-13B-111 Asset maintenance
(a) Each foreign bank which is licensed to establish and maintain an Alabama state branch or Alabama state agency shall hold in this state ...
- Section 5-13B-112 Voluntary closure of branch, agency, or representative office - Application
(a) No foreign bank which is licensed to establish and maintain an Alabama state branch, Alabama state agency, or Alabama representative office shall close ...
- Section 5-13B-113 Suspension or revocation of license; factors
If, after notice and a hearing, the superintendent finds any of the following with respect to a foreign bank which is licensed to establish ...
- Section 5-13B-114 Immediate suspension or revocation
If the superintendent finds that any of the factors set forth in Section 5-13B-113 are true with respect to any foreign bank which is ...
- Section 5-13B-115 Seizure of foreign bank's property and business; liquidation
(a) If the superintendent finds that any of the factors set forth in Section 5-13B-113 are true with respect to any foreign bank which ...
- Division 4 Alabama Branches of Out-of-State Foreign Banks.
- Section 5-13B-130 Purpose
This division is intended generally to ensure that interstate state branches of out-of-state foreign banks may be established and operated in this state (1) ...
- Section 5-13B-131 Establishment of interstate branches in this state by out-of-state foreign banks
(a) Except as provided in subsection (b), an out-of-state foreign bank may establish an interstate Alabama state branch in the same manner, including by ...
