Section 5-13B-112 – Voluntary Closure of Branch, Agency, or Representative Office – Application.
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 such office without filing an application with, and obtaining the prior approval of, the superintendent. An application by a […]
Section 5-13B-113 – Suspension or Revocation of License; Factors.
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 and maintain an Alabama state branch or Alabama state agency, he or she may issue an order suspending or revoking the license of […]
Section 5-13B-114 – Immediate Suspension or Revocation.
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 licensed to maintain an Alabama state branch or Alabama state agency and that it is necessary for the protection of the interests of creditors of […]
Section 5-13B-115 – Seizure of Foreign Bank’s Property and Business; Liquidation.
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 is licensed to establish and maintain an Alabama state branch or Alabama state agency and that it is necessary for the […]
Section 5-13B-88 – Authority to Act as Agent.
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 loans, service loans, and receive payments on loans and other obligations as an agent for any depository institution affiliate of such foreign bank, including […]
Section 5-13B-104 – Reports.
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 with the superintendent such reports as and when the superintendent may require by regulation or order. (b) Each report filed with the superintendent under this article or under […]
Section 5-13B-89 – Representative Office of Foreign Banks – Necessity of Licensure.
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 an Alabama representative office. (b) Nothing in subsection (a) shall be deemed to prohibit a foreign bank which maintains a […]
Section 5-13B-105 – Confidentiality of Examination Reports.
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 or copies thereof in the possession of any foreign bank, shall not be subject to subpoena and shall not be made public unless, in the […]
Section 5-13B-90 – Representative Office – Application.
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 such form and contain such information as the superintendent may require by regulation or order. The application shall be accompanied by a reasonable fee as […]
Section 5-13B-106 – Books, Accounts, and Records.
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 make available at any such office appropriate books, accounts, and records reflecting (1) all transactions effected by or on behalf of such office and (2) […]