Section 5-13B-92 – Representative Office – Permissible Activities.
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 prescribe, engage in the following activities: (1) Solicitation for loans and in connection therewith the assembly of credit information, making of property inspections and […]
Section 5-13B-108 – Disclosure of Lack of Deposit Insurance.
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 the superintendent by regulation or order, give notice that deposits and credit balances in such office are not insured by the Federal Deposit […]
Section 5-13B-93 – Representative Office – Revocation of License.
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 she finds: (1) The foreign bank has violated any provision of this article or any other law, rule, or regulation of this state; […]
Section 5-13B-109 – Limitations on Payment of Interest on Deposits.
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 limitations with respect to the payment of interest on deposits as a state bank which is a member of the Federal Reserve […]
Section 5-13B-94 – Posting of License.
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 license in a conspicuous place at such office. (Acts 1995, No. 95-115, p. 134, §42.)
Section 5-13B-110 – Pledge of Assets.
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 accordance with such regulations or orders as the superintendent shall promulgate, with such unaffiliated Alabama banks as such foreign bank may designate and the superintendent may […]