Section 5-2A-1 Creation of department; duties generally. There shall be a State Banking Department which shall administer the laws of this state which regulate or otherwise relate to corporations doing or carrying on a banking business in the state, all laws relating to savings and loan associations doing business in this state and all laws […]
Section 5-2A-10 Superintendent – Make good any impairment of capital. Whenever the superintendent shall have reason to believe that the capital of any bank is impaired, he may in his discretion require such bank to make good the deficit by the date specified by him, which requirement shall be in writing. The superintendent may cause […]
Section 5-2A-11 Superintendent – Losses; bank to correct impairment of capital. Whenever losses are sustained by a bank, such losses shall be charged on the books of the bank as losses so that the books of the bank will show the true condition of the bank. When, by reason of losses or otherwise, the capital […]
Section 5-2A-12 Superintendent – Order to correct unsafe and unsound matters; penalties; procedure. (a) For purposes of this section, a bank holding company is a holding company organized under the laws of Alabama or another state in the United States that directly owns a majority of the voting securities of an Alabama state bank. (b) […]
Section 5-2A-13 Superintendent – Annual report to Governor; publication and distribution, etc. The superintendent shall make from the reports of the department during the year an annual report to the Governor on the activities of the banking department and such other information as the Governor may request and shall keep on file as a public […]
Section 5-2A-14 Superintendent – Reports of criminal violations to grand juries. The superintendent may submit to any grand jury any criminal violations of the banking laws known to him or her to have occurred pursuant to applicable law regarding criminal venue and may make himself or herself or his or her staff available to testify […]
Section 5-2A-15 Appointment, etc., of assistants and employees generally; bond of deputy superintendent. (a) Subject to the provisions of Section 36-26-1, et seq., the superintendent may appoint or employ one or more deputy superintendents and such assistants, employees and attorneys as may be necessary to the efficient operation of the department. He shall fix their […]
Section 5-2A-16 Limitation of liability of superintendent, members of Banking Board, or employees. Neither the superintendent, any member of the Banking Board nor any employee of the Banking Department shall be personally liable for any acts done in good faith while in the performance of his duties as provided by law. (Acts 1980, No. 80-658, […]
Section 5-2A-17 Bank examiners – Oath; duties generally. Every examiner shall, before entering upon the discharge of his duties, take and file with the superintendent an oath faithfully to discharge his duties as examiner. Each examiner shall act under the direction of the superintendent and shall examine fully into the books, papers and affairs of […]
Section 5-2A-18 Bank examiners – Commission. The superintendent shall furnish to each examiner a commission under the signature of the superintendent and official seal of the State Banking Department, which commission the examiner shall exhibit to the bank, and to any officer or officers proposed to be examined as his authority for making the examination. […]
Section 5-2A-19 Bond of examiners and office assistants. Before entering upon the duties of their respective offices, all examiners and office assistants shall execute to the State of Alabama a bond to be fixed and approved by the superintendent, for the faithful performance of their duties. (Acts 1980, No. 80-658, §5-2-22.)
Section 5-2A-2 Offices, venue. The State Banking Department shall locate and maintain its principal office in the City of Montgomery, Alabama, from which place it shall perform its duties and transact its business. Unless otherwise provided in Chapters 1A through 13B and Chapter 20 of this title, all actions in which the superintendent, the Banking […]
Section 5-2A-20 Assessment of banks – When payable; amount; disposition of revenue. Each bank shall on the call of the superintendent pay to the State Banking Department an assessment fee based on the total resources of the bank as may be shown by its last report to the State Banking Department. The rate of such […]
Section 5-2A-21 Assessment of banks – Fees for failure to pay assessment; proceedings for collection of assessment. Each bank failing to make payments of assessments on call made by the superintendent within 30 days after receiving notice from the superintendent of the amount of the assessment, shall pay to the state $100.00 for each day […]
Section 5-2A-22 Independent audits; minimum standards; advisory committee; report in lieu of audit. The board of directors of each state bank shall at least once in each calendar year have an audit made of its books and affairs, including any accounts held in a fiduciary capacity, by independent auditors approved by the superintendent. These may […]
Section 5-2A-23 Legal counsel. The Attorney General without additional compensation shall render to the State Banking Department such legal services as the superintendent may request. The district attorney in each county in this state, when requested by the superintendent, shall as a part of his or her official duty and without compensation, represent the superintendent […]
Section 5-2A-24 Examination of small loan companies; fees. The Superintendent of Banks may at any reasonable time cause an examination to be made of any small loan company, finance company, and other individual or person holding any license from the State Banking Department at the licensee’s place of business of the records and transactions of […]
Section 5-2A-3 Superintendent – Qualifications, appointment and term of office; filling of vacancies. The State Banking Department shall be in the charge of the superintendent, who shall be the chief executive officer of the department. The superintendent shall be a person of good character and shall be neither directly nor indirectly interested in, nor borrow […]
Section 5-2A-4 Superintendent – Oath and bond. The superintendent, before entering upon the discharge of his duties, shall take and subscribe to the oath prescribed by the constitution and laws of this state, and shall give bond in the penal sum of $25,000.00. The oath and the bond shall be filed with the Secretary of […]
Section 5-2A-5 Superintendent – Seal of office; recordation of executed papers. The Secretary of State shall provide the superintendent with an official seal. Every paper executed by him as such superintendent, in pursuance of any authority conferred on him by law and sealed with his official seal, shall be received in evidence and may be […]
