Section 5-3A-1 – Required Times; Items to Be Examined; Applicability to Bank Holding Companies and Affiliates.
Section 5-3A-1 Required times; items to be examined; applicability to bank holding companies and affiliates. (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 […]
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.)
Section 5-3A-2 – Acceptance of Examinations and Reports of Federal Bank Regulatory Agency, Etc.
Section 5-3A-2 Acceptance of examinations and reports of federal bank regulatory agency, etc. The superintendent is authorized to accept, in his discretion, in lieu of any examination authorized by the laws of this state to be conducted by his department the examination that may have been made of same within a reasonable period by a […]
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.)
Section 5-3A-3 – Disclosure of Information Obtained by Superintendent, Bank Examiners, Etc.
Section 5-3A-3 Disclosure of information obtained by superintendent, bank examiners, etc. (a) Neither the superintendent, any member of the Banking Board, nor any bank examiner or other state employee shall disclose the condition and affairs of any bank or bank holding company, or their subsidiaries or other affiliates, ascertained by an examination of such bank, […]
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 reliant on third parties to […]
Section 5-3A-4 – Expenses of Special Examinations.
Section 5-3A-4 Expenses of special examinations. The expenses incidental to any special examination of banks, bank holding companies, or their affiliates shall be borne by the bank or bank holding company so examined, and such bank or bank holding company shall, on the call of the superintendent, pay into the Treasury of Alabama, earmarked for […]
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 legal entity that provides a […]
Section 5-3A-5 – Examination of Agency of Foreign Banks.
Section 5-3A-5 Examination of agency of foreign banks. The superintendent shall have the power to examine or cause to be examined every agency located in this state of any foreign bank for the purpose of ascertaining whether it has violated any law of the state and for such other purposes and to such other matters […]
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 performance, condition, and […]