Section 5-5A-45 – Initiation of Run on Banks, Etc.
Section 5-5A-45 Initiation of run on banks, etc. Any person or persons whose business it is, either as individuals, agents or officers of banks, to receive checks, drafts and demands, when the same are not entitled to days of grace, upon any bank, and who receives the same, for collection and retains the same for […]
Section 5-5A-13 – Filing Fee; Other Fees.
Section 5-5A-13 Filing fee; other fees. (a) The Banking Board shall from time to time fix the amount of the fee for filing an application for a new bank, and for: (1) Establishment of a branch of an existing bank; (2) Conversion of a national bank to a state bank; (3) A merger of two […]
Section 5-5A-29 – Security Not Required When Deposits Insured.
Section 5-5A-29 Security not required when deposits insured. Notwithstanding any provision of law of this state or of any political subdivision of the state or any agency or governmental instrumentality of such subdivision requiring security for deposits in the form of collateral, surety bond or in any other form, security for such deposits shall not […]
Section 5-5A-46 – False, etc., Statements, etc., Affecting Financial Standing of Bank.
Section 5-5A-46 False, etc., statements, etc., affecting financial standing of bank. Any person who shall willfully and maliciously make, circulate or transmit to another or others any false, libelous or slanderous statement, rumor or suggestion written, printed or by word of mouth which is directly or by inference derogatory to the financial condition, or affects […]
Section 5-5A-14 – Capital – Minimum Amount Required for Incorporation of Bank.
Section 5-5A-14 Capital – Minimum amount required for incorporation of bank. (a) No bank hereafter organized under the laws of Alabama shall have total initial capital accounts actually paid in of less than $800,000.00. (b) The superintendent may require a higher amount of capital accounts and where the bank will have no significance except as […]
Section 5-5A-30 – Transactions of Business on Legal Holidays; Use of Automated Teller Machine or Other Instrumentality, Transaction Fees, Disclosure; Limitation on Contractual Fee Restrictions, Intent of Limitation, Applicability.
Section 5-5A-30 Transactions of business on legal holidays; use of automated teller machine or other instrumentality, transaction fees, disclosure; limitation on contractual fee restrictions, intent of limitation, applicability. (a) Any bank may lawfully receive deposits or paychecks or sight drafts and transact any other business on any legal holiday, excepting Sunday, in the same manner […]
Section 5-5A-47 – Liability of Directors or Officers; Enforcement Powers of Superintendent.
Section 5-5A-47 Liability of directors or officers; enforcement powers of superintendent. If the directors or officers of any bank knowingly and willfully violate or knowingly and willfully permit any of the officers, agents, or employees of the bank to violate any of the provisions of this title, each and every director or officer engaging in […]
Section 5-5A-15 – Capital – Increase or Decrease.
Section 5-5A-15 Capital – Increase or decrease. Any bank shall with the consent of the superintendent have power and authority to increase or decrease its authorized capital in the manner provided for a corporation under the business corporation laws of this state. (Acts 1980, No. 80-658, §5-5-15.)
Section 5-5A-31 – Liability for Transactions on Legal Holidays.
Section 5-5A-31 Liability for transactions on legal holidays. A bank shall be liable for and chargeable with deposits received and other business transacted on a legal holiday the same as if such deposit were received or business transacted on a legal banking day and shall have the same protection for payment of checks or sight […]
Section 5-5A-16 – Issuance of Capital Notes and Debentures.
Section 5-5A-16 Issuance of capital notes and debentures. No bank shall issue capital notes or capital debentures except with the prior written approval of the superintendent under such conditions as he may impose. (Acts 1980, No. 80-658, §5-5-16.)