§31A-4-40. Permissive Closing on Fixed Weekday or Portions of Weekdays; Notice of Closings; Emergency Closings; Procedures
(a) Any banking institution may elect to operate branches that are open for business on the days and for the hours as determined appropriate by that banking institution. Prior to changing the days or hours a branch or main office will be open for business, the banking institution shall provide notice of the change to […]
§31A-4-41. Additional Authority of Board as to Limited Operations and Cessation of Business by State Banks
The board may, by and with the consent of the Governor, permit or require any state bank or any number or all of such banks to: (1) Operate and do business in such manner and under such limitations and regulations as the board, with the approval of the Governor, may prescribe, or
§31A-4-42. Unlawful for Persons Other Than Banking Institutions to Engage in the Banking Business; Penalties
No person, except banking institutions chartered under the laws of this state, or authorized to conduct a banking business in this state under the laws of the United States of America or those chartered under the laws of another state or the United States of America with branch offices in this state under the provisions […]
§31A-4-32. Adverse Claims to Deposits and Property Held in Safe Deposit
(a) A banking institution shall not be required, in the absence of a court order or indemnity required by this section, to recognize any claim to, or any claim of authority to exercise control over, a deposit account or property held in safe deposit (whether by the institution or in a safe-deposit box or other […]
§31A-4-33. Deposits in Trust; Deposits in More Than One Name; Limitation on Liability of Institutions Making Payments From Certain Accounts; Notice Requirements; Pledges or Garnishment of Joint Accounts; Financial Institutions Duties; Multiple-Fiduciary Accounts; Payment of Multiple-Fiduciary Accounts
(a) If any deposit in any banking institution be made by any person describing him or herself in making such deposit as trustee for another, and no other or further notice of the existence and terms of a legal and valid trust than such description shall be given in writing to the banking institution, in […]
§31A-4-25. Dividends; Limitations; Penal Provisions
(a) The directors of any state-chartered banking institution may, quarterly, semiannually or annually, declare a dividend of so much of the net profits of that banking institution as they shall judge expedient, except that until the surplus fund of such banking institution shall equal its common stock, no dividends shall be declared unless there has […]
§31A-4-26. Limitation on Loans and Extensions of Credit; Limitation on Investments; Loans to Executive Officers and Directors of Banks and Employees of the Banking Department; Exceptions; Valuation of Securities
(a) (1) The total loans and extensions of credit made by a state-chartered banking institution to any one person or common enterprise and not fully secured, as determined in a manner consistent with subdivision (2) of this subsection, may not exceed 15 percent of the unimpaired capital and unimpaired surplus of that state-chartered banking institution […]
§31A-4-27. Loans Eligible for Federal Insurance or Guaranty
Banking institutions are authorized: (a) To make such loans and advances of credit and purchases of obligations representing loans and advances of credit as are eligible for insurance or guaranty by the federal housing commissioner or United States administrator of veterans' affairs, or by any other officer, department, agency or instrumentality of the United States […]
§31A-4-28. Investments in Obligations Secured by Mortgages or Deeds of Trust Insured or Guaranteed by United States; Securities of Federal Agencies; Use of Such Obligations and Securities as Collateral, etc.
It shall be lawful for banking institutions to invest their funds and the moneys in their custody or possession eligible for investment, in notes, bonds or other obligations secured by mortgages or deeds of trust insured or guaranteed by the federal housing commissioner or United States administrator of veterans' affairs or by any other officer, […]
§31A-4-29. Application of Other Laws to Loans and Investments Under §§31a-4-27 and 31a-4-28
No law of this state prescribing the security upon which loans or investments may be made or the nature, amount, or form of such security, or prescribing or limiting the period for which loans or investments may be made shall be deemed to apply to loans or investments made pursuant to the provisions of the […]