Section 5-13B-1 – Short Title.

Section 5-13B-1 Short title. This chapter shall be known and may be cited as the “Alabama Interstate and International Banking Act of 1995.” (Acts 1995, No. 95-115, p. 134, §1.)

Section 5-13B-10 – Penalties.

Section 5-13B-10 Penalties. The superintendent may enforce the provisions of this article by any appropriate action in the circuit courts of this state, including an action for civil money penalties or injunctive relief, provided, that the superintendent shall promptly give notice to the home state regulator of any enforcement action initiated against an out-of-state bank […]

Section 5-13B-11 – Authority to Issue Regulations; Cooperative Agreements; Fees.

Section 5-13B-11 Authority to issue regulations; cooperative agreements; fees. In order to carry out the purposes of this title, in addition to and cumulative with the authority and powers of the superintendent set forth elsewhere in this title, the superintendent may: (1) Adopt regulations; (2) Enter into cooperative, coordinating, or information-sharing agreements with any other […]

Section 5-13B-2 – Definitions.

Section 5-13B-2 Definitions. For purposes of this article: (a) “Acquire” means: (1) For a company to merge or consolidate with a bank holding company; (2) For a company to assume direct or indirect ownership or control of: (I) More than 25 percent of any class of voting shares of a bank holding company or a […]

Section 5-13B-3 – Scope of Article and Statement of Legislative Intent.

Section 5-13B-3 Scope of article and statement of legislative intent. This article sets forth the conditions under which a company may acquire an Alabama bank or an Alabama bank holding company or an Alabama bank holding company may acquire an out-of-state bank or bank holding company. This article is intended not to discriminate against out-of-state […]

Section 5-13B-4 – Permitted Acquisitions.

Section 5-13B-4 Permitted acquisitions. (a) No company may acquire an Alabama bank holding company or an Alabama state bank without the prior approval of the superintendent. (b) The approval of the superintendent under subsection (a) shall not be required where the acquisition is made: (1) In a transaction arranged by the superintendent or another bank […]

Section 5-13B-5 – Required Application.

Section 5-13B-5 Required application. (a) A company that proposes to make an acquisition under this article shall: (1) File with the superintendent a copy of the application that such company has filed with the responsible federal bank supervisory agency together with such additional information as the superintendent may prescribe; and (2) Pay to the superintendent […]

Section 5-13B-6 – Standards for Approval.

Section 5-13B-6 Standards for approval. (a) In deciding whether to approve an application for a proposed acquisition under this article, the superintendent shall consider whether the acquisition may: (1) Be detrimental to the safety and soundness of the Alabama state bank or the Alabama bank holding company ; (2) Result in a substantial reduction of […]

Section 5-13B-7 – Procedures Relating to Applications.

Section 5-13B-7 Procedures relating to applications. (a) The superintendent shall decide whether to approve an acquisition under this article within 60 days after receipt of a completed application; provided, that if the superintendent requests additional information from the applicant following receipt of a completed application, the time limit for decision by the superintendent shall be […]

Section 5-13B-8 – Reports; Examinations.

Section 5-13B-8 Reports; examinations. (a) To the extent specified by the superintendent by regulation, order, or written request, each bank holding company that directly or indirectly controls an Alabama state bank or an Alabama bank holding company, or the home state regulator of such company, shall submit to the superintendent: (1) One or more copies […]

Section 5-13B-9 – Agency Activities.

Section 5-13B-9 Agency activities. (a) Any Alabama state bank may, upon compliance with the requirements of this section, agree to receive deposits, renew time deposits, close loans, service loans, receive payments on loans and other obligations and, with the prior approval of the superintendent, perform other services as an agent for any depository institution. (b) […]