(a) The superintendent shall have all of the powers granted to him or her by the laws of this state to the extent appropriate to enable him or her to supervise each Alabama state branch, Alabama state agency, or Alabama representative office.
(b) If, after notice and a hearing, the superintendent finds that any person has violated any provision of this article or of any regulation or order issued under this article, he or she may, in addition to any other remedy or action available to the superintendent under the laws of this state, order such person to pay to the superintendent a civil penalty in such a manner and in such an amount as the superintendent shall determine in accordance with the laws of this state and regulations thereunder.
(c) In order to carry out the purposes under this article, the superintendent may:
(1) Enter into cooperative, coordinating, or information-sharing agreements with any other bank supervisory agency or any organization affiliated or representing one or more bank supervisory agencies;
(2) With respect to periodic examination or other supervision of a foreign bank that maintains an Alabama state branch, Alabama state agency, or Alabama representative office, accept reports of examinations performed by, and reports submitted to, other bank supervisory agencies in lieu of conducting examinations, or of receiving reports, as might otherwise be required under this division;
(3) Enter into joint examinations or joint enforcement actions with any other bank supervisory agency having concurrent jurisdiction over any foreign bank, provided, however, that the superintendent may at any time take any such actions independently if the superintendent determines that such actions are necessary or appropriate to carry out his or her responsibilities under this article and to ensure compliance with the laws of this state;
(4) Enter into contracts with any bank supervisory agency having concurrent regulatory or supervisory jurisdiction over a foreign bank maintaining an Alabama state branch, Alabama state agency, or Alabama representative office, to engage the services of such agency's examiners at a reasonable rate of compensation or provide the services of the superintendent's examiners at a reasonable rate of compensation, which contract shall be deemed a sole source, one vendor and one supplier contract under the procurement laws of this state and shall be exempt from competitive bidding requirements; and
(5) Assess supervisory and examination fees that shall be payable by foreign banks maintaining an Alabama state branch, Alabama state agency, or Alabama representative office in connection with the superintendent's performance of his or her duties under this article and in accordance with regulations adopted by the superintendent.
(d) Supervisory or examination fees assessed by the superintendent in accordance with the provisions of this article may be shared with other bank supervisory agencies or any organizations affiliated with or representing one or more bank supervisory agencies in accordance with agreements between the superintendent and such agencies or organizations.
Structure Code of Alabama
Title 5 - Banks and Financial Institutions.
Chapter 13B - Interstate and International Bank Acquisitions, Mergers and Branching.
Article 3 - Regulation of Foreign Banks.
Division 3 - Direct Branch, Agency, and Representative Offices of Foreign Banks.
Section 5-13B-81 - Branches and Agencies of Foreign Banks - Necessity of Licensure.
Section 5-13B-82 - Application to Establish and Maintain a Branch or Agency - Contents.
Section 5-13B-84 - Application Fee.
Section 5-13B-85 - No Concurrent Maintenance of Federal Branches or Agencies.
Section 5-13B-86 - Powers of Branch and Agency.
Section 5-13B-87 - Fiduciary Activities.
Section 5-13B-88 - Authority to Act as Agent.
Section 5-13B-89 - Representative Office of Foreign Banks - Necessity of Licensure.
Section 5-13B-90 - Representative Office - Application.
Section 5-13B-91 - Representative Office - Factors for Approval of Application.
Section 5-13B-92 - Representative Office - Permissible Activities.
Section 5-13B-93 - Representative Office - Revocation of License.
Section 5-13B-94 - Posting of License.
Section 5-13B-95 - Licenses Not Transferable.
Section 5-13B-96 - Appointment of Superintendent as Agent for Service of Process.
Section 5-13B-97 - Service of Process.
Section 5-13B-98 - Filing of Amendments to Articles of Incorporation.
Section 5-13B-99 - Amended License to Establish and Maintain a Branch or Agency.
Section 5-13B-100 - Change of Control of Foreign Bank.
Section 5-13B-101 - Relocation of Office; Written Notice Necessary.
Section 5-13B-102 - Examination; Payment of Fees.
Section 5-13B-103 - Supervision and Enforcement.
Section 5-13B-105 - Confidentiality of Examination Reports.
Section 5-13B-106 - Books, Accounts, and Records.
Section 5-13B-107 - Separate Assets.
Section 5-13B-108 - Disclosure of Lack of Deposit Insurance.
Section 5-13B-109 - Limitations on Payment of Interest on Deposits.
Section 5-13B-110 - Pledge of Assets.
Section 5-13B-111 - Asset Maintenance.
Section 5-13B-112 - Voluntary Closure of Branch, Agency, or Representative Office - Application.
Section 5-13B-113 - Suspension or Revocation of License; Factors.
Section 5-13B-114 - Immediate Suspension or Revocation.
Section 5-13B-115 - Seizure of Foreign Bank's Property and Business; Liquidation.