(a) No foreign bank shall establish or maintain an Alabama representative office unless such foreign bank is licensed by the superintendent to maintain such an Alabama representative office.
(b) Nothing in subsection (a) shall be deemed to prohibit a foreign bank which maintains a federal agency or federal branch in this state from establishing or maintaining one or more Alabama representative offices.
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.