If the superintendent shall be satisfied from his investigation that the character and general fitness of the persons named as stockholders and executive officers are such as to command the confidence of the community in which such bank is proposed to be located and that there is sufficient business to support said bank in said community and that the convenience and needs of said community shall be served, he shall pass upon the sufficiency of the certificate of incorporation; and, if he approves the certificate he shall issue under his hand and official seal a certificate authorizing the proper official or officials to file the certificate of incorporation upon proof of payment of subscription to the capital subscribed for as required by law. The superintendent shall transmit the proposed certificate of incorporation, together with said certificate made by him to the official or officials with which a certificate of incorporation would be filed under the business corporation laws of this state, and the superintendent shall keep on file in his office a duplicate of the certificates made by him.
Structure Code of Alabama
Title 5 - Banks and Financial Institutions.
Chapter 5A - Organization and Operation of Banks.
Section 5-5A-1 - Procedure for Incorporation - Application for Permit.
Section 5-5A-2 - Procedure for Incorporation - Notice of Intention to Incorporate.
Section 5-5A-9 - Procedure for Incorporation - Judicial Review.
Section 5-5A-10 - Permit to Transact Business - Required.
Section 5-5A-11 - Permit to Transact Business - Examination; Issuance and Recordation of Permit.
Section 5-5A-12 - Membership in Federal Deposit Insurance Corporation, Etc.
Section 5-5A-13 - Filing Fee; Other Fees.
Section 5-5A-14 - Capital - Minimum Amount Required for Incorporation of Bank.
Section 5-5A-15 - Capital - Increase or Decrease.
Section 5-5A-16 - Issuance of Capital Notes and Debentures.
Section 5-5A-18 - Powers of Banks Generally.
Section 5-5A-20 - Branch Banks; Commercial Affiliates.
Section 5-5A-21 - Surplus; Restriction on Dividends.
Section 5-5A-22 - Limits of Indebtedness.
Section 5-5A-23 - Investments and Loans With Respect to Housing.
Section 5-5A-28 - Pledge of Assets.
Section 5-5A-29 - Security Not Required When Deposits Insured.
Section 5-5A-31 - Liability for Transactions on Legal Holidays.
Section 5-5A-32 - Closing of Banks, etc., Permitted on One Business Day of Each Week.
Section 5-5A-33 - Bank to Pay Checks Drawn on It at Par.
Section 5-5A-36 - Notice Upon Maturity of Certificate of Deposit Issued for More Than 90 Days.
Section 5-5A-37 - Rights of Minors.
Section 5-5A-40 - Disposition of Deposit in Trust for Another Upon Death of Trustee.
Section 5-5A-42 - Adverse Claims to Deposits.
Section 5-5A-43 - Disclosure of Customer Financial Records.
Section 5-5A-44 - Acquisition of Majority of Voting Shares of a Bank; Procedure.
Section 5-5A-45 - Initiation of Run on Banks, Etc.
Section 5-5A-46 - False, etc., Statements, etc., Affecting Financial Standing of Bank.
Section 5-5A-47 - Liability of Directors or Officers; Enforcement Powers of Superintendent.