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Section 5-5A-1 - Procedure for Incorporation - Application for Permit. - (a) The proposed incorporators of a bank shall execute and...
Section 5-5A-2 - Procedure for Incorporation - Notice of Intention to Incorporate. - Before a bank can become incorporated under the laws of...
Section 5-5A-3 - Procedure for Incorporation - Affidavit of Proposed Incorporators; Affidavit of Proposed Stockholders; Submission of Proposed Certificate of Incorporation; Disclosure to Stockholders. - After the notice of intention to incorporate has been published,...
Section 5-5A-4 - Procedure for Incorporation - Investigation as to Fitness of Stockholders and Executive Officers and Necessity for Banks. - The superintendent shall ascertain whether the character and general fitness...
Section 5-5A-5 - Procedure for Incorporation - Filing of Objections to Incorporation of Proposed Bank; Investigation of Objections. - Any bank doing business in the community or any reputable...
Section 5-5A-6 - Procedure for Incorporation - Certificate of Superintendent of Banks Authorizing Filing of Certificate of Incorporation. - If the superintendent shall be satisfied from his investigation that...
Section 5-5A-7 - Procedure for Incorporation - Filing and Recordation of Certificate of Incorporation. - The official or officials designated by the business corporation laws...
Section 5-5A-8 - Procedure for Incorporation - Refusal to Permit Incorporation; Appeal From Refusal to Banking Board. - If the superintendent is of the opinion from his investigation...
Section 5-5A-9 - Procedure for Incorporation - Judicial Review. - Nothing in this chapter shall be construed to prevent the...
Section 5-5A-10 - Permit to Transact Business - Required. - No bank shall engage in the banking business until it...
Section 5-5A-11 - Permit to Transact Business - Examination; Issuance and Recordation of Permit. - The superintendent shall, before issuing his permit to any bank...
Section 5-5A-12 - Membership in Federal Deposit Insurance Corporation, Etc. - All banks now or hereafter operating under the laws of...
Section 5-5A-13 - Filing Fee; Other Fees. - (a) The Banking Board shall from time to time fix...
Section 5-5A-14 - Capital - Minimum Amount Required for Incorporation of Bank. - (a) No bank hereafter organized under the laws of Alabama...
Section 5-5A-15 - Capital - Increase or Decrease. - Any bank shall with the consent of the superintendent have...
Section 5-5A-16 - Issuance of Capital Notes and Debentures. - No bank shall issue capital notes or capital debentures except...
Section 5-5A-17 - Amendment of Certificate of Incorporation; Approval of Amended Certificate of Incorporation. - A bank may amend its certificate of incorporation in the...
Section 5-5A-18 - Powers of Banks Generally. - Corporations formed for the purpose of doing business as a...
Section 5-5A-18.1 - Banks and Trust Companies to Have Power of Federally Chartered or Regulated Financial Institution. - In addition to all other rights and powers provided under...
Section 5-5A-19 - Reserves. - (a) A bank which is not a member of the...
Section 5-5A-20 - Branch Banks; Commercial Affiliates. - (a) Alabama banks may establish a branch or office for...
Section 5-5A-21 - Surplus; Restriction on Dividends. - Every bank shall transfer to surplus each year at least...
Section 5-5A-22 - Limits of Indebtedness. - (a) No bank shall make a loan to any one...
Section 5-5A-23 - Investments and Loans With Respect to Housing. - (a) Banks, insurance companies and savings and loan associations are...
Section 5-5A-25 - Acceptance of Drafts or Bills of Exchange Arising From Transactions Involving Shipment of Goods - Authority. - Any bank in Alabama may accept drafts or bills of...
Section 5-5A-26 - Acceptance of Drafts or Bills of Exchange Arising From Transactions Involving Shipment of Goods - Limitations. - No bank shall accept, whether in a foreign or domestic...
Section 5-5A-27 - Loans Secured by Own Stock; Purchase of Own Stock; Ownership of Capital Stock of Other Banks. - No bank shall make a loan taking its own stock...
Section 5-5A-28 - Pledge of Assets. - No bank may pledge assets as security for deposits, except...
Section 5-5A-29 - Security Not Required When Deposits Insured. - Notwithstanding any provision of law of this state or of...
Section 5-5A-30 - Transactions of Business on Legal Holidays; Use of Automated Teller Machine or Other Instrumentality, Transaction Fees, Disclosure; Limitation on Contractual Fee Restrictions, Intent of Limitation, Applicability. - (a) Any bank may lawfully receive deposits or paychecks or...
Section 5-5A-31 - Liability for Transactions on Legal Holidays. - A bank shall be liable for and chargeable with deposits...
Section 5-5A-32 - Closing of Banks, etc., Permitted on One Business Day of Each Week. - (a) Any bank or any branch or branches thereof may...
Section 5-5A-33 - Bank to Pay Checks Drawn on It at Par. - Any bank shall pay all checks drawn on it and...
Section 5-5A-35 - Agreements Between Principal and Sureties on Bond for Deposit of Money and Assets in Bank, Etc. - It shall be lawful for any party of whom a...
Section 5-5A-36 - Notice Upon Maturity of Certificate of Deposit Issued for More Than 90 Days. - In the case of certificates of deposit issued for more...
Section 5-5A-37 - Rights of Minors. - A minor may make, in her or his own name,...
Section 5-5A-38 - Disposition of Small Deposits of Deceased Person - to Whom Payable; When Bond Required. - Whenever a person shall die leaving deposits in a bank...
Section 5-5A-39 - Disposition of Small Deposits of Deceased Person - Time for Payment; When Payment Prohibited. - No payment shall be made pursuant to Section 5-5A-38 by...
Section 5-5A-40 - Disposition of Deposit in Trust for Another Upon Death of Trustee. - Whenever any deposit shall be made in any bank by...
Section 5-5A-41 - Payment of Deposits Made in Names of Two Persons Upon Death of One; More Than Two Persons With Provision for Survivorship. - (a) Any deposit heretofore or hereafter made in any bank...
Section 5-5A-42 - Adverse Claims to Deposits. - Notice to any bank of an adverse claim to a...
Section 5-5A-43 - Disclosure of Customer Financial Records. - A bank shall disclose financial records of its customers pursuant...
Section 5-5A-44 - Acquisition of Majority of Voting Shares of a Bank; Procedure. - (a) No person, acting directly or indirectly or through or...
Section 5-5A-45 - Initiation of Run on Banks, Etc. - Any person or persons whose business it is, either as...
Section 5-5A-46 - False, etc., Statements, etc., Affecting Financial Standing of Bank. - Any person who shall willfully and maliciously make, circulate or...
Section 5-5A-47 - Liability of Directors or Officers; Enforcement Powers of Superintendent. - If the directors or officers of any bank knowingly and...