reglab/housing_qa huggingface dataset:
AL Code § 5-7A-24 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 7A - Bank Merger, Consolidation, or Conversion.|Article 2 - Conversion of National Banks Into State Banks.|Section 5-7A-24 - Issuance of Stock by State Bank.

Section 5-7A-24Issuance of stock by state bank. Such state bank shall have authority to issue to the stockholders of the national bank from which it was converted shares of stock of the same amount and of the same par value as is held by each of said stockholders in such national bank. (Acts 1980, No. 80-658, §5-7-24.)
AL Code § 5-7A-40 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 7A - Bank Merger, Consolidation, or Conversion.|Article 3 - Conversion of State Banks Into or Consolidation With National Banks.|Section 5-7A-40 - Authorized; Exchange of Stock.

Section 5-7A-40Authorized; exchange of stock. Any state bank may, with the consent of the holders of a majority in amount of its stock obtained at a meeting of the shareholders called therefor, be converted or merged into or consolidate with a national bank, in such manner as may, at the time of such conversion, merger or consolidation, be prescribed by the laws of the United States, and the stock of such state bank may be exchanged for stock in such national bank upon such terms as the consenting shareholders may, at the meeting at which the conversion, merger or consolidation is authorized, determine or upon such terms as the holders of a majority of the stock of such state bank may, at any other meeting called for such purpose, determine. All proceedings relating to such a conversion, merger or consolidation shall be conducted in accordance with the requirements of Chapter 2A of Title 10, except that if any provision thereof shall conflict with or be more restrictive than the requirements set forth at 12 U.S.C. §214a then the procedures set forth in such §214a shall govern. (Acts 1980, No. 80-658, p. 1259, §5-7-40; Acts 1981, No. 81-504, p. 863, §1.)
AL Code § 5-7A-41 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 7A - Bank Merger, Consolidation, or Conversion.|Article 3 - Conversion of State Banks Into or Consolidation With National Banks.|Section 5-7A-41 - Meeting of Stockholders for Purpose of Conversion or Consolidation.

Section 5-7A-41Meeting of stockholders for purpose of conversion or consolidation. All meetings of shareholders, called for any of the purposes provided for in Section 5-7A-40, shall be called by resolution of the board of directors. Notice of such meeting and of the purposes thereof shall be published once a week for four consecutive weeks prior to the date of such meeting in some newspaper with a general circulation in the city, town or village in which the principal place of business of said state bank is located, provided, that newspaper publication may be dispensed with entirely if waived by all the shareholders, and in the case of a merger or consolidation, one publication at least 10 days before the meeting shall be sufficient if publication for four weeks is waived by holders of at least two-thirds of each class of capital stock. The state bank shall send such notice to each shareholder of record by registered mail or by certified mail at least 10 days prior to the meeting, which notice may be waived specifically by any shareholder. (Acts 1980, No. 80-658, p. 1259, §5-7-41; Acts 1981, No. 81-504, p. 863, §1.)
AL Code § 5-7A-42 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 7A - Bank Merger, Consolidation, or Conversion.|Article 3 - Conversion of State Banks Into or Consolidation With National Banks.|Section 5-7A-42 - Transfer of Property of State Bank to National Bank.

Section 5-7A-42Transfer of property of state bank to national bank. At the time when such conversion of or consolidation or merger by the state bank with a national bank, under the charter of the latter, becomes effective, all the property of the state bank including all its rights, title and interest in and to all property of whatsoever kind, whether real, personal or mixed, and things in action, and every right, privilege, interest and asset of any conceivable value or benefit then existing, belonging or appertaining to it or which would inure to it, shall immediately, by act of law and without any conveyance or transfer and without any further act or deed, be vested in and become the property of the national bank, which shall have, hold and enjoy the same in its own right as fully and to the same extent as if the same were possessed, held and enjoyed by the state bank. (Acts 1980, No. 80-658, p. 1259, §5-7-42; Acts 1981, No. 81-504, p. 863, §1.)
AL Code § 5-7A-43 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 7A - Bank Merger, Consolidation, or Conversion.|Article 3 - Conversion of State Banks Into or Consolidation With National Banks.|Section 5-7A-43 - Continuation of Identity, Obligations, etc., of State Bank.

Section 5-7A-43Continuation of identity, obligations, etc., of state bank. Upon such conversion, merger or consolidation becoming effective, the national bank shall be deemed to be a continuation of the entity and of the identity of the state bank and all the rights, obligations and relations of the state bank to or in respect to any person, estate, creditor, depositor, trustee or beneficiary of any trust and in, or in respect to, any executorship or trusteeship or other trust or fiduciary function shall remain unimpaired. The national bank, as of the time of the taking effect of such conversion, merger or consolidation shall succeed to all such rights, obligations, relations and trusts and the duties and liabilities connected therewith and shall execute and perform each and every such trust or relation in the same manner as if the national bank had itself assumed the trust or relation, including the obligations and liabilities connected therewith. If the state bank is acting as administrator, co-administrator, executor, co-executor, trustee or co-trustee of or in respect to any estate or trust being administered under the laws of this state, such relation, as well as any other or similar fiduciary relations, and all rights, privileges, duties and obligations connected therewith shall remain unimpaired and shall continue into and in said national bank from and as of the time of the taking effect of such conversion, merger or consolidation, irrespective of the date when any such relation may have been created or established and irrespective of the date of any trust agreement relating thereto or the date of the death of any testator or decedent whose estate is being so administered. Nothing done in connection with the conversion to or merger or consolidation of a state bank with a national bank, shall, in respect to any such executorship, trusteeship or similar fiduciary relation, be deemed to be or to effect, under the laws of this state, a renunciation or revocation of any letters of administration or letters testamentary pertaining to such relation, nor a removal or resignation from any such executorship or trusteeship or other fiduciary relationship, nor shall the same be deemed to be of the same effect as if the executor or trustee or other fiduciary had died or otherwise become incompetent to act. (Acts 1980, No. 80-658, p. 1259, §5-7-43; Acts 1981, No. 81-504, p. 863, §1.)
AL Code § 5-7A-44 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 7A - Bank Merger, Consolidation, or Conversion.|Article 3 - Conversion of State Banks Into or Consolidation With National Banks.|Section 5-7A-44 - Rights of Dissenting Shareholders.

Section 5-7A-44Rights of dissenting shareholders. The rights of shareholders of a national bank dissenting from the conversion, merger or consolidation of the bank shall be governed exclusively by the applicable laws of Congress. A shareholder of a state bank who votes against the conversion, merger or consolidation of that state bank with or to a national bank, or who has given notice in writing to the bank at or prior to such meeting that he dissents from the conversion, merger or consolidation shall be entitled to receive in cash the value of the shares held by him, if and when the conversion, merger or consolidation is consummated, upon written request made to the resulting national bank at any time before 30 days after the date of consummation of such conversion, merger or consolidation, accompanied by the surrender of his stock certificates. The value of such shares shall be determined as of the date on which the shareholders meeting was held authorizing the conversion, merger or consolidation by a committee of three persons, one to be selected by unanimous vote of the dissenting shareholders entitled to receive the value of their shares, one by the directors of the resulting national bank and the third by the two so chosen. The valuation agreed upon by any two of three appraisers thus chosen shall govern; but, if the value so fixed shall not be satisfactory to any dissenting shareholder who has requested payment as provided herein, such shareholder may within five days after being notified of the appraised value of his shares appeal to the superintendent, who shall cause a reappraisal to be made, which shall be final and binding as to the value of the shares of the appellant. If within 90 days from the date of consummation of the conversion, merger or consolidation, for any reason one or more of the appraisers is not selected as herein provided, or the appraisers fail to determine the value of such shares, the superintendent shall upon written request of any interested party, cause an appraisal to be made, which shall be final and binding on all parties. The expenses of the superintendent in making the reappraisal, or the appraisal as the case may be, shall be paid by the resulting national bank. The plan of conversion, merger or consolidation, shall provide the manner of disposing of the shares of the resulting national bank not taken by the dissenting shareholders of the state bank. (Acts 1981, No. 81-504, p. 863, §2.)
AL Code § 5-7A-46 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 7A - Bank Merger, Consolidation, or Conversion.|Article 3 - Conversion of State Banks Into or Consolidation With National Banks.|Section 5-7A-46 - Sections Not to Affect General or Local Law, Etc.

Section 5-7A-46Sections not to affect general or local law, etc. Except to the extent necessary to give effect to Section 5-7A-45(b), no general or local law or general law of local application shall be deemed to have been modified or repealed by Sections 5-7A-40 through 5-7A-46, and nothing contained herein shall be deemed in any way to change or repeal the provisions of Section 5-2A-7 or 5-5A-20. (Acts 1981, No. 81-504, p. 863, §5.)
AL Code § 5-7A-60 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 7A - Bank Merger, Consolidation, or Conversion.|Article 4 - Conversion of Savings Institutions Into State Banks.|Section 5-7A-60 - Purpose.

Section 5-7A-60Purpose. It is the purpose of this article to permit state and federally chartered savings and loan associations and savings banks to convert to state chartered banks with the approval of the Superintendent of Banks for the State of Alabama in accordance with the provisions of this article. (Acts 1990, No. 90-289, p. 387, §1.)
AL Code § 5-7A-61 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 7A - Bank Merger, Consolidation, or Conversion.|Article 4 - Conversion of Savings Institutions Into State Banks.|Section 5-7A-61 - Definitions.

Section 5-7A-61Definitions. As used in this article, the following terms shall have the following meanings, respectively, unless the context clearly indicates otherwise: (1) SAVINGS INSTITUTION. A savings and loan association or savings bank organized under the laws of this state or organized under the laws of the United States and having its principal place of business in this state, whether a "capital stock saving institution" which is authorized to issue capital stock, or a "mutual savings institution," shares of which are owned by its members. (2) RESULTING BANK. The state chartered bank that results from conversion of a savings institution to a state chartered bank pursuant to this article. (3) SUPERINTENDENT. The Superintendent of Banks for the State of Alabama. (4) STATE CHARTERED BANK. A bank the same as if such bank were incorporated, chartered and permitted to do business, all as provided in Section 5-5A-1 et seq. (5) PLAN OF CONVERSION. That written document containing all the information and meeting the requirements as set forth in Section 5-7A-62(1). (6) APPLICATION FOR CONVERSION. That written application, on a form to be prescribed by the superintendent, which is filed with the superintendent requesting approval of a plan of conversion. (7) DEPARTMENT. The State Banking Department as provided for and created in Section 5-2A-1. (Acts 1990, No. 90-289, p. 387, §2.)
AL Code § 5-7A-63 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 7A - Bank Merger, Consolidation, or Conversion.|Article 4 - Conversion of Savings Institutions Into State Banks.|Section 5-7A-63 - Resulting Bank as Continuation of Savings Institution.

Section 5-7A-63Resulting bank as continuation of savings institution. Except insofar as the superintendent requires the converting savings institution to terminate certain activities and dispose of certain assets in order to meet the requirements applicable to state chartered banks, upon the conversion of any savings institution into a state chartered bank, the corporate existence of such savings institution shall not terminate, but such resulting bank shall be deemed to be a continuation of the savings institution so converted, and all property of the converted savings institution including its rights, titles and interests in and to all property of whatsoever kind, character or description, whether real, personal or mixed, and things in action and every right, privilege, interest and asset of any conceivable value or benefit, and all obligations, liabilities, charges, liens, encumbrances, judgments, and claims then existing or pertaining to it or which would inure to or against it, shall immediately by operation of law and without the necessity of any conveyance or transfer and without the necessity of any further act or deed remain and be vested in and continue to be the property or obligation of such resulting bank into which the savings institution has converted. Subject to the laws, provisions and regulations applicable to state chartered banks, such resulting bank shall have, hold, enjoy and be obligated the same in its own right as fully and to the same extent as the same was possessed, held, enjoyed and encumbered by the converting savings institution. All pending actions, and other judicial or administrative proceedings to which the converting savings institution is a party shall not be deemed to have abated or to have been discontinued by reason of such conversion, but may be prosecuted to final judgment or order in the same manner as if such conversion had not occurred, and the resulting bank may continue such action in its corporate name as a state chartered bank, and any judgment or order may be entered for or against it in such corporate name. (Acts 1990, No. 90-289, p. 387, §4.)
AL Code § 5-7A-64 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 7A - Bank Merger, Consolidation, or Conversion.|Article 4 - Conversion of Savings Institutions Into State Banks.|Section 5-7A-64 - Maintenance and Operation of Offices.

Section 5-7A-64Maintenance and operation of offices. Following the conversion of a savings institution to a state chartered bank pursuant to this article, the resulting bank may continue to maintain and operate as banking offices all offices maintained and operated by the savings institution at the time of such conversion. (Acts 1990, No. 90-289, p. 387, §5.)
AL Code § 5-7A-65 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 7A - Bank Merger, Consolidation, or Conversion.|Article 4 - Conversion of Savings Institutions Into State Banks.|Section 5-7A-65 - Expansion or Branching Limited.

Section 5-7A-65Expansion or branching limited. Except as provided in Section 5-7A-64, nothing in this article is to be construed, interpreted or applied to allow any existing state chartered bank, any resulting bank or any state chartered bank resulting from a plan of conversion under this article to expand or branch into any place in any manner or by any method not available to state chartered banks prior to enactment of this article. (Acts 1990, No. 90-289, p. 387, §6.)
AL Code § 5-8A-1 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 8A - Liquidation of Banks.|Article 1 - Solvent Banks.|Section 5-8A-1 - Liquidation of Solvent Banks.

Section 5-8A-1Liquidation of solvent banks. Any solvent bank may dissolve under the provisions of Alabama law relating to voluntary dissolution of a business corporation provided that the superintendent has given his written approval to such dissolution. The superintendent may require the directors to give bond in an amount fixed by him with surety or sureties to be approved by him, payable to the State of Alabama, for the protection of the superintendent and all other persons interested; provided, however, the amount of any such bond required shall not be greater than the total liability of the bank to its depositors and other creditors. Upon receipt of the written approval of the superintendent of the statutory dissolution procedures, it shall be unlawful for said bank to receive any further deposits. (Acts 1980, No. 80-658, §5-8-1.)
AL Code § 5-8A-20 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 8A - Liquidation of Banks.|Article 2 - Insolvent Banks.|Section 5-8A-20 - Proceedings of Superintendent Before Banking Board as to Defaults or Misconduct of Bank.

Section 5-8A-20Proceedings of superintendent before banking board as to defaults or misconduct of bank. Whenever it shall appear to the superintendent that any bank has violated its charter or any law of the state, or is conducting business in any unauthorized manner, or that the bank may suspend payment of its obligations, or if its capital is impaired and not made good under the requirement of the superintendent within the required time, or if any such bank or an affiliate of such bank as defined in Section 5-3A-1 shall refuse to submit its papers, books, and concerns to the inspection of the superintendent or any examiner, or if any officer thereof shall refuse to be examined on oath touching the conducting of any such bank, or if any such bank shall suspend payment of its obligations, or if from any examination the superintendent shall have reason to conclude that such bank is in an unsound or unsafe condition to transact the business for which it was organized, or that it is unsafe for it to continue business, or if any such bank shall neglect or refuse to observe any order of the superintendent directing or requiring the doing or cessation of any particular thing required to be done or not to be done by law, the superintendent may call a meeting of the Banking Board and submit to the board matters of default or misconduct in the affairs of the bank, of which the bank shall have notice and upon which the bank may be heard in person or by counsel, and if the board or a majority of the board so directs, the superintendent shall forthwith take possession of the property and business of such bank and retain such possession until such bank shall resume business or a receiver is appointed, as provided in this chapter. Notwithstanding the provisions of Section 5-2A-43, for purposes of this section, a quorum of the board shall be a majority of those present and entitled to vote. (Acts 1980, No. 80-658, §5-8-20; Act 2010-548, p. 966, §1.)
AL Code § 5-8A-21 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 8A - Liquidation of Banks.|Article 2 - Insolvent Banks.|Section 5-8A-21 - Liquidation of Bank by Superintendent Without Assent of Banking Board.

Section 5-8A-21Liquidation of bank by superintendent without assent of Banking Board. If a majority of the directors of any bank so request in writing and the bank has violated any of the provisions of the banking laws or is insolvent, the superintendent may take charge of and liquidate the affairs of the bank as provided in this chapter under Section 5-8A-20 without calling a meeting of the Banking Board. (Acts 1980, No. 80-658, §5-8-21.)
AL Code § 5-8A-22 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 8A - Liquidation of Banks.|Article 2 - Insolvent Banks.|Section 5-8A-22 - Institution of Civil Action for Vacation of Charter, Liquidation, etc., of Bank.

Section 5-8A-22Institution of civil action for vacation of charter, liquidation, etc., of bank. The circuit court of the county in which the principal place of business of the bank is located, sitting without a jury may upon application of the superintendent vacate the charter of a bank, liquidate a bank, or appoint a receiver if the directors of the bank knowingly violate or knowingly permit any of the officers, agents or employees of the bank to violate any of the provisions of this title. No civil action shall be instituted by any other person to vacate the charter of or liquidate or appoint a receiver for any bank except as authorized in Section 5-8A-24. (Acts 1980, No. 80-658, §5-8-22.)
AL Code § 5-8A-23 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 8A - Liquidation of Banks.|Article 2 - Insolvent Banks.|Section 5-8A-23 - Acquisition of Possession of Property and Business of Bank by Superintendent; Notice to Holders of Bank Assets.

Section 5-8A-23Acquisition of possession of property and business of bank by superintendent; notice to holders of bank assets. The superintendent shall not take possession of the property and business of any bank under the provisions of this chapter unless requested in writing to do so by a majority of the directors of the bank under Section 5-8A-21 or directed to do so by the Banking Board under Section 5-8A-20. On taking possession of the property and business of any such bank, the superintendent shall give notice of such fact to all banks in this state and other parties or corporations known to be holding or in possession of any assets of such bank. (Acts 1980, No. 80-658, §5-8-23.)
AL Code § 5-8A-24 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 8A - Liquidation of Banks.|Article 2 - Insolvent Banks.|Section 5-8A-24 - Appointment of Receiver to Liquidate Bank.

Section 5-8A-24Appointment of receiver to liquidate bank. The superintendent may under his or her hand and official seal appoint a receiver to liquidate and distribute the assets of any bank taken possession of by the superintendent under the provisions of this chapter, the certificate of appointment to be filed in the office of the superintendent and a certified copy in the office of the probate judge in the county in which the principal office of such bank is located. The receiver may be the Federal Deposit Insurance Corporation or any other agency or corporation created by the United States to act in such capacity or any person selected by the superintendent; provided, however, no examiner shall be appointed receiver of any bank whose books, papers, and affairs the examiner shall have examined within one year next preceding the appointment of such receiver. Any receiver appointed other than the Federal Deposit Insurance Corporation, or any other agency or corporation created by the United States to act in such capacity shall apply for and shall be entitled to an ex parte order confirming his or her appointment as receiver from the receivership court. (Acts 1980, No. 80-658, §5-8-24; Act 2010-548, p. 966, §1.)