reglab/housing_qa huggingface dataset:
AL Code § 5-3A-34 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 3A - Examinations of Banks; Reports of Banks.|Article 2 - Examination of Bank Services Providers Act.|Section 5-3A-34 - Confidentiality of Examination Reports; Availability of Copies.

Section 5-3A-34THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION, EFFECTIVE APRIL 4, 2018. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.  Examination reports of service providers created or obtained by the superintendent or State Banking Department are confidential subject to Sections 5-3A-3 and 5-3A-11. The superintendent may furnish a copy, or portions thereof, of a report of any examination performed by the superintendent of the performance, condition, and affairs of any service provider and any other information obtained through examination of the service provider to entities as provided in Section 5-3A-3, including the board of directors of the serviced bank, under the same terms and with the same limitations as set forth for other examination reports, data, and information under Section 5-3A-3. Additionally, the superintendent may furnish copies of his or her reports of examination, and any other information obtained through examination of the service provider, to the FFIEC, and to the board of directors of the service provider, under the same terms and with the same limitations as provided in Section 5-3A-3. (Act 2018-500, §2.)
AL Code § 5-3A-35 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 3A - Examinations of Banks; Reports of Banks.|Article 2 - Examination of Bank Services Providers Act.|Section 5-3A-35 - Powers of Superintendent.

Section 5-3A-35THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION, EFFECTIVE APRIL 4, 2018. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.   (a) The superintendent may enter into agreements, which shall be deemed sole source, one vendor, and one supplier contracts under the procurement laws of this state and shall be exempt from competitive and other bid requirements, with any bank supervisory agency that has concurrent jurisdiction over a service provider to do either of the following: (1) Engage the services of the examiners of any bank supervisory agency at a reasonable rate of compensation. (2) Provide the services of the examiners of the State Banking Department to any bank supervisory agency at a reasonable rate of compensation. (b) The superintendent may enter into corrective agreements with a service provider or may issue corrective orders to a service provider if the superintendent determines the actions are necessary to ensure the safe and sound operation of a serviced bank or serviced banks or to respond to a danger, or potential danger, to the public welfare. (c) The superintendent may enter into joint examinations or joint enforcement actions with other bank supervisory agencies having concurrent jurisdiction over a service provider. (Act 2018-500, §2.)
AL Code § 5-6A-1 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 6A - Directors, Officers, and Employees.|Article 1 - General Provisions.|Section 5-6A-1 - Directors of Banks to Own Stock in Bank; Citizenship and Residence of Directors.

Section 5-6A-1Directors of banks to own stock in bank; citizenship and residence of directors. Not less than 75 percent of the directors of a bank shall, during their whole term of service, be citizens of the United States. Every director of a bank shall be the owner and holder of shares of stock in the bank or parent bank holding company. Every director shall hold such shares in his or her own name, unpledged and unencumbered in any way except statutory lien which might attach in favor of such corporation. No person convicted of a felony or a crime involving moral turpitude shall serve as a director. At least 51 percent of the directors of every bank shall be residents of the state. Any director at any time violating any of the provisions of this section shall be removed from office by the board of directors or by the superintendent when the facts are made known to the superintendent. (Acts 1980, No. 80-658, §5-6-1; Act 98-244, p. 403, §1.)
AL Code § 5-6A-2 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 6A - Directors, Officers, and Employees.|Article 1 - General Provisions.|Section 5-6A-2 - Oath of Directors.

Section 5-6A-2Oath of directors. Every such director shall, within 30 days after his election, take and subscribe, in duplicate, an oath that he will diligently and honestly perform his duties as such director, not knowingly violate or permit to be violated any provision of the banking law of this state and that he is the owner in good faith of the shares of stock of the bank or company required to qualify him for such office, standing in his own name on its books. A copy of such oath shall be forthwith filed with the Superintendent of Banks. No director shall perform the duties of his office until such oath is made, and in case a director fails to make such oath, his place on the board shall be declared vacant and his successor elected as prescribed by the bylaws of the bank, such successor being required to have the same qualifications and take the same oath as provided by this chapter. (Acts 1980, No. 80-658, §5-6-2.)
AL Code § 5-6A-3 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 6A - Directors, Officers, and Employees.|Article 1 - General Provisions.|Section 5-6A-3 - Meeting of Board of Directors; Bonds of Officers and Employees of Banks.

Section 5-6A-3Meeting of board of directors; bonds of officers and employees of banks. (a) The board of directors of any bank shall hold regular meetings at such time as may be fixed by the bylaws, at least once every two months, and shall at all times be subject to call by the president or by any two members of the board. Notwithstanding contrary provision in the certificate of incorporation or bylaws of a bank, meetings of the board of directors may be called by the superintendent and held at any place he requires. (b) The board of directors, at their first meeting after election, shall fix and prescribe the amount of bond that shall be required of each officer and employee of the bank, and shall not be less than the amount that may have been fixed or that may be hereafter fixed by the superintendent for officers and employees of banks of the class to which it belongs. They shall require bonds, either individual or in blanket form, from each and every officer and employee handling money, checks, securities or other valuable papers of the bank, such bond to be made by a bonding company authorized to make such bonds in this state to be approved by the board of directors and to be in such form as may be approved by the superintendent. The superintendent or the board of directors of the bank may require an increase of the amount of such bond or other additional bond and securities, when he or they deem it necessary for the better protection of the bank and its depositors. Directors, as such, shall not be required to give bond. (Acts 1980, No. 80-658, §5-6-3.)
AL Code § 5-6A-20 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 6A - Directors, Officers, and Employees.|Article 2 - Prohibited Acts.|Section 5-6A-20 - Declaration of Illegal Dividends, Discounts of Notes, Etc.

Section 5-6A-20Declaration of illegal dividends, discounts of notes, etc. Any director of a bank who knowingly concurs in any vote or act of the directors of such bank by which it is intended to pay a cash dividend except from the undivided profits arising from the business of the bank in violation of Section 5-5A-21, or to make or approve a loan with the stock of the lending bank as security therefor; to divide, withdraw or in any manner pay to the stockholders or any of them any part of the capital of the bank, or to purchase or reduce such capital, except in pursuance of law; or to discount or receive any note or other evidence of debt in payment of any installment of purchase price of capital actually called in and required to be paid, or with intention to provide the means of making such payment; or to receive or discount any note or other evidence of debt with the intent to enable any stockholder to withdraw any part of the money paid in by him on his stock; or to apply any portion of the funds of such corporation except as allowed by law, directly or indirectly, to the purchase of shares of its stock, is guilty of a misdemeanor. (Acts 1980, No. 80-658, §5-6-20.)
AL Code § 5-6A-21 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 6A - Directors, Officers, and Employees.|Article 2 - Prohibited Acts.|Section 5-6A-21 - Concealment of Loans, Purchase or Sale of Security, Etc.

Section 5-6A-21Concealment of loans, purchase or sale of security, etc. Any officer or employee of a bank who intentionally conceals from the directors or a committee of such bank where the directors have delegated authority to a committee to pass on loans and discounts, any discount or loan made for and in behalf of the bank between the regular meetings of its board of directors or committee or the purchase or the sale of any of its securities during the same period is guilty of a misdemeanor. (Acts 1980, No. 80-658, §5-6-21.)
AL Code § 5-6A-22 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 6A - Directors, Officers, and Employees.|Article 2 - Prohibited Acts.|Section 5-6A-22 - Overdrawing Own Account; Receipt of Commissions, etc., to Procure Loans, Discounts, Etc.

Section 5-6A-22Overdrawing own account; receipt of commissions, etc., to procure loans, discounts, etc. Any officer, director, or employee of a bank who willfully and knowingly overdraws his account with such bank and thereby obtains money or funds of any such bank except as the superintendent shall allow by regulation, or asks, receives, consents or agrees to receive any commission, emolument, gratuity, or reward or any promise of any commission, emolument or reward, or any money, property or thing of value or of personal advantage in procuring or endeavoring to procure for any person, firm or corporation any loan from or the purchase or discount of any paper, note, draft, check or bill of exchange by any such bank is guilty of a misdemeanor. (Acts 1980, No. 80-658, §5-6-22.)
AL Code § 5-6A-23 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 6A - Directors, Officers, and Employees.|Article 2 - Prohibited Acts.|Section 5-6A-23 - Receipt or Possession of Bank Property With Intent to Defraud, Etc.

Section 5-6A-23Receipt or possession of bank property with intent to defraud, etc. Any director, officer or employee of a bank who knowingly receives or possesses himself of any of its property otherwise than in payment for a just demand and with intent to defraud shall be guilty of a felony. (Acts 1980, No. 80-658, §5-6-23.)
AL Code § 5-6A-24 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 6A - Directors, Officers, and Employees.|Article 2 - Prohibited Acts.|Section 5-6A-24 - Making of False Entries, etc., on Books and Accounts of Bank.

Section 5-6A-24Making of false entries, etc., on books and accounts of bank. Any director, officer or employee of a bank who with intent to defraud makes or concurs in making any false entry, or with intent to defraud omits or concurs in omitting to make any material entry on its books and accounts, shall be guilty of a felony. (Acts 1980, No. 80-658, §5-6-24.)
AL Code § 5-6A-25 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 6A - Directors, Officers, and Employees.|Article 2 - Prohibited Acts.|Section 5-6A-25 - Fraudulent Representation as to Capital, False Reports, etc., as to Condition of Bank, Etc.

Section 5-6A-25Fraudulent representation as to capital, false reports, etc., as to condition of bank, etc. Any director, officer, or employee of a bank who knowingly, by newspaper advertisement or otherwise, represents its capital to be in excess of the actual capital accounts or knowingly concurs in making or publishing any materially false written report, exhibit, or statement of its financial condition, making any material statement which is false, or refuses or intentionally neglects to make any report or statement required by Chapters 1A through 13B and Chapter 20 of this title is guilty of a felony. (Acts 1980, No. 80-658, §5-6-25; Acts 1995, No. 95-115, p. 134, §73.)
AL Code § 5-6A-26 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 6A - Directors, Officers, and Employees.|Article 2 - Prohibited Acts.|Section 5-6A-26 - Loans or Extension of Credit to Bank Officers and Employees.

Section 5-6A-26Loans or extension of credit to bank officers and employees. An officer or employee of any bank who shall in any way obtain as a borrower any of the funds of such bank without having first complied with the requirements of this section must on conviction be punished as if he had embezzled the amount borrowed. Any loan obtained by an officer or employee of a bank must be made in accordance with a written loan policy which has been adopted by the board of directors. Such loans or extensions of credit may be made only if (i) the bank would be authorized to make such loans or extensions of credit to borrowers other than officers and employees and (ii) such loans or extensions of credit to officers and employees do not involve more than the normal risk of repayment or present other unfavorable features. All such loans, extensions of credit, or lines of credit to an officer must be reported to the board of directors at its next meeting. (Acts 1980, No. 80-658, §5-6-26.)
AL Code § 5-7A-1 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 7A - Bank Merger, Consolidation, or Conversion.|Article 1 - Consolidation, Merger or Transfer of State Banks.|Section 5-7A-1 - Banks May Merge or Consolidate; Transfer of Place of Business.

Section 5-7A-1Banks may merge or consolidate; transfer of place of business. Any bank may consolidate or merge with or transfer its assets and liabilities to another bank and any bank may move its office or place of business from one city or town to another city or town within the state. (Acts 1980, No. 80-658, §5-7-1.)
AL Code § 5-7A-2 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 7A - Bank Merger, Consolidation, or Conversion.|Article 1 - Consolidation, Merger or Transfer of State Banks.|Section 5-7A-2 - Proceedings to Effect Consolidation, Merger or Transfer.

Section 5-7A-2Proceedings to effect consolidation, merger or transfer. Before such consolidation, merger or transfer shall become effective, the following proceedings must be had and done. The board of directors of each bank affected must pass a resolution stating that such consolidation, merger or transfer is desirable and order the officers of the bank to call a meeting of the stockholders to consider the proposition. Upon the passage of such resolution by the directors, the officers shall mail a notice of such meeting to each stockholder at his last known place of residence, postage prepaid, at least 30 days before the date set for the meeting of stockholders, which notice shall specify the date and place of the meeting and the purpose for which the meeting is to be held. A copy of the resolution must also be forwarded to the superintendent for his information, and he shall investigate the advisability of such consolidation, merger or transfer. On the day of the meeting of the stockholders, a resolution may be prepared setting forth the desirability of the consolidation, merger or transfer of the place of business of such bank, which shall set forth the terms, etc., of such consolidation, merger or transfer and such other matters as the stockholders may see proper, not contrary to law. If a majority of the stock is represented at such meeting and vote in the affirmative for such resolution and the superintendent shall approve all of the proceedings and it is his judgment that the same would be for the best interest of the institution or institutions affected, such resolution shall have the force and effect of consolidating or merging such institution with the other institution, provided such action of the other institution is likewise satisfactorily passed by its stockholders. If the proposition to transfer the place of business from one town or city to the other is affirmatively voted for by a majority of all the stock of the institution and the superintendent, after careful investigation, is of the opinion that it is wise to change or transfer the place of business to another town or city, such transfer shall be made. (Acts 1980, No. 80-658, §5-7-2.)
AL Code § 5-7A-3 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 7A - Bank Merger, Consolidation, or Conversion.|Article 1 - Consolidation, Merger or Transfer of State Banks.|Section 5-7A-3 - Certificate of Proceedings to Be Forwarded to Superintendent of Banks.

Section 5-7A-3Certificate of proceedings to be forwarded to Superintendent of Banks. A certificate of all the proceedings, including a copy of the pertinent portion of the minutes of the meeting of the board of directors at which the resolution under Section 5-7A-2 was passed, the notice which was given to each stockholder and a copy of the minutes of the stockholders' meeting, shall be made and certified to by the president and cashier of the institution under the seal thereof and acknowledged before a notary public as deeds are required to be acknowledged by a corporation and forwarded to the superintendent for his certificate of approval. (Acts 1980, No. 80-658, §5-7-3.)
AL Code § 5-7A-4 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 7A - Bank Merger, Consolidation, or Conversion.|Article 1 - Consolidation, Merger or Transfer of State Banks.|Section 5-7A-4 - Issuance of Certificate of Approval by Superintendent.

Section 5-7A-4Issuance of certificate of approval by superintendent. If the superintendent approves the entire proceedings, he shall issue his certificate of approval in writing, in duplicate, one copy being filed in his office and the other forwarded, along with the certificate, to the official or officials where articles of merger or consolidation would be filed under the business corporation laws of this state, for record at the expense of the institution affected. (Acts 1980, No. 80-658, §5-7-4.)
AL Code § 5-7A-5 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 7A - Bank Merger, Consolidation, or Conversion.|Article 1 - Consolidation, Merger or Transfer of State Banks.|Section 5-7A-5 - Examinations; Written Consent of Superintendent to Consolidation.

Section 5-7A-5Examinations; written consent of superintendent to consolidation. Before approving proceedings to consolidate one such institution with another, the superintendent shall cause to be made an examination of each such institution to determine whether the interests of the depositors, creditors and stockholders of each are protected and that such consolidation is made for legitimate purposes, and his consent or rejection of such consolidation or transfer shall be based upon such examination and investigation. The expense of such examination shall be paid by such institution. No such consolidation shall be made without the written consent of the superintendent. (Acts 1980, No. 80-658, §5-7-5.)
AL Code § 5-7A-6 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 7A - Bank Merger, Consolidation, or Conversion.|Article 1 - Consolidation, Merger or Transfer of State Banks.|Section 5-7A-6 - Appeals; Applicability of Article to Branch Banks, Etc.

Section 5-7A-6Appeals; applicability of article to branch banks, etc. If such consent is refused, an appeal may be taken therefrom to the circuit court of the county where such institution is located. This article shall apply to banks having branches and to any branch office thereof in the same way as it applies to other banks. (Acts 1980, No. 80-658, §5-7-6.)
AL Code § 5-7A-20 (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-20 - Conversion of National Bank, etc., Into State Bank - Procedure.

Section 5-7A-20Conversion of national bank, etc., into state bank - Procedure. Any bank organized under the laws of the United States may, by the vote of the stockholders owning not less than a majority of the capital stock of such bank with the approval of the superintendent and upon the payment by it to the superintendent of a fee prescribed by the Banking Board under Section 5-5A-13, be converted into a state bank with any name approved by the superintendent. (Acts 1980, No. 80-658, §5-7-20.)
AL Code § 5-7A-21 (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-21 - Conversion of National Bank, etc., Into State Bank - Execution of Articles of Incorporation and Organization Certificate; Powers of Directors, Etc.

Section 5-7A-21Conversion of national bank, etc., into state bank - Execution of articles of incorporation and organization certificate; powers of directors, etc. In case of such conversion, the articles of incorporation and organization certificates may be executed by a majority of the directors of the bank and the certificate shall declare that the owners of a majority of the capital stock have authorized the directors to make such certificate and to exchange or convert the national bank into a state bank. A majority of the directors, after executing the articles of incorporation and the organization certificate, shall have power to execute all other papers and to do whatever may be required to make its organization perfect and complete as a state bank. The shares of any such bank may continue to be for the same amount each as they were before they were converted, and the directors may continue to be directors of the state bank until others are elected or appointed in accordance with the statutes of Alabama. (Acts 1980, No. 80-658, §5-7-21.)
AL Code § 5-7A-23 (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-23 - Declaration of Incorporation.

Section 5-7A-23Declaration of incorporation. Before the issuing of such certificate by the superintendent a majority of the directors of such bank shall file in the office of the official or officials with which a certificate of incorporation would be filed under the business corporation laws of this state a declaration of incorporation, which shall show: (1) The name to be assumed and used by the corporation; (2) The objects of the corporation, among which shall be the conversion of a national bank with the name and description of the same, into a state bank with all the power and authority that may be exercised by a state bank; (3) The location of its principal office; (4) The amount of its total authorized capital and the amount of its paid-in capital; (5) The name and post-office address of each officer and director; (6) The time limit, if any, for the duration of the corporation; and (7) A certificate, acknowledged before a notary public by a majority of the directors of the national bank so converted, that there has been transferred by the national bank, by a vote of the stockholders owning not less than a majority of the capital stock of such national bank, to such state bank into which it is converted, all the property and assets of said national bank. (Acts 1980, No. 80-658, §5-7-23.)