reglab/housing_qa huggingface dataset:
AL Code § 5-13B-40 (2021)
2021 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 1 - General.|Section 5-13B-40 - Purpose.

Section 5-13B-40Purpose. (a) This article is intended generally to provide for state regulation of the participation by foreign banks in the financial markets of this state. (b) Consistent with the federal International Banking Act, the Bank Holding Company Act, the Federal Deposit Insurance Act, and the Interstate Banking and Branching Efficiency Act, this article is intended specifically: (1) To authorize banking activities and operations, under state licenses issued by the superintendent, of direct branch and agency offices in this state of foreign banks, generally under terms and conditions not less favorable than the terms and conditions under which such activities and operations may be conducted by federal branch or agency offices of foreign banks in the United States, and to set forth a statutory framework for the licensing, regulation and supervision of such state-licensed offices of foreign banks by the superintendent to assure the safe and sound operation of such offices that are licensed under the laws of this state; (2) To authorize representative offices in this state of foreign banks, and to set forth statutory provisions governing the licensing and supervision of such offices by the superintendent; and (3) To ensure that the banking laws and regulations of this state otherwise apply to foreign banks, and to Alabama and out-of-state banks and bank holding companies that are owned or controlled by foreign banks, in a manner consistent with the laws and policies of the United States governing the operations in this country of foreign banks. (Acts 1995, No. 95-115, p. 134, §22.)
AL Code § 5-13B-42 (2021)
2021 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 1 - General.|Section 5-13B-42 - General Regulation Authority.

Section 5-13B-42General regulation authority. The superintendent, with the concurrence of a majority of the members of the State Banking Board, is authorized and empowered to issue such rules, regulations, and orders as the superintendent may deem necessary in order to perform his or her duties and functions under this article and to administer and carry out the provisions and purposes of this article and to prevent evasions thereof. (Acts 1995, No. 95-115, p. 134, §24.)
AL Code § 5-13B-60 (2021)
2021 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 2 - Domestic Banks Owned or Controlled by Foreign Banks and Other Foreign Persons.|Section 5-13B-60 - Purpose.

Section 5-13B-60Purpose. This division is generally intended to ensure that the laws and regulations of this state applicable to the ownership and operations of Alabama banks, and interstate branches in this state of out-of-state banks, do not discriminate against such banks that are owned or controlled by foreign banks or other foreign persons in a manner inconsistent with the provisions of Section 3(d) of the Bank Holding Company Act (12 U.S.C. §1842(d)), as amended effective September 29, 1995, by Section 101 of the Interstate Banking and Branching Efficiency Act, or with other laws and policies of the United States. (Acts 1995, No. 95-115, p. 134, §25.)
AL Code § 5-13B-61 (2021)
2021 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 2 - Domestic Banks Owned or Controlled by Foreign Banks and Other Foreign Persons.|Section 5-13B-61 - Operations in This State of Banks Owned or Controlled by Foreign Banks and Other Foreign Persons.

Section 5-13B-61Operations in this state of banks owned or controlled by foreign banks and other foreign persons. (a) Except as provided in subsection (b): (1) The laws and regulations of this state governing the acquisition or ownership of controlling or other interests in Alabama banks or in out-of-state banks seeking to establish and maintain one or more interstate branches in this state shall not generally prohibit ownership of such institutions by, or otherwise discriminate against, foreign banks or other foreign persons, notwithstanding any provision of the laws or regulations of this state to the contrary; (2) The laws and regulations of this state governing the powers and activities of Alabama banks and of out-of-state banks maintaining one or more interstate branches in this state shall not discriminate among such banks on the basis of their ownership or control by foreign banks or other foreign persons, notwithstanding any provision of the laws or regulations of this state to the contrary. (b) Notwithstanding the provisions of subsection (a), the superintendent is authorized to apply any standards or requirements of the laws and regulations of this state governing the ownership, control, or operations of Alabama banks, even if applicable specifically or exclusively to foreign banks or other foreign persons, to the extent such standards or requirements are determined by regulation or order of the superintendent to be either: (1) Substantially equivalent to or consistent with the standards or requirements governing the ownership, control, or operations of Alabama banks by foreign banks or other foreign persons under applicable U.S. federal laws or regulations, or (2) Otherwise consistent with the laws and policies of the United States, including its international agreements governing financial services. (Acts 1995, No. 95-115, p. 134, §26.)
AL Code § 5-13B-62 (2021)
2021 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 2 - Domestic Banks Owned or Controlled by Foreign Banks and Other Foreign Persons.|Section 5-13B-62 - Citizenship and Residency Requirements for Directors of State Banks.

Section 5-13B-62Citizenship and residency requirements for directors of state banks. Notwithstanding any other provision of the laws and regulations of this state, the citizenship and residency requirements otherwise applicable to members of the board of directors of any Alabama bank may, in the case of an Alabama bank which is a subsidiary or affiliate of a foreign bank, be waived by the superintendent in his or her discretion upon application by the controlling shareholder of the Alabama bank; provided that at least a majority of the directors shall be citizens of the United States and at least 25 percent of the directors shall be residents of this state. (Acts 1995, No. 95-115, p. 134, §27.)
AL Code § 5-13B-80 (2021)
2021 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-80 - Purpose.

Section 5-13B-80Purpose. Consistent with the federal International Banking Act, the Bank Holding Company Act, the Federal Deposit Insurance Act, and the Interstate Banking and Branching Efficiency Act, this division is intended: (1) To authorize banking activities and operations, under state licenses issued by the superintendent, of direct branch and agency offices in this state of foreign banks, generally under terms and conditions not less favorable than the terms and conditions under which such activities and operations may be conducted by federal branch or agency offices of foreign banks in the United States, and to set forth a statutory framework for the licensing, regulation, and supervision of such state-licensed offices of foreign banks by the superintendent to assure the safe and sound operation of such offices that are licensed under the laws of this state; and (2) To authorize representative offices in this state of foreign banks, and to set forth statutory provisions governing the licensing and supervision of such offices by the superintendent. (Acts 1995, No. 95-115, p. 134, §28.)
AL Code § 5-13B-81 (2021)
2021 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-81Branches and agencies of foreign banks - Necessity of licensure. (a) No foreign bank shall transact business in this state except at an Alabama state branch or Alabama state agency which it is licensed to establish and maintain pursuant to, and at which it conducts such activities as are permitted by, this article. (b) Subsection (a) shall not be deemed to prohibit: (1) Any foreign bank which maintains a federal agency or federal branch in this state from transacting at such federal agency or federal branch such business as it may be authorized to transact under applicable federal laws and regulations; or (2) Any foreign bank which does not maintain an Alabama state branch or Alabama state agency from making in this state loans secured by liens on real property located in this state; or (3) Any foreign bank which maintains an Alabama branch or agency from transacting business as agent for an affiliated depository or other institution in accordance with provisions of this article; or (4) Any foreign bank organized under the laws of a territory of the United States, Puerto Rico, Guam, American Samoa, or the Virgin Islands, the deposits of which are insured by the Federal Deposit Insurance Corporation, from establishing and operating an interstate branch in this state in its capacity as a "state bank" as defined in the Federal Deposit Insurance Act, pursuant to the authorities contained in that act and in the laws of this state. (c) For purposes of subsection (a), no foreign bank shall be deemed to be transacting business in this state merely because a subsidiary or affiliate transacts business in this state. (Acts 1995, No. 95-115, p. 134, §29.)
AL Code § 5-13B-82 (2021)
2021 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-82 - Application to Establish and Maintain a Branch or Agency - Contents.

Section 5-13B-82Application to establish and maintain a branch or agency - Contents. (a) A foreign bank, in order to procure a license under this article to establish and maintain an Alabama state branch or Alabama state agency shall submit an application to the superintendent. Such application shall contain: (1) The same information as required by the Board of Governors of the Federal Reserve System for an application to establish a branch or agency, as the case may be, in the United States; and (2) Such additional information as the superintendent may require by regulation or order. (b) In addition to the information required to be included in an application for a license to establish and maintain an Alabama state branch or Alabama state agency listed in subsection (a), the superintendent may as he or she deems necessary or appropriate require a foreign bank to include as part of such an application an instrument irrevocably appointing the superintendent and his or her successors in office to be such foreign bank's agent, representative, and attorney to receive service of any lawful process in any proceeding against the foreign bank or any of its successors which arises out of the foreign bank's activities in this state after such appointment has been filed, with the same force and validity as if served on the foreign bank or its successor, as the case may be. Such appointment shall be in such form and contain such information as the superintendent may require by regulation or order. (Acts 1995, No. 95-115, p. 134, §30.)
AL Code § 5-13B-83 (2021)
2021 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-83 - Application to Establish and Maintain a Branch or Agency - Manner of Filing and Determination.

Section 5-13B-83Application to establish and maintain a branch or agency - Manner of filing and determination. (a) A foreign bank making an application under this article for a license to establish and maintain an Alabama state branch or Alabama state agency shall deliver to the superintendent: (1) At least two, or more as the superintendent may require by regulation, duplicate originals of the foreign bank's application; and (2) At least two, or more as the superintendent may require by regulation, copies of its charter or articles of incorporation and all amendments thereto, duly authenticated by the proper officer of the country of such foreign bank's organization. (b) The superintendent shall issue a license to a foreign bank to establish and maintain an Alabama state branch or Alabama state agency if he or she finds that: (1) The foreign bank is of good character and sound financial standing; (2) The management of the foreign bank and the proposed management of the Alabama state branch or Alabama state agency are adequate; (3) The convenience and needs of persons to be served by the proposed Alabama state branch or Alabama state agency will be promoted; and (4) The foreign bank satisfies such other standards as the superintendent may establish by regulation. (c) If the superintendent determines to issue a license to a foreign bank to establish and maintain an Alabama state branch or Alabama state agency, he or she shall, when all fees have been paid as required under this article: (1) Endorse on each document filed as part of the application the word "Filed," and the date of the filing thereof and return to the foreign bank a copy of each document so endorsed; (2) File in his or her office one of such duplicate originals of the application and copies of the charter or articles of incorporation and amendments thereto; and (3) Issue a license to establish and maintain an Alabama state branch or Alabama state agency to such foreign bank. (d) Each license issued to a foreign bank to establish and maintain an Alabama state branch or Alabama state agency shall state fully the name of the foreign bank to which such license is issued and all such other information as the superintendent may require by regulation or order. (e) The superintendent may, by regulation or order, prescribe abbreviated application procedures and standards applicable to applications by foreign banks that have already established an initial Alabama state branch or agency, subsequently to establish additional intrastate Alabama state branches or agencies, as the case may be. (Acts 1995, No. 95-115, p. 134, §31.)
AL Code § 5-13B-84 (2021)
2021 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-84 - Application Fee.

Section 5-13B-84Application fee. Upon applying to the superintendent under this article for a license to establish and maintain an Alabama state branch or Alabama state agency, a foreign bank shall pay to the superintendent an application fee in such amount and in such manner as the superintendent shall require by regulation. (Acts 1995, No. 95-115, p. 134, §32.)
AL Code § 5-13B-85 (2021)
2021 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-85 - No Concurrent Maintenance of Federal Branches or Agencies.

Section 5-13B-85No concurrent maintenance of federal branches or agencies. (a) No foreign bank which is licensed under this article to establish and maintain an Alabama state branch or Alabama state agency shall concurrently maintain a federal branch or federal agency in this state. (b) No foreign bank which maintains a federal branch or federal agency in this state shall concurrently be licensed under this article to maintain an Alabama state branch or Alabama state agency. (Acts 1995, No. 95-115, p. 134, §33.)
AL Code § 5-13B-87 (2021)
2021 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-87 - Fiduciary Activities.

Section 5-13B-87Fiduciary activities. (a) No foreign bank which is licensed to establish and maintain an Alabama state branch or Alabama state agency shall engage in fiduciary activities at such office unless such foreign bank shall have first obtained a certificate of authority from the superintendent to engage in fiduciary activities at such office. (b) An application to obtain a certificate of authority to engage in fiduciary activities shall be in such form and contain such information, and be accompanied by such reasonable fee, as the superintendent may require by regulation. The superintendent shall issue a certificate of authority to engage in fiduciary activities to a foreign bank making an application under this section if he or she finds that such foreign bank will exercise fiduciary powers in accordance with the laws and regulations of this state. (c) A foreign bank which holds a certificate of authority issued under this section may engage at its Alabama state branch or Alabama state agency in fiduciary activities to the same extent and in the same manner as if such foreign bank were an Alabama state bank. (d) A foreign bank which holds a certificate of authority issued under this section shall file all such reports, pay all such reasonable fees, and be subject to examination and supervision as the superintendent may determine by regulation. (e) The superintendent may suspend or revoke a certificate to engage in fiduciary activities issued under this section if he or she finds: (1) That conditions exist which would authorize the superintendent under this article to revoke or suspend such foreign bank's license to establish and maintain an Alabama state branch or Alabama state agency; or (2) Any fact or condition exists which, if it had existed at the time of the foreign bank's original application to obtain a certificate of authority to engage in fiduciary activities, would have resulted in the superintendent's refusal to issue such certificate of authority to the foreign bank. (Acts 1995, No. 95-115, p. 134, §35.)
AL Code § 5-13B-88 (2021)
2021 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-88 - Authority to Act as Agent.

Section 5-13B-88Authority to act as agent. (a) An Alabama state branch or Alabama state agency of a foreign bank licensed under this article may receive deposits, renew time deposits, close loans, service loans, and receive payments on loans and other obligations as an agent for any depository institution affiliate of such foreign bank, including branch, agency, and other offices of the same foreign bank located in other states, generally in accordance with the same terms, conditions, procedures, and requirements that are applicable under the laws and regulations of this state to such agency activities that may be conducted by Alabama state banks. (b) Notwithstanding any other provision of the laws or regulations of this state, an Alabama state branch or Alabama state agency of a foreign bank acting in this state as an agent in accordance with the provisions of this section shall not be considered to be a branch of such other depository institution affiliate; provided, however, that no Alabama state branch or Alabama agency shall be authorized by this section to act as agent for a branch or agency of an affiliated foreign bank other than the foreign bank which has been licensed to transact business in this state pursuant to this article. (c) An Alabama state branch or Alabama state agency of a foreign bank licensed under this article may not: (1) Conduct any activity as an agent under this section which such office is prohibited from conducting as a principal under any applicable federal or state law, including, but not limited to, the acceptance of impermissible deposits; or (2) As a principal, have an agent conduct any activity under this section which such office is prohibited from conducting under any applicable federal or state law, including, but not limited to, the acceptance of impermissible deposits. (d) An agency relationship between an Alabama state branch or Alabama state agency of a foreign bank licensed under this article and a depository institution affiliate of such foreign bank shall in any event be on terms that are consistent with safe and sound banking practices and all applicable regulations and orders of the superintendent. (Acts 1995, No. 95-115, p. 134, §36.)
AL Code § 5-13B-89 (2021)
2021 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-89 - Representative Office of Foreign Banks - Necessity of Licensure.

Section 5-13B-89Representative office of foreign banks - Necessity of licensure. (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. (Acts 1995, No. 95-115, p. 134, §37.)