reglab/housing_qa huggingface dataset:
AL Code § 5-5A-13 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 5A - Organization and Operation of Banks.|Section 5-5A-13 - Filing Fee; Other Fees.

Section 5-5A-13Filing fee; other fees. (a) The Banking Board shall from time to time fix the amount of the fee for filing an application for a new bank, and for: (1) Establishment of a branch of an existing bank; (2) Conversion of a national bank to a state bank; (3) A merger of two or more existing banks; (4) Establishment and operation of any facility authorized under the provisions of Sections 5-2A-7 and 5-2A-8; (5) Acquisition of a majority of voting stock of a bank; (6) Any examination necessitated by the foregoing; and (7) Other actions that require the approval of the superintendent or the Banking Board. (b) All such fees shall be paid into the special fund set up by the State Treasurer pursuant to Section 5-2A-20. (Acts 1980, No. 80-658, §5-5-13.)
AL Code § 5-5A-14 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 5A - Organization and Operation of Banks.|Section 5-5A-14 - Capital - Minimum Amount Required for Incorporation of Bank.

Section 5-5A-14Capital - Minimum amount required for incorporation of bank. (a) No bank hereafter organized under the laws of Alabama shall have total initial capital accounts actually paid in of less than $800,000.00. (b) The superintendent may require a higher amount of capital accounts and where the bank will have no significance except as a means of acquiring the assets or the voting shares of an existing bank, the superintendent may require a lesser amount of capital accounts. (Acts 1980, No. 80-658, §5-5-14.)
AL Code § 5-5A-15 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 5A - Organization and Operation of Banks.|Section 5-5A-15 - Capital - Increase or Decrease.

Section 5-5A-15Capital - Increase or decrease. Any bank shall with the consent of the superintendent have power and authority to increase or decrease its authorized capital in the manner provided for a corporation under the business corporation laws of this state. (Acts 1980, No. 80-658, §5-5-15.)
AL Code § 5-5A-16 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 5A - Organization and Operation of Banks.|Section 5-5A-16 - Issuance of Capital Notes and Debentures.

Section 5-5A-16Issuance of capital notes and debentures. No bank shall issue capital notes or capital debentures except with the prior written approval of the superintendent under such conditions as he may impose. (Acts 1980, No. 80-658, §5-5-16.)
AL Code § 5-5A-17 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 5A - Organization and Operation of Banks.|Section 5-5A-17 - Amendment of Certificate of Incorporation; Approval of Amended Certificate of Incorporation.

Section 5-5A-17Amendment of certificate of incorporation; approval of amended certificate of incorporation. A bank may amend its certificate of incorporation in the manner provided by the laws governing business corporations. No proposed amendment of a certificate of incorporation of a bank is valid unless approved in writing by the superintendent and may not be recorded unless such written approval accompanies the proposed amendment. (Acts 1980, No. 80-658, §5-5-17.)
AL Code § 5-5A-18 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 5A - Organization and Operation of Banks.|Section 5-5A-18 - Powers of Banks Generally.

Section 5-5A-18Powers of banks generally. Corporations formed for the purpose of doing business as a bank may: (1) Discount bills, notes or other evidences of debt; (2) Receive and pay out deposits, with or without interest, pay checks, and impose charges for any services; (3) Receive on special deposit money, bullion or foreign coins or bonds or other securities; (4) Buy and sell foreign and domestic exchanges, gold and silver bullion or foreign coins, bonds, bills of exchange, notes and other negotiable paper; (5) Lend money on personal security or upon pledges of bonds, stocks or other negotiable securities; (6) Take and receive security by mortgage, security agreement or otherwise on property, real and personal; (7) Become trustees for any purpose and be appointed and act as executors, administrators, guardians, receivers, or fiduciaries upon receiving the prior written approval of the superintendent under Section 5-11A-1; (8) Lease real and personal property upon specific request of a customer, provided such banks must comply with any applicable Alabama laws regulating leasing real property or improvements thereon to others; (9) Perform computer, management, and travel agency services for others; (10) Subscribe to the capital stock and become a member of the Federal Reserve System and comply with rules and regulations thereof; (11) Accept deposits and payments on loans and other obligations as agent for other banks located in this state that are subsidiaries of the same bank holding company. If banks located in this state are affiliates, they may accept deposits and payments on loans and other obligations as agent for each other. Banks acting as agents for other banks under this subsection shall not be deemed branch offices of the banks for which they act. As used in this subsection, banks are "affiliates" if the same person or persons directly or indirectly own or control either a majority of the voting shares or more than 50 percent of the number of shares entitled to elect the directors of both banks; and (12) Do any business and exercise any powers incident to the business of banks. (Acts 1980, No. 80-658, §5-5-18; Acts 1990, No. 90-217, p. 253.)
AL Code § 5-5A-19 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 5A - Organization and Operation of Banks.|Section 5-5A-19 - Reserves.

Section 5-5A-19Reserves. (a) A bank which is not a member of the Federal Reserve System shall maintain at all times a reserve fund in an amount fixed by resolution of the Banking Board. The amount of the required reserve for each day shall be computed on the basis of average daily deposits covering such biweekly or shorter periods as shall be fixed by resolution of the Banking Board. This reserve shall consist of cash on hand and demand deposits due from other banks. (b) A bank shall give written notice to the superintendent, in the manner prescribed by the superintendent for such notice, of any deficiency in the amount or form of the reserve fund required by this section within three business days after the close of any scheduled averaging period during which deficiency occurs. Such bank shall pay to the superintendent a fee because of this deficiency which shall be fixed by the Banking Board. All such fees shall be paid into the special fund set up by the State Treasurer pursuant to Section 5-2A-20. (c) A bank which is a member of the Federal Reserve System shall maintain at all times a reserve fund in accordance with the requirements applicable to a member bank under the laws of the United States. (Acts 1980, No. 80-658, p. 1259, §5-5-19; Acts 1981, No. 81-687, p. 1158.)
AL Code § 5-5A-20 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 5A - Organization and Operation of Banks.|Section 5-5A-20 - Branch Banks; Commercial Affiliates.

Section 5-5A-20Branch banks; commercial affiliates. (a) Alabama banks may establish a branch or office for the transaction of the banking business within the State of Alabama upon prior approval of the superintendent. Alabama banks may establish a branch or office for the transaction of a banking business in any state other than Alabama, any territory of the United States, or in any foreign country in accordance with the provisions of federal law, the laws of the other state, territory, or foreign country and upon the prior approval of the superintendent. (b) All laws or parts of laws, whether general, local, or general laws of local applications, which conflict with this section are hereby repealed to the extent of such conflict. (c) Neither an Alabama bank nor an out-of-state bank may establish or maintain a branch or office for the transaction of the banking business in Alabama on the premises of a commercial affiliate of the bank. For purposes of this section, commercial affiliate is an affiliate of the bank as set forth in subsection (k) of Section 2 of the Bank Holding Company Act which engages in commerce. An entity engages in commerce when 15 percent or more of its revenue is derived from activities other than those in which a bank holding company, or its subsidiaries, may engage. Premises of the commercial affiliate are any physical locations where the commercial affiliate directly or indirectly maintains ownership or conducts business. (Acts 1980, No. 80-658, p. 1259, §5-5-20; Acts 1983, 1st Ex. Sess., No. 83-73, p. 76; Acts 1985, No. 85-364, p. 307; Acts 1995, No. 95-115, p. 134, §72; Act 2007-224, p. 284, §1.)
AL Code § 5-5A-21 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 5A - Organization and Operation of Banks.|Section 5-5A-21 - Surplus; Restriction on Dividends.

Section 5-5A-21Surplus; restriction on dividends. Every bank shall transfer to surplus each year at least 10 percent of its net earnings until the surplus of such bank shall be equal to at least 20 percent of its capital, and it shall be unlawful for such bank to declare or pay a dividend in excess of 90 percent of the net earnings of such bank until the surplus of such bank shall be equal to at least 20 percent of capital. Thereafter the prior written approval of the superintendent shall be required if the total of all dividends declared by the bank in any calendar year shall exceed the total of its net earnings of that year combined with its retained net earnings of the preceding two years, less any required transfers to surplus. No dividends, withdrawals or transfers may be made from the bank's surplus without the prior written approval of the superintendent. For the purpose of this section the term "net earnings" shall mean the remainder of all earnings from current operations plus actual recoveries on loans and investments and other assets, after deducting from the total thereof all current operating expenses, actual losses, accrued dividends on preferred stock, if any, and all federal, state and local taxes. (Acts 1980, No. 80-658, §5-5-21.)
AL Code § 5-5A-23 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 5A - Organization and Operation of Banks.|Section 5-5A-23 - Investments and Loans With Respect to Housing.

Section 5-5A-23Investments and loans with respect to housing. (a) Banks, insurance companies and savings and loan associations are authorized: (1) To make such loans and advances of credit and purchases of obligations representing loans and advances of credit as are eligible for insurance and to obtain such insurance; and (2) To make such loans secured by real property or leasehold as the Federal Housing Administrator insures or makes a commitment to insure and to obtain such insurance. (b) It shall be lawful for banks, insurance companies or savings and loan associations to purchase, invest in and dispose of bonds or notes secured by mortgages issued by the Federal Housing Administrator and in securities issued by national mortgage associations. (c) No law of this state requiring security upon which loans or investments may be made, or prescribing or limiting interest rates upon loans or investments, or prescribing or limiting the period for which loans or investments may be made shall be deemed to apply to loans or investments made pursuant to the foregoing paragraph. (d) Any bank or trust company purchasing, investing in or otherwise holding in any fiduciary capacity for the benefit of any ward or other beneficiary any mortgage loan insured by the Federal Housing Administrator shall be entitled to receive and retain for its own individual or corporate account any service charge allowed by said administrator on account of the servicing of the insured mortgage loan. Such service charge shall be considered as a reimbursement to such fiduciary for the additional expense of handling for the mortgagor and the Federal Housing Administrator monthly collections on such mortgage loan and payments of taxes, insurance and other charges on the property securing such loan as such administrator and regulations may require. (e) Wherever, by statute of this state, collateral is required as security for the deposit of public or other funds, or deposits are required to be made with any public official or department, or an investment of capital or surplus or a reserve or other fund is required to be maintained, consisting of designated securities, notes and bonds insured by the Federal Housing Administrator and debentures issued by the Federal Housing Administrator and obligations of national mortgage associations shall be acceptable at face value for such purposes. (Acts 1980, No. 80-658, §5-5-23.)
AL Code § 5-5A-25 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 5A - Organization and Operation of Banks.|Section 5-5A-25 - Acceptance of Drafts or Bills of Exchange Arising From Transactions Involving Shipment of Goods - Authority.

Section 5-5A-25Acceptance of drafts or bills of exchange arising from transactions involving shipment of goods - Authority. Any bank in Alabama may accept drafts or bills of exchange drawn upon it, having not more than six months' sight to run, exclusive of days of grace, which grew out of transactions involving the importation or exportation of goods or which grew out of transactions involving the domestic shipment of goods, if shipping documents conveying or securing title are attached at the time of acceptance or which are secured at the time of acceptance by a warehouse receipt or other such document conveying or securing title covering readily marketable staples. The bank shall keep a careful record of all such acceptances and show the same as a liability on its general books. (Acts 1980, No. 80-658, §5-5-25.)
AL Code § 5-5A-26 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 5A - Organization and Operation of Banks.|Section 5-5A-26 - Acceptance of Drafts or Bills of Exchange Arising From Transactions Involving Shipment of Goods - Limitations.

Section 5-5A-26Acceptance of drafts or bills of exchange arising from transactions involving shipment of goods - Limitations. No bank shall accept, whether in a foreign or domestic transaction, for any one person, company, firm or corporation, to an amount equal at any time in the aggregate to more than 10 percent of its paid up and unimpaired capital and surplus, unless the bank is secured either by attached documents or by some other actual security growing out of the same transaction as the acceptance, and no bank shall accept such bills to an amount equal at any time in the aggregate to more than one half of its paid up and unimpaired capital stock and surplus. Banks which are members of the Federal Reserve System may accept such bills to an amount not exceeding at any time in the aggregate 100 percent of their paid up and unimpaired capital and surplus, but the aggregate of acceptances growing out of domestic transactions shall in no event exceed 50 percent of such capital and surplus. (Acts 1980, No. 80-658, §5-5-26.)
AL Code § 5-5A-27 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 5A - Organization and Operation of Banks.|Section 5-5A-27 - Loans Secured by Own Stock; Purchase of Own Stock; Ownership of Capital Stock of Other Banks.

Section 5-5A-27Loans 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 as security therefor or directly or indirectly purchase shares of its own stock, except in pursuance of provisions of law for reducing its capital stock. No bank shall subscribe for or own capital stock in any other bank except in the usual course of business in payment of an indebtedness or in order to prevent a loss on a debt owing to it and the bank must sell said stock within one year from the time the same is acquired unless this time period is extended by the superintendent; provided, however, that nothing in this section shall prohibit the ownership by any bank of any stock in another bank acquired prior to May 28, 1980. (Acts 1980, No. 80-658, §5-5-27.)
AL Code § 5-5A-28 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 5A - Organization and Operation of Banks.|Section 5-5A-28 - Pledge of Assets.

Section 5-5A-28Pledge of assets.  No bank may pledge assets as security for deposits, except any bank is authorized to pledge acceptable assets as security for deposits of trust funds deposited by its trust department and of public funds, heretofore or hereafter deposited, by the United States or any agency or governmental instrumentality of the United States or by a state or any political subdivision of a state or any agency or other governmental instrumentality of such subdivision, including any county, municipal corporation, county, city, or other public board of education, including any custodian or treasurer of county, city, or other public school funds, any improvement authority heretofore or hereafter incorporated or any public corporation, including each board, authority, or district heretofore or hereafter organized or created in a state pursuant to authorization or determination by any municipality or municipalities or by any county or counties or the governing body of any one or more thereof. For purposes of this section, banks may only pledge assets to secure deposits of Alabama public entities that are defined as covered public entities or covered public officials under Section 41-14A-2. The word "deposits," as used in this section, means deposits of all kinds, including, without limiting the generality of the foregoing, deposits in savings accounts, deposits in checking accounts, deposits in special trust funds, demand deposits, special deposits, time deposits on which interest is to be paid, and deposits for which a bank has issued its certificates of deposit. (Acts 1980, No. 80-658, p. 1259, §5-5-28; Acts 1988, No. 88-260, p. 401; Act 2007-224, p. 284, §1.)
AL Code § 5-5A-29 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 5A - Organization and Operation of Banks.|Section 5-5A-29 - Security Not Required When Deposits Insured.

Section 5-5A-29Security not required when deposits insured. Notwithstanding any provision of law of this state or of any political subdivision of the state or any agency or governmental instrumentality of such subdivision requiring security for deposits in the form of collateral, surety bond or in any other form, security for such deposits shall not be required to the extent said deposits are insured by the Federal Deposit Insurance Corporation or any successor thereto. (Acts 1980, No. 80-658, §5-5-29.)
AL Code § 5-5A-30 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 5A - Organization and Operation of Banks.|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.

Section 5-5A-30Transactions 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 sight drafts and transact any other business on any legal holiday, excepting Sunday, in the same manner and way that it is authorized to do on any legal banking day. (b) Nothing in this section, nor any other law of this state, shall be construed to prohibit a bank the use of an automated teller machine, or other instrumentality as authorized by Section 5-2A-7 and Section 5-2A-8, 24 hours each day of the week including Sunday, and the use of the machine or other instrumentality by any bank is hereby authorized, provided the machine or other instrumentality and the use thereof is first approved by the appropriate bank regulatory authority, if the approval is required. A bank owning or operating a machine or other instrumentality may charge a transaction fee to the person using the machine or other instrumentality. The transaction fee shall be disclosed: (i) on a sign posted on the machine or other instrumentality or at a location in view of a person while viewing the machine or other instrumentality; or (ii) electronically during the course of the transaction in a manner that permits a person to cancel the transaction without incurring the transaction fee. (c) No contract with a bank organized under the laws of this state or a national bank located in this state permitting the use of any automated teller machine or other instrumentality owned or operated by a bank by customers of any other financial institution shall prohibit, limit, or restrict the right of the bank to charge any fees not prohibited to the bank by law or require a bank to limit or waive its rights under this chapter. (d) The amendments to subsection (b) made by Acts 1994, No. 94-104 shall be cumulative with, declare, and clarify existing law. The transaction fee shall be in addition to any fees and charges to which a bank and its customer may agree from time to time with regard to the use of any automated teller machine or other instrumentality. (e) Subsection (c) shall apply to all contracts permitting the use of automated teller machines or other instrumentalities by customers of another financial institution irrespective of whether the contract was entered into before or after February 18, 1994. (Acts 1980, No. 80-658, p. 1259, §5-5-30; Acts 1994, No. 94-104, p. 114, §1.)
AL Code § 5-5A-31 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 5A - Organization and Operation of Banks.|Section 5-5A-31 - Liability for Transactions on Legal Holidays.

Section 5-5A-31Liability for transactions on legal holidays. A bank shall be liable for and chargeable with deposits received and other business transacted on a legal holiday the same as if such deposit were received or business transacted on a legal banking day and shall have the same protection for payment of checks or sight drafts and business on a holiday that it would have if such payments were made and such transactions had on a legal banking day. (Acts 1980, No. 80-658, §5-5-31.)
AL Code § 5-5A-32 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 5A - Organization and Operation of Banks.|Section 5-5A-32 - Closing of Banks, etc., Permitted on One Business Day of Each Week.

Section 5-5A-32Closing of banks, etc., permitted on one business day of each week. (a) Any bank or any branch or branches thereof may close on any one business day of each week and shall have this right even though there shall fall in such week a holiday as established in Section 1-3-8. If the superintendent should determine that an emergency should exist, he may authorize any bank or any branch or branches thereof to close on one or more business days. (b) Any such day upon which such bank or any branch or branches thereof may elect to close shall with respect to such institution be deemed a holiday for all purposes and not a business day. All acts omitted or done by such bank or any branch or branches thereof upon any such day shall have the same consequence and effect as if omitted or done upon the next succeeding business day, and any act authorized, required or permitted to be performed at or with respect to any such bank or any branch or branches thereof on the days so fixed may be performed on the next succeeding business day, and no liability or loss of rights of any kind shall result from such delay to any person or to any bank, or any branch or branches thereof. (Acts 1980, No. 80-658, §5-5-32.)