reglab/housing_qa huggingface dataset:
AL Code § 5-1A-3 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 1A - General Provisions.|Section 5-1A-3 - Use of Words "Bank," "Banker," "Banking," etc., Restricted.

Section 5-1A-3Use of words "bank," "banker," "banking," etc., restricted. The use of the words "bank," "banker," "banking," or words of similar meaning in any foreign language as a designation or name, or as part of a designation or name, under which business is or may be conducted in the State of Alabama, or in its advertising is restricted to banking corporations organized under the laws of Alabama, other states, the United States, or foreign countries. All other persons, firms, partnerships, limited liability companies, corporations, and other entities are prohibited from using the words "bank," "banker," or "banking" or words of similar meaning in any foreign language in advertising or as a designation or name or as part of a designation or name under which business may be conducted in this state unless the superintendent determines that the use of the word by the entity is unlikely to mislead or confuse the public or give the impression that such entity is lawfully organized and operating as a bank and authorizes the use of the word. Any violation of this prohibition shall subject the party chargeable therewith to a penalty of five hundred dollars ($500) for each day, with a maximum amount of fifty thousand dollars ($50,000), during which such violation is committed or repeated. Such penalty may be recovered by the superintendent by an action instituted for that purpose, and, in addition to the penalty, such violation may be enjoined and the injunction enforced as in other cases. If the directors, officers, or those persons performing similar functions as corporate directors or officers of any entity shall knowingly and willfully violate or knowingly and willfully permit any of the officers, agents, employees, or those persons performing similar functions of the entity to violate any of the provisions of this section, each and every such director, officer, or other person engaging in such knowing and willful violation or knowing and willful permission shall be liable in his or her personal and individual capacity for all damages which the entity or any other person shall have sustained in consequence of such violation. This section shall not be applicable to entities regularly engaged in business in this state which on and since July 12, 1949, have lawfully and continuously used such words in their trade or firm name.  (Acts 1980, No. 80-658, §5-1-3; Act 2007-224, p. 284, §1.)
AL Code § 5-1A-4 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 1A - General Provisions.|Section 5-1A-4 - Restrictions on Engaging in Banking Business.

Section 5-1A-4Restrictions on engaging in banking business. No person, firm, corporation or other entity except a bank or if otherwise lawfully authorized a credit union or a savings and loan association may lend money and either receive deposits or pay checks at its principal office or branch in this state. (Acts 1980, No. 80-658, §5-1-4.)
AL Code § 5-1A-5 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 1A - General Provisions.|Section 5-1A-5 - Supervisory Provisions Not Applicable to National Banks.

Section 5-1A-5Supervisory provisions not applicable to national banks. The supervisory provisions of Chapters 1A through 12A of this title shall not apply to national banks. (Acts 1980, No. 80-658, §5-1-5.)
AL Code § 5-1A-6 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 1A - General Provisions.|Section 5-1A-6 - Inconsistent Provisions in Other Laws Superseded.

Section 5-1A-6Inconsistent provisions in other laws superseded. Insofar as the provisions of Chapters 1A through 13B and Chapter 20 of this title are inconsistent with the provisions of any other law, general or special, the provisions of Chapters 1A through 13B and Chapter 20 of this title shall be controlling. (Acts 1980, No. 80-658, §5-13-1; Acts 1995, No. 95-115, p. 134, §67.)
AL Code § 5-1A-7 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 1A - General Provisions.|Section 5-1A-7 - Activities of Savings and Loan Associations and Credit Unions Not Restricted.

Section 5-1A-7Activities of savings and loan associations and credit unions not restricted. Chapters 1A through 12A of this title are not intended to limit or restrict activities of savings and loan associations or credit unions now or hereafter lawfully authorized. Specifically, nothing contained herein shall be construed so as to alter, amend or repeal any of the provisions of Sections 5-2A-60 through 5-2A-63, 5-2A-100 through 5-2A-125, 5-16-1 through 5-16-53 and 5-17-1 through 5-17-28 relating to savings and loan associations and credit unions. (Acts 1980, No. 80-658, §5-13-3.)
AL Code § 5-1A-8 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 1A - General Provisions.|Section 5-1A-8 - Effect of Repeal of Prior Acts.

Section 5-1A-8Effect of repeal of prior acts. The repeal of a prior act by Chapters 1A through 12A of this title shall not impair, or otherwise affect, the organization or the continued existence of an existing bank. Nor shall the repeal of a prior act by Chapters 1A through 12A of this title affect any right accrued or established, or any liability or penalty incurred, or the construction of the certificate of incorporation or charter of any bank organized before the enactment of Chapters 1A through 12A of this title, or the determination of the rights and interests of any of its shareholders or creditors, under the provisions of such prior act before the repeal thereof. (Acts 1980, No. 80-658, §5-13-4.)
AL Code § 5-1A-9 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 1A - General Provisions.|Section 5-1A-9 - Deposit Creates Debtor-Creditor Relationship; Agreement as to Person or Purpose for Which Deposit Made and Payable.

Section 5-1A-9Deposit creates debtor-creditor relationship; agreement as to person or purpose for which deposit made and payable. A deposit to a bank or other financial institution permitted by law to take deposits from the general public ("depository institution") creates the relationship of debtor and creditor between the depositor and the depository institution. All such deposits are general deposits unless there is a written agreement between the depositor and the depository institution which provides therein that the deposit is to be paid only to a particular identified or identifiable person or that the deposit is made and payable only for a specific and particular purpose. This section shall not affect accounts labeled "escrow" or "trust." (Acts 1986, No. 86-543, p. 1075.)
AL Code § 5-4A-1 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 4A - Retention of Bank Records.|Section 5-4A-1 - Certain Records to Be Retained; Disposition of Records After Retention for Prescribed Period; Reproduction of Records and Books.

Section 5-4A-1Certain records to be retained; disposition of records after retention for prescribed period; reproduction of records and books. (a) Every bank shall retain its business records for such periods as may be prescribed by regulation adopted pursuant to Section 5-2A-9. (b) Any bank may dispose of any records which have been retained for the period prescribed by the superintendent. (c) Any bank may cause any or all books and records at any time in its custody and books and records relating to trusts, estates and other fiduciary accounts, to be reproduced by photostatic, photographic, or microphotographic process, or by any other generally recognized reproduction process, and reproduction so made, whether enlarged or not, shall have the same force and effect as the original thereof and be admitted in evidence equally with the original. (Acts 1980, No. 80-658, §5-4-1.)
AL Code § 5-4A-2 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 4A - Retention of Bank Records.|Section 5-4A-2 - Applicability of Chapter to State and National Banks, Etc.

Section 5-4A-2Applicability of chapter to state and national banks, etc. This chapter shall be applicable to banks and, to the extent that they are not in contravention of any law or regulation of the United States, the provisions of this chapter shall apply and inure to the benefit of national banking associations doing business in this state. (Acts 1980, No. 80-658, §5-4-2.)
AL Code § 5-5A-1 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 5A - Organization and Operation of Banks.|Section 5-5A-1 - Procedure for Incorporation - Application for Permit.

Section 5-5A-1Procedure for incorporation - Application for permit. (a) The proposed incorporators of a bank shall execute and acknowledge an application for a permit in writing in the form prescribed by the superintendent and shall file the same in the office of the State Banking Department, which application shall be signed by all of the incorporators requesting a certificate authorizing the proposed bank to transact business at the place, time and under the name stated in said application. (b) At the time of filing said application, the applicant shall pay to the superintendent a filing fee. (c) The application shall name at a minimum five directors, and a majority of all directors shall be outside directors unless a written waiver is obtained from the superintendent. A director shall be deemed to be an outside director if the director will not serve as an officer, other than the chair, or an employee of the bank. (d) The application shall name a chair, chief executive officer, a chief financial/operations officer, and a chief lending officer of the bank. The chair must be an outside director. The superintendent may exercise discretion and waive any of the above requirements by written notice. (e) The superintendent shall designate the newspaper in which notice of intention to organize shall be published as required by Section 5-5A-2. (Acts 1980, No. 80-658, §5-5-1; Act 2011-589, p. 1306, §1.)
AL Code § 5-5A-2 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 5A - Organization and Operation of Banks.|Section 5-5A-2 - Procedure for Incorporation - Notice of Intention to Incorporate.

Section 5-5A-2Procedure for incorporation - Notice of intention to incorporate. Before a bank can become incorporated under the laws of Alabama, a notice of intention to organize such bank shall be published once a week for three successive weeks in the newspaper designated by the superintendent. Such notice shall specify the names of the proposed incorporators, the name of the proposed corporation, the place where it proposes to do business and the amount of capital paid in with which it will commence business, provided however, where the superintendent determines an emergency exists which might cause or has caused closing or liquidating an existing bank, the superintendent may waive such advance publication requirement in order to permit formation of a new bank, and such publication shall occur after the new bank commences business. (Acts 1980, No. 80-658, §5-5-2.)
AL Code § 5-5A-3 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 5A - Organization and Operation of Banks.|Section 5-5A-3 - Procedure for Incorporation - Affidavit of Proposed Incorporators; Affidavit of Proposed Stockholders; Submission of Proposed Certificate of Incorporation; Disclosure to Stockholders.

Section 5-5A-3Procedure for incorporation - Affidavit of proposed incorporators; affidavit of proposed stockholders; submission of proposed certificate of incorporation; disclosure to stockholders. After the notice of intention to incorporate has been published, the parties named as proposed incorporators in the published notice of the proposed corporation shall make an affidavit before some officer authorized to administer oaths and in said affidavit shall set forth the fact of publication of the notice as required by Section 5-5A-2, the names of the proposed stockholders, and the names of the proposed executive officers; and attach to the affidavit a copy of the published notice; and each proposed stockholder shall make an affidavit which shall state for himself that he bona fide intends to become a stockholder in the amount subscribed for in the proposed bank. These affidavits shall be filed with the superintendent; and, at the time of filing these affidavits, the proposed incorporators shall submit to the superintendent the proposed certificate of incorporation of the bank. The proposed incorporators must also disclose in writing to each proposed stockholder such data as the superintendent may require. (Acts 1980, No. 80-658, §5-5-3.)
AL Code § 5-5A-4 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 5A - Organization and Operation of Banks.|Section 5-5A-4 - Procedure for Incorporation - Investigation as to Fitness of Stockholders and Executive Officers and Necessity for Banks.

Section 5-5A-4Procedure for incorporation - Investigation as to fitness of stockholders and executive officers and necessity for banks. The superintendent shall ascertain whether the character and general fitness of the persons named as proposed incorporators, proposed stockholders and proposed executive officers in the affidavit and in the proposed certificate of incorporation are such as to command the confidence of the community in which such bank is proposed to be located, and the superintendent shall make this inquiry and determination, regardless of whether or not objections to the incorporation are filed with him. The superintendent shall investigate the convenience and need for a bank in the community where the same is proposed to be located and shall also ascertain if there is sufficient business in said community to support said bank. (Acts 1980, No. 80-658, §5-5-4.)
AL Code § 5-5A-5 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 5A - Organization and Operation of Banks.|Section 5-5A-5 - Procedure for Incorporation - Filing of Objections to Incorporation of Proposed Bank; Investigation of Objections.

Section 5-5A-5Procedure for incorporation - Filing of objections to incorporation of proposed bank; investigation of objections. Any bank doing business in the community or any reputable citizen in the community may file with the superintendent an objection to the incorporation of the proposed bank, provided that the superintendent may refuse to accept objections after 15 days from the last date of publication of the notice of intention to incorporate. If such objection is filed, the superintendent shall thoroughly and specifically inquire into and investigate the objections. The superintendent in his investigation may summon witnesses to appear before him, and may administer oaths to such witnesses, and may examine such witnesses under oath. The superintendent may in his discretion disclose in confidence to the proposed incorporators such information which relates to the proposed bank as he deems appropriate and the superintendent and employees of the Banking Department shall be immune from suit in their individual capacity because of such disclosure and information. (Acts 1980, No. 80-658, §5-5-5.)
AL Code § 5-5A-6 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 5A - Organization and Operation of Banks.|Section 5-5A-6 - Procedure for Incorporation - Certificate of Superintendent of Banks Authorizing Filing of Certificate of Incorporation.

Section 5-5A-6Procedure for incorporation - Certificate of Superintendent of Banks authorizing filing of certificate of incorporation. If the superintendent shall be satisfied from his investigation that the character and general fitness of the persons named as stockholders and executive officers are such as to command the confidence of the community in which such bank is proposed to be located and that there is sufficient business to support said bank in said community and that the convenience and needs of said community shall be served, he shall pass upon the sufficiency of the certificate of incorporation; and, if he approves the certificate he shall issue under his hand and official seal a certificate authorizing the proper official or officials to file the certificate of incorporation upon proof of payment of subscription to the capital subscribed for as required by law. The superintendent shall transmit the proposed certificate of incorporation, together with said certificate made by him to the official or officials with which a certificate of incorporation would be filed under the business corporation laws of this state, and the superintendent shall keep on file in his office a duplicate of the certificates made by him. (Acts 1980, No. 80-658, §5-5-6.)
AL Code § 5-5A-7 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 5A - Organization and Operation of Banks.|Section 5-5A-7 - Procedure for Incorporation - Filing and Recordation of Certificate of Incorporation.

Section 5-5A-7Procedure for incorporation - Filing and recordation of certificate of incorporation. The official or officials designated by the business corporation laws to file certificates of incorporation shall, upon the certificate of incorporation being duly signed by the incorporators and proof being duly made as required by law of the payment of subscription to the capital, file and record the certificate of incorporation and other papers necessary or deemed necessary in the incorporation of the bank, together with the said certificate issued by the superintendent. (Acts 1980, No. 80-658, §5-5-7.)
AL Code § 5-5A-8 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 5A - Organization and Operation of Banks.|Section 5-5A-8 - Procedure for Incorporation - Refusal to Permit Incorporation; Appeal From Refusal to Banking Board.

Section 5-5A-8Procedure for incorporation - Refusal to permit incorporation; appeal from refusal to Banking Board. If the superintendent is of the opinion from his investigation that the character and general fitness of the persons named as stockholders or executive officers are such as not to command the confidence of the community in which such bank is proposed to be located or that there is not a sufficient business to support said bank in said community or that the convenience or needs of said community shall not be served, he shall issue under his hand and official seal, a refusal to permit the incorporation of the proposed bank and a copy of his refusal shall be filed in the superintendent's office, and the refusal and the proposed certificate of incorporation shall be returned to the proposed incorporators or their agent. No right of appeal to the Banking Board exists except upon refusal of the superintendent to permit incorporation. Any proposed stockholder or individual may appeal from such refusal of the superintendent by written notice of appeal filed with the superintendent within 28 days of the notice of refusal to the Banking Board. The Banking Board may take evidence and examine witnesses with respect to the propriety and justice vel non of said refusal and may make such findings and orders as may be necessary either to confirm said refusal or to permit the incorporation of such bank. Full power and authority is hereby vested in the State Banking Board to review, revise, and reverse or confirm any ruling or finding or order of the superintendent denying the establishment of state banks and to take evidence and examine witnesses of all parties touching such matters. The Banking Board will notify all parties of its decision. (Acts 1980, No. 80-658, §5-5-8.)
AL Code § 5-5A-9 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 5A - Organization and Operation of Banks.|Section 5-5A-9 - Procedure for Incorporation - Judicial Review.

Section 5-5A-9Procedure for incorporation - Judicial review. Nothing in this chapter shall be construed to prevent the Circuit Court of Montgomery County, as provided by law, from reviewing and reversing either the action of the Banking Board in granting or refusing a charter or permitting the organization of a new bank or the action of the superintendent in granting a charter or permitting the organization of a new bank. Written notice of appeal must be filed with that court within 28 days of the order from which the appeal is taken. Upon proper proceedings, the court, after full hearing of the matters at issue, shall enter an order or judgment reversing or affirming the order appealed. The granting of a charter or permit by the superintendent or granting or refusal to grant a charter or permit by the Banking Board shall be taken as prima facie just and reasonable. (Acts 1980, No. 80-658, §5-5-9.)
AL Code § 5-5A-10 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 5A - Organization and Operation of Banks.|Section 5-5A-10 - Permit to Transact Business - Required.

Section 5-5A-10Permit to transact business - Required. No bank shall engage in the banking business until it shall have received from the superintendent a permit to transact a banking business. Any person who shall hereafter transact any business as an officer or agent of any bank hereafter incorporated, before such bank is authorized to transact business as a bank by the permit of the superintendent, shall be guilty of a misdemeanor and upon conviction, shall be fined not less than $1,000.00 nor more than $10,000.00. Each day on which said person transacts such business shall be a separate offense. The superintendent is empowered to seek an injunction from any court of competent jurisdiction enjoining such transaction of business. (Acts 1980, No. 80-658, §5-5-10.)
AL Code § 5-5A-11 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 5A - Organization and Operation of Banks.|Section 5-5A-11 - Permit to Transact Business - Examination; Issuance and Recordation of Permit.

Section 5-5A-11Permit to transact business - Examination; issuance and recordation of permit. The superintendent shall, before issuing his permit to any bank to commence business under the application provided for in Section 5-5A-1, examine or cause an examination to be made in order to ascertain whether the requisite capital of such bank has been paid in cash. If the superintendent shall find that the requisite capital has been paid in cash, that the certificate of incorporation has been approved and recorded and that all other requirements for the issuance of the permit have been met, he shall issue his permit authorizing such bank to commence business at the place, time and under the name as stated in the application for the permit and to transact business in this state as a bank, which permit shall be recorded in the office of the superintendent in a book to be kept by him for that purpose, and a certified copy thereof shall be filed and recorded at the expense of the bank in the office of the official or officials with which the certificate of incorporation of the bank has been filed. (Acts 1980, No. 80-658, §5-5-11.)
AL Code § 5-5A-12 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 5A - Organization and Operation of Banks.|Section 5-5A-12 - Membership in Federal Deposit Insurance Corporation, Etc.

Section 5-5A-12Membership in federal deposit insurance corporation, etc. All banks now or hereafter operating under the laws of this state shall be members of the Federal Deposit Insurance Corporation or such other agency as may be created to insure the deposits of such bank. (Acts 1980, No. 80-658, §5-5-12.)