reglab/statecodes huggingface dataset:
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 13B - Interstate and International Bank Acquisitions, Mergers and Branching. › Article 2 - Interstate Bank Mergers and Branching. › Section 5-13B-24 - Notice and Filing Requirements.

Section 5-13B-24
Notice and filing requirements.
Any out-of-state bank that will be the resulting bank pursuant to an interstate merger transaction involving an Alabama state bank shall notify the superintendent of the proposed merger not later than the date on which it files an application for an interstate merger transaction with the responsible federal bank supervisory agency, and shall submit a copy of that application to the superintendent and pay the filing fee, if any, required by the superintendent. Any Alabama state bank which is a party to such interstate merger transaction shall comply with Title 5, Chapter 7A, and with other applicable state and federal laws. Any out-of-state bank which shall be the resulting bank in such an interstate merger transaction shall provide satisfactory evidence to the superintendent of compliance with or exemption from Sections 10-2B-15.01 et seq.
(Acts 1995, No. 95-115, p. 134, §16.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 13B - Interstate and International Bank Acquisitions, Mergers and Branching. › Article 2 - Interstate Bank Mergers and Branching. › Section 5-13B-25 - Powers.

Section 5-13B-25
Powers.
(a) An out-of-state state bank which establishes and maintains one or more branches in Alabama under this article may conduct any activities at such branch or branches that are authorized under the laws of this state for Alabama state banks.
(b) An Alabama state bank may conduct any activities at any branch outside Alabama that are permissible for a bank chartered by the host state where the branch is located, except to the extent such activities are expressly prohibited by the laws of this state; provided, however, that the superintendent shall waive any such prohibition unless he or she determines, by order or regulation, that the involvement of out-of-state branches of an Alabama state bank in particular activities would threaten the safety or soundness of the bank.
(Acts 1995, No. 95-115, p. 134, §17.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 13B - Interstate and International Bank Acquisitions, Mergers and Branching. › Article 2 - Interstate Bank Mergers and Branching. › Section 5-13B-27 - Enforcement.

Section 5-13B-27
Enforcement.
If the superintendent determines that a branch maintained by an out-of-state state bank in this state is being operated in violation of any provision of the laws of this state, or that such branch is being operated in an unsafe and unsound manner, the superintendent shall have the authority to take all such enforcement actions as he or she would be empowered to take if the branch were an Alabama state bank; provided that the superintendent shall promptly give notice to the home state regulator of each enforcement action taken against an out-of-state state bank and, to the extent practicable, shall consult and cooperate with the home state regulator in pursuing and resolving the enforcement action.
(Acts 1995, No. 95-115, p. 134, §19.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 13B - Interstate and International Bank Acquisitions, Mergers and Branching. › Article 2 - Interstate Bank Mergers and Branching. › Section 5-13B-28 - Regulations.

Section 5-13B-28
Regulations.
The superintendent may promulgate such regulations as he or she determines to be necessary or appropriate in order to implement the provisions of this article.
(Acts 1995, No. 95-115, p. 134, §20.)
2023 Code of Alabama › Title 5 - Banks and Financial Institutions. › Chapter 13B - Interstate and International Bank Acquisitions, Mergers and Branching. › Article 2 - Interstate Bank Mergers and Branching. › Section 5-13B-29 - Notice of Subsequent Merger, Etc.

Section 5-13B-29
Notice of subsequent merger, etc.
Each out-of-state state bank that has established and maintains a branch in this state pursuant to this article, or the home state regulator of such bank, shall give at least 30 days' prior written notice to the superintendent, or, in the case of an emergency transaction, such shorter notice as is consistent with applicable state or federal law, of any merger, consolidation, or other transaction that would cause a change of control with respect to such out-of-state state bank or any bank holding company that controls such bank, with the result that an application would be required to be filed pursuant to the federal Change in Bank Control Act of 1978, as amended, 12 U.S.C. §1817(j), or the federal Bank Holding Company Act of 1956, as amended, 12 U.S.C. §§1841 et seq., or any successor statutes thereto.
(Acts 1995, No. 95-115, p. 134, §21.)
2023 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-40
Purpose.
(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.)
2023 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-42
General 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.)
2023 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-60
Purpose.
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.)
2023 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-61
Operations 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.)
2023 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-62
Citizenship 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.)
2023 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-80
Purpose.
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.)
2023 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-81
Branches 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.)
2023 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-82
Application 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.)
2023 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-83
Application 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.)
2023 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-84
Application 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.)
2023 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-85
No 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.)
2023 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-87
Fiduciary 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.)
2023 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-88
Authority 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.)
2023 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-89
Representative 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.)
2023 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-90 - Representative Office - Application.

Section 5-13B-90
Representative office - Application.
(a) The application for a license to establish and maintain an Alabama representative office shall be in writing under oath and shall be in such form and contain such information as the superintendent may require by regulation or order. The application shall be accompanied by a reasonable fee as the superintendent may establish by regulation.
(b) The superintendent shall require a foreign bank to include as part of its application to establish and maintain an Alabama representative office 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 such foreign bank or any of its successors which arises out of a transaction with its Alabama representative office, 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, §38.)
2023 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-91 - Representative Office - Factors for Approval of Application.

Section 5-13B-91
Representative office - Factors for approval of application.
(a) A foreign bank making an application for a license to establish and maintain an Alabama representative office shall deliver to the superintendent two, or more as the superintendent may require by regulation, duplicate originals of the foreign bank's application.
(b) The superintendent shall issue a license to a foreign bank to establish and maintain an Alabama representative office if he or she finds that:
(1) The foreign bank is of good character and sound financial standing;
(2) The management of the foreign banks and the proposed management of the Alabama representative office are adequate; and
(3) The convenience and needs of persons to be served by the proposed Alabama representative office will be promoted.
(c) If the superintendent determines to issue a license to a foreign bank to establish and maintain an Alabama representative office, he or she shall, when all fees have been paid as required under this article:
(1) Endorse on each duplicate original of the application the word "Filed," and the date of the filing thereof and return to the foreign bank one such duplicate original so endorsed;
(2) File in his or her office one of such duplicate originals of the application; and
(3) Issue a license to establish and maintain an Alabama representative office to such foreign bank.
(d) Each license issued to a foreign bank to establish and maintain an Alabama representative office shall state fully the name of the foreign bank to which such license is issued, the address or addresses at which such Alabama representative office is to be located and all such other information as the superintendent may require by regulation.
(Acts 1995, No. 95-115, p. 134, §39.)
2023 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-92 - Representative Office - Permissible Activities.

Section 5-13B-92
Representative office - Permissible activities.
(a) A foreign bank which is licensed to establish and maintain an Alabama representative office may, subject to such regulations as the superintendent may prescribe, engage in the following activities:
(1) Solicitation for loans and in connection therewith the assembly of credit information, making of property inspections and appraisals, securing of title information, preparation of applications for loans including making recommendations with respect to action thereon, solicitation of investors to purchase loans from the foreign bank, and the search for such investors to contract with the foreign bank for servicing of such loans;
(2) The solicitation of new business;
(3) The conduct of research; and
(4) Back office administrative functions as may be more specifically defined in regulations issued by the superintendent.
Any other activity which the foreign bank seeks to conduct at such office shall be subject to the prior written approval of the superintendent by general regulation or upon application in such form as the superintendent shall require by regulation or order.
(b) Notwithstanding subsection (a), an Alabama representative office may engage in credit approval activities provided that the foreign bank (1) gives 45 days' prior written notice to the superintendent; and (2) the superintendent does not object within such 45-day period to the conduct of such activities by the Alabama representative office. Written notice under this subsection shall be in such a form and contain such information as the superintendent shall require by regulation or order.
(Acts 1995, No. 95-115, p. 134, §40.)
2023 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-93 - Representative Office - Revocation of License.

Section 5-13B-93
Representative office - Revocation of license.
The superintendent, after notice and opportunity for a hearing, may revoke a license to establish and maintain an Alabama representative office if he or she finds:
(1) The foreign bank has violated any provision of this article or any other law, rule, or regulation of this state; or
(2) Any fact or condition exists which, if it had existed at the time of the foreign bank's original application for such license, would have resulted in the superintendent's refusal to issue such license to the foreign bank.
(Acts 1995, No. 95-115, p. 134, §41.)
2023 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-94 - Posting of License.

Section 5-13B-94
Posting of license.
Each foreign bank which is licensed to establish and maintain an Alabama state branch, Alabama state agency, or Alabama representative office shall post its license in a conspicuous place at such office.
(Acts 1995, No. 95-115, p. 134, §42.)
2023 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-95 - Licenses Not Transferable.

Section 5-13B-95
Licenses not transferable.
No license issued by the superintendent in accordance with this article shall be transferable or assignable.
(Acts 1995, No. 95-115, p. 134, §43.)
2023 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-96 - Appointment of Superintendent as Agent for Service of Process.

Section 5-13B-96
Appointment of superintendent as agent for service of process.
(a) A foreign bank which is licensed to establish and maintain an Alabama state branch, Alabama state agency, or Alabama representative office shall file with the superintendent 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 judicial or administrative 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 directly 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.
(b) Any foreign bank which establishes an Alabama state branch, Alabama state agency, or Alabama representative office and which has not filed with the superintendent an instrument pursuant to subsection (a) shall be deemed by the establishment of such office to have appointed the superintendent as its agent, representative, and attorney to receive service of any lawful process in any judicial or administrative proceeding against the foreign bank or any of its successors which arises out of the foreign bank's activities in this state, with the same force and validity as if served directly on the foreign bank or its successor, as the case may be.
(Acts 1995, No. 95-115, p. 134, §44.)
2023 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-97 - Service of Process.

Section 5-13B-97
Service of process.
(a) Service of any lawful process in any judicial or administrative proceeding against the foreign bank or any of its successors which arises out of the foreign bank's activities in this state shall be made on the superintendent by delivering to and leaving with him or her, or with any official having charge of his or her office, duplicate copies of such process, notice, or demand. If any process, notice, or demand is served on the superintendent, he or she shall immediately cause a copy thereof to be forwarded by registered mail addressed to such foreign bank at its principal office as the same appears in his or her records. Any service so had on the superintendent shall be returnable in not less than 30 days.
(b) Nothing in this article limits or affects the right to serve any process, notice, or demand required or permitted by law to be served upon a foreign corporation in any other manner now or hereafter permitted by law.
(c) The superintendent shall keep a record of all processes, notices, and demands served upon him or her under this section and shall record therein the time of such service and his or her action with reference thereto.
(Acts 1995, No. 95-115, p. 134, §45.)
2023 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-98 - Filing of Amendments to Articles of Incorporation.

Section 5-13B-98
Filing of amendments to articles of incorporation.
A foreign bank which is licensed to maintain an Alabama state branch or Alabama state agency, whenever its articles of incorporation are amended, shall forthwith file in the office of the superintendent a copy of such amendment duly authenticated by the proper officer of the country of such foreign bank's organization, but the filing thereof may not of itself enlarge or alter the purpose or purposes for which such foreign bank is authorized to pursue in the transaction of its business in this state, nor authorize such foreign bank to transact business in this state under any name other than the name set forth in its license, nor extend the duration of its corporate existence.
(Acts 1995, No. 95-115, p. 134, §46.)
2023 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-99 - Amended License to Establish and Maintain a Branch or Agency.

Section 5-13B-99
Amended license to establish and maintain a branch or agency.
(a) A foreign bank which is licensed to establish and maintain an Alabama state branch or Alabama state agency must secure an amended license if it changes its corporate name, changes the duration of its corporate existence, or desires to pursue in this state other or additional purposes than those set forth in its prior application under this article for a license, by making application therefor to the superintendent.
(b) The requirements with respect to the form and contents of an application under subsection (a), the manner of its execution, the filing of duplicate originals thereof with the superintendent, the issuance of an amended license and the effect thereof shall be the same as in the case of an initial application for a license to establish and maintain an Alabama state branch or Alabama state agency.
(Acts 1995, No. 95-115, p. 134, §47.)
2023 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-100 - Change of Control of Foreign Bank.

Section 5-13B-100
Change of control of foreign bank.
A foreign bank which is licensed to establish and maintain an Alabama state branch, Alabama state agency, or Alabama representative office shall file with the superintendent a notice, in such form and containing such information as the superintendent may prescribe, no later than 14 calendar days after such foreign bank becomes aware of any acquisition of control of such foreign bank or merges with another foreign bank.
(Acts 1995, No. 95-115, p. 134, §48.)
2023 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-101 - Relocation of Office; Written Notice Necessary.

Section 5-13B-101
Relocation of office; written notice necessary.
(a) No foreign bank which is licensed to establish and maintain an Alabama state branch, Alabama state agency, or Alabama representative office shall relocate any such office unless the foreign bank provides prior written notice to the superintendent and the superintendent shall have approved such relocation.
(b) Written notice provided by a foreign bank under this section shall be in such form and contain such information as the superintendent shall require by regulation or order.
(Acts 1995, No. 95-115, p. 134, §49.)
2023 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-102 - Examination; Payment of Fees.

Section 5-13B-102
Examination; payment of fees.
(a) An Alabama state branch, Alabama state agency, or Alabama representative office shall be subject to examination by the superintendent at such intervals and in such a manner as he or she shall establish by regulation or order.
(b) In conducting an examination pursuant to this section, the superintendent shall:
(1) Have full access to the offices, books, accounts, and records of each office located in this state, as well as all of the books, accounts, and records maintained in this state of any office not located in this state of such foreign bank; and
(2) Have authority to require the attendance of and to examine under oath all persons whose testimony may be required relative to the activities of such office.
(c) A foreign bank which is licensed to establish and maintain an Alabama state branch, Alabama state agency, or Alabama representative office shall be assessed a reasonable fee for the expenses incurred by the superintendent in making an examination of such office. Such fee shall be assessed in an amount and in a manner as the superintendent shall establish by regulation.
(d) A foreign bank which is licensed to establish and maintain an Alabama state branch, Alabama state agency, or Alabama representative office shall be subject to all reasonable fees and expenses in such amounts as the superintendent may require by regulation.
(Acts 1995, No. 95-115, p. 134, §50.)
2023 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-104 - Reports.

Section 5-13B-104
Reports.
(a) Each foreign bank which is licensed to establish and maintain an Alabama state branch, Alabama state agency, or Alabama representative office shall file with the superintendent such reports as and when the superintendent may require by regulation or order.
(b) Each report filed with the superintendent under this article or under any regulation or order issued under this article shall be in such form and contain such information, shall be signed in such manner, and shall be verified in such manner, as the superintendent may require by regulation or order.
(Acts 1995, No. 95-115, p. 134, §52.)
2023 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-105 - Confidentiality of Examination Reports.

Section 5-13B-105
Confidentiality of examination reports.
(a) All reports of examinations and investigations, correspondence, and memoranda concerning or arising out of such examinations and investigations, including any duly authenticated copy or copies thereof in the possession of any foreign bank, shall not be subject to subpoena and shall not be made public unless, in the judgment of the superintendent, the public advantage will be served by the publication thereof, in which event the superintendent may publish or authorize the publication of a copy of any such report or any part thereof in such manner as may be deemed proper.
(b) For the purposes of this section, reports of examinations shall include reports of examinations conducted by any bank supervisory agency which are considered confidential by such agency and which are in possession of the superintendent.
(Acts 1995, No. 95-115, p. 134, §53.)
2023 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-106 - Books, Accounts, and Records.

Section 5-13B-106
Books, accounts, and records.
Each foreign bank which is licensed to establish and maintain an Alabama state branch, Alabama state agency, or Alabama representative office shall maintain or make available at any such office appropriate books, accounts, and records reflecting (1) all transactions effected by or on behalf of such office and (2) all actions taken in this state by employees of the foreign banking corporation located in this state to effect transactions on behalf of any office of such foreign bank located outside this state.
(Acts 1995, No. 95-115, p. 134, §54.)