(a) To the extent consistent with subsection (c), the superintendent may make such examinations of any branch established and maintained in this state pursuant to this article by an out-of-state state bank as the superintendent may deem necessary to determine whether the branch is being operated in compliance with the laws of this state and in accordance with safe and sound banking practices. The provisions of Chapter 3A, Title 5, shall apply to such examinations.
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Terms Used In Alabama Code 5-13B-26

  • Alabama state bank: means a bank chartered under the laws of Alabama. See Alabama Code 5-13B-21
  • Bank supervisory agency: means :
    (1) The Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and any successor to these agencies; and
    (2) Any agency of another state with primary responsibility for chartering and supervising banks. See Alabama Code 5-13B-21
  • Contract: A legal written agreement that becomes binding when signed.
  • Home state: means :
    (1) With respect to a national bank, the state in which the main office of the bank is located;
    (2) With respect to a state bank, the state by which the bank is chartered;
    (3) With respect to a foreign bank, the state determined to be the home state of such foreign bank under 12 U. See Alabama Code 5-13B-21
  • Home state regulator: means , with respect to an out-of-state state bank, the bank supervisory agency of the state in which such bank is chartered. See Alabama Code 5-13B-21
  • Host state: means a state, other than the home state of a bank, in which the bank maintains, or seeks to establish and maintain, a branch. See Alabama Code 5-13B-21
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Out-of-state bank: means a bank whose home state is a state other than Alabama. See Alabama Code 5-13B-21
  • Out-of-state state bank: means a bank chartered under the laws of any state other than Alabama. See Alabama Code 5-13B-21
  • State: means any state, territory, or other possession of the United States, including the District of Columbia. See Alabama Code 5-13B-21
  • Superintendent: means the Superintendent of Banks then in office and, where appropriate, all of his or her successors and predecessors in office. See Alabama Code 5-13B-21
(b) The superintendent may prescribe requirements for periodic reports regarding any out-of-state bank that operates a branch in Alabama pursuant to this article. The required reports shall be provided by such bank or by the bank supervisory agency having primary responsibility for such bank. Any reporting requirements prescribed by the superintendent under this subsection shall be (1) consistent with the reporting requirements applicable to Alabama state banks and (2) appropriate for the purpose of enabling the superintendent to carry out his or her responsibilities under this article.
(c) The superintendent may enter into cooperative, coordinating and information-sharing agreements with any other bank supervisory agencies or any organization affiliated with or representing one or more bank supervisory agencies with respect to the periodic examination or other supervision of any branch in Alabama of an out-of-state state bank, or any branch of an Alabama state bank in any host state, and the superintendent may accept such parties’ reports of examination and reports of investigation in lieu of conducting his or her own examinations or investigations.
(d) The superintendent may enter into contracts with any bank supervisory agency that has concurrent jurisdiction over an Alabama state bank or an out-of-state state bank operating a branch in this state pursuant to this article to engage the services of such agency’s examiners at a reasonable rate of compensation, or to provide the services of the superintendent’s examiners to such agency at a reasonable rate of compensation. Any such contract shall be deemed a sole source, one vendor and one supplier contract under the procurement laws of the state and shall be exempt from competitive bidding requirements.
(e) The superintendent may enter into joint examinations or joint enforcement actions with other bank supervisory agencies having concurrent jurisdiction over any branch in Alabama of an out-of-state state bank or any branch of an Alabama state bank in any host state; provided, that the superintendent may at any time take such actions independently if the superintendent deems such actions to be necessary or appropriate to carry out his or her responsibilities under this article and to ensure compliance with the laws of this state; but provided further, that, in the case of an out-of-state state bank, the superintendent shall recognize the exclusive authority of the home state regulator over corporate governance matters and the primary responsibility of the home state regulator with respect to safety and soundness matters.
(f) Each out-of-state state bank that maintains one or more branches in this state may be assessed and, if assessed, shall pay supervisory and examination fees in accordance with the laws of this state and regulations of the superintendent. Such fees may be shared with other bank supervisory agencies or any organization affiliated with or representing one or more bank supervisory agencies in accordance with agreements between such parties and the superintendent.
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