Alabama Code 5-13B-27. Enforcement
Current as of: 2024 | Check for updates
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Attorney's Note
Under the Alabama Code, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Violation | up to 30 days | up to $200 |
Terms Used In Alabama Code 5-13B-27
- Alabama state bank: means a bank chartered under the laws of Alabama. See Alabama Code 5-13B-21
- 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
- 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
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.