(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.
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Terms Used In Alabama Code 5-13B-90

  • Alabama representative office: shall mean any such office that is located in this state. See Alabama Code 5-13B-41
  • bank: as used in this article shall not in any event include a foreign bank or a branch or agency of a foreign bank. See Alabama Code 5-13B-41
  • foreign bank: means any company organized under the laws of a foreign country, a territory of the United States, Puerto Rico, Guam, American Samoa, or the Virgin Islands, that engages directly in the business of banking. See Alabama Code 5-13B-41
  • superintendent: means the superintendent then in office and, where appropriate, all of his or her successors and predecessors in office. See Alabama Code 5-13B-41
  • writing: includes typewriting and printing on paper. See Alabama Code 1-1-1
(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.
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