For purposes of this article:

Terms Used In Alabama Code 5-13B-41

  • agency: when used in reference to an office of a foreign bank, shall have the same meaning as is set forth in Section 1(b)(1) of the Federal International Banking Act (12 U. See Alabama Code 5-13B-41
  • Alabama state bank: means a bank organized under the laws of Alabama. 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
  • Bank Holding Company Act: means the Federal Bank Holding Company Act of 1956, as amended (12 U. See Alabama Code 5-13B-41
  • branch: when used in reference to an office of a foreign bank, shall have the same meaning as set forth in Section 1(b)(3) of the Federal International Banking Act (12 U. See Alabama Code 5-13B-41
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Federal Deposit Insurance Act: means the Federal Deposit Insurance Act, as amended (12 U. See Alabama Code 5-13B-41
  • federal International Banking Act: means the federal International Banking Act of 1978, as amended (12 U. See Alabama Code 5-13B-41
  • Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
  • 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
  • Interstate Banking and Branching Efficiency Act: means the federal Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994, Public Law No. See Alabama Code 5-13B-41
  • limited branch: means a branch of a foreign bank that accepts only such deposits as would be permissible for a corporation organized under Section 25A of the Federal Reserve Act in accordance with the provisions of Section 5(a)(7) of the Federal International Banking Act (12 U. See Alabama Code 5-13B-41
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • person: includes a corporation as well as a natural person. See Alabama Code 1-1-1
  • Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
  • state: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Alabama Code 1-1-1
  • 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
  • United States: when used in a geographical sense, means the several states, the District of Columbia, Puerto Rico, Guam, American Samoa, the American Virgin Islands, the Trust Territory of the Pacific Islands, and any other territory of the United States; and, when used in a political sense, means the federal government of the United States. See Alabama Code 5-13B-41

(a) The term “bank” means any bank as defined in: Section 2(c) of the Bank Holding Company Act (12 U.S.C. §1841(c)); Section 3(a)(1) of the Federal Deposit Insurance Act (12 U.S.C. §1813(a)(1)), other than a branch of a foreign bank; or, as the context may require, in Chapter 5A, Title 5. The term “bank” as used in this article shall not in any event include a foreign bank or a branch or agency of a foreign bank.

(b) The term “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. The term includes foreign commercial banks, foreign merchant banks, and other foreign institutions that engage in banking activities usual in connection with the business of banking in the countries where such foreign institutions are organized or operating.

(c) The term “out-of-state bank” means a bank, the home state of which is a state other than Alabama.

(d) The term “out-of-state foreign bank” means a foreign bank, the home state of which is a state other than Alabama.

(e) The term “Alabama state bank” means a bank organized under the laws of Alabama.

(f) The term “Alabama national bank” means a national banking association having its headquarters within Alabama.

(g) The term “Alabama bank” means an Alabama state bank or an Alabama national bank.

(h) The terms “bank holding company,” “subsidiary,” and “affiliate,” have the same meaning as set forth in Section 2 of the Bank Holding Company Act (12 U.S.C. §1841), the term “control” shall be construed consistently with the provisions of Section 2(a)(2) of the Bank Holding Company Act (12 U.S.C. §1841(a)(2)), and the term “depository institution” means any institution that is included for any purpose within the definitions of “insured depository institution” as set forth in Sections 3(c)(2) and 3(c)(3) of the Federal Deposit Insurance Act (12 U.S.C. §1813(c)(2) and (3)).

(i) The term “out-of-state bank holding company” means a bank holding company, the home state of which is a state other than Alabama.

(j) The term “state” has the same meaning as is set forth in Section 3(a)(3) of the Federal Deposit Insurance Act (12 U.S.C. §1813(a)(3)).

(k) The term “home state” has the same meaning in reference to national banks, state banks, and bank holding companies as is set forth in Section 44(f)(4) of the Federal Deposit Insurance Act (12 U.S.C. §1831u), and the same meaning in reference to foreign banks as is set forth in Section 5(c) of the Federal International Banking Act (12 U.S.C. §3103(c)).

(l) The term “foreign person” means a natural or juridical person who is a citizen or national of one or more countries, including any colonies, dependencies, or possessions of such countries, other than the United States.

(m) The term “branch,” when used in reference to an office of a foreign bank, shall have the same meaning as set forth in Section 1(b)(3) of the Federal International Banking Act (12 U.S.C. §3101(3)), and when used in reference to an office of a bank as defined in this section, shall have the same meaning as “domestic branch” set forth in Section 3(o) of the Federal Deposit Insurance Act (12 U.S.C. §1813(o)).

(n) The term “interstate branch” means a branch of a bank or a branch of a foreign bank, as the context may require, which is, or is to be, established after September 29, 1994, pursuant to the authority contained in the Interstate Banking and Branching Efficiency Act, outside the home state of the bank or foreign bank. In the case of a foreign bank, the term shall not include a limited branch.

(o) The term “limited branch” means a branch of a foreign bank that accepts only such deposits as would be permissible for a corporation organized under Section 25A of the Federal Reserve Act in accordance with the provisions of Section 5(a)(7) of the Federal International Banking Act (12 U.S.C. §3103(a)(7)).

(p) The term “agency,” when used in reference to an office of a foreign bank, shall have the same meaning as is set forth in Section 1(b)(1) of the Federal International Banking Act (12 U.S.C. §3101(1)).

(q) The term “federal branch” means a branch of a foreign bank that is licensed by the Comptroller of the Currency pursuant to the provisions of Section 4 of the federal International Banking Act (12 U.S.C. §3102).

(r) The term “federal agency” means an agency of a foreign bank that is licensed by the Comptroller of the Currency pursuant to the provisions of Section 4 of the Federal International Banking Act (12 U.S.C. §3102).

(s) The term “Alabama state branch,” when used in reference to an office of a foreign bank, shall mean a branch of a foreign bank that is located in this state and licensed pursuant to the provisions of Division 3 of this article.

(t) The term “Alabama state agency,” when used in reference to an office of a foreign bank, shall mean an agency of a foreign bank that is located in this state and licensed pursuant to the provisions of Division 3 of this article.

(u) The term “representative office” shall have the same meaning as is set forth in Section 1(b)(15) of the Federal International Banking Act (12 U.S.C. §3101(15)), and the term “Alabama representative office” shall mean any such office that is located in this state.

(v) The term “United States,” when used in a geographical sense, means the several states, the District of Columbia, Puerto Rico, Guam, American Samoa, the American Virgin Islands, the Trust Territory of the Pacific Islands, and any other territory of the United States; and, when used in a political sense, means the federal government of the United States.

(w) The term “Bank Holding Company Act” means the Federal Bank Holding Company Act of 1956, as amended (12 U.S.C. §§1841 et seq.).

(x) The term “Federal Deposit Insurance Act” means the Federal Deposit Insurance Act, as amended (12 U.S.C. §§1813 et seq.).

(y) The term “federal International Banking Act” means the federal International Banking Act of 1978, as amended (12 U.S.C. §§3101 et seq.).

(z) The term “Interstate Banking and Branching Efficiency Act” means the federal Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994, Public Law No. 103-328, 108 Stat. 2338-2381 (September 29, 1994), codified at various sections of Title 12, United States Code.

(aa) The term “superintendent” means the superintendent then in office and, where appropriate, all of his or her successors and predecessors in office.

(bb) The term “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;

(2) Any agency of another state with primary responsibility for chartering and supervising banks; and

(3) Any agency of a country, including any colonies, dependencies, possessions, or political subdivisions thereof, other than the United States.

(Acts 1995, No. 95-115, p. 134, §23.)