Alabama Code 5-13B-60. Purpose
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Terms Used In Alabama Code 5-13B-60
- 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
- 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
- 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
- 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
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.