§ 5-13B-27 — Enforcement

Alabama § 5-13B-27

• Jurisdiction: Alabama
• Title 5: Banks and Financial Institutions
• Ch. 13B: Interstate and International Bank Acquisitions, Mergers and Branching
• Art. 2: Interstate Bank Mergers and Branching

Text

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.

Legislative History

(Acts 1995, No. 95-115, p. 134, §19.)