§ 5-13B-5 — Required Application

Alabama § 5-13B-5

• Jurisdiction: Alabama
• Title 5: Banks and Financial Institutions
• Ch. 13B: Interstate and International Bank Acquisitions, Mergers and Branching
• Art. 1: Acquisitions of Banks by Bank Holding Companies

Text

(a) A company that proposes to make an acquisition under this article shall:
(1) File with the superintendent a copy of the application that such company has filed with the responsible federal bank supervisory agency together with such additional information as the superintendent may prescribe; and
(2) Pay to the superintendent the application fee, if any, prescribed by the superintendent.
(b) To the extent consistent with the effective discharge of the superintendent’s responsibilities, the forms established under this article for application and reporting shall conform to those established by the Board of Governors of the Federal Reserve System under the Bank Holding Company Act.
(c) In connection with an application received under this article, the superintendent shall require that prior notice of the application be published one time in a daily newspaper of general circulation and provide an opportunity for public comment.
(d) If the applicant is an out-of-state bank holding company that is not incorporated under the laws of this state, it shall submit with the application evidence satisfactory to the superintendent that the applicant has complied with or is exempted from the requirements of Sections 10-2B-15.01 et seq.

Legislative History

(Acts 1995, No. 95-115, p. 134, §5; Act 2010-548, p. 966, §1.)