Alabama Statutes
§ 5-13B-7 — Procedures Relating to Applications
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
(a)The superintendent shall decide whether to approve an acquisition under this article within 60 days after receipt of a completed application; provided, that if the superintendent requests additional information from the applicant following receipt of a completed application, the time limit for decision by the superintendent shall be the later of:
(1)The date set forth above in this subsection, or
(2)Thirty days after the superintendent’s receipt of the requested additional information.
(b)The superintendent may in his or her discretion hold a public hearing in connection with an application at any time within 20 days after receipt of the completed application if a significant issue of law or fact has been raised with respect to the proposed acquisition.
(c)If the superintendent hol
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Legislative History
(Acts 1995, No. 95-115, p. 134, §7.)