Alabama § 5-13B-85 No Concurrent Maintenance of Federal Branches or Agencies

Alabama Statutes

§ 5-13B-85 — No Concurrent Maintenance of Federal Branches or Agencies

Alabama § 5-13B-85

JurisdictionAlabama

Title 5Banks and Financial Institutions

Ch. 13BInterstate and International Bank Acquisitions, Mergers and Branching

Art. 3Regulation of Foreign Banks

Div. 3Direct Branch, Agency, and Representative Offices of Foreign Banks

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Bluebook

Ala. Code § 5-13B-85 (2026).

Text

(a)No foreign bank which is licensed under this article to establish and maintain an Alabama state branch or Alabama state agency shall concurrently maintain a federal branch or federal agency in this state.

(b)No foreign bank which maintains a federal branch or federal agency in this state shall concurrently be licensed under this article to maintain an Alabama state branch or Alabama state agency.

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(a) No foreign bank which is licensed under this article to establish and maintain an Alabama state branch or Alabama state agency shall concurrently maintain a federal branch or federal agency in this state.
(b) No foreign bank which maintains a federal branch or federal agency in this state shall concurrently be licensed under this article to maintain an Alabama state branch or Alabama state agency.