Alabama § 5-13B-89 Representative Office of Foreign Banks - Necessity of Licensure

Alabama Statutes

§ 5-13B-89 — Representative Office of Foreign Banks - Necessity of Licensure

Alabama § 5-13B-89

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

This text of Alabama § 5-13B-89 (Representative Office of Foreign Banks - Necessity of Licensure) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ala. Code § 5-13B-89 (2026).

Text

(a)No foreign bank shall establish or maintain an Alabama representative office unless such foreign bank is licensed by the superintendent to maintain such an Alabama representative office.

(b)Nothing in subsection (a) shall be deemed to prohibit a foreign bank which maintains a federal agency or federal branch in this state from establishing or maintaining one or more Alabama representative offices.

Free access — add to your briefcase to read the full text and ask questions with AI

(a) No foreign bank shall establish or maintain an Alabama representative office unless such foreign bank is licensed by the superintendent to maintain such an Alabama representative office.
(b) Nothing in subsection (a) shall be deemed to prohibit a foreign bank which maintains a federal agency or federal branch in this state from establishing or maintaining one or more Alabama representative offices.