Alabama § 5-13B-93 Representative Office - Revocation of License

Alabama Statutes

§ 5-13B-93 — Representative Office - Revocation of License

Alabama·Title 5 Banks and Financial Institutions·Ch. 13B Interstate and International Bank Acquisitions, Mergers and Branching·Art. 3 Regulation of Foreign Banks·Div. 3 Direct Branch, Agency, and Representative Offices of Foreign Banks

The superintendent, after notice and opportunity for a hearing, may revoke a license to establish and maintain an Alabama representative office if he or she finds:

(1)The foreign bank has violated any provision of this article or any other law, rule, or regulation of this state; or

(2)Any fact or condition exists which, if it had existed at the time of the foreign bank’s original application for such license, would have resulted in the superintendent’s refusal to issue such license to the foreign bank.

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The superintendent, after notice and opportunity for a hearing, may revoke a license to establish and maintain an Alabama representative office if he or she finds:
(1) The foreign bank has violated any provision of this article or any other law, rule, or regulation of this state; or
(2) Any fact or condition exists which, if it had existed at the time of the foreign bank’s original application for such license, would have resulted in the superintendent’s refusal to issue such license to the foreign bank.

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