§ 5-1A-2 — Definitions

Alabama § 5-1A-2

• Jurisdiction: Alabama
• Title 5: Banks and Financial Institutions
• Ch. 1A: General Provisions

Text

For the purposes of Chapters 1A through 12A of this title, the following terms shall have the meanings respectively ascribed to them by this section:
(1) BANK. Any banking corporation or trust company organized under the laws of this state under the jurisdiction of the superintendent of banks of this state or organized under the laws of the United States having its principal place of business in this state.
(2) SUPERINTENDENT. The Superintendent of Banks of this state.
(3) RECEIVERSHIP COURT. The circuit court of the county in which is located the principal office of a bank in receivership.
(4) NATIONAL BANK. A national banking association organized pursuant to 12 U.S.C. § 21.
(5) CAPITAL. The sum of the par value of the authorized shares of a bank which have been issued and remain outstanding.
(6) SURPLUS. The aggregate of the amounts transferred to surplus pursuant to Section 5-5A-21 and any amounts subsequently designated as such by action of the board of directors of the bank.
(7) UNDIVIDED PROFITS. The accumulated undistributed net profits of a bank.
(8) BANK HOLDING COMPANY. A bank holding company as defined in 12 U.S.C. § 1841.

Legislative History

(Acts 1980, No. 80-658, §5-1-2.)