The provided legal document content covers various aspects of credit unions in the state of Alabama. It includes provisions for merger and conversion procedures, voluntary dissolution, insurance and reserves, rates of interest and finance charges, loans to specific individuals, disposition of shares or deposit accounts of deceased individuals, capital and lien on shares and deposits, deposits made by minors or trust beneficiaries, powers and duties of the supervisory committee, loan approval process, election of officers and committees, reporting requirements and powers of the Administrator, payment of operating fees and assessments, membership requirements and expulsion, powers granted to credit unions, use of the term ‘credit union’ in names and advertising, and procedures for organizing and incorporating credit unions.

The provided legal document content pertains to the Code of Alabama governing banks and financial institutions. It clarifies that Chapters 1A through 12A of the title do not limit or restrict the activities of savings and loan associations or credit unions lawfully authorized. It also states that the provisions of Chapters 1A through 13B and Chapter 20 of the title shall prevail over inconsistent provisions of any other law. The document further specifies that the supervisory provisions of Chapters 1A through 12A do not apply to national banks.

The Alabama Credit Card Act, part of the Code of Alabama, governs the establishment or acquisition of a credit card bank in Alabama. It applies to bank holding companies, bank holding company subsidiaries, domestic lenders, and foreign lenders. The document outlines the conditions that must be satisfied for the establishment or acquisition of a credit card bank, including the payment of a filing fee, minimum capital requirements, and limitations on the bank’s activities.

This legal document, found in the Code of Alabama under the section for Banks and Financial Institutions, governs the negotiation and implementation of the Alabama state-sponsored credit card program. The State Treasurer is authorized to adopt rules and regulations necessary for the program, including provisions for contacting financial institutions, negotiating the state’s fee, and collecting the fee. The net proceeds of the state fees are distributed to the Foundation for Local Schools and the Penny Trust Fund.

The legal document reviewed pertains to the State Banking Department in Alabama and covers various aspects of the organization and operation of state banks, small loan companies, finance companies, and individuals or persons holding licenses from the State Banking Department. It outlines the responsibilities and powers of the superintendent, district attorneys, and auditors, as well as the requirements for audits, examinations, and reports. The document also addresses assessments, fees, and penalties, the appointment and removal of officials, the promulgation of regulations, and the submission of reports.

The provided legal document governs the examinations of banks and the reporting requirements for banks in Alabama. Banks are required to submit a semiannual report to the superintendent, providing detailed information about their resources and liabilities. The report must be transmitted to the superintendent within 30 days of receiving a request and published in a newspaper in the bank’s city or town. The superintendent will compare the published report with the sworn report filed by the bank.

The provided legal document content pertains to the retention of bank records. It states that every bank is required to retain its business records for a period prescribed by regulation. The superintendent has the authority to determine the period for record retention. Once the prescribed period has passed, banks are allowed to dispose of the records. Additionally, banks have the option to reproduce their books and records using various reproduction processes, such as photostatic, photographic, or microphotographic processes.

The provided legal document content covers various aspects of the organization and operation of banks in Alabama. It includes provisions related to the liability of directors and officers for violations of banking regulations, disclosure of financial records, adverse claims to deposits, acquisition of voting shares, payment of deposits made in the names of multiple persons, false statements affecting a bank’s financial condition, retention of checks for the purpose of starting a ‘run’ on a bank, payment of deposits made in trust for another person, notice requirements for certificates of deposit, disposition of small deposits of a deceased person, payment of deposits after the death of the deceased, deposits made by minors, closure of banks on business days and holidays, payment of checks at par, liability of banks for transactions on legal holidays, security for deposits, transactions involving the importation or exportation of goods, acceptance of drafts or bills of exchange, acceptance of bills for any one person, establishment of branch banks, transfer of earnings to surplus and restrictions on dividends, maintenance of reserve funds, powers of banks, issuance of capital notes or debentures, acceptance of federal charters or regulations, amendment of certificate of incorporation, and fees for various banking actions.

This legal document, part of the Code of Alabama, governs the meetings of board of directors and the requirement of bonds for officers and employees of banks. It specifies that every director of a bank must take and subscribe an oath within 30 days after their election, pledging to diligently and honestly perform their duties, comply with the banking law, and be the owner of the required shares of stock. The oath must be filed with the Superintendent of Banks.

This legal document governs the proceedings required to effect consolidation, merger, or transfer of state banks, including those with branches and branch offices. Before such actions can become effective, the board of directors of each affected bank must pass a resolution stating the desirability of the consolidation, merger, or transfer and order the officers of the bank to call a meeting of the stockholders. A notice of the meeting must be mailed to each stockholder at least 30 days before the meeting, specifying the date, place, and purpose of the meeting.