Code of Alabama - Title 5: Banks and Financial Institutions - Section 5-13B-85 - No concurrent maintenance of federal branches or agencies

Section 5-13B-85 - No concurrent maintenance of federal branches or agencies.

(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.

(Acts 1995, No. 95-115, p. 134, §33.)

Last modified: May 3, 2021