Code of Alabama - Title 5: Banks and Financial Institutions - Chapter 10A - Banking Emergencies and Compliance With Federal Laws

• Section 5-10A-1 Authorization or direction of banks to postpone paying liabilities, segregate deposits and assets, renew loans, etc
  The superintendent with the concurrence of not less than two other members of the Banking Board, or any three members of the Banking Board without...
• Section 5-10A-2 Promulgation of rules and regulations; requirements of reports, etc., generally
  The superintendent with the concurrence of not less than two members of the Banking Board, or any three members of the Banking Board without action...
• Section 5-10A-3 Declaration of banking holidays; promulgation of emergency rules or regulations
  Whenever, in the opinion of the superintendent it shall be deemed that an emergency exists, the superintendent with the concurrence of not less than two...
• Section 5-10A-4 Extension, etc., of banking holiday or emergency rules or regulations
  Any such bank holiday or any such rule or regulation may be extended, modified, suspended or terminated by the superintendent with the concurrence of not...
• Section 5-10A-5 Sections 5-10A-1 through 5-10A-4 applicable only in emergencies; duration of emergency action
  The provisions of Sections 5-10A-1 through 5-10A-4 authorize actions to be taken during an emergency. Any action taken pursuant to these sections shall be reported...
• Section 5-10A-6 Operation of banks under federal laws
  Any bank may do any and all things necessary or desirable to permit it to operate under the provisions of any act of Congress of...
• Section 5-10A-7 Payment of expenses of bank operating without receivership liquidation
  Whenever, pursuant to any provision of this chapter, any bank is authorized to do any one or more of the things specified in this chapter...
• Section 5-10A-8 Segregation of assets - Manner of segregation generally; distribution of segregated assets upon receivership liquidation of bank
  Whenever pursuant to any provision of state or federal law or of any rule or regulation by any state or federal authority made or adopted...
• Section 5-10A-9 Segregation of assets - Manners of segregation
  Whenever pursuant to any provision of state or federal law or of any rule or regulation by any state or federal authority made or adopted...
• Section 5-10A-10 Segregation of assets - Commingling of items in classes of deposits
  Within any class of deposits in any bank for the purpose of which class particular assets are segregated, the separate items may be mingled and
• Section 5-10A-11 Segregation of assets - Adjustments; identification of segregated items
  Whenever any bank is required to segregate particular assets under any rule or regulation promulgated or extended or modified under this chapter, it shall accomplish...
• Section 5-10A-12 Discharge of deposits of script, clearinghouse certificates or emergency currency
  Any deposit of script, clearinghouse certificates or emergency currency in any form or of any order on any such deposit shall be dischargeable in whole...
• Section 5-10A-13 Issuance and reissuance of script, clearinghouse certificates or emergency currency
  The superintendent with the concurrence of not less than two other members of the Banking Board, or any three members of the Banking Board without...
• Section 5-10A-14 Issuance of notes or certificates of indebtedness as evidence of compensation for services or labor during banking emergency
  Where a banking emergency has been proclaimed by the superintendent and until such time as such emergency is declared to have ended by proclamation of...
• Section 5-10A-15 Authorization and approval of reorganization of bank without receivership liquidation
  The superintendent with the concurrence of not less than two other members of the Banking Board or any three members of the Banking Board without...
• Section 5-10A-16 Compliance with chapter, federal laws, etc., not to entail liability
  No bank nor any surety or guarantor of any bank shall suffer any penalty or liability for damages or increase of liability or be in...
• Section 5-10A-17 Officers not to incur liability or penalties for compliance with orders of superintendent, federal laws, etc
  No public officer or surety on his official bond shall suffer any penalty or liability for damages or increase of liability or be in default...

Last modified: May 3, 2021