Code of Alabama - Title 5: Banks and Financial Institutions - Chapter 1A - General Provisions

• Section 5-1A-1 Short title
  Chapters 1A through 13B and Chapter 20 of this title shall be known and may be cited as the "Alabama Banking Code."
• Section 5-1A-2 Definitions
  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:...
• Section 5-1A-3 Use of words "bank," "banker," "banking," etc., restricted
  The use of the words "bank," "banker," "banking," or words of similar meaning in any foreign language as a designation or name, or as part...
• Section 5-1A-4 Restrictions on engaging in banking business
  No person, firm, corporation or other entity except a bank or if otherwise lawfully authorized a credit union or a savings and loan association may...
• Section 5-1A-5 Supervisory provisions not applicable to national banks
  The supervisory provisions of Chapters 1A through 12A of this title shall not apply to national banks.
• Section 5-1A-6 Inconsistent provisions in other laws superseded
  Insofar as the provisions of Chapters 1A through 13B and Chapter 20 of this title are inconsistent with the provisions of any other law, general...
• Section 5-1A-7 Activities of savings and loan associations and credit unions not restricted
  Chapters 1A through 12A of this title are not intended to limit or restrict activities of savings and loan associations or credit unions now or...
• Section 5-1A-8 Effect of repeal of prior acts
  The repeal of a prior act by Chapters 1A through 12A of this title shall not impair, or otherwise affect, the organization or the continued...
• Section 5-1A-9 Deposit creates debtor-creditor relationship; agreement as to person or purpose for which deposit made and payable
  A deposit to a bank or other financial institution permitted by law to take deposits from the general public ("depository institution") creates the relationship of...
• Section 5-1A-10 Use of lender information or trade name in solicitations
  (a) For purposes of this section, the following terms shall have the following meanings: (1) LENDER. A bank, industrial bank, savings and loan association, savings...

Last modified: May 3, 2021