This division is intended generally to ensure that interstate state branches of out-of-state foreign banks may be established and operated in this state (1) to the extent consistent with the provisions of Section 5 of the Federal International Banking Act and (2) under terms and conditions that are generally comparable to and no less favorable than those applicable to the establishment of interstate federal branches in this state by out- of-state foreign banks.
Ala. Code § 5-13B-130
Purpose.
Known as the Alabama Interstate and International Banking Act
The act spans §§ 5-13B-1 to 5-13B-99 (65 sections).
(Acts 1995, No. 95-115, p. 134, §64.)
Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.