Ala. Code § 5-13B-85

No Concurrent Maintenance of Federal Branches or Agencies.

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, §33.)

(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.

Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.