Ala. Code § 5-13B-89

Representative Office of Foreign Banks - Necessity of Licensure.

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, §37.)

(a) No foreign bank shall establish or maintain an Alabama representative office unless such foreign bank is licensed by the superintendent to maintain such an Alabama representative office.

(b) Nothing in subsection (a) shall be deemed to prohibit a foreign bank which maintains a federal agency or federal branch in this state from establishing or maintaining one or more Alabama representative offices.

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