Alabama Banking Code

This act provides the general framework for the regulation and supervision of banks by a state banking department. It establishes the department's powers, the reports banks must file and publish, and restrictions on the financial interests of department officers and employees, and it sets rules for core banking operations such as certification of checks, payment of items, deposits held for minors and persons under disability, adverse claims to deposits, notice of account charges, legal holidays and closings, and the transmission of money and foreign exchange. It also governs lending and investment activity, covering reserves against deposits, limits and conditions on loans and extensions of credit including real estate loans, credit cards, overdrafts, and loans to directors, officers, and employees, along with fiduciary and nominee powers, bank service corporations, investment in property and banking premises, the acquisition and disposition of property taken to protect a prior loan, and the treatment of bank and financial holding companies.

Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.