HB529 Alabama 2013 Session

Under existing law, the State Banking Department regulates state banks and state bank holding companies and related entities, except for national banks. The existing law specifies that an examination of a bank or bank holding company by the department may be conducted in the interest of the public

This bill would specify that a state bank or state bank holding company and related entities regulated by the department may be examined if there is reason to believe the bank or bank holding company is not being operated in compliance with state law or safe and sound banking practices. The bill would also specify the application of the law to other forms of banking entities

Relating to banks and banking; to amend Sections 5-2A-8, 5-3A-1, 5-3A-3, and 5-3A-11, Code of Alabama 1975, relating to the regulation of state banks and state bank holding companies and certain other forms of banking related entities by the State Banking Department; to further provide for the examination of the banks, bank holding companies, or bank-related entities by the department; and to further specify the forms of other bank related entities.