Alabama § 5-13B-4 - Permitted Acquisitions.
Full text of Alabama Code of Alabama § 5-13B-4 — Permitted Acquisitions., with citation guidance and answers to common questions.
§ 5-13B-4. Permitted Acquisitions.
(a) No company may acquire an Alabama bank holding company or an Alabama state bank without the prior approval of the superintendent.
(b) The approval of the superintendent under subsection (a) shall not be required where the acquisition is made:
(1) In a transaction arranged by the superintendent or another bank supervisory agency to prevent the insolvency or closing of the acquired bank; or
(2) In a transaction in which a bank forms its own bank holding company, if the ownership rights of the former bank shareholders are substantially similar to those of the shareholders of the new bank holding company.
(c) No Alabama bank holding company may acquire an out-of-state bank or bank holding company without the prior approval of the superintendent.
(d) In a transaction for which the superintendent’s approval is not required under this section, the parties shall give written notice to the superintendent at least 15 days before the effective date of the acquisition, unless a shorter period of notice is expressly permitted or required under applicable federal law.
Frequently Asked Questions About Alabama § 5-13B-4
What does Code of Alabama § 5-13B-4 cover?
Section 5-13B-4 ("Permitted Acquisitions.") is part of the Code of Alabama, the codified statutory law of Alabama. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alabama § 5-13B-4?
A common citation format is "Code of Alabama § 5-13B-4" (Alabama). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alabama law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alabama official source linked on this page or consult a licensed Alabama attorney.
How does Alabama § 5-13B-4 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alabama can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alabama.