LegalFix
Sign In

Section 5-3A-2 - Acceptance of examinations and reports of federal bank regulatory agency, etc.

AL Code § 5-3A-2 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

The superintendent is authorized to accept, in his discretion, in lieu of any examination authorized by the laws of this state to be conducted by his department the examination that may have been made of same within a reasonable period by a federal bank regulatory agency, provided a copy of said examination is furnished to said superintendent. Nothing in this section shall be construed to limit the duty of any banks in this state, deposits in which are to any extent insured under the provisions of the Federal Deposit Insurance Act or of any amendment of or substitution for the same, to comply with the provisions of said act, its amendments or substitutions or the requirements of said corporation relative to examinations and reports, nor to limit the powers of the superintendent with reference to examinations and reports under existing law.

Previous Section
Section 5-3A-1 - Required times; items to be examined; applicability to bank holding companies and affiliates.
Next Section
Section 5-3A-3 - Disclosure of information obtained by superintendent, bank examiners, etc.