Section 5-13B-130 Purpose. - Alabama Statutes

Section 5-13B-130

Purpose.

This division is intended generally to ensure that interstate state branches of out-of-state foreign banks may be established and operated in this state (1) to the extent consistent with the provisions of Section 5 of the Federal International Banking Act and (2) under terms and conditions that are generally comparable to and no less favorable than those applicable to the establishment of interstate federal branches in this state by out- of-state foreign banks.

(Acts 1995, No. 95-115, p. 134, §64.)