CHAPTER 1 - FINANCIAL INSTITUTIONS
- ARTICLE 1 - PROVISIONS APPLICABLE TO DEPARTMENT OF BANKING AND FINANCE AND FINANCIAL INSTITUTIONS GENERALLY
- PART 1 - PURPOSES AND PRELIMINARY MATTERS
- PART 2 - ORGANIZATION AND PERSONNEL OF DEPARTMENT OF BANKING AND FINANCE
- PART 3 - OPERATIONS OF DEPARTMENT OF BANKING AND FINANCE
- PART 4 - PROCEEDINGS INVOLVING THE DEPARTMENT OF BANKING AND FINANCE
- PART 5 - PERMISSIVE CLOSING DAYS, EMERGENCY CLOSINGS, BUSINESS RESTRICTIONS, AND VOLUNTARY LIQUIDATIONS
- PART 6 - NAMES, REGISTERED OFFICES, AND ADVERTISING
- PART 7 - RECEIVERSHIP POWERS AND PROCEDURES GENERALLY
- PART 8 - CLAIMS, PRIORITIES, AND ACCOUNTING IN RECEIVERSHIPS
- PART 9 - RECEIVERSHIP PROCEDURES INVOLVING TRUST OR POOLED ASSETS
- PART 10 - CHANGE IN CONTROL OF FINANCIAL INSTITUTIONS
- PART 11 - COSTS ON JUDICIAL PROCESS
- PART 12 - DEPOSITS OF DECEASED DEPOSITORS
- PART 13 - BANK FEES
- ARTICLE 2 - BANKS AND TRUST COMPANIES
- PART 1 - GENERAL MATTERS
- PART 2 - GENERAL POWERS OF BANKS AND TRUST COMPANIES
- PART 3 - POWERS OF BANKS
- PART 4 - POWERS OF TRUST COMPANIES
- PART 4A - AFFILIATE TRANSFERS
- PART 5 - FIDUCIARY INVESTMENT COMPANIES
- PART 6 - DEPOSITS, SAFE-DEPOSIT AGREEMENTS, AND MONEY RECEIVED FOR TRANSMISSION
- PART 7 - BANKING DEPOSITORIES, RESERVES, AND REMISSIONS
- PART 8 - INCORPORATION OF BANKS AND TRUST COMPANIES
- PART 9 - FINANCIAL STRUCTURE
- PART 10 - SHAREHOLDERS
- PART 11 - DIVIDENDS, DISTRIBUTIONS, AND PREFERRED SHARE ACQUISITION
- PART 12 - MANAGEMENT
- PART 13 - AMENDMENT OF ARTICLES
- PART 14 - MERGER AND CONSOLIDATION OF STATE BANKS AND TRUST COMPANIES
- PART 15 - CONVERSIONS, MERGERS, AND CONSOLIDATIONS INVOLVING NATIONAL BANKS
- PART 16 - SALE AND OTHER DISPOSITION OF ASSETS
- PART 17 - REPRESENTATIVE OFFICES AND REGISTRATION
- PART 18 - BANK BRANCHES, OFFICES, FACILITIES, AND HOLDING COMPANIES
- PART 19 - INTERSTATE ACQUISITIONS OF BANKS AND BANK HOLDING COMPANIES
- PART 20 - INTERSTATE BANKING AND BRANCHING BY MERGER
- ARTICLE 3 - CREDIT UNIONS
- ARTICLE 4 - SALE OF CHECKS OR MONEY ORDERS
- § 7-1-680 - Definitions
- § 7-1-681 - License required
- § 7-1-682 - Qualifications of licensees; investments required; obtaining conviction data; background checks
- § 7-1-683 - License application; fee; bonding; alternative deposit of assets for check sellers
- § 7-1-684 - Investigation of applicants; granting of licenses; single license for issuer and subsidiary seller
- § 7-1-684.1 - Examination of books and records of licensee; fees; on-site examination; authority of commissioner; investigations; other powers of department; failure to respond to subpoena; confiden
- § 7-1-685 - Renewal of licenses; annual license fee
- § 7-1-686 - Notice of action or change in number of locations; effect on bond or security deposit
- § 7-1-687 - Agents of licensees
- § 7-1-687.1 - Required records for five-year period; form; location of records
- § 7-1-688 - Rules and regulations
- § 7-1-689 - Denial, suspension, and revocation of license or designation of agent
- § 7-1-689.1 - Cease and desist order for noncompliance; penalty; jurisdiction for judicial review; "person" defined; administrative penalties
- § 7-1-689.2 - Employment of persons subject to cease and desist orders
- § 7-1-690 - Assignment of claims to department for collection
- § 7-1-691 - Civil liability of licensee on checks
- § 7-1-692 - Prohibited transactions; timely transfer of funds
- ARTICLE 4A - CASHING CHECKS, DRAFTS, OR MONEY ORDERS FOR CONSIDERATION
- § 7-1-700 - Definitions
- § 7-1-701 - Licensure or registration; written application
- § 7-1-702 - Background investigation; effect of past convictions; conviction data; background checks; posting requirements; term of license or registration
- § 7-1-703 - License or registration renewal
- § 7-1-704 - Rules and regulations for enforcement of article; examination of books and records of licensee or registrant; confidentiality; liability
- § 7-1-705 - Notice to be posted by licensee or registrant; record-keeping requirements; check cashing procedures; prohibited advertising; procedure on notice of illegal act involving check
- § 7-1-706 - Check-cashing fees; limitation of fees
- § 7-1-707 - Suspension or revocation of license or registration
- § 7-1-707.1 - Suspension or denial of license to student borrowers in default and not in satisfactory repayment status
- § 7-1-707.2 - Denial of licensing or registration to applicants employing individuals subject to cease and desist orders
- § 7-1-707.3 - Operation of mobile check cashing facility
- § 7-1-708 - Violation of article
- § 7-1-709 - Applicability of article
- ARTICLE 5 - INTERNATIONAL BANKING CORPORATIONS AND BANK AGENCIES
- § 7-1-710 - Definitions
- § 7-1-711 - Application of this chapter
- § 7-1-712 - Application of Article 15 of Chapter 2 of Title 14
- § 7-1-713 - Requirements for carrying on banking business
- § 7-1-714 - Actions against international banking corporations
- § 7-1-715 - Application for license
- § 7-1-716 - Effect, renewal, and revocation of licenses; permissible activities
- § 7-1-717 - Securities, and other evidence of indebtedness to be held in this state
- § 7-1-718 - Financial certifications; restrictions on investments, loans, and acceptances
- § 7-1-719 - Reports
- § 7-1-720 - Dissolution
- § 7-1-721 - International representative offices
- ARTICLE 5A - DOMESTIC INTERNATIONAL BANKING FACILITIES
- § 7-1-730 - Short title
- § 7-1-731 - "Domestic international banking facility" defined
- § 7-1-732 - Eligibility to operate domestic international banks; registration required; records; exemption from taxes and license fees
- § 7-1-733 - Rejection or revocation of registration as a domestic international banking facility
- § 7-1-734 - Examination and supervision by the department; agreements with other bank regulatory authorities
- ARTICLE 6 - BUSINESS DEVELOPMENT CORPORATIONS
- § 7-1-740 - Definitions
- § 7-1-741 - Contents, execution, and presentation of articles
- § 7-1-742 - Action on articles by department; preconditions to doing business
- § 7-1-743 - Approval or disapproval of department
- § 7-1-744 - Filing of articles
- § 7-1-745 - Powers of corporation
- § 7-1-746 - Right to deal in corporation's stock or obligations
- § 7-1-747 - Applying for membership; loans by members
- § 7-1-748 - Duration of membership; withdrawal
- § 7-1-749 - Powers of shareholders and members; voting
- § 7-1-750 - Amendment of articles
- § 7-1-751 - Board of directors; officers and agents
- § 7-1-752 - Earned surplus; fiscal year
- § 7-1-753 - Deposit of corporate funds; corporation not to accept deposits
- § 7-1-754 - Supervision
- § 7-1-755 - First meeting and organization
- § 7-1-756 - Duration and dissolution of corporation
- § 7-1-757 - State credit not pledged
- § 7-1-758 - Tax exemptions; state and local occupational license taxes
- ARTICLE 7 - BUILDING AND LOAN ASSOCIATIONS AND SAVINGS AND LOAN ASSOCIATIONS
- § 7-1-770 - Definitions
- § 7-1-771 - Members of building and loan association; voting
- § 7-1-772 - Presentation, contents, and execution of articles of building and loan association
- § 7-1-773 - Approval or disapproval of articles of building and loan association by department
- § 7-1-774 - Approval of articles of building and loan association; renewals or amendments to existing charters
- § 7-1-775 - Filing and processing articles of incorporation and amendments for building and loan association
- § 7-1-776 - Certificate of incorporation or amendment issued by Secretary of State
- § 7-1-777 - Principal and branch offices
- § 7-1-778 - Rules and regulations governing building and loan associations
- § 7-1-779 - Use of "savings and loan," "building and loan," or other terms likely to mislead public as to nature of business
- § 7-1-780 - Lien on deposits to secure loans
- § 7-1-781 - Conversion into savings and loan association
- § 7-1-782 - Effect of conversion into savings and loan association
- § 7-1-783 - Previous conversions into savings and loan associations ratified
- § 7-1-784 - Conversion into building and loan association
- § 7-1-785 - Effect of conversion into building and loan association
- § 7-1-786 - Taxation
- § 7-1-787 - Exemption from securities regulations
- § 7-1-788 - Notaries and other officers not disqualified by interest in association; validation of prior instruments
- § 7-1-789 - Minors' deposits, safe-deposit boxes, and third-party payment accounts; validity of releases
- § 7-1-790 - Deposits of fiduciaries
- § 7-1-791 - Payment on death of depositor
- § 7-1-792 - Deposits applied to funeral expenses
- § 7-1-793 - Investment of funds in insured deposits
- § 7-1-794 - Deposits as security or in lieu of bond
- § 7-1-795 - Savings account books and certificates
- § 7-1-796 - Insanity, incompetency, bankruptcy, or death of depositor
- § 7-1-797 - Building and loan association deposit insurance requirements; public notices when deposits not properly insured
- ARTICLE 8 - MULTIPLE-PARTY ACCOUNTS
- § 7-1-810 - Definitions
- § 7-1-811 - Applicability of provisions as to beneficial ownership and protection of financial institutions
- § 7-1-812 - Ownership during lifetime
- § 7-1-813 - Rights of survivorship
- § 7-1-814 - Changing terms of account
- § 7-1-815 - Survivorship transfers nontestamentary
- § 7-1-816 - Financial institution protection -- Multiple-party accounts authorized; payment on signature of one party; inquiry as to deposits or withdrawals not required
- § 7-1-817 - Financial institution protection -- Payment from joint account after death or disability
- § 7-1-818 - Financial institution protection -- Payment of P.O.D. account
- § 7-1-819 - Financial institution protection -- Payment of trust account
- § 7-1-820 - Financial institution protection -- Discharge upon proper payment; notice not to permit withdrawals
- § 7-1-821 - Financial institution protection -- Right to setoff
- ARTICLE 9 - CRIMINAL AND RELATED PROVISIONS
- § 7-1-840 - Institution of criminal prosecutions; assistance to state and federal law enforcement agencies; providing information to financial institutions considering employment of suspected person
- § 7-1-841 - Applicability of Title 16
- § 7-1-842 - Felonies of directors, officers, agents, and employees of financial institutions; aiding and abetting false entries
- § 7-1-843 - Certain misdemeanors of directors, officers, agents, and employees of financial institutions
- § 7-1-844 - Other misdemeanors of directors, officers, agents, and employees of financial institutions
- § 7-1-845 - Miscellaneous felonies; when punished as misdemeanors
- § 7-1-846 - Punishment for misdemeanor violations
- ARTICLE 10 - TRANSITION PROVISIONS; FEES OF SECRETARY OF STATE
- ARTICLE 11 - RECORDS AND REPORTS OF CURRENCY TRANSACTIONS
- § 7-1-910 - Purpose
- § 7-1-911 - Definitions
- § 7-1-912 - Records and reports of certain currency transactions; regulations; commissioner's authority under Code Section 7-1-64; prohibited acts; definitions
- § 7-1-913 - Access to reports
- § 7-1-914 - Civil penalties; action for recovery; penalty
- § 7-1-915 - Criminal penalties; penalties imposed by other Code sections not superseded
- § 7-1-916 - Forfeiture of property involved in illegal transactions
- ARTICLE 12 - SMALL MINORITY BUSINESS DEVELOPMENT CORPORATIONS
- § 7-1-940 - Definitions
- § 7-1-941 - Creation of corporations; contents of articles of incorporation; subscription and acknowledgment
- § 7-1-942 - Approval of articles by department
- § 7-1-943 - Standards for approval of articles by department; timing
- § 7-1-944 - Filing departmental approval with Secretary of State
- § 7-1-945 - Corporate powers
- § 7-1-946 - Bond and stock holding authority; member loans to corporation not discriminatory
- § 7-1-947 - Application for membership; requirements for loans to corporation; member loan limits
- § 7-1-948 - Duration of membership; withdrawal
- § 7-1-949 - Powers of shareholders and members
- § 7-1-950 - Amendment of articles
- § 7-1-951 - Board of directors; officers and agents
- § 7-1-952 - Setting apart net earnings; fiscal year
- § 7-1-953 - Deposit of corporate funds
- § 7-1-954 - Departmental power over corporations
- § 7-1-955 - First meeting
- § 7-1-956 - Duration of corporation; dissolution
- § 7-1-957 - State indebtedness not to be created
- § 7-1-958 - Tax exemptions, credits, and privileges; occupational license taxes
- ARTICLE 13 - LICENSING OF MORTGAGE LENDERS AND MORTGAGE BROKERS
- § 7-1-1000 - Definitions
- § 7-1-1001 - Exemption for certain persons and entities; registration requirements
- § 7-1-1001.1 - Requirement for mortgage loan originator license; application to sellers of mobile homes
- § 7-1-1002 - Transaction of business without a license, registration, or exemption prohibited; knowing purchase of mortgage loan from unlicensed or nonexempt broker or lender prohibited; liability o
- § 7-1-1003 - Applications for licenses
- § 7-1-1003.1 - Physical place of business
- § 7-1-1003.2 - Financial requirements for licensing and registration; bond requirements
- § 7-1-1003.3 - Application for registration
- § 7-1-1003.4 - Notification statement
- § 7-1-1003.5 - Uniform multistate administration of automated licensing system for mortgage loan originators, mortgage brokers, and mortgage lenders
- § 7-1-1003.6 - Privileged or confidential nature of information; exception
- § 7-1-1003.7 - Approval of mortgage industry related courses; application; renewal applications; audits
- § 7-1-1004 - Investigation of applicant and its officers; audit; education, experience, and other requirements relative to licensees and registrants
- § 7-1-1004.1 - Reports of condition
- § 7-1-1004.2 - Licensees' ability to challenge information
- § 7-1-1004.3 - Visibility requirement for unique identifier of individuals originating residential mortgage loan
- § 7-1-1005 - Renewal of licenses and registrations; expiration
- § 7-1-1006 - Contents of license; posting of license; transferring of license; transacting business under other name; change of address; opening a new additional office without prior approval; appro
- § 7-1-1007 - Licensee to give notice of certain actions brought against it by a creditor or borrower; notice to the department of cancellation of bond
- § 7-1-1008 - Acquisition of 10 percent or more of the voting shares or of the ownership of any other entity licensed to conduct business under this article
- § 7-1-1009 - Maintenance of books, accounts, and records; investigation and examination of licensees and registrants by department; confidentiality; exemptions from civil liability
- § 7-1-1010 - Annual financial statements
- § 7-1-1011 - Annual fees
- § 7-1-1012 - Rules and regulations
- § 7-1-1013 - Prohibition of certain acts
- § 7-1-1014 - Regulations governing disclosure required to applicants for mortgage loans
- § 7-1-1015 - Rules relative to escrow accounts
- § 7-1-1016 - Regulations relative to advertising
- § 7-1-1017 - Suspension or revocation of licenses, registrations, or mortgage broker education approval; notice; judicial review; effect on preexisting contract
- § 7-1-1018 - Cease and desist orders; enforcement procedure; civil penalty; fines
- § 7-1-1019 - Criminal penalties
- § 7-1-1020 - Construction
- § 7-1-1021 - Regulations governing lock-in and commitment agreements