Section 5-13B-11

Authority to issue regulations; cooperative agreements; fees.

In order to carry out the purposes of this article, the superintendent may:

(1) Adopt regulations;

(2) Enter into cooperative, coordinating, or information-sharing agreements with any other bank supervisory agency or any organization affiliated with or representing one or more bank supervisory agencies;

(3) Accept any report of examination or investigation by another bank supervisory agency having concurrent jurisdiction over an Alabama state bank or a bank holding company that controls an Alabama state bank in lieu of conducting the superintendent's own examination or investigation of such bank holding company or bank;

(4) Enter into contracts with any bank supervisory agency having concurrent jurisdiction over an Alabama state bank or a bank holding company that controls an Alabama state bank to engage the services of the agency's examiners at a reasonable rate of compensation, or to provide the services of the superintendent's examiners to the agency at a reasonable rate of compensation; which contract shall be deemed a sole source, one vendor and one supplier contract under the procurement laws of this state and shall be exempt from competitive bidding requirements;

(5) Enter into joint examinations or joint enforcement actions with any other bank supervisory agency having concurrent jurisdiction over any Alabama state bank or any bank holding company that controls an Alabama state bank; provided, however, that the superintendent may take any such action independently, except with respect to the examination of an out-of-state bank holding company, if the superintendent determines that such action is necessary to carry out his or her responsibilities under this article or to enforce compliance with the laws of this state; and provided further, that in the case of an out-of-state bank holding company, the superintendent shall recognize the exclusive authority of the home state regulator over corporate governance matters and the primary responsibility of the home state regulator with respect to safety and soundness matters; and

(6) Assess supervisory and examination fees that shall be payable by Alabama banks and Alabama bank holding companies in connection with the superintendent's performance of his or her duties under this article and in accordance with regulations adopted by the superintendent. Such fees may be shared with other bank supervisory agencies or any organizations affiliated with or representing one or more bank supervisory agencies in accordance with agreements between them and the superintendent.

(Acts 1995, No. 95-115, p. 134, §11.)