Section 5-1A-3

Use of words "bank," "banker," "banking," etc., restricted.

The use of the words "bank," "banker," "banking" or words of similar meaning in any foreign language as a designation or name, or as part of a designation or name, under which business is or may be conducted in the State of Alabama, or in its advertising is restricted to banking corporations organized under the laws of Alabama, other states, the United States or foreign countries. All other persons, firms, or corporations are prohibited from using the words "bank," "banker," or "banking" or words of similar meaning in any foreign language as a designation or name or as part of a designation or name under which business may be conducted in this state. Any violation of this prohibition shall subject the party chargeable therewith to a penalty of $100.00 for each day during which it is committed or repeated. Such penalty may be recovered by the superintendent by an action instituted for that purpose, and, in addition to said penalty, such violation may be enjoined and the injunction enforced as in other cases. This section shall not be applicable to any residents of this state regularly engaged in business in this state as individuals, partnerships, unincorporated associations or Alabama corporations now lawfully using such words in their trade or firm name.

(Acts 1980, No. 80-658, §5-1-3.)