2006 Alabama Code - Section 5-3A-3 — Disclosure of information obtained by superintendent, bank examiners, etc.

(a) Neither the superintendent, any member of the State Banking Board, nor any bank examiner or other state employee shall disclose the condition and affairs of any bank ascertained by an examination of such bank or report or give information as to persons who are depositors or debtors of a bank, except as authorized or required by law; provided, that this section shall not be construed to prevent bank examiners and other employees from reporting such information to the superintendent or such persons as he may lawfully designate.

(b) Notwithstanding the provisions of subsection (a) of this section, the superintendent, at his discretion, may disclose any such information to the members of the State Banking Board and confer with the members of such board regarding the same.

(c) The superintendent may furnish to the Federal Reserve, Federal Deposit Insurance Corporation, the Comptroller of the Currency or to any successor banking supervisory agency of the United States reports of examination and other data as the superintendent deems advisable.

(d) The superintendent may also furnish copies of his reports of examination and any other information to the board of directors of the bank which was examined and to any bank holding company owning more than 50 percent of the capital stock of such bank.

(e) Any reports or information furnished or disclosed under subsection (a), (b), (c), or (d) of this section shall remain the property of the Banking Department and may not be disclosed to any person other than the officers, directors, attorneys and auditors of such bank or bank holding company.

(f) Any person violating this section shall be guilty of a misdemeanor.

(Acts 1980, No. 80-658, §5-3-3.)