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40-18-1
Section 40-18-1 Definitions. For the purpose of this chapter, the following terms shall have
the respective meanings ascribed by this section: (1) ADVANCED FOSSIL-BASED GENERATION. The
production of electricity from fossil-based generation with the use of technology or efficiency
improvements to control or reduce carbon emissions, including but not limited to, technologies
described in 26 U.S.C. § 48A(f), as such provision existed on December 31, 2007. (2) ALTERNATIVE
ENERGY RESOURCES. Coal gasification or liquefaction, nuclear, and advanced fossil-based generation.
(3) BIOMASS. Animals and plants, and the waste, by-products, or derivatives of either, including,
but not limited to, the materials described in 26 U.S.C. §§ 45(c)(2), 45(c)(3), 45K(c)(3),
or 48B(c)(4). (4) BUSINESS TRUST. Any entity which is a business trust for federal income
tax purposes. (5) CAPTIVE REIT. Any REIT whose shares or certificates of beneficial interest
are not regularly traded on an established...
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40-9B-3
Section 40-9B-3 Definitions. (a) For purposes of this chapter, the following words and phrases
mean: (1) ABATE, ABATEMENT. A reduction or elimination of a taxpayer's liability for tax or
payments required to be made in lieu thereof. An abatement of transaction taxes imposed under
Chapter 23 of this title, or payments required to be made in lieu thereof, shall relieve the
seller from the obligation to collect and pay over the transaction tax as if the sale were
to a person exempt, to the extent of the abatement, from the transaction tax. (2) ALTERNATIVE
ENERGY RESOURCES. The definition given in Section 40-18-1. (3) CONSTRUCTION RELATED TRANSACTION
TAXES. The transaction taxes imposed by Chapter 23 of this title, or payments required to
be made in lieu thereof, on tangible personal property and taxable services incorporated into
an industrial development property, the cost of which may be added to capital account with
respect to the property, determined without regard to any rule which...
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45-2-245.20
Section 45-2-245.20 Trust fund established; administration. (a) Any laws or parts of laws to
the contrary notwithstanding, any annual privilege tax levied upon persons engaging in the
business of producing or severing oil or gas or other hydrocarbons from the soil or waters
of Baldwin County measured by the gross value of such oil or gas or other hydrocarbons and
which tax is applicable only in Baldwin County and under which collections were being made
on January 1, 1987, shall be continued and collected only as herein prescribed. (1) All revenues
collected from such local severance taxes, shall, beginning the first day of the month following
May 19, 1989, be paid into the general fund of the county exclusively for transfer and deposit
into the trust fund hereby established until the total sum of fifteen million dollars ($15,000,000)
in severance tax revenues of the type described in this section, excluding any interest income
on amounts deposited therein from such total sum, has been...
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40-23-4
Section 40-23-4 Exemptions. (a) There are exempted from the provisions of this division and
from the computation of the amount of the tax levied, assessed, or payable under this division
the following: (1) The gross proceeds of the sales of lubricating oil and gasoline as defined
in Sections 40-17-30 and 40-17-170 and the gross proceeds from those sales of lubricating
oil destined for out-of-state use which are transacted in a manner whereby an out-of-state
purchaser takes delivery of such oil at a distributor's plant within this state and transports
it out-of-state, which are otherwise taxed. (2) The gross proceeds of the sale, or sales,
of fertilizer when used for agricultural purposes. The word "fertilizer" shall not
be construed to include cottonseed meal, when not in combination with other materials. (3)
The gross proceeds of the sale, or sales, of seeds for planting purposes and baby chicks and
poults. Nothing herein shall be construed to exempt or exclude from the computation of...
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11-99A-2
Section 11-99A-2 Definitions. In this chapter the following words shall have the following
meanings: (1) APPOINTING GOVERNMENT. The municipality or county that approves the creation
of a district and appoints members to the board. (2) BOARD. The board of directors of a district.
(3) CONTIGUOUS. Two tracts of land if touching for a continuous distance of not less than
200 feet. The term includes tracts of land divided by bodies of water, streets, railroad,
or utility rights-of-way, or by land owned by any public person. In determining whether land
is contiguous with a municipality, (i) land separated by bodies of water, streets, or railroad,
or utility rights-of-way is contiguous even though the bodies of water, streets, or rights-of-way
are within the city limits of another municipality and (ii) land separated by land owned by
a public person is not contiguous if the land owned by the public person is within the city
limits of another municipality. (4) COUNCIL. The governing body of a...
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10A-10-1.16
Section 10A-10-1.16 Dissolution. (a) A real estate investment trust may terminate its existence
by voluntary dissolution and wind up its business and affairs in the manner and on the grounds
provided in the Alabama Business Corporation Law. (b) A real estate investment trust may curtail
or cease its trust activities by partially or completely distributing its assets. (c)(1) The
Attorney General may institute proceedings to dissolve a real estate investment trust which
has abused, misused, or failed to use its powers. The proceedings shall be brought in the
manner and on the grounds provided in the Alabama Business Corporation Law, with respect to
judicial dissolution of a corporation. (2) The venue of an action under this subsection is
in a county where an officer or resident agent of the real estate investment trust is located.
(Acts 1995, No. 95-628, p. 1317, §16; §10-13-16; amended and renumbered by Act 2009-513,
p. 967, §308; Act 2019-94, §2.)...
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10A-10-1.05
Section 10A-10-1.05 Compliance required. A real estate investment trust may not do business
in the state until it complies with this chapter and, in the case of a foreign real estate
investment trust, with Article 7 of Chapter 1. (Acts 1995, No. 95-628, p. 1317, §5; §10-13-5;
amended and renumbered by Act 2009-513, p. 967, §308.)...
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10A-10-1.10
Section 10A-10-1.10 Provisions on investments and use. (a) A real estate investment trust shall
hold, either directly or through other entities, assets of such character, in such percentages,
and for such uses as permitted by Sections 856 to 860, inclusive, of the Internal Revenue
Code, as amended from time to time. (b) Except as provided in subsection (a), the trustees
shall have the powers as to the investment of the trust estate as may be set out in the declaration
of trust without regard to the type of investments to which trustees generally are restricted.
(Acts 1995, No. 95-628, p. 1317, §10; §10-13-10; amended and renumbered by Act 2009-513,
p. 967, §308.)...
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10A-10-1.19
Section 10A-10-1.19 Liability of trustee. (a) Subject to the provisions of subsection (b),
a trustee of a real estate investment trust is not personally liable for the obligations of
the real estate investment trust. (b) If a trustee otherwise would be liable, the provisions
of this subsection do not relieve the trustee from any liability to the trust or its security
holders for any act that constitutes: (1) Bad faith. (2) Willful misfeasance. (3) Gross negligence.
(4) Reckless disregard of the trustee's duties. (c)(1) Except as provided in subdivision (2),
the declaration of trust of a real estate investment trust may include any provision expanding
or limiting the liability of its trustees and officers to the trust or its shareholders for
money damages. (2) The declaration of trust of a real estate investment trust may not include
any provision that restricts or limits the liability of its trustees or officers to the trust
or its shareholders: a. To the extent that it is proven that...
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10A-17-1.01
Section 10A-17-1.01 Short title. This chapter together with applicable provisions of Chapter
1 may be cited as the Alabama Unincorporated Nonprofit Association Law. (Acts 1995, No. 95-527,
p. 1064, §1; §10-3B-1; amended and renumbered by Act 2009-513, p. 967, §320.)...
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