27-17A-2
Section 27-17A-2 Definitions. As used in this chapter, the following terms shall have the following meanings: (1) ALTERNATIVE CONTAINER. A nonmetal receptacle or enclosure, without ornamentation or a fixed interior lining, which is designed for the encasement of human remains and which is made of cardboard, pressed-wood, composition materials (with or without an outside covering), or pouches of canvas or other materials. (2) ARRANGEMENT CONFERENCE. The meeting occurring either at need or preneed between the seller and the purchaser during which funeral or cemetery merchandise and services are discussed. (3) ARRANGEMENT CONFERENCE FEE. The charge to the purchaser in conjunction with the arrangement conference. (4) AT NEED. At the time of death, or immediately following death. (5) AUTHORIZING AGENT. One who is lawfully authorized to control the final disposition of human remains. (6) BELOW-GROUND CRYPT. A preplaced enclosed chamber, which is usually constructed of reinforced concrete,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-17A-2.htm - 12K - Match Info - Similar pages
40-29-22
Section 40-29-22 Lien for taxes - Validity and priority against certain persons. (a) Purchasers, holders of security interests, mechanic's lienors, and judgment lien creditors. The lien imposed by Section 40-29-20 shall not be valid as against any purchaser, holder of a security interest, mechanic's lienor, or judgment lien creditor until notice thereof which meets the requirements of subsection (f) has been filed by the Commissioner of Revenue or his delegate, and shall not be perfected as against any purchaser, holder of a security interest, mechanic's lienor, or judgment lien creditor until the date such notice is filed. (b) Protection for certain interest even though notice filed. Even though notice of a lien imposed by Section 40-29-20 has been filed, such lien shall not be valid: (1) SECURITIES. With respect to a security (as defined in subsection (g)(4)): a. As against a purchaser of such security who at the time of purchase did not have actual notice or knowledge of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-29-22.htm - 17K - Match Info - Similar pages
37-6-3
Section 37-6-3 Enumerated powers. A cooperative shall have the power: (1) To sue and be sued in its corporate name. (2) To adopt a corporate seal and alter the same at its pleasure. (3) To generate, manufacture, purchase, acquire and transmit electric energy and to distribute, sell, supply and dispose of electric energy to its members, to governmental agencies and political subdivisions and to other persons; provided, however, that should a cooperative acquire any electric facilities dedicated or devoted to the public use, it may continue to serve the persons served directly from such facilities at the time of such acquisition without requiring that such persons become members, and, provided further, that such nonmembers shall have the right to become members upon nondiscriminatory terms. Cooperatives may not condition membership or provision of service on compliance by the member with requirements not directly related to the electric or other service to be provided by the cooperative....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-6-3.htm - 19K - Match Info - Similar pages
10A-10-1.06
Section 10A-10-1.06 Declaration of trust. (a) A real estate investment trust organized under this chapter shall file its declaration of trust in the same manner as the certificate of formation of an Alabama domestic filing entity and shall be subject in all respects to the provisions of Article 4 of Chapter 1, governing filing of documents except as those provisions may be inconsistent with the provisions of this chapter. (b) The declaration of trust shall: (1) Indicate clearly that the trust is a real estate investment trust. (2) State the name of the trust. (3) State the total number of shares that the real estate investment trust has authority to issue. (4) Provide for an annual meeting of shareholders after the delivery of the annual report, at a convenient location and on proper notice. (5) Provide for the election of trustees at least every third year at an annual meeting of shareholders. (6) State the number of trustees and the names of those persons who will serve as trustees...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-10-1.06.htm - 2K - Match Info - Similar pages
10A-10-1.11
Section 10A-10-1.11 Annual report. (a) Each year, a real estate investment trust doing business in this state shall prepare an annual report of its operations. The report shall include a balance sheet, an income statement, and a surplus statement. (b) The financial statements in the annual report shall be certified by an independent certified public accountant based on the accountant's full examination of the books and records of the real estate investment trust in accordance with generally accepted auditing procedures. (c) The annual report shall be submitted to shareholders at or before the annual meeting of shareholders. (d) A real estate investment trust shall mail the annual financial statements to each shareholder within 120 days after the close of each fiscal year. Thereafter, on written request from a shareholder who was not mailed the statements, the real estate investment trust shall mail to him or her the latest financial statements. (Acts 1995, No. 95-628, p. 1317, §11;...
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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.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-10-1.16.htm - 1K - Match Info - Similar pages
10A-10-1.21
Section 10A-10-1.21 Income tax. (a) A real estate investment trust shall be subject to the tax imposed by Section 40-18-31, provided, that for purposes of Section 40-18-33, the "net income" of a real estate investment trust shall mean "real estate investment trust taxable income" as defined in 26 U.S.C. Section 857 as in effect from time to time. (b) Solely for purposes of conforming federal law with Alabama law, the "net income" of a real estate investment trust determined pursuant to subsection (a) shall be further adjusted as follows: (1) The deduction for intercorporate dividends received under Section 40-18-35(a) (7), shall not be allowed. (2) The deduction for dividends paid, as defined in 26 U.S.C. Section 561, shall be allowed but (i) shall be computed without regard to that portion of the deduction which is attributable to the amount equal to the net income from foreclosure property as defined in 26 U.S.C. Section 857, and (ii) shall be limited by the provisions of Section...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-10-1.21.htm - 3K - Match Info - Similar pages
10A-10-1.07
Section 10A-10-1.07 Classification of shares. (a) A real estate investment trust may provide by its declaration of trust any of the following: (1) That any specified class of shares is preferred over another class as to its distributive share of the assets on voluntary or involuntary liquidation of the real estate investment trust and the amount of the preference. (2) That any specified class of shares may be redeemed at the option of the real estate investment trust or of the holders of the shares and the terms and conditions of redemption, including the time and price of redemption. (3) That any specified class of shares is convertible into shares of one or more classes and the terms and conditions of conversion. (4) That the holders of any specified securities issued or to be issued by the real estate investment trust have any voting or other rights which, by law, are or may be conferred on shareholders. (5) For any other preferences, rights, restrictions, including restrictions on...
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10A-10-1.13
Section 10A-10-1.13 Filing fees. (a) A real estate investment trust shall pay the filing fees required under Section 10A-1-4.31. (b) In computing fees under this section, a real estate investment trust shall treat its declaration of trust in the same manner as a certificate of formation. (Acts 1995, No. 95-628, p. 1317, §13; §10-13-13; amended and renumbered by Act 2009-513, p. 967, §308.)...
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19-3A-401
Section 19-3A-401 Character of receipts. (a) For purposes of this section, "entity" means a corporation, partnership, limited liability company, regulated investment company, real estate investment trust, common trust fund, or any other organization in which a fiduciary has an interest other than (1) a trust or decedent's estate to which Section 19-3A-402 applies, (2) a business or activity to which Section 19-3A-403 applies, or (3) an asset-backed security to which Section 19-3A-415 applies. (b) Except as otherwise provided in this section, a fiduciary shall allocate to income money received from an entity. (c) A fiduciary shall allocate the following receipts from an entity to principal: (1) Property other than money except in cases when the fiduciary has the choice to receive dividends or similar payments either in cash or in the shares or similar ownership interests of the corporation or other business entity, in which case, the fiduciary shall allocate the receipts to income; (2)...
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