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25-4-10
Section 25-4-10 Employment. (a) Subject to other provisions of this chapter, "employment"
means: (1) Any service performed prior to January 1, 1978, which was employment as defined
in this section prior to such date and, subject to the other provisions of this section, services
performed for remuneration after December 31, 1977, including service in interstate commerce,
by: a. Any officer of a corporation; or b. Any individual who, under the usual common law
rules applicable in determining the employer-employee relationship, has the status of an employee;
or c. Any individual other than an individual who is an employee under paragraphs a. or b.
of this subdivision (1) who performs services for remuneration for any person: 1. As an agent-driver
or commission-driver engaged in distributing meat products, bakery products, beverages (other
than milk) or laundry or dry cleaning services for a principal; 2. As a traveling or city
salesman engaged upon a full-time basis in the solicitation on...
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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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-9B-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...
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10A-10-1.09
Section 10A-10-1.09 Powers. A real estate investment trust has the power to: (1) Unless the
declaration of trust provides otherwise, have perpetual existence unaffected by any rule against
perpetuities. (2) Sue, be sued, complain, and defend in all courts. (3) Transact its business,
carry on its operations, and exercise the powers granted by this chapter in any state, territory,
district, or possession of the United States and in any foreign country. (4) Make contracts,
incur liabilities, and borrow money. (5) Sell, mortgage, lease, pledge, exchange, convey,
transfer, and otherwise dispose of all or any part of its assets. (6) Issue bonds, notes,
and other obligations, and secure them by mortgage or deed of trust of all or any part of
its assets. (7) Subject to Section 10A-10-1.10, acquire by purchase, or in any other manner,
take, receive, own, hold, use, employ, improve, encumber, and otherwise deal with any interest
in real and personal property, wherever located. (8) Purchase,...
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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
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)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-3A-401.htm - 2K - Match Info - Similar pages
10A-16-1.03
Section 10A-16-1.03 Powers and liabilities of trustees; liability of trust for acts of trustees.
The trustees shall hold the legal title to all property at any time belonging to the business
trust. They shall have control over the property as well as the control and management of
the business and affairs of the business trust. Liability to third persons for any act, omission,
or obligation of a trustee of a business trust, when acting in such capacity, shall extend
to the whole of the trust estate, or so much thereof as may be necessary to discharge such
obligation, but no trustee shall be personally liable for any such act, omission, or obligation.
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 by the provisions of Article 6 of Chapter 3 of Title 19 or otherwise.
(Acts 1961, Ex. Sess., No. 251, p. 2263, §3; §19-3-62; amended...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-16-1.03.htm - 1K - Match Info - Similar pages
22-21-241
Section 22-21-241 Powers and liabilities of trustees of trusts. The trustees of trusts established
pursuant to Section 22-21-240 shall hold the legal title to all property at any time belonging
to the trust. They shall have control over such property as well as the control and management
of the business and affairs of the trust. Liability to third persons for any act, omission
or obligation of a trustee of a trust, when acting in such capacity, shall extend to the whole
of the trust estate or so much thereof as may be necessary to discharge such obligation, but
no trustee shall be personally liable for any such act, omission or obligation. The trustees
shall have such powers as to the investment of the trust estate as may be set out in the declaration
of trust; provided, however, that the investments of the trust shall be limited to the same
type, kind and quality as those required of a domestic casualty insurer. Without limiting
the generality of the foregoing, the trustees shall have...
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40-15B-3
Section 40-15B-3 Apportionment by will or other dispositive instrument. (a) Except as otherwise
provided in subsection (c), the following rules apply: (1) To the extent that a provision
of a decedent's will expressly and unambiguously directs the apportionment of an estate tax,
the tax must be apportioned accordingly. (2) Any portion of an estate tax not apportioned
pursuant to paragraph (1) must be apportioned in accordance with any provision of a revocable
trust of which the decedent was the settlor which expressly and unambiguously directs the
apportionment of an estate tax. If conflicting apportionment provisions appear in two or more
revocable trust instruments, the provision in the most recently dated instrument prevails.
For purposes of this paragraph: (A) a trust is revocable if it was revocable immediately after
the trust instrument was executed, even if the trust subsequently becomes irrevocable; and
(B) the date of an amendment to a revocable trust instrument is the date of...
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35-8A-316
Section 35-8A-316 Lien for assessments. (a) The association has a lien on a unit for any assessment
and any other moneys due the association for special assessments or services or charges, such
as water or repairs, levied against that unit or fines imposed against its unit owner from
the time the assessment or fine becomes due. The association's lien may be foreclosed in like
manner as a mortgage on real estate provided the declaration is in conformity with Article
1A of Chapter 10 of this title and subject to the rights under Article 14A of Chapter 5 of
Title 6. The association shall send reasonable advance notice of its proposed action to the
unit owner and all lienholders of record of the unit. Unless the declaration otherwise provides,
fees, charges, late charges, fines, and interest charged pursuant to Section 35-8A-302(a)(10),
(11), and (12) are enforceable as assessments under this section. If an assessment is payable
in installments, the full amount of the assessment is a lien...
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