16-60-91
Section 16-60-91 Execution, form, terms, sale, etc., of bonds; use of proceeds; security;
bonds legal investments. The bonds of the authority shall be signed by its president and attested
by its secretary and the seal of the authority shall be affixed thereto, and any interest
coupons applicable to such bonds shall be signed by the president; provided, that a facsimile
of the signature of one, but not both, of said officers may be printed or otherwise reproduced
on any such bonds in lieu of his signing the same, a facsimile of the seal of the authority
may be printed or otherwise reproduced on any such bonds in lieu of being manually affixed
thereto and a facsimile of the president's signature may be printed or otherwise reproduced
on any such interest coupons in lieu of his signing the same. Any bonds of the authority may
be executed and delivered by it at any time and from time to time, shall be in such form and
denominations and of such tenor and maturities, shall bear such rate or...
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23-1-157
Section 23-1-157 Bonds - Generally. (a) The bonds of the corporation shall be signed
by its president or vice president and attested by its secretary; provided, that a facsimile
of the signature of the officers may be imprinted or otherwise reproduced on any such bonds
in lieu of his or her signing the same. The seal of the corporation shall be affixed to such
bonds; provided, that a facsimile of the seal may be imprinted or otherwise reproduced on
any such bonds in lieu of being manually affixed thereon. (b) Any bonds of the corporation
may be executed and delivered at any time and from time to time, shall be in such form and
denominations and of such tenor and maturities, shall bear such rate or rates of interest
payable and evidenced in such manner, may contain provisions for redemption prior to maturity
and may contain other provisions not inconsistent with this article, all as may be provided
by the resolution of the board of directors whereunder such bonds are authorized to be...

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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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22-21-318
Section 22-21-318 Powers of authority. (a) In addition to all other powers granted elsewhere
in this article, and subject to the express provisions of its certificate of incorporation,
an authority shall have the following powers, together with all powers incidental thereto
or necessary to the discharge thereof in corporate form: (1) To have succession by its corporate
name for the duration of time, which may be in perpetuity, specified in its certificate of
incorporation or until dissolved as provided in Section 22-21-339; (2) To sue and be
sued in its own name in civil suits and actions, and to defend suits and actions against it,
including suits and actions ex delicto and ex contractu, subject, however, to the provisions
of Chapter 93 of Title 11, which chapter is hereby made applicable to the authority; (3) To
adopt and make use of a corporate seal and to alter the same at pleasure; (4) To adopt, alter,
amend and repeal bylaws, regulations and rules, not inconsistent with the...
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37-11A-1
Section 37-11A-1 Execution and text of compact. The Governor, on behalf of this state,
shall execute a compact, in substantially the following form, with the State of Mississippi,
and the Legislature approves and ratifies the compact in the form substantially as follows:
Northeast Mississippi - Northwest Alabama Railroad Authority Compact. The contracting states
solemnly agree: Article I. The purpose of this compact is to promote and develop trade, commerce,
industry, and employment opportunities for the public good and welfare in northeast Mississippi
and northwest Alabama through the establishment of a joint interstate authority to acquire
certain railroad properties and facilities which the operator thereof has notified the Interstate
Commerce Commission of an intention to abandon and which are located in any of Franklin, Marion,
or Winston Counties, Alabama or in Alcorn or Tishomingo Counties, Mississippi. Article II.
This compact shall become effective immediately as to the State...
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40-16-10
Section 40-16-10 Computation of net income of financial institutions. (a) In computing
the net income of financial institutions subject to the tax imposed by this chapter, there
shall be allowed, in addition to the deductions specified therein, a deduction for the sum
of the net operating losses which may be carried forward to the taxable year for which the
net income of the financial institution is being computed. (1) The term "net operating
loss" for the purposes of this chapter means the amount by which net income of the financial
institution, before the deduction allowed by this section, with respect to a taxable
year is less than zero. For purposes of this section, the financial institution's net
income shall be determined under this chapter applicable to the year in which the net operating
loss arises. (2) A net operating loss shall be carried forward to the earliest subsequent
taxable year in which the financial institution has net income greater than zero, determined
without...
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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-10-1.11
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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40-18-24
Section 40-18-24 Taxation of subchapter K entity. (a) The amount of income, deduction,
gain, loss, or credit includable or deductible by an owner of an interest in a subchapter
K entity shall be determined in accordance with subchapter K of the Internal Revenue Code,
26 U.S.C. §§ 701-761. (b) For purposes of computing its net income, a subchapter K entity
shall add back otherwise deductible interest expenses and costs and intangible expenses and
costs directly or indirectly paid, accrued or incurred to, or in connection directly or indirectly
with, one or more direct or indirect transactions, with one or more related members, except
to the extent the subchapter K entity shows, upon request by the commissioner, that the corresponding
item of income was in the same taxable year: (1) subject to a tax based on or measured by
the related member's net income in Alabama or any other state of the United States, or (2)
subject to a tax based on or measured by the related member's net income...
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40-18-35.1
Section 40-18-35.1 Carry forward of net operating losses. In computing the taxable income
of corporations subject to income tax as outlined in Section 40-18-35, there shall
be allowed, in addition to the deductions specified therein, a deduction for the sum of the
net operating losses which may be carried forward to the taxable year for which the net income
of the corporation is being computed. (1) The term "net operating loss" for the
purposes of this section means the excess of the deductions (other than the deduction
allowed by this subdivision) allowed by this chapter during a taxable year of the corporation
over the corporation's gross income during that taxable year. For purposes of this paragraph,
the corporation's gross income and allowable deductions shall be determined under the provisions
of this chapter applicable to the year in which the net operating loss arises. (2) A net operating
loss shall be carried forward to the earliest subsequent taxable year in which the...
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