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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10-13-23
Section 10-13-23 Treatment of corporate real estate investment trust. All provisions of Title
10 have been repealed or transferred to Title 10A, effective January 1, 2011. (Acts 1995,
No. 95-628, p. 1317, §23.)...
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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-10-1.16
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-10-1.11
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-10-1.13
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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10A-10-1.14
Section 10A-10-1.14 Amendment of declaration. (a) Except as provided in subsection (c) of Section
10A-10-1.06 or subdivision (7) of subsection (a) of Section 10A-10-1.07, a declaration of
trust may be amended only as provided in this section. (b) The board of trustees of a real
estate investment trust proposing an amendment to its declaration of trust shall: (1) Adopt
a resolution which sets forth the proposed amendment and declares that it is advisable. (2)
Direct that the proposed amendment be submitted for consideration at either an annual or special
meeting of the shareholders. (c) Notice which states that a purpose of the meeting will be
to act upon the proposed amendment shall be given by the real estate investment trust in the
manner provided in the declaration of trust or bylaws to: (1) Each shareholder entitled to
vote on the proposed amendment. (2) Each shareholder not entitled to vote on the proposed
amendment if the contract rights of the shareholder's shares, as expressly...
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10A-1-3.41
Section 10A-1-3.41 Certificated or uncertificated ownership interest. (a) Ownership interests
in a domestic entity may be certificated or uncertificated. (b) The ownership interests in
a business corporation, real estate investment trust, or professional corporation must be
certificated unless the governing documents of the entity or a resolution adopted by the governing
authority of the entity states that the ownership interests are uncertificated. If a domestic
entity changes the form of its ownership interests from certificated to uncertificated, a
certificated ownership interest subject to the change becomes an uncertificated ownership
interest only after the certificate is surrendered to the domestic entity. (c) Ownership interests
in a domestic entity, other than a domestic entity described in subsection (b), are uncertificated
unless this title or the governing documents of the domestic entity state that the interests
are certificated. (d) Unless an entity's chapter specifically...
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27-3-30
Section 27-3-30 Foreign insurer may become domestic insurer; method; certificate and license
eligibility; authority and jurisdiction of state; continuation of corporate existence and
date of incorporation. Any insurer which is organized under the laws of any other state and
is admitted to do business in this state for the purpose of writing insurance may become a
domestic insurer by complying with all of the requirements of law relative to the organization
and licensing of a domestic insurer of the same type and by designating its principal place
of business at a place in this state. Said domestic insurer will be entitled to like certificates
and licenses to transact business in this state and shall be subject to the authority and
jurisdiction of this state. Articles of incorporation of such domestic insurer may be amended
to provide that the corporation is a continuation of the corporate existence of the original
foreign corporation through adoption of this state as its corporate...
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10A-10-1.03
Section 10A-10-1.03 Permitted form of unincorporated trust or association. A real estate investment
trust is a permitted form of unincorporated trust or association, and may conduct business
in the state in accordance with this chapter and with Chapter 1. (Acts 1995, No. 95-628, p.
1317, §3; §10-13-3; amended and renumbered by Act 2009-513, p. 967, §308.)...
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