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10-13-2
Section 10-13-2 Definitions. As used in this chapter, unless the context otherwise requires,
the following words shall have the meanings respectively ascribed to them: (1) REAL ESTATE
INVESTMENT TRUST. An unincorporated trust or association in which property is acquired, held,
managed, administered, controlled, invested, or disposed of for the benefit and profit of
any person who may become shareholder or an entity that otherwise complies with the provisions
of 26 U.S.C. Sections 856 to 858, inclusive, of the U.S. Internal Revenue Code, and the rulings
and regulations adopted thereunder. (2) SHARE. A transferable unit of beneficial interest
in a real estate investment trust. (3) SHAREHOLDER. The holder of a transferable unit of beneficial
interest in a real estate investment trust. (Acts 1995, No. 95-628, p. 1317, §2.)...
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10A-10-1.02
Section 10A-10-1.02 Definitions. As used in this chapter, unless the context otherwise requires,
the following words shall have the meanings respectively ascribed to them: (1) REAL ESTATE
INVESTMENT TRUST. An unincorporated trust or association in which property is acquired, held,
managed, administered, controlled, invested, or disposed of for the benefit and profit of
any person who may become a shareholder or an entity that otherwise complies with the provisions
of 26 U.S.C. Sections 856 to 860, inclusive, of the U.S. Internal Revenue Code, as amended
from time to time, and the rulings and regulations adopted thereunder. (2) SHARE. A transferable
unit of beneficial interest in a real estate investment trust. (3) SHAREHOLDER. The holder
of a transferable unit of beneficial interest in a real estate investment trust. (Acts 1995,
No. 95-628, p. 1317, §2; §10-13-2; amended and renumbered by Act 2009-513, p. 967, §308.)...
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35-19-5
Section 35-19-5 Validity and enforceability of environmental covenants. (a) An environmental
covenant that complies with this chapter runs with the land. (b) An environmental covenant
that is otherwise effective is valid and enforceable even if any one or more of the following
conditions apply: (1) It is not appurtenant to an interest in real property. (2) It can be
or has been assigned to a person other than the original holder. (3) It is not of a character
that has been recognized traditionally at common law. (4) It imposes a negative burden. (5)
It imposes an affirmative obligation on a person having an interest in the real property or
on the holder. (6) The benefit or burden does not touch or concern real property. (7) There
is no privity of estate or contract. (8) The holder dies, ceases to exist, resigns, or is
replaced. (9) The owner of an interest subject to the environmental covenant and the holder
are the same person. (c) An instrument that creates restrictions or obligations...
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35-19-2
Section 35-19-2 Definitions. The following terms shall have the following meanings: (1) ACTIVITY
AND USE LIMITATIONS. Restrictions or obligations created under this chapter with respect to
real property. (2) AGENCY or DEPARTMENT. The Alabama Department of Environmental Management.
(3) COMMON INTEREST COMMUNITY. A condominium, cooperative, or other real property with respect
to which a person, by virtue of the person's ownership of a parcel of real property, is obligated
to pay property taxes or insurance premiums, or for maintenance, or improvement of other real
property described in a recorded covenant that creates the common interest community. (4)
DIRECTOR. The Director of the Alabama Department of Environmental Management or his or her
designated representative. (5) ENVIRONMENTAL COVENANT. A servitude arising under an environmental
response project that imposes activity and use limitations. (6) ENVIRONMENTAL RESPONSE PROJECT.
A plan or work performed for environmental remediation...
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10A-2-11.06
Section 10A-2-11.06 Effect of merger or share exchange. REPEALED IN THE 2019 REGULAR SESSION
BY ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a)
When a merger takes effect: (1) Every other corporation party to the merger merges into the
surviving corporation and the separate existence of every corporation except the surviving
corporation ceases; (2) The surviving corporation thereupon and thereafter possesses all the
rights, immunities, and franchises, of a public as well as of a private nature, of every corporation
party to the merger; and all property, real, personal and mixed, and all debts due each of
the corporations so merged, are taken and deemed to be transferred and vested in the surviving
corporation without further act or deed; and title to any real estate, or an interest therein,
vested in any of the corporations shall not revert nor in any way be impaired by reason of
the merger; (3) The surviving corporation shall be responsible and...
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10A-3-5.05
Section 10A-3-5.05 Effect of merger or consolidation. (a) The merger or consolidation shall
be effected upon the effective date and time of the articles of merger or consolidation pursuant
to Section 10A-1-4.11. (b) When the merger or consolidation has been effected: (1) The nonprofit
corporations, parties to the plan of merger or consolidation, shall become a single nonprofit
corporation, which, in the case of a merger, shall be that nonprofit corporation designated
in the plan of merger as the surviving nonprofit corporation, and, in the case of a consolidation,
shall be the new nonprofit corporation provided for in the plan of consolidation. (2) The
separate existence of all nonprofit corporations parties to the plan of merger or consolidation,
except the surviving or new nonprofit corporation, shall cease. (3) The surviving or new nonprofit
corporation shall have all the rights, privileges, immunities, and powers and shall be subject
to all the duties and liabilities of a nonprofit...
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45-8A-22.109
Section 45-8A-22.109 Contributions to the trust. (a) The secretary-treasurer shall receive
contributions to the trust that shall consist of the following: (1) All of the money, securities,
things of value, and assets belonging to any similar fund now being maintained by the City
of Anniston. (2) All money or properties that may be given or donated by any person, firm,
association, or corporation for the uses and purposes for which the trust is created, and
the retirement board may take by gift, grant, devise, or bequest, any money, personal property
or real estate, or any interest therein or any right of property for the benefit of the trust.
(3) Participant Contributions. a. Employee Contributions. Effective prior to October 1, 2002,
10 percent of each participant's monthly compensation, including overtime and any other pay,
which shall be deducted from such compensation and paid to the secretary-treasurer on or before
the tenth day each month next succeeding the month in which such...
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10A-30-1.09
Section 10A-30-1.09 Powers; conveyances; exemption from liability; applicable to professional
associations formed prior to January 1, 1984. A professional association organized pursuant
to the provisions of this article may contract in its own name, take, hold, and sell real
and personal property in its own name, independent of its members, and sue and be sued as
independent entities as now provided by law. Any conveyance in the name of the professional
association to a third person executed by the president and attested by the secretary shall
be conclusively presumed to be properly executed and shall divest all right, title, and interest
of the professional association, its members, and the board of governors thereof. The assets
of a professional association shall not be liable to attachment for the individual debts of
its members or shareholders. (Acts 1961, No. 865, p. 1349, §14; §10-10-9; amended and renumbered
by Act 2009-513, p. 967, §370.)...
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40-15B-2
Section 40-15B-2 Definitions. In this chapter: (1) "Apportionable estate" means the
value of the gross estate as finally determined for purposes of the estate tax to be apportioned
reduced by: (A) any claim or expense allowable as a deduction for purposes of the tax; (B)
the value of any interest in property that, for purposes of the tax, qualifies for a marital
or charitable deduction or otherwise is deductible or is exempt; and (C) any amount added
to the decedent's gross estate because of a gift tax on transfers made before death. (2) "Estate
tax" means a federal, state, or foreign tax imposed because of the death of an individual
and interest and penalties associated with the tax. The term does not include an inheritance
tax, income tax, or generation-skipping transfer tax other than a generation-skipping transfer
tax incurred on a direct skip taking effect at death. (3) "Gross estate" means,
with respect to an estate tax, all interests in property subject to the tax. (4) "Person"...
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22-21-53
Section 22-21-53 Powers. (a) Any district or regional hospital association is hereby authorized
and empowered to exercise the following powers in addition to others granted in this article:
(1) To cooperate with the State Board of Health for the purpose of constructing, equipping,
maintaining and operating a hospital by making appropriate application to the State Board
of Health; to enter into a cooperative contract with the State Board of Health for this purpose;
(2) To act as an agent for the State Board of Health under a cooperative contract to prepare,
carry out and operate hospital projects; (3) To provide for the construction, reconstruction,
improvement, alteration or repair of any hospital, or any part thereof; (4) To take over,
by purchase, lease or otherwise, any hospital; (5) To manage, as agent of the State Board
of Health, any hospital constructed or owned by the association; (6) To arrange, with any
appropriate local or state agencies, for the opening or closing of...
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