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2-6-84
Section 2-6-84 Securities as legal investments. Securities issued by the corporation under
the provisions of this article shall be legal investments for fiduciaries investing trust
funds and for investments by savings banks, savings and loan associations and insurance companies
organized under the laws of the state and shall be eligible to be used as security for the
deposit of funds of the state and its instrumentalities. (Acts 1984, No. 84-252, p. 405, §15.)...
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22-21-6
Section 22-21-6 Certain public hospital corporations exempted from usury and interest rate
limitation laws. (a) Bonds, notes and other securities issued by any public hospital corporation
are hereby exempted from all laws of the state governing usury or prescribing or limiting
interest rates, including, without limitation, the provisions of Chapter 8 of Title 8 of this
code. (b) For the purposes of this section, the following terms shall have the meanings respectively
ascribed to them by this subsection: (1) STATE. The State of Alabama. (2) PUBLIC HOSPITAL
CORPORATION. Any public corporation organized pursuant to the provisions of any of the following
statutes, as heretofore or hereafter amended: a. Section 22-21-5, b. Article 3 of this chapter,
or c. Division 1 of Article 4 of this chapter. (Acts 1975, No. 192, p. 679.)...
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5-3A-1
Section 5-3A-1 Required times; items to be examined; applicability to bank holding companies
and affiliates. (a) For purposes of this section, a bank holding company is a holding company
organized under the laws of Alabama or another state in the United States that directly owns
a majority of the voting securities of an Alabama state bank. (b) Every bank other than national
banks shall be subject to the supervision and inspection of the superintendent and the regulations
and supervision thereof. The superintendent shall, by competent examiner appointed by him
or her, visit and examine every bank organized under the laws of Alabama at least once in
each eighteen-month period. The examination of banks shall be at irregular intervals. On every
examination, inquiry shall be made as to the conditions and resources of the bank, the mode
of conducting and managing the affairs of the bank, the action of its directors, the investment
of the funds of the bank, the safety and prudence of the...
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10A-3-1.03
Section 10A-3-1.03 Applicability. (a) The provisions of this chapter relating to domestic nonprofit
corporations shall apply to: (1) All nonprofit corporations organized hereunder; and (2) All
nonprofit corporations heretofore organized under any act hereby or heretofore repealed, for
a purpose or purposes for which a nonprofit corporation might be organized under this chapter.
(b) The provisions of this chapter relating to foreign nonprofit corporations shall apply
to all foreign nonprofit corporations conducting affairs in Alabama for a purpose or purposes
for which a nonprofit corporation might be organized under this chapter. (c) Beginning May
1, 2004, the Young Men's Christian Association (YMCA) of Mobile which was incorporated by
Act 405 approved on February 18, 1895, shall be subject to this chapter. Prospectively from
May 1, 2004, the YMCA of Mobile shall be entitled to all of the rights and privileges of a
nonprofit corporation including, but not limited to, the right to amend...
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17-5-14
Section 17-5-14 Corporate contributions or expenditures to political action committees; establishment
by corporation; actions by utilities. (a) A corporation incorporated or organized under the
laws of this state, or doing business in this state, may make a contribution or expenditure
to or on behalf of any candidate or political action committee in the same manner that an
individual is permitted to make under the laws of this state, except as otherwise expressly
prohibited by subsection (c). (b) Any corporation may establish a political action committee,
subject to the provisions of this section. Any corporation or any officer, employee, or agent
acting on behalf of such corporation, is also permitted to give, pay, expend, or contribute
money, services, or anything of value for the purposes of establishing, administering, or
soliciting voluntary contributions to a separate, segregated fund to be utilized for political
purposes as permitted by Section 17-5-14.1. (c) A utility regulated...
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27-28-1
Section 27-28-1 Plan for exchange of stock, etc., between domestic stock insurer and holding
company - Authority. A domestic stock insurance company, hereinafter referred to in this chapter
as "domestic company," may cause a corporation to be organized under the laws of
this state or any other state of the United States of America to act as a holding company,
hereinafter referred to in this chapter as "holding company," which may, or may
not, be an insurance corporation, and the domestic company and holding company may adopt a
plan for an exchange of stock or other securities in which stockholders of the domestic company
exchange their stock for shares of stock or other securities issued by the holding company
pursuant to the provisions of Section 27-28-2. Such plan of exchange may provide for a direct
exchange of stock or other securities between the stockholders of the domestic company and
the holding company or may include provision for the merger of a wholly owned subsidiary of
the...
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8-6-72
Section 8-6-72 (Repealed effective January 1, 1997) Registration and transfer governed by state
of incorporation; applicability of article. (a) The rights and duties of a corporation and
its transfer agents in registering a security in the name of a fiduciary or in making a transfer
of a security pursuant to an assignment by a fiduciary are governed by the law of the jurisdiction
under whose laws the corporation is organized. (b) This article applies to the rights and
duties of a person other than the corporation and its transfer agents with regard to acts
and omissions in this state in connection with the acquisition, disposition, assignment, or
transfer of a security by, or to, a fiduciary and of a person who guarantees in this state
the signature of a fiduciary in connection with such a transaction. (Acts 1961, No. 1016,
p. 1593, §8.)...
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10A-3-5.06
Section 10A-3-5.06 Merger or consolidation of domestic and foreign nonprofit corporations.
(a) One or more foreign nonprofit corporations and one or more domestic nonprofit corporations
may be merged or consolidated in the following manner, if the merger or consolidation is permitted
by the laws of the state under which each foreign nonprofit corporation is organized: (1)
Each domestic nonprofit corporation shall comply with the provisions of this title with respect
to the merger or consolidation, as the case may be, of domestic nonprofit corporations and
each foreign nonprofit corporation shall comply with the applicable provisions of the laws
of the state under which it is organized. (2) If the surviving or new nonprofit corporation,
as the case may be, is to be governed by the laws of any state other than Alabama, it shall
comply with the provisions of this title with respect to foreign entities if it is to conduct
affairs in Alabama, and in every case it shall be deemed to have...
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11-97-2
Section 11-97-2 Definitions. The following words and phrases used in this chapter, and others
evidently intended as the equivalent thereof, shall, in the absence of a clear implication
herein otherwise, be given the following respective interpretations herein: (1) APPLICANT.
A natural person who files a written application with the governing body of any county or
municipality in accordance with the provisions of Section 11-97-3 hereof. (2) AUTHORIZING
RESOLUTION. A resolution of ordinance adopted by the governing body of any county or municipality
in accordance with the provisions of Section 11-97-3 hereof, that authorizes the incorporation
of a corporation. (3) BOARD. The board of directors of a corporation. (4) BONDS. Bonds, notes,
or other obligations representing an obligation to pay money. (5) CORPORATION. Any public
corporation organized pursuant to the provisions of this chapter. (6) COSTS. As applied to
a facility or any portion thereof, shall include all or any part of the...
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10A-4-1.03
Section 10A-4-1.03 Definitions. As used in this chapter, unless the context otherwise requires,
the term: (1) DISQUALIFIED PERSON. Any person who is not a qualified person. (2) DOMESTIC
PROFESSIONAL CORPORATION. A corporation for profit or nonprofit organized pursuant to the
provisions of this chapter. (3) FOREIGN PROFESSIONAL CORPORATION. A corporation or unincorporated
association, for profit or nonprofit, organized for the purpose of rendering professional
services under a law other than the law of Alabama. (4) LICENSING AUTHORITY. As defined in
Section 10A-1-1.03(49). (5) PROFESSIONAL SERVICE. As defined in Section 10A-1-1.03(80). (6)
QUALIFIED PERSON. With respect to any domestic professional corporation: a. An individual
who is authorized by law of Alabama or of any qualified state to render a professional service
permitted by the certificate of formation of the professional corporation; b. A general partnership
in which all the partners are qualified persons with respect to the...
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