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5-17-22
Section 5-17-22 Merger and conversion procedures. Any credit union, with the approval
of the Administrator of the Alabama Credit Union Administration, may merge with another credit
union, under the existing certificate of organization of the other credit union, pursuant
to any plan agreed upon by the majority of each board of directors of each credit union joining
in the merger. In addition to approval by the administrator and each board of directors, the
membership of the merging credit union must also approve the merger plan in the following
manner: (1) At a meeting called for that purpose, notice of which purpose must be contained
in the call, two-thirds of those voting may vote to approve the merger plan. Voting must be
conducted in accordance with the bylaws of the credit union. The notice must be provided to
the members at least 45 calendar days, but no more than 90 calendar days, prior to the date
of the meeting. (2) After agreement by the directors and approval by the members...
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10A-2A-13.01
Section 10A-2A-13.01 Definitions. Notwithstanding Chapter 1, in this Article 13: (1)
"Affiliate" means a person that directly or indirectly through one or more intermediaries
controls, is controlled by, or is under common control with another person or is a senior
executive of that person. For purposes of Section 10A-2A-13.02(b)(4), a person is deemed
to be an affiliate of its senior executives. (2) "Corporation" means the corporation
that is the issuer of the stock held by a stockholder demanding appraisal and, for matters
covered in Section 10A-2A-13.22 through Section 10A-2A-13.31, includes the surviving
organization of a merger. (3) "Fair value" means the value of the corporation's
stock determined: (i) immediately before the effectiveness of the corporate action to which
the stockholder objects; (ii) using customary and current valuation concepts and techniques
generally employed for similar businesses in the context of the transaction requiring appraisal;
and (iii) without...
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27-21A-6
Section 27-21A-6 Fiduciary responsibilities of directors, officers, employees, and partners.
(a) Any director, officer, employee, or partner of a health maintenance organization who receives,
collects, disburses, or invests funds in connection with the activities of such organization
shall be responsible for such funds in a fiduciary relationship to the organization. (b) A
health maintenance organization shall maintain in force a fidelity bond on employees and officers
in an amount not less than $25,000 or such other sum as may be prescribed by the commissioner.
All such bonds shall be written with at least a one-year discovery period and if written with
less than a three-year discovery period shall contain a provision that no cancellation or
termination of the bond, whether by or at the request of the insured or by the underwriter,
shall take effect prior to the expiration of 90 days after written notice of such cancellation
or termination has been filed with the commissioner unless...
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22-30-3
Section 22-30-3 Definitions. When used in this chapter and except where the context
prohibits, the following words and terms shall have the following meanings: (1) COMMISSION.
The Environmental Management Commission of the Alabama Department of Environmental Management
as created by Section 22-22A-6. (2) DEPARTMENT. The Alabama Department of Environmental
Management as created by Section 22-22A-4. (3) DIRECTOR. The Director of the Alabama
Department of Environmental Management. (4) DISPOSAL. The discharge, deposit, injection, dumping,
spilling, leaking or placing of any hazardous waste into or on any land or water so that such
hazardous waste or any constituent thereof may enter the environment or be emitted into the
air or discharged into any waters, including ground waters. (5) HAZARDOUS WASTE. A solid waste,
or combination of solid wastes, which, because of its quantity, concentration or physical,
chemical or infectious characteristics may: a. Cause, or significantly contribute to,...
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25-4-51
Section 25-4-51 Rates of contributions, etc., by employers. (a) Contributions. Except
as hereinafter provided and subject to the provisions of Section 25-4-54, every employer
shall pay contributions, or payments in lieu of contributions, equal to the percentages of
wages payable or paid as hereinafter set out, with respect to employment by him. (1) With
respect to employment during calendar years after December 31, 1975, every employer who has
been liable to the provisions of this chapter during a period of time sufficient to have his
rate of contribution determined under the experience rating provisions of Section 25-4-54
shall pay contributions at the rate prescribed thereby. (2) With respect to employment after
December 31, 1975, every employer who has not been liable to the provisions of this chapter
for a sufficient length of time to have his rate determined under the experience rating provisions
of Section 25-4-54 shall pay contributions at the rate of 2.70 percent of such wages...
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43-8-1
Section 43-8-1 General definitions. Subject to additional definitions contained in the
subsequent articles which are applicable to specific articles or divisions, and unless the
context otherwise requires, in this chapter, the following words shall have the following
meanings: (1) BENEFICIARY. As it relates to trust beneficiaries, includes a person who has
any present or future interest, vested or contingent, and also includes the owner of an interest
by assignment or other transfer and as it relates to a charitable trust, includes any person
entitled to enforce the trust. (2) CHILD. Includes any individual entitled to take as a child
under this chapter by intestate succession from the parent whose relationship is involved
and excludes any person who is only a stepchild, a foster child, a grandchild or any more
remote descendant. (3) COURT. The court having jurisdiction in matters relating to the affairs
of decedents. This court in Alabama is known as the probate court. (4) DAYS. That...
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15-18-171
Section 15-18-171 Definitions. As used in this article, the following terms shall have
the following meanings, respectively, unless the context otherwise requires: (1) APPLICATION
PROCESS AND PROCEDURES. The criteria and guidelines developed by the Department of Corrections
for the establishment of community punishment and corrections programs, the granting of funds
for programs authorized herein, and the monitoring, evaluation, and review of programs funded
herein. (2) BOARD. The board of directors of the authority or the board of directors of a
nonprofit entity. (3) COMMISSIONER. The Commissioner of the Department of Corrections. (4)
COMMUNITY. The county or counties comprising one or more judicial circuits. (5) COMMUNITY
PUNISHMENT AND CORRECTIONS AUTHORITY. A public corporation organized pursuant to the provisions
of this article. (6) COMMUNITY PUNISHMENT AND CORRECTIONS PROGRAM. Any program designed as
an alternative to incarceration and maintained by a county commission or an...
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16-17A-20
Section 16-17A-20 Applicability of other laws. Notwithstanding any other provision of
law to the contrary: (1) Each authority shall be exempt from all laws of the state governing
usury or prescribing or limiting interest rates, including, without limitation, the provisions
of Title 8, Chapter 8. (2) Authorities, university affiliates, members of the governing bodies
of authorities and university affiliates, and officers and employees of authorities and university
affiliates shall not be subject to state ethics laws, including, without limitation, the provisions
of Title 36, Chapter 25. (3) Meetings of the board of an authority and any committee thereof
shall not be subject to public meeting or notice requirements, including, without limitation,
the provisions of Title 36, Chapter 25A. (4) Deposits of authorities and university affiliates
are entitled to the benefits of the Security for Alabama Funds Enhancement Act, Title 41,
Chapter 14A, and therefore, authorities and university...
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5-5A-44
Section 5-5A-44 Acquisition of majority of voting shares of a bank; procedure. (a) No
person, acting directly or indirectly or through or in concert with one or more persons, may
acquire control of a state bank or of any corporation or other entity having control of a
state bank, unless an application is filed with the superintendent for review of the proposed
transaction and for his or her action, if any, as provided in this section. (b) The
application shall be on a form prescribed by the superintendent and shall be made under oath.
The application must contain all information that the superintendent by regulation requires
to be furnished in an application, as well as any information that the superintendent orders
to be included in the particular application being filed and shall be accompanied by the filing
fee prescribed by the Banking Board. For the purposes of this section, the Banking
Board may reduce or waive any prescribed fees for applications where a change of control...
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22-21-270
Section 22-21-270 Certificates of need - Period for which valid; extension of time;
termination; transferability. (a) A certificate of need issued under subsection (a) of Section
22-21-265 and Section 22-21-268 shall be valid for a period not to exceed 12 months
and may be subject to one extension not to exceed 12 months, provided the criteria for extension
as set forth in the rules and regulations of the SHPDA are met. Applications for an extension
filed under this section shall be accompanied by a filing fee to be established by
rule, not to exceed 25 percent of the original CON application fee. If no obligation has occurred
within such period, the certificate of need shall be considered terminated and shall be null
and void. Should the obligation be incurred within such valid period, the certificate of need
shall be continued in effect for a period not to exceed one year or the completion of the
construction project, whichever shall be later, or the inauguration of the service or...
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