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10A-5A-10.08
Section 10A-5A-10.08 Effect of merger. (a) When a merger becomes effective: (1) the surviving
organization continues or, in the case of a surviving organization created pursuant to the
merger, comes into existence; (2) each constituent organization that merges into the surviving
organization ceases to exist as a separate entity; (3) except as provided in the plan of merger,
all property owned by, and every contract right possessed by, each constituent organization,
or series thereof, that ceases to exist vests in the surviving organization without transfer,
reversion, or impairment and the title to any property and contract rights vested by deed
or otherwise in the surviving organization shall not revert, be in any way impaired, or be
deemed to be a transfer by reason of the merger; (4) all debts, obligations, and other liabilities
of each constituent organization, or series thereof, other than the surviving organization,
are debts, obligations, and other liabilities of the surviving...
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6-10-8
Section 6-10-8 Rights of beneficiaries and assignees under life insurance policies. If a policy
of insurance, whether heretofore or hereafter issued, is effected by any person on his or
her own life or on another life in favor of a person other than himself or herself or, except
in cases of transfer with intent to defraud creditors, if a policy of life insurance is assigned
or in any way made payable to any such person, the lawful beneficiary or assignee thereof,
other than the insured or the person so effecting such insurance, or his or her executors
or administrators, shall be entitled to its proceeds and avails against the creditors and
representatives of the insured and of the person effecting the same, whether or not the right
to change the beneficiary is reserved or permitted and whether or not the policy is made payable
to the person whose life is insured if the beneficiary or assignee shall predecease such person;
provided, that subject to the statute of limitations, the amount...
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11-61A-15
Section 11-61A-15 Issuance of bonds. (a) The authority may issue bonds under and secured by
an indenture between the authority and a trustee. The trustee may be a private person or corporation,
including, but not limited to, any trust company or bank having trust powers, whether the
bank or trust company is located within or without the state. (b) In any indenture or resolution
providing for the issuance of bonds, the authority may pledge, for payment of the principal
of and the interest on the bonds, any of its revenues to which its right then exists or may
subsequently come into existence and may assign, as security for the payment, any of its leases,
franchises, permits, and contracts. In any such indenture the authority may mortgage any of
its properties, including any properties subsequently acquired by it. Any pledge of revenues
shall be valid and binding from the time it is made, and the revenues pledged and subsequently
received by the authority, and any property of the...
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11-92A-15
Section 11-92A-15 Security for bonds. (a) In the discretion of the board of directors of an
authority, any bonds may be secured by an indenture between an authority and a trustee, which
may be any trust company or bank having trust powers, whether such trust company or bank is
located within or without the state. In any such indenture or resolution providing for the
issuance of bonds an authority may pledge, for payment of the principal of and the interest
on such bonds, any of its revenues to which its right then exists or may thereafter come into
existence, including, but not limited to, revenues or other money or property pledged to it
by any public or private person, and may assign, as security for such payment, any of its
leases, loan agreements, franchises, permits, and contracts. In any such indenture, an authority
may mortgage any of its properties, including any that may be thereafter acquired by it, and
may provide that in the event of a default in payment of the bonds...
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35-8-12
Section 35-8-12 Liability, actions, and service of process. (a) Neither the association nor
any unit owner shall be liable for the individual acts or omissions of any other unit owner.
(b) All actions seeking liability of unit owners arising by virtue of their condominium ownership
and who are not liable by reason of any act or omission on their own part shall be directed
against the association and defended by the association. Where plaintiff's demand exceeds
unit owner insurance established by the association, such unit owner must be given notice
by the association and shall have the right at his own expense to individual representation
by counsel. (c) A unit owner, not liable by reason of any act or omission on his own part,
shall have no liability for any settlement, judgment, or cost of defense incurred by the association
with relation to limited common elements in which he has no interest. (d) A unit owner shall
be liable for no more than a pro rata share of any settlement,...
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10A-9A-8.09
Section 10A-9A-8.09 Disposition of assets, when contributions required. Notwithstanding Section
10A-1-9.12, upon the winding up of a limited partnership, the assets of the limited partnership,
including any obligation under Article 5 of this chapter, and any contribution required by
this section, shall be applied as follows: (a) Payment, or adequate provision for payment,
shall be made to creditors, including, to the extent permitted by law, partners who are creditors,
in satisfaction of liabilities of the limited partnership. (b) After a limited partnership
complies with subsection (a), any surplus must be distributed: (1) first, to each person owning
a transferable interest that reflects contributions made on account of the transferable interest
and not previously returned, an amount equal to the value of the person's unreturned contributions;
and (2) then to each person owning a transferable interest in the proportions in which the
owners of transferable interests share in...
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19-3A-102
Section 19-3A-102 Definitions. As used in this chapter, the following terms are defined as
follows: (1) ACCOUNTING PERIOD. A calendar year unless another 12-month period is selected
by a fiduciary. The term includes a portion of a calendar year or other 12-month period that
begins when an income interest begins or ends when an income interest ends. (2) BENEFICIARY.
Includes, in the case of a decedent's estate, an heir, legatee, and devisee and, in the case
of a trust, an income beneficiary and a remainder beneficiary. (3) FIDUCIARY. A personal representative
or a trustee. The term includes an executor, administrator, successor personal representative,
special administrator, and a person performing substantially the same function. (4) INCOME.
Money or property that a fiduciary receives as current return from a principal asset. The
term also includes a portion of receipts from a sale, exchange, or liquidation of a principal
asset, to the extent provided in Article 4. (5) INCOME...
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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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40-9F-4
Section 40-9F-4 Tax credits calculated, claimed, reserved, granted; transfer or assignment
of tax credits. (a) The state portion of any tax credit against the tax imposed by Chapters
16 and 18, for the taxable year in which the certified rehabilitation is placed in service,
shall be equal to 25 percent of the qualified rehabilitation expenditures for certified historic
structures, and shall be 10 percent of the qualified rehabilitation expenditures for qualified
pre-1936 non-historic structures. No tax credit claimed for any certified rehabilitation may
exceed five million dollars ($5,000,000) for all allowable property types except a certified
historic residential structure, and fifty thousand dollars ($50,000) for a certified historic
residential structure. (b) The entire tax credit may be claimed by the taxpayer in the taxable
year in which the certified rehabilitation is placed in service. Where the taxes owed by the
taxpayer are less than the tax credit, the taxpayer shall not be...
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19-3B-103
Section 19-3B-103 Definitions. In this chapter: (1) ACTION, with respect to an act of a trustee,
includes a failure to act. (2) ASCERTAINABLE STANDARD means a standard relating to an individual's
health, education, support, or maintenance within the meaning of Section 2041(b)(1)(A) or
2514(c)(1) of the Internal Revenue Code of 1986, as in effect on January 1, 2007, or as later
amended. (3) BENEFICIARY means a person that: (A) has a present or future beneficial interest
in a trust, vested or contingent; or (B) in a capacity other than that of trustee, holds a
power of appointment over trust property. (4) CHARITABLE TRUST means a trust, or portion of
a trust, created for a charitable purpose described in Section 19-3B-405(a). (5) CONSERVATOR
means a person appointed by the court to administer the estate of a minor or adult individual.
(6) ENVIRONMENTAL LAW means a federal, state, or local law, rule, regulation, or ordinance
relating to protection of the environment. (7) GUARDIAN means a...
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