|
19-3B-816
Section 19-3B-816 Specific powers of trustee. (a) Without limiting the authority conferred
by Section 19-3B-815, a trustee may: (1) collect trust property and accept or reject additions
to the trust property from a settlor or any other person, including, but not being limited
to, the authority to receive, collect, hold, and retain common or preferred stock or other
interests in the trustee or any related party; (2) acquire or sell property, for cash or on
credit, at public or private sale; (3) exchange, partition, or otherwise change the character
of trust property; (4) deposit trust money in an account in a regulated financial-service
institution; (5) borrow money, with or without security, and mortgage or pledge trust property
for a period within or extending beyond the duration of the trust; (6) with respect to an
interest in a proprietorship, partnership, limited liability company, business trust, corporation,
or other form of business or enterprise, continue the business or other...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-3B-816.htm - 10K - Match Info - Similar pages
40-18-24.2
Section 40-18-24.2 Taxation of pass-through entities. (a) For purposes of this section and
Section 40-18-24.3, the following terms shall have the following meanings: (1) MEMBER. An
individual, estate, trust or business trust as defined in Section 40-18-1, a corporation as
defined in Section 40-18-1, or Subchapter K entity as defined in Section 40-18-1, that is
a partner in a general, limited, limited liability, or limited liability limited partnership,
or a member of a limited liability company. (2) NONRESIDENT. a. An individual who is not a
resident of or domiciled in this state during the applicable tax year. b. A nonresident trust
as defined in Section 40-18-1. c. A nonresident estate as defined in Section 40-18-1. d. A
foreign corporation as defined in Section 40-18-1, not commercially domiciled in this state
during the applicable tax year. e. A Subchapter K entity or business trust that is created
or organized under the laws of a jurisdiction other than this state and that is not...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-24.2.htm - 7K - Match Info - Similar pages
10A-5A-4.07
Section 10A-5A-4.07 Direction and oversight of the limited liability company. (a) The limited
liability company agreement of a limited liability company may provide that the activities
and affairs of the limited liability company shall be under the direction, and subject to
the oversight, of: (1) its members; (2) one or more managers; or (3) such other governance
structure as provided in the limited liability company agreement. The limited liability company
agreement of a limited liability company may provide that the activities and affairs of a
series shall be under the direction, and subject to the oversight, of: (1) the members associated
with that series; (2) one or more managers; or (3) such other governance structure as provided
in the limited liability company agreement. (b) If the limited liability company agreement
does not specify who shall direct and oversee the activities and affairs of the limited liability
company or a series thereof: (1)(A) The activities and affairs of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-5A-4.07.htm - 3K - Match Info - Similar pages
5-11A-4
Section 5-11A-4 Use of word "trust" in designation or name of entity. Except in the
case of any entity which is organized and operating under the laws of Alabama, other states,
or the United States as a trust company or as a combined bank and trust company and which
has complied with the requirements of Sections 5-11A-1 and 5-11A-3 or with similar laws of
other states or of the United States, no firm, partnership, limited liability company, corporation,
or other entity shall use the word "trust" or a word or words of similar meaning
in any foreign language as a part of its designation or name or in connection with its business
if such use of the word "trust" or word or words of similar meaning in any foreign
language is likely to give the impression that the entity is lawfully organized and operating
as a bank or trust company or would otherwise mislead or confuse the public regarding the
lawful business of the entity. Any violation of this section shall subject the party chargeable...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-11A-4.htm - 2K - Match Info - Similar pages
10A-2-8.57
Section 10A-2-8.57 Insurance. REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE
JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. A corporation may purchase and
maintain insurance, or furnish similar protection, including but not limited to trust funds,
self-insurance reserves, or the like, on behalf of an individual who is or was a director,
officer, employee, or agent of the corporation, or who, while a director, officer, employee,
or agent of the corporation, is or was serving at the request of the corporation as a director,
officer, partner, trustee, employee, or agent of another foreign or domestic corporation,
partnership, joint venture trust, employee benefit plan, or other enterprise, against liability
asserted against or incurred by him or her in that capacity or arising from his or her status
as a director, officer, employee, or agent, whether or not the corporation would have power
to indemnify him or her against the same liability under Section...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-8.57.htm - 1K - Match Info - Similar pages
10A-5A-10.03
Section 10A-5A-10.03 Filings required for conversion; effective date. (a) After a plan of conversion
is approved: (1) if the converting organization is an organization formed under, or its internal
affairs are governed by, the laws of this state, the converting organization shall file a
statement of conversion in accordance with subsection (c), which statement of conversion must
be signed in accordance with Section 10A-5A-2.04(a) and which must include: (A) the name,
type of organization, and mailing address of the principal office of the converting organization,
and its unique identifying number or other designation as assigned by the Secretary of State,
if any, before conversion; (B) the date of the filing of the certificate of formation of the
converting organization, if any, and all prior amendments and the filing office or offices,
if any, where such is filed; (C) a statement that the converting organization has been converted
into the converted organization; (D) the name and type...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-5A-10.03.htm - 6K - Match Info - Similar pages
16-17A-2
Section 16-17A-2 Definitions. For purposes of this chapter, the following terms shall have
the following meanings: (1) ACADEMIC MEDICAL CENTER. The teaching, research, and clinical
facilities provided, established, or operated by a constitutionally created public university
in the state or a university that operates a school of medicine. (2) AUTHORITY. A public corporation
organized pursuant to the provisions of this chapter. (3) BOARD. The board of directors of
an authority. (4) DIRECTOR. A member of the board of an authority. (5) GOVERNMENTAL ENTITY.
The state, a county, a municipality, or any department, agency, board, or commission of the
state, a county, or a municipality. (6) HEALTH CARE FACILITY. All property or rights in property,
real or personal, tangible or intangible, useful to an authority in its operations, including
without limitation, the following: a. Facilities necessary or desirable to the operation of
an academic medical center, one or more health sciences schools,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-17A-2.htm - 4K - Match Info - Similar pages
25-14-3
Section 25-14-3 Definitions. As used in this chapter, the following terms shall have the following
meanings: (1) ADMINISTRATIVE FEE. The fee charged to a client by a professional employer organization
for professional employer services. The term does not include any amount of a fee by the professional
employer organization that is for wages and salaries, benefits, workers' compensation, payroll
taxes, withholding, or other assessments paid by the professional employer organization to
or on behalf of covered employees under the professional employer agreement. (2) CLIENT. A
person or entity that enters into a professional employer agreement with a professional employer
organization, including a worksite employer. (3) CONTROLLING PERSON. Any of the following:
a. An officer or director of a corporation operating as a professional employer organization,
a shareholder holding 25 percent or more of the voting stock of a corporation operating as
a professional employer organization, or a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/25-14-3.htm - 6K - Match Info - Similar pages
9-14E-1
Section 9-14E-1 Definitions. The following terms as used in this section shall have the following
meanings: (1) DEPARTMENT. The Department of Conservation and Natural Resources. (2) GOVERNOR.
The Governor of the State of Alabama. (3) GROUND LEASE. A lease of the project site which
shall provide for the rights and responsibilities of the state and any other person which
is a party thereto. (4) GULF STATE PARK. The real property comprising approximately 6,150
acres, and any future additions thereto, including facilities and fixtures located thereon
and appurtenances thereto, owned and managed by the state and the department in south Baldwin
County, Alabama. (5) GULF STATE PARK PROJECT COMMITTEE. The committee established pursuant
to subsection (d) of Section 9-14E-5. (6) PARTY TO AN EXECUTED PROJECT AGREEMENT. The state
or any person who is a party to and is obligated to the state under a project agreement, or
any part thereof. (7) PERSON. Any private person or any public person. (8)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/9-14E-1.htm - 4K - Match Info - Similar pages
10A-17-1.02
Section 10A-17-1.02 Definitions. In this chapter: (1) "Member" means a person who,
under the rules or practices of a nonprofit association, may participate in the selection
of persons authorized to manage the affairs of the nonprofit association or in the development
of policy of the nonprofit association. (2) "Nonprofit association" means an unincorporated
organization consisting of two or more members joined by mutual consent as an association
for a stated common, nonprofit purpose, but does not include a limited liability company,
general partnership, or limited partnership. In addition, joint tenancy, tenancy in common,
or tenancy by the entireties does not by itself establish a nonprofit association, even if
the co-owners share use of the property for a nonprofit purpose. (3) "Nonprofit purpose"
shall be any purpose for which a nonprofit corporation could be organized under the Alabama
Nonprofit Corporation Act, as amended, and where no part of income or profit is distributable
to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-17-1.02.htm - 1K - Match Info - Similar pages
|