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10A-8A-8.09
Section 10A-8A-8.09 Disposition of assets, when contributions required. Notwithstanding Section
10A-1-9.12, upon the winding up of a partnership, the assets of the partnership, including
any obligation under Sections 10A-8A-4.03, 10A-8A-4.04, and 10A-8A-4.09, 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 partnership. (b) After a 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 distributions...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-8A-8.09.htm - 3K - Match Info - Similar pages
10A-9A-5.08
Section 10A-9A-5.08 Limitations on distribution and liability for improper distributions. (a)
A limited partnership shall not make a distribution to a partner to the extent that at the
time of the distribution, after giving effect to the distribution, all liabilities of the
limited partnership, other than liabilities to partners on account of their transferable interests
and liabilities for which the recourse of creditors is limited to specific property of the
limited partnership, exceed the fair value of the assets of the limited partnership, except
that the fair value of the property that is subject to a liability for which recourse of creditors
is limited shall be included in the assets of the limited liability partnership only to the
extent that the fair value of the property exceeds that liability. (b) A general partner who
consents to a distribution in violation of subsection (a) or the partnership agreement, and
who knew at the time of the distribution that the distribution...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-9A-5.08.htm - 2K - Match Info - Similar pages
11-28-1
Section 11-28-1 Legislative intent. It is the intention of the Legislature by the passage of
this chapter to authorize each county in the State of Alabama: (i) to sell and issue warrants
for the purpose of financing the costs of acquiring, by construction, purchase or otherwise,
any public facilities described in Section 11-28-1.1 that such county may be lawfully authorized
to acquire at the time of the issuance of such warrants and (ii) to sell and issue warrants
for the purpose of refunding any bonds, notes, warrants or other instruments evidencing valid
debt at any time incurred or assumed by such county to pay the costs of acquiring such public
facilities or to refund debt that, through one or more prior refundings, had been initially
incurred for the payment of such costs, it being the intention of this chapter that any debt
of such county may be refunded by warrants issued under this chapter irrespective of whether
such debt was initially incurred under this chapter or under...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-28-1.htm - 2K - Match Info - Similar pages
7-9A-102
Section 7-9A-102 Definitions and index of definitions. (a) Article 9A definitions. In this
article: (1) "Accession" means goods that are physically united with other goods
in such a manner that the identity of the original goods is not lost. (2) "Account,"
except as used in "account for," means a right to payment of a monetary obligation,
whether or not earned by performance, (i) for property that has been or is to be sold, leased,
licensed, assigned, or otherwise disposed of, (ii) for services rendered or to be rendered,
(iii) for a policy of insurance issued or to be issued, (iv) for a secondary obligation incurred
or to be incurred, (v) for energy provided or to be provided, (vi) for the use or hire of
a vessel under a charter or other contract, (vii) arising out of the use of a credit or charge
card or information contained on or for use with the card, or (viii) as winnings in a lottery
or other game of chance operated or sponsored by a State, governmental unit of a State, or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-9A-102.htm - 29K - Match Info - Similar pages
23-7-18
Section 23-7-18 Liability for bonds. Bonds, other financial assistance, and other obligations
issued by the bank shall not constitute an obligation or debt of this state, or any of its
political subdivisions, but shall be limited obligations of the bank payable solely from the
revenue, money, or property of the bank pledged for such purpose as provided in this chapter.
Any bonds, other financial assistance, or other obligations of the bank issued do not constitute
an indebtedness of the state or any of its political subdivisions within the meaning of any
constitutional or statutory limitation, and neither the full faith and credit nor the taxing
power of the state, or any of its political subdivisions, is pledged to the payment thereof.
No member of the bank or any person executing bonds, other financial assistance, or other
obligations of the bank is liable personally thereon by reason of their issuance or execution.
Each bond, other financial assistance, and other obligation issued...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-7-18.htm - 1K - Match Info - Similar pages
10A-9A-3.04
Section 10A-9A-3.04 Right of limited partner and former limited partner to information. Notwithstanding
the provisions of Sections 10A-1-3.32 and 10A-1-3.33: (a) Subject to subsection (g), on 10
days' demand, made in a writing received by the limited partnership, a limited partner may
inspect and copy required information during regular business hours and at a reasonable location
specified by the limited partnership. The limited partner need not have any particular purpose
for seeking the information. (b) Subject to subsection (g), during regular business hours
and at a reasonable location specified by the limited partnership, a limited partner may obtain
from the limited partnership and inspect and copy true and full information regarding the
state of the activities and affairs and financial condition of the limited partnership and
other information regarding the activities and affairs of the limited partnership as is just
and reasonable if: (1) the limited partner seeks the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-9A-3.04.htm - 5K - Match Info - Similar pages
7-9A-334
Section 7-9A-334 Priority of security interests in fixtures and crops. (a) Security interest
in fixtures under this article. A security interest under this article may be created in goods
that are fixtures or may continue in goods that become fixtures. A security interest does
not exist under this article in ordinary building materials incorporated into an improvement
on land. (b) Security interest in fixtures under real-property law. This article does not
prevent creation of an encumbrance upon fixtures under real property law. (c) General rule:
Subordination of security interest in fixtures. In cases not governed by subsections (d) through
(h), a security interest in fixtures is subordinate to a conflicting interest of an encumbrancer
or owner of the related real property other than the debtor. (d) Fixtures purchase-money priority.
Except as otherwise provided in subsection (h), a perfected security interest in fixtures
has priority over a conflicting interest of an encumbrancer or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-9A-334.htm - 5K - Match Info - Similar pages
10A-9A-1.08
Section 10A-9A-1.08 Effect of partnership agreement; nonwaivable provisions. (a) Except as
otherwise provided in subsections (b) and (c): (1) the partnership agreement governs relations
among the partners as partners and between the partners and the partnership; and (2) to the
extent the partnership agreement does not otherwise provide for a matter described in subsection
(a)(1), this chapter governs the matter. (b)(1) To the extent that, at law or in equity, a
partner or other person has duties, including fiduciary duties, to a limited partnership or
to another partner or to another person that is a party to or is otherwise bound by a partnership
agreement, the partner's or other person's duties may be expanded or restricted or eliminated
by provisions in a written partnership agreement, but the implied contractual covenant of
good faith and fair dealing may not be eliminated. (2) A written partnership agreement may
provide for the limitation or elimination of any and all liabilities...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-9A-1.08.htm - 5K - Match Info - Similar pages
40-18-86
Section 40-18-86 Sale or transfer of real property and associated tangible property by nonresidents.
(a) As used in this section, the term nonresident of Alabama shall include individuals, trusts,
partnerships, corporations, and unincorporated organizations. Any seller or transferor who
meets all of the following conditions and who provides the buyer or transferee with an affidavit
signed under oath swearing or affirming that all of the following conditions are met will
be deemed a resident for purposes of this section: (1) The seller or transferor has filed
Alabama income tax returns or appropriate extensions have been received for the two income
tax years immediately preceding the year of sale. (2) The seller or transferor is in business
in Alabama and will continue substantially the same business in Alabama after the sale or
the seller or transferor has real property remaining in the state at the time of closing of
equal or greater value than the withholding tax liability as...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-86.htm - 6K - Match Info - Similar pages
11-92A-16
Section 11-92A-16 Use of bonds, proceeds, etc. (a) The proceeds from the sale of any bonds
shall be applied as provided in the proceedings in which the bonds are authorized to be issued,
including without limitation, the payment of all legal, fiscal, and recording fees and expenses
incurred in connection with the authorization, sale, and issuance of the bonds and, if so
provided in the proceedings authorizing their issuance, interest on said bonds (or if only
a part of any issue of bonds is issued for acquisition purposes, interest on that portion
of the bonds of that issue that is issued to pay acquisition costs) for a reasonable period
prior to and during the time required for the acquisition, construction, and equipping of
the project. An authority may provide in the proceedings authorizing the issuance of bonds
for the funding of a debt service reserve and/or a replacement and extension reserve from
the proceeds of its bonds. (b) All contracts made by an authority and all bonds...
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