10A-9A-2.03
Section 10A-9A-2.03 Execution of documents. (a) A writing delivered to the Secretary of State for filing pursuant to this chapter must be signed as provided by this section. (1) A limited partnership's initial certificate of formation must be signed by all general partners listed in the certificate of formation. (2) An amendment adding or deleting a statement that the limited partnership is a limited liability limited partnership must be signed by all general partners listed in the certificate of formation. (3) An amendment designating as general partner a person admitted under Section 10A-9A-8.01(c) following the dissociation of a limited partnership's last general partner must be signed by the person or persons so designated. (4) Any other amendment must be signed by: (A) at least one general partner; and (B) each other person designated in the amendment as a new general partner. (5) A restated certificate of formation must be signed by at least one general partner and, to the extent...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-9A-2.03.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
10A-8A-4.04
Section 10A-8A-4.04 Liability for contribution. (a) A partner's obligation to make a contribution to a partnership is not excused by the partner's death, disability, or other inability to perform personally. (b) If a partner does not make a contribution required by an enforceable promise, the partner or the partner's estate is obligated, at the election of the partnership, to contribute money equal to the value of the portion of the contribution that has not been made. The foregoing election shall be in addition to, and not in lieu of, any other rights, including the right to specific performance, that the partnership may have under the partnership agreement or applicable law. (c) The obligation of a partner to make a contribution to a partnership may be compromised only by consent of all partners. A conditional obligation of a partner to make a contribution to a partnership may not be enforced unless the conditions of the obligation have been satisfied or waived as to or by that...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-8A-4.04.htm - 1K - Match Info - Similar pages
7-9A-620
Section 7-9A-620 Acceptance of collateral in full or partial satisfaction of obligation; compulsory disposition of collateral. (a) Conditions to acceptance in satisfaction. Except as otherwise provided in subsection (g), a secured party may accept collateral in full or partial satisfaction of the obligation it secures only if: (1) the debtor consents to the acceptance under subsection (c); (2) the secured party does not receive, within the time set forth in subsection (d), a notification of objection to the proposal authenticated by: (A) a person to which the secured party was required to send a proposal under Section 7-9A-621; or (B) any other person, other than the debtor, holding an interest in the collateral subordinate to the security interest that is the subject of the proposal; (3) if the collateral is consumer goods, the collateral is not in the possession of the debtor when the debtor consents to the acceptance; and (4) subsection (e) does not require the secured party to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-9A-620.htm - 4K - Match Info - Similar pages
10A-8A-4.09
Section 10A-8A-4.09 Limitations of distribution and liability for improper distributions. (a) A limited liability 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 liability 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 liability partnership, exceed the fair value of the assets of the limited liability 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 partner who consents to a distribution in violation of subsection (a) or the partnership agreement, and who knew at the time of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-8A-4.09.htm - 2K - Match Info - Similar pages
10A-9A-1.03
Section 10A-9A-1.03 Knowledge and notice. (a) A person knows a fact when the person: (1) has actual knowledge of it; or (2) is deemed to know it under law other than this chapter. (b) A person has notice of a fact when the person: (1) knows of it; (2) receives notification of it; (3) has reason to know the fact from all of the facts known to the person at the time in question; or (4) is deemed to have notice of the fact under subsection (d). (c) A person notifies or gives a notification to another person by taking steps reasonably required to inform the other person in ordinary course, whether or not the other person knows the fact. (d) A person is deemed to have notice of a limited partnership's: (1) matters included in the certificate of formation under Sections 10A-9A-2.01(a)(1), (a)(2), (a)(3), (a)(4), if applicable, (a)(5), and (a)(6) upon filing; (2) general partner dissociating as a general partner, 90 days after the effective date of an amendment to the certificate of formation...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-9A-1.03.htm - 2K - Match Info - Similar pages
11-28-3
Section 11-28-3 Special pledges. If the county commission of any county determines to issue warrants under this chapter that are general obligations of such county, or if such county commission determines to issue warrants under this chapter that are limited obligations of such county payable solely from specified sources, then such county commission may assign and specifically pledge for the payment of the principal of and the interest on such general obligation warrants (as additional security for the payment thereof) or for the payment of the principal of and interest on such limited obligation warrants (as the sole source for the payment thereof), as the case may be, all or any portion of the funds derived from any one or more of the following sources that are not subject to previous pledges or covenants which would prevent the assignment and pledge hereby authorized, that are not required by the laws and Constitution of the State of Alabama to be devoted to other purposes, and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-28-3.htm - 4K - Match Info - Similar pages
22-27-48.1
Section 22-27-48.1 Approval process by local governing body for siting of new solid waste management facility. (a) This section applies to the siting of any new solid waste management facility, as defined in Section 22-27-2. (b) The governing body of a county or municipality shall make a discretionary decision to approve or disapprove the siting of a new solid waste management facility in accordance with this section. (c) Any person or entity seeking approval from the governing body of a county or municipality for the siting of a new solid waste management facility shall also submit to the governing body as part of its application, the application fee required under subsection (d) of Section 22-27-48 and all of the following information: (1) A written document addressing each of the criteria described in subsection (c) of Section 22-27-48. (2) The applicant's experience of owning or operating other solid waste facilities. (3) Information relating to the applicant's financial resources,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-27-48.1.htm - 8K - Match Info - Similar pages
10A-5A-4.08
Section 10A-5A-4.08 Duties of persons with direction and oversight. (a)(1) The duties a person who has the authority to direct and oversee the activities and affairs of a limited liability company owes to the limited liability company and to the members of the limited liability company include the duty of loyalty and the duty of care as described in subsections (b) and (d)(1). (2) The duties a person who has the authority to direct and oversee the activities and affairs of a series of a limited liability company owes to that series and the members associated with that series include the duty of loyalty and the duty of care as described in subsections (c) and (d)(2). (b) The duty of loyalty of a person described in subsection (a)(1) to a limited liability company and its members includes each of the following: (1) To account to the limited liability company and to hold as trustee for it any property, profit, or benefit derived by that person in the conduct or winding up of the limited...
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35-4-435
Section 35-4-435 Notice requirements for existing private transfer fee obligations. (a) The payee of a private transfer fee obligation imposed prior to May 25, 2011, shall record, prior to December 31, 2011, against the real property subject to the private transfer fee obligation, a separate document in the office of the judge of probate for each county in which the real property is located which complies with all of the following requirements: (1) The title of the document shall be "Notice of Private Transfer Fee Obligation" in at least 14-point boldface type. (2) The amount, if the private transfer fee is a flat amount, or the percentage of the sales price constituting the cost of the private transfer fee, or such other basis by which the private transfer fee is to be calculated. (3) If the real property is residential property, actual dollar-cost examples of the private transfer fee for a home priced at two hundred fifty thousand dollars ($250,000), five hundred thousand dollars...
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