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11-58-7
Section 11-58-7 Bonds - Form, terms, denominations, etc.; execution, sale, delivery,
etc.; dissolution of corporation. (a) All bonds issued by a corporation organized under authority
of this chapter shall be solely and exclusively obligations of the corporation and shall not
create an obligation or debt of any municipality or county. No county or municipality shall
pledge its faith or credit for the payment of any debt incurred or bonds issued by the corporation.
(b) Bonds may be executed and delivered at any time and from time to time, may be in the form
and denominations, may be of the tenor, may be in registered or bearer form, either as to
principal or interest or both, may be payable in installments and at a time or times, not
exceeding 40 years from their issuance date, may be payable at a place or places, may bear
interest at a rate or rates payable at a place or places and evidenced in a manner, and may
contain provisions not inconsistent with this chapter as may be provided by...
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9-6-8
Section 9-6-8 Powers and duties generally. The authority shall have the following powers,
together with all powers incidental thereto or necessary to the discharge thereof in corporate
form: (1) To have succession by its corporate name for the duration of time (which may be
in perpetuity) specified in its certificate of incorporation; (2) To maintain civil actions
and have civil actions maintained against it in its corporate name, except as otherwise provided
in this chapter, and to defend civil actions against it; (3) To adopt and make use of a corporate
seal and to alter the same at pleasure; (4) To amend its certificate of incorporation by filing
in the office of the Secretary of State a certificate signed by all of the directors of the
authority setting forth the details of the amendment, such certificate to be acknowledged
in the same manner as the certificate of incorporation; (5) To adopt and alter bylaws for
the regulation and conduct of its affairs and business; (6) To...
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11-50-411
Section 11-50-411 Disposition of net profits of district; "net income" defined;
distribution of less than net income for fiscal year; availability for payment in future fiscal
years. All the net income of the gas transmission system or systems, for each fiscal year,
of a gas district incorporated under this article shall, unless otherwise provided in the
certificate of incorporation of such district, be divided, within a reasonable time after
the close of each fiscal year, among its member municipalities in proportion to the amount
of gas sold to or within each such municipality. All the net income of each gas distribution
system, for each fiscal year, of any such district shall, unless otherwise provided in its
certificate of incorporation, be distributed and paid, within a reasonable time after the
close of each fiscal year, to the municipality or municipalities within which such distribution
system is located. The term "net income" as used in the preceding two paragraphs
of this...
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15-18-179
Section 15-18-179 Application for incorporation; certificate of incorporation; amendment;
board of directors; dissolution; funding; competitive bidding laws not applicable. (a) A public
corporation may be organized as a community punishment and corrections authority pursuant
to this article in any county or group of counties located in one or more judicial circuits.
In order to incorporate the public corporation, any number of natural persons, not less than
three, who are duly qualified electors of a proposed county or counties shall first file a
written application with the county commission or any two or more thereof. The application
shall contain all of the following: (1) The names of each county commission with which the
application is filed. (2) A statement that the applicants propose to incorporate an authority
pursuant to this article. (3) The proposed location of the principal office of the authority.
(4) A statement that each of the applicants is a duly qualified elector of...
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45-36-252.06
Section 45-36-252.06 Bonds of the authority; obligations. (a) In addition to all other
powers now or hereafter granted by law, the authority shall have the following powers, together
with all powers incidental thereto or necessary to the discharge thereof in corporate form:
(1) To sell and issue bonds of the authority in order to provide funds for any corporate function,
use, or purpose, any such bonds to be payable solely out of one or more of the following:
a. Any or all proceeds or receipts from the privilege, license, or excise tax levied on the
sale, distribution, storage, use, or consumption of tobacco and certain tobacco products in
Jackson County by Section 45-36-247. b. Any or all proceeds from any tax received by
the Jackson County Commission which are required by law to be deposited to the credit of the
Jackson County Water Authority. c. The revenues derived from any water, sewer, or garbage
system or facility of the authority. (2) To pledge for payment of any bonds issued...
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11-61A-9
Section 11-61A-9 Powers. The authority shall have the following powers, together with
all incidental powers necessary: (1) To have succession by its corporate name for the duration
of time (which may be in perpetuity) specified in its certificate of incorporation. (2) To
sue and be sued in its own name in civil suits and actions. (3) To adopt and make use of a
corporate seal and to alter the seal at pleasure. (4) To adopt and alter bylaws for the regulation
and conduct of its affairs and business. (5) To acquire, receive, take, and hold, whether
by purchase, gift, lease, devise, eminent domain, or otherwise, property of every description,
whether real, personal, or mixed, and to manage the property, and to develop any undeveloped
property owned, leased, or controlled by it. An authority may not acquire or lease real property
located outside the boundaries of the municipality. An authority created under this chapter
may not exercise any power of eminent domain without a concurring...
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11-88-5
Section 11-88-5 Authorization and procedure for amendment of certificate of incorporation.
(a) The certificate of incorporation of any authority incorporated under the provisions of
this article may at any time and from time to time be amended in the manner provided in this
section. (b)(1) The board of directors of the authority shall first adopt a resolution
proposing an amendment to the certificate of incorporation which shall be set forth in full
in the resolution and which amendment may include: a. A change in the name of the authority;
b. The addition to the service area of the authority of new territory lying within the determining
county; c. Provisions for the operation of a system or facility the operation of which is
not then provided for in the certificate of incorporation of the authority and which the authority
is authorized by this article to operate; d. Any matters which might have been included in
the original certificate of incorporation; e. Provisions for the addition...
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24-1-61
Section 24-1-61 Definitions. The following terms, wherever used or referred to in this
article shall have the following respective meaning, unless a different meaning clearly appears
from the context: (1) AUTHORITY or HOUSING AUTHORITY. A public body organized as a body corporate
and politic in accordance with the provisions of this article for the purposes, with the powers
and subject to the restrictions set forth in this article. (2) COUNTY. All of the county except
that portion which lies within the territorial boundaries of any city or incorporated town.
(3) COUNTY COMMISSION. The governing body of any county. (4) HOUSING COMMISSIONER. One of
the members of an authority appointed in accordance with the provisions of this article. (5)
GOVERNMENT. Such term shall include the state and federal governments and any subdivision,
agency, or instrumentality, corporate or otherwise, of either of them. (6) STATE. The State
of Alabama. (7) FEDERAL GOVERNMENT. Such term shall include the...
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27-31B-21
Section 27-31B-21 Conversion to or merger with reciprocal insurer. (a) An association
captive insurance company or industrial insured group formed as a stock or mutual corporation
may be converted to or merged with and into a reciprocal insurer in accordance with a plan
therefor and this section. (b) A plan for this conversion or merger shall satisfy both
of the following: (1) Be fair and equitable to the shareholders, in the case of a stock insurer,
or the policyholders, in the case of a mutual insurer. (2) Provide for the purchase of the
shares of any nonconsenting shareholder of a stock insurer or the policyholder interest of
any nonconsenting policyholder of a mutual insurer in substantially the same manner and subject
to the same rights and conditions as are accorded a dissenting shareholder under Article 13,
commencing with Section 10-2B-13.01, of Chapter 2B of Title 10. (c) A conversion authorized
under subsection (a) shall satisfy all of the following: (1) The conversion shall...
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10A-2A-1.40
Section 10A-2A-1.40 Chapter definitions. Notwithstanding Section 10A-1-1.03,
as used in this chapter, unless otherwise specified or unless the context otherwise requires,
the following terms have the following meanings: (1) AUTHORIZED STOCK means the stock of all
classes and series a corporation or foreign corporation is authorized to issue. (2) BENEFICIAL
STOCKHOLDER means a person who owns the beneficial interest in stock, which is either a record
stockholder or a person on whose behalf shares of stock are registered in the name of an intermediary
or nominee. (3) CERTIFICATE OF INCORPORATION means the certificate of incorporation described
in Section 10A-2A-2.02, all amendments to the certificate of incorporation, and any
other documents permitted or required to be delivered for filing by a corporation with the
Secretary of State under this chapter or Chapter 1 that modify, amend, supplement, restate,
or replace the certificate of incorporation. After an amendment of the certificate...
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