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36-27-25
Section 36-27-25 Funds for assets of retirement system - Management. (a) The Board of Control
shall be the trustees of the several funds of the Employees' Retirement System created by
this article as provided in Section 36-27-24 and shall have full power to invest and reinvest
the funds, through its Secretary-Treasurer in the classes of bonds, mortgages, common and
preferred stocks, shares of investment companies or mutual funds, or other investments as
the Board of Control may approve, with the care, skill, prudence, and diligence under the
circumstances then prevailing that a prudent person acting in a like capacity and familiar
with such matters would use in the conduct of an enterprise of a like character and with like
aims. Subject to like terms, conditions, limitations and restrictions, the Board of Control,
through its Secretary-Treasurer, shall have full power to hold, purchase, sell, assign, transfer,
and dispose of any investments in which the funds created in Section...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-27-25.htm - 7K - Match Info - Similar pages
9-6-8
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 acquire, receive
and take title to, by purchase, gift, lease, devise or otherwise, to hold, keep and develop
and to transfer, convey, lease, assign or otherwise dispose of property of every kind and
character, real, personal and mixed, and any and every interest therein, whether located
within or outside of the area of operation or within or outside of the State of Alabama; (7)
To acquire, purchase, construct, own, operate, maintain, enlarge, extend and improve any equipment,
plant, apparatus or system of whatever kind and character used or which may be useful in connection
with the control, abatement or prevention of water, air or general environmental pollution
directly or indirectly, to enter into...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/9-6-8.htm - 6K - Match Info - Similar pages
13A-8-1
7-9A-102(a)(28), in respect of property in which the secured party has a security interest,
as defined in Section 7-1-201(37). (10) PROPELLED VEHICLE. Any propelled device in, upon,
or by which any person or property is transported on land, water, or in the air, and such
term includes motor vehicles, motorcycles, motorboats, aircraft, and any vessel propelled
by machinery, whether or not that machinery is the principal source of propulsion. (11) PROPERTY.
Any money, tangible or intangible personal property, property (whether real or personal)
the location of which can be changed (including things growing on, affixed to, or found in
land and documents, although the rights represented hereby have no physical location), contract
right, chose-in-action, interest in a claim to wealth, credit, or any other article or thing
of value of any kind. Commodities of a public utility nature, such as gas, electricity, steam,
and water, constitute property, but the supplying of such a commodity to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/13A-8-1.htm - 8K - Match Info - Similar pages
41-9-682
any of the aforesaid facilities. (c) The authority shall have the following powers, together
with all powers incidental thereto or necessary to the discharge thereof: (1) To adopt, alter
and repeal bylaws, not inconsistent with the provisions of this section, for the regulation
and conduct of its affairs and business; (2) To acquire, whether by purchase, construction,
exchange, gift, lease or otherwise and to improve, maintain, equip and furnish one or more
projects, including all real and personal properties which the members of the authority
may deem necessary in connection therewith, regardless of whether or not any such projects
shall then be in existence; (3) To lease to others any or all of its projects and properties
and to charge and collect rent therefor and to terminate any such lease upon the failure of
the lessee to comply with any of the obligations thereof; (4) To receive and accept, from
any source, aid or contributions of money, property, labor or other items of value...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-9-682.htm - 13K - Match Info - Similar pages
11-50A-8
and of the parties thereto; (2) To adopt and alter a corporate seal; (3) To make and alter
at pleasure all needful bylaws, rules, and regulations for the transaction of its business
and the control of its property and affairs; (4) To have the same right of eminent domain
through condemnation conferred by Section 10-5-1, or any subsequent statute of similar import;
provided that nothing herein shall be construed to grant to the authority the power to acquire
by condemnation any real or personal property or right-of-way of any utility as the
term "utility" is defined in Section 37-4-1(7)a.; (5) To acquire in its own name
by purchase on such terms and conditions and in such manner as it may deem proper, or by exercise
of the power of eminent domain, or by gift, grant, lease, or otherwise, real property or rights
and easements therein and franchises and personal property necessary or convenient
for its corporate purposes; and to insure its property against any and all risks with...
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10A-1-1.03
limited liability company or association, a member; and (D) with respect to another foreign
or domestic entity, an owner of an equity interest in that entity. (69) OWNERSHIP INTEREST.
An owner's interest in an entity. The term includes the owner's share of profits and losses
or similar items and the right to receive distributions. The term does not include an owner's
right to participate in management or participate in the direction or oversight of the entity.
An ownership interest is personal property. (70) PARENT or PARENT ENTITY. An entity
that: (A) owns at least 50 percent of the ownership or membership interest of a subsidiary;
or (B) possesses at least 50 percent of the voting power of the owners or members of a subsidiary.
(71) PARTNER. A limited partner or general partner. (72) PARTNERSHIP. Includes a general partnership,
a limited liability partnership, a foreign limited liability partnership, a limited partnership,
a foreign limited partnership, a limited liability...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-1-1.03.htm - 25K - Match Info - Similar pages
11-3-11
to the extent required to make such connection. The cost to the county of connecting to such
system any facility used in the collection or disposal of sewage shall be reimbursed to the
county by the owner of the property on which such facility is located, and the obligation
of the owner of such property to pay such cost to the county shall be secured by a lien on
such property to be collected as other debts are collected or liens enforced. The notice required
by this subdivision shall be by personal service or by posting a notice on the premises.
Any other provisions of this subdivision to the contrary notwithstanding, no county commission
shall have the power to require any owner of property to connect to a county sewer system
if (i) the property of such owner is served by any other sewer system as of the date (the
"prospective connection date") that the construction of such county sewer system
has advanced to the point that operational sewer lines belonging to such system are...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-3-11.htm - 9K - Match Info - Similar pages
37-6-3
pledge, or otherwise dispose of or encumber electric transmission and distribution lines or
systems, electric generating plants, electric refrigeration plants, water lines, sanitary
sewer lines, water systems, and sanitary sewer systems, television reception equipment through
the use of television program decryption equipment and subscriber owned, leased, or rented
satellite dishes, lands, buildings, structures, dams, plants, and equipment and any and all
kinds and classes of real or personal property whatsoever, which shall be deemed necessary,
convenient or appropriate to accomplish the purpose for which the cooperative was organized
or in which it subsequently lawfully engages. Electric generating plants, transmission, and
distribution lines or systems as referred to in this section shall include any arrangement
or agreement for the purchase, exchange, or transmission of electric power, capacity or energy,
whether sole or as joint owner of all or any part in common with one...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-6-3.htm - 19K - Match Info - Similar pages
4-2A-15
Section 4-2A-15 Bonds as legal investments for state, public officers, public corporations,
financial institutions, insurance companies, fiduciaries, etc. REPEALED IN THE 2018 REGULAR
SESSION BY ACT 2018-152 EFFECTIVE JUNE 1, 2018. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.
(Acts 1991, No. 91-667, p. 1275, §15.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/4-2A-15.htm - 620 bytes - Match Info - Similar pages
11-101A-17
Section 11-101A-17 Securities are legal investments. Securities issued under this chapter are
hereby made legal investments for savings banks and insurance companies organized under the
laws of the state. Unless otherwise directed by the court having jurisdiction thereof or the
document that is the source of authority, a trustee, executor, administrator, guardian, or
one acting in any other fiduciary capacity may, in addition to any other investment powers
conferred by law and with the exercise of reasonable business prudence, invest trust funds
in securities of an authority. The governing body of any authorizing subdivision, or any county
or municipality in which any project of an authority may be situated, may, in its discretion,
invest in securities of the authority any idle or surplus money held in its treasury which
is not otherwise earmarked or pledged. (Act 2001-642, p. 1317, §1.)...
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