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40-15B-5
Section 40-15B-5 Credits and deferrals. Except as otherwise provided in Sections 40-15B-6 and
40-15B-7, the following rules apply to credits and deferrals of estate taxes: (1) A credit
resulting from the payment of gift taxes or from estate taxes paid on property previously
taxed inures ratably to the benefit of all persons to which the estate tax is apportioned.
(2) A credit for state or foreign estate taxes inures ratably to the benefit of all persons
to which the estate tax is apportioned, except that the amount of a credit for a state or
foreign tax paid by a beneficiary of the property on which the state or foreign tax was imposed,
directly or by a charge against the property, inures to the benefit of the beneficiary. (3)
If payment of a portion of an estate tax is deferred because of the inclusion in the gross
estate of a particular interest in property, the benefit of the deferral inures ratably to
the persons to which the estate tax attributable to the interest is apportioned....
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45-8-241.60
Section 45-8-241.60 Definitions. The following words, terms, and phrases, when used in this
subpart shall have the meanings ascribed to them in this section, except where the context
clearly indicates a different meaning: (1) PERSON. Any natural person, firm, partnership,
association, corporation, receiver, trust, estate, or other entity, or any other group or
combination of any thereof acting as a unit. (2) LICENSE COMMISSIONER. The License Commissioner
of Calhoun County, Alabama. (3) COUNTY. Calhoun County, Alabama. (4) BUSINESS. All activities
engaged in, or caused to be engaged in, by any person with the object of gain, profit, benefit,
or advantage, either direct or indirect to such person. (5) GROSS PROCEEDS. The value proceeding
or accruing from the leasing or rental of tangible personal property, without any deduction
on account of the cost of the property so leased or rented, the cost of materials used, labor,
or service cost, interest paid or any other expenses whatsoever,...
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8-8-14
Section 8-8-14 Interest surcharge on loans or credit sales; refunds; maximum interest rate
indexed to prime rate; maximum interest rates for open-end credit plans. (a) In addition to
other lawful charges under various state laws, and notwithstanding any restrictions thereunder,
a legal licensed lending institution, a vendor making credit sales, any financial institution
operating in Alabama or any individual may, if provided in the contract, charge and collect
at the time of making a loan or credit sale, on each contract of loan or credit sale, an interest
surcharge of not more than six percent of the part of the amount financed, which is not in
excess of two thousand dollars ($2000). In addition to any rebate to which the debtor is otherwise
entitled, when any contract upon which an interest surcharge has been charged is prepaid in
full by any means within 90 days of date of the contract, the creditor shall refund or credit
the debtor with a pro rata portion of the interest surcharge,...
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10-13-2
Section 10-13-2 Definitions. As used in this chapter, unless the context otherwise requires,
the following words shall have the meanings respectively ascribed to them: (1) REAL ESTATE
INVESTMENT TRUST. An unincorporated trust or association in which property is acquired, held,
managed, administered, controlled, invested, or disposed of for the benefit and profit of
any person who may become shareholder or an entity that otherwise complies with the provisions
of 26 U.S.C. Sections 856 to 858, inclusive, of the U.S. Internal Revenue Code, and the rulings
and regulations adopted thereunder. (2) SHARE. A transferable unit of beneficial interest
in a real estate investment trust. (3) SHAREHOLDER. The holder of a transferable unit of beneficial
interest in a real estate investment trust. (Acts 1995, No. 95-628, p. 1317, §2.)...
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19-3B-505
Section 19-3B-505 Creditor's claim against settlor. (a) Whether or not the terms of a trust
contain a spendthrift provision, the following rules apply: (1) During the lifetime of the
settlor, the property of a revocable trust is subject to claims of the settlor's creditors.
(2) With respect to an irrevocable trust, a creditor or assignee of the settlor may reach
the maximum amount that can be distributed to or for the settlor's benefit. If a trust has
more than one settlor, then the amount the creditor or assignee of a particular settlor may
reach may not exceed the settlor's interest in the portion of the trust attributable to that
settlor's contribution. (3) After the death of a settlor, and subject to the settlor's right
to direct the source from which liabilities will be paid, the property of a trust that was
revocable immediately prior to the settlor's death is subject to claims of the settlor's creditors,
costs of administration of the settlor's estate, the expenses of the...
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25-4-31
Section 25-4-31 Treasurer; separate accounts; disposition of interest and penalties. (a) The
secretary shall designate an employee of the unemployment compensation agency as treasurer
of the fund who shall pay all vouchers or checks duly drawn upon the fund, in such manner
as the secretary may prescribe. The secretary shall also designate an employee of the unemployment
compensation agency as alternate treasurer who, in case of extended absence of the treasurer
shall, upon written notice from the secretary, perform all duties of the treasurer. The treasurer
shall maintain within the fund the following separate accounts: A clearing account; an unemployment
trust fund account; an unemployment benefit payment account; a fraud interest penalty account;
and such other account or accounts as may be necessary for the payment of any federal unemployment
benefits. All moneys payable to the fund, upon receipt thereof by the secretary, shall be
forwarded to the treasurer who shall immediately...
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26-1A-114
Section 26-1A-114 Agent's duties. (a) Notwithstanding provisions in the power of attorney,
an agent that has accepted appointment shall: (1) act in accordance with the principal's reasonable
expectations to the extent actually known by the agent and, otherwise, in the principal's
best interest; (2) act in good faith; and (3) act only within the scope of authority granted
in the power of attorney. (b) Except as otherwise provided in the power of attorney, an agent
that has accepted appointment shall: (1) act loyally for the principal's benefit; (2) act
so as not to create a conflict of interest that impairs the agent's ability to act impartially
in the principal's best interest; (3) act with the care, competence, and diligence ordinarily
exercised by agents in similar circumstances; (4) keep a record of all receipts, disbursements,
and transactions made on behalf of the principal; (5) cooperate with a person that has authority
to make health care decisions for the principal to carry out...
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5-8A-33
Section 5-8A-33 Negotiation of loans, granting of security, etc., on behalf of closed bank.
(a) The receiver is authorized to borrow money and pledge the assets of a bank in liquidation
for protecting and preserving its assets, for paying secured claims, for aiding in the reorganization
or reopening of such bank or for making distribution to depositors and creditors when, in
the judgment of the receiver, the borrowing of such funds would be to the interest of the
depositors and creditors. (b) For any loan negotiated under the authority vested by this article,
the receiver may execute a note therefor, renew the same from time to time and do all things
he considers necessary until the same has been paid. Such note or renewal or any mortgage
or contract to be executed for the purpose hereof shall be signed by giving the name of the
bank, followed by the words: "In liquidation," "By ___ (the name of the receiver)
receiver." Any note or other contract executed for the purpose hereof...
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6-6-185
Section 6-6-185 Complaint for discovery of assets - Orders or judgments; appointment of receiver.
If, from the answer, it appears that the defendant has property, real and personal, or an
interest in property, real or personal, subject to the payment of debts, or has money, effects,
or choses in action or an interest in moneys, effects, or choses in action subject to the
payment of debts, whether such property, money, effects, or choses in action are within or
without the state, the court must make all such orders or judgments as may be necessary and
proper to reach and subject such property, moneys, effects, or choses in action and, for that
purpose, may appoint a receiver with authority to demand, commence an action for and recover
or otherwise to reduce to possession such property, moneys, effects, or choses in action and
may require the debtor to make to such receiver all conveyances, assignments, or transfers
which may be necessary and proper to enable him to receive or to...
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10A-10-1.02
Section 10A-10-1.02 Definitions. As used in this chapter, unless the context otherwise requires,
the following words shall have the meanings respectively ascribed to them: (1) REAL ESTATE
INVESTMENT TRUST. An unincorporated trust or association in which property is acquired, held,
managed, administered, controlled, invested, or disposed of for the benefit and profit of
any person who may become a shareholder or an entity that otherwise complies with the provisions
of 26 U.S.C. Sections 856 to 860, inclusive, of the U.S. Internal Revenue Code, as amended
from time to time, and the rulings and regulations adopted thereunder. (2) SHARE. A transferable
unit of beneficial interest in a real estate investment trust. (3) SHAREHOLDER. The holder
of a transferable unit of beneficial interest in a real estate investment trust. (Acts 1995,
No. 95-628, p. 1317, §2; §10-13-2; amended and renumbered by Act 2009-513, p. 967, §308.)...
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