14-2-18
Section 14-2-18 Bonds - Security for deposit of governmental funds. Any bonds issued by the
authority may be used by the holders thereof as security for deposits of any funds belonging
to the state or to any instrumentality, agency or political subdivision of the state in any
instance where security for such deposits may be required or permitted by law. (Acts 1965,
No. 678, p. 1226, §19.)...
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41-10-315
Section 41-10-315 Security for deposit of governmental funds. Any bonds issued by the authority
may be used by the holders thereof as security for deposits of any funds belonging to the
state or to any instrumentality, agency or political subdivision of the state in any instance
where security for such deposits may be required or permitted by law. (Acts 1986, No. 86-546,
p. 1093, §16.)...
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41-10-505
Section 41-10-505 Security for deposit of governmental funds. Any bonds issued by the authority
may be used by the holders thereof as security for deposits of any funds belonging to the
state or to any instrumentality, agency or political subdivision of the state in any instance
where security for such deposits may be required or permitted by law. (Acts 1990, No. 90-603,
p. 1094, §16.)...
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41-10-754
Section 41-10-754 Powers of the authority. The authority shall have, in addition to all other
powers granted to it in this article, all of the following powers: (1) To have succession
by its corporate name until dissolved as herein provided. (2) To institute and defend legal
proceedings in any court of competent jurisdiction and proper venue; provided, however, that
the authority may not be sued in any nisi prius court other than the courts of the county
in which is located the principal office of the authority; and provided further that the officers,
directors, agents, and employees of the authority may not be sued for actions on behalf of
the authority in any nisi prius court other than the courts of the county in which is located
the principal office of the authority. (3) To have and to use a corporate seal and to alter
the seal at pleasure. (4) To establish a fiscal year. (5) To adopt, and from time to time,
amend and repeal, bylaws, rules, and regulations not inconsistent with...
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11-92C-8
Section 11-92C-8 Powers of authority. (a) 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,
subject to Section 11-92C-20, specified in its certificate of incorporation. (2) To sue and
be sued in its own name and to prosecute and defend civil actions in any court having jurisdiction
of the subject matter and of the parties; provided that the authority shall be deemed to be
a governmental entity as defined in Chapter 93 of this title for the purpose of limiting the
damages for which the authority may be liable. (3) To adopt and make use of a corporate seal
and to alter the seal at its pleasure. (4) To adopt and alter bylaws for the regulation and
conduct of its affairs and business. (5) To acquire, whether by purchase, construction, exchange,
gift, lease, or otherwise, and to refinance existing...
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39-2-12
Section 39-2-12 Partial and final payments of contractors by awarding authorities. (a) As used
in this section the following words shall have the meanings ascribed to them as follows: (1)
CONTRACTOR. Any natural person, partnership, company, firm, corporation, association, limited
liability company, cooperative, or other legal entity licensed by the Alabama State Licensing
Board for General Contractors. (2) NONRESIDENT CONTRACTOR. A contractor which is neither a.
organized and existing under the laws of the State of Alabama, nor b. maintains its principal
place of business in the State of Alabama. A nonresident contractor which has maintained a
permanent branch office within the State of Alabama for at least five continuous years shall
not thereafter be deemed to be a nonresident contractor so long as the contractor continues
to maintain a branch office within Alabama. (3) RETAINAGE. That money belonging to the contractor
which has been retained by the awarding authority conditioned on...
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22-3A-13
Section 22-3A-13 Tax exemption; use of bonds as security; investment in bonds. The bonds and
the income therefrom shall be exempt from all taxation in the state. Any of the bonds may
be used by the holder thereof as security for the deposit of any funds belonging to the state
or to any instrumentality or agency of the state in any instance where security for such deposits
may be required. Unless otherwise directed by the court having jurisdiction thereof, or by
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 and with the exercise of reasonable business prudence, invest trust funds in any
of the bonds. (Acts 1990, No. 90-598, §13.)...
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41-10-282
Section 41-10-282 Bonds are lawful security for state deposits; investment of state, retirement,
and other fiduciary funds in bonds of authority. Any bonds issued by the authority may be
used by the holders thereof as security for deposits of any funds belonging to the state or
to any instrumentality, agency or political subdivision of the state in any instance where
security for such deposits may be required or permitted by law. Any surplus in any state fund
and any retirement or trust fund, where the investment thereof is permitted or required by
law, may be invested in bonds issued by the authority. 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 the bonds of the authority. (Acts 1986,...
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41-10-362
Section 41-10-362 Exemption from taxation of bonds and income of authority; use of bonds as
security for deposits of state funds; investment of trust funds in bonds. The bonds and the
income therefrom shall be exempt from all taxation in the state. Any of the bonds may be used
by the holder thereof as security for the deposit of any funds belonging to the state or to
any instrumentality or agency of the state in any instance where security for such deposits
may be required by law. Unless otherwise directed by the court having jurisdiction thereof,
or by 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 any of the bonds. (Acts 1988, No. 88-475, p. 739, §13.)...
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41-10-61
Section 41-10-61 Exemption from taxation of bonds, properties, income, etc., of authority;
use of bonds as security for deposits of state funds; investment of trust funds in bonds.
(a) The properties of the authority and the income therefrom and all lease agreements made
by the authority and income therefrom shall be forever exempt from any and all taxation in
the State of Alabama. The bonds of the authority and the income therefrom shall be forever
exempt from any and all taxation in the State of Alabama. (b) Any of the bonds may be used
by the holder thereof as security for the deposit of any funds belonging to the state or to
any instrumentality or agency of the state in any instance where security for such deposits
may be required by law. (c) Unless otherwise directed by the court having jurisdiction thereof
or by 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...
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