5-13B-111
Section 5-13B-111 Asset maintenance. (a) Each foreign bank which is licensed to establish and maintain an Alabama state branch or Alabama state agency shall hold in this state currency, bonds, notes, debentures, drafts, bills of exchange, or other evidences of indebtedness, including loan participation agreements or certificates, or other obligations payable in the United States or in United States funds or, with the prior approval of the superintendent, in funds freely convertible into United States funds, or such other assets as the superintendent shall by regulation or order permit, in an amount which shall bear such relationship as the superintendent shall by regulation or order prescribe to liabilities of such foreign bank payable at or through its Alabama state branch or Alabama state agency, including acceptances, but excluding amounts due and other liabilities to other offices, agencies, or branches of, and wholly owned, except for a nominal number of directors' shares,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-13B-111.htm - 4K - Match Info - Similar pages
11-81-19
Section 11-81-19 Investment of sinking funds generally; reports as to investment or deposit of sinking funds; contracts for purchase of savings certificates. All sinking funds provided for the retirement of bonds shall be invested in bonds of such subdivision or in bonds of the United States or in bonds of the State of Alabama or in bonds of any county in the State of Alabama or any municipal corporation of the State of Alabama, or deposited in a bank on interest; provided, however, that the proceedings authorizing any funding or refunding bonds may prohibit the investment of the sinking fund for such bonds and require that such sinking fund shall be used exclusively in the purchase for retirement or in the redemption of such funding or refunding bonds. All sinking funds created by resolutions or ordinance heretofore adopted must be properly set aside each year in accordance with the resolution or ordinance providing for the same and a report made thereof and filed with the clerk of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-81-19.htm - 1K - Match Info - Similar pages
23-7-27
Section 23-7-27 Construction and use of bonds. (a) The bonds issued by the bank are legal investments in which all public officers or public bodies of the state, its political subdivisions, all municipalities and political subdivisions, all insurance companies and associations and other persons carrying on insurance business, all banks, bankers, banking associations, trust companies, savings banks, savings associations, including savings and loan association investment companies, and other persons carrying on a banking business, all administrators, guardians, executors, trustees, and other fiduciaries, and all other persons who are now or may be authorized in the future to invest in bonds or other obligations of the state, may invest funds in their control or belonging to them. (b) The bonds of the bank are also securities which may be deposited with and received by all public officers and bodies of the state or any agency or political subdivision of the state and all municipalities...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-7-27.htm - 1K - Match Info - Similar pages
40-22-3
Section 40-22-3 Tax on mortgages not applicable to any bank unless applicable to all. The term "bank" as used in this section shall be held to mean a corporation holding a charter issued by the Comptroller of the United States or the banking authorities of the State of Alabama and duly authorized to receive funds on deposit, to be repaid on demand, and to carry on the general business of banking and subject to all the laws of the state applicable to corporations carrying on the business of banking. No tax as levied by the state in the recording of mortgages of whatever kind filed for record in the probate court in any county in the state shall be levied upon or collected from any bank in this state unless the said tax shall be applicable to and collected from all banks and banking institutions doing business in the State of Alabama. (Acts 1947, No. 181, p. 66.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-22-3.htm - 1K - Match Info - Similar pages
22-29-1
Section 22-29-1 Definitions. For the purposes of this chapter, unless otherwise indicated, the following terms shall have the meanings respectively ascribed to them by this section: (1) AUTHORITY. The public corporation organized pursuant to the provisions of this chapter as a public corporation, agency and instrumentality of the state. (2) AUTHORIZING RESOLUTION. A resolution or order adopted by the board of directors authorizing the issuance of bonds by the authority or providing for an indenture of trust under and pursuant to which its bonds are to be issued. (3) BOARD OF DIRECTORS. The board of directors of the authority. (4) BOARD. The State Board of Health of the State of Alabama or the State Committee of Public Health or the State Health Officer, whichever at the time has the authority to act in health matters pursuant to Sections 22-1-3, 22-2-1, 22-2-2, 22-2-6 and 22-2-8. (5) BONDS. The bonds issued by the authority under the provisions of this chapter. (6) BOND SERVICE...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-29-1.htm - 3K - Match Info - Similar pages
23-1-157
Section 23-1-157 Bonds - Generally. (a) The bonds of the corporation shall be signed by its president or vice president and attested by its secretary; provided, that a facsimile of the signature of the officers may be imprinted or otherwise reproduced on any such bonds in lieu of his or her signing the same. The seal of the corporation shall be affixed to such bonds; provided, that a facsimile of the seal may be imprinted or otherwise reproduced on any such bonds in lieu of being manually affixed thereon. (b) Any bonds of the corporation may be executed and delivered at any time and from time to time, shall be in such form and denominations and of such tenor and maturities, shall bear such rate or rates of interest payable and evidenced in such manner, may contain provisions for redemption prior to maturity and may contain other provisions not inconsistent with this article, all as may be provided by the resolution of the board of directors whereunder such bonds are authorized to be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-1-157.htm - 6K - Match Info - Similar pages
40-17-361
Section 40-17-361 Disposition of diesel proceeds. (a) The proceeds of the thirteen cents ($.13) diesel excise tax imposed by this article, when collected, shall be applied as follows: (1) For payment of the costs of collection thereof, being the amount appropriated for each fiscal year by the Legislature to the department for the administration of this article. (2) For payment of the principal of and interest on bonds issued after October 1, 1969, and prior to December 1, 1977, by the Alabama Highway Authority, a public corporation and instrumentality of the state, all in the manner and to the extent and subject to the priorities as to rank as are provided in the respective statutes under which the bonds were issued. (3) For payment of the principal of and interest on bonds and other obligations, including refunding obligations, issued after December 1, 1977, by a public corporation existing at the time of issuance under the laws of Alabama pursuant to then existing statutory or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-17-361.htm - 3K - Match Info - Similar pages
40-18-35
Section 40-18-35 Deductions allowed to corporations. (a) The following items shall be deducted from federal taxable income for purposes of computing taxable income under this chapter: (1) Refunds of state and local income taxes. (2) Federal income tax paid or accrued during the taxpayer's taxable year. The portion of federal income tax deductible by a corporation earning income from sources both inside and outside of Alabama shall be determined by the ratio that the corporation's taxable income, computed without the deduction for federal income tax, apportioned and allocated to Alabama bears to the corporation's taxable income, computed without the deduction for federal income tax, apportioned and allocated everywhere. (3) Interest income earned on obligations of the United States. (4)a. Interest income earned on obligations of the State of Alabama or its subdivisions or instrumentalities thereof to the extent included in gross income for the purposes of federal income taxation. b....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-35.htm - 9K - Match Info - Similar pages
5-13B-80
Section 5-13B-80 Purpose. Consistent with the federal International Banking Act, the Bank Holding Company Act, the Federal Deposit Insurance Act, and the Interstate Banking and Branching Efficiency Act, this division is intended: (1) To authorize banking activities and operations, under state licenses issued by the superintendent, of direct branch and agency offices in this state of foreign banks, generally under terms and conditions not less favorable than the terms and conditions under which such activities and operations may be conducted by federal branch or agency offices of foreign banks in the United States, and to set forth a statutory framework for the licensing, regulation, and supervision of such state-licensed offices of foreign banks by the superintendent to assure the safe and sound operation of such offices that are licensed under the laws of this state; and (2) To authorize representative offices in this state of foreign banks, and to set forth statutory provisions...
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9-10-38
Section 9-10-38 Security for bonds. (a) At the discretion of the corporation, any bonds issued under the provisions of this article may be secured by a trust agreement by and between the corporation and a corporate trustee, which may be any trust company or bank having the powers of a trust company within or without the state. The trust agreement or the resolution providing for the issuance of such bonds, subject to the provisions of Section 9-10-35, may pledge or assign tolls, rentals, sales receipts or other revenues to which the corporation's right then exists or which may thereafter come into existence and the moneys derived therefrom and the proceeds of such bonds; provided, however, that the trust agreement or resolution shall not convey or mortgage any project or any part thereof. (b) Such trust agreement or resolution providing for the issuance of bonds may contain such provisions for protecting and enforcing the rights and remedies of the bondholders as may be reasonable and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/9-10-38.htm - 4K - Match Info - Similar pages
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