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19-3A-104
including, but not limited to: (1) The nature, purpose, and expected duration of the trust;
(2) The intent of the settlor; (3) The identity and circumstances of the beneficiaries; (4)
The needs for liquidity for the trust; (5) The regularity of income to the trust; (6) The
need for preservation and appreciation of capital; (7) The nature of the assets held in the
trust and the extent to which they consist of financial assets, interests in closely held
enterprises, tangible and intangible personal property, or real property; (8) The extent
to which an asset is used by a beneficiary; (9) Whether an asset was purchased by the trustee
or received from the settlor; (10) The net amount allocated to income under the other sections
of this chapter and the increase or decrease in the value of the principal assets, which the
trustee may estimate as to assets for which market values are not readily available; (11)
Whether and to what extent the terms of the trust a. give the trustee the power...
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19-3B-802
Section 19-3B-802 Duty of loyalty. (a) A trustee shall administer the trust solely in the interests
of the beneficiaries. (b) Subject to the rights of persons dealing with or assisting the trustee
as provided in Section 19-3B-1012, a sale, encumbrance, or other transaction involving the
investment or management of trust property entered into by the trustee for the trustee's own
personal account or which is otherwise affected by a conflict between the trustee's
fiduciary and personal interests is voidable by a beneficiary affected by the transaction
unless: (1) the transaction was authorized by the terms of the trust; (2) the transaction
was approved by the court; (3) the beneficiary did not commence a judicial proceeding within
the time allowed by Section 19-3B-1005; (4) the beneficiary consented to the trustee's conduct,
ratified the transaction, or released the trustee in compliance with Section 19-3B-1009; or
(5) the transaction involves a contract entered into or claim acquired by...
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19-1A-9
Section 19-1A-9 (Effective January 1, 2018) Disclosure of content of electronic communications
of principal. To the extent a power of attorney expressly grants an agent authority over the
content of electronic communications sent or received by the principal and unless directed
otherwise by the principal or the court, a custodian shall disclose to the agent the content
if the agent gives the custodian: (1) a written request for disclosure in physical or electronic
form; (2) an original or copy of the power of attorney expressly granting the agent authority
over the content of electronic communications of the principal; (3) a certification by the
agent, under penalty of perjury, that the power of attorney is in effect; and (4) if requested
by the custodian: (A) a number, username, address, or other unique subscriber or account identifier
assigned by the custodian to identify the principal's account; or (B) evidence linking the
account to the principal. (Act 2017-316, ยง1.)...
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11-104-5
Section 11-104-5 Funding; trust investments. (a) Subject to any limitations necessary to ensure
the tax-exempt status of a trust, the sources of funding to a trust may be any of the following:
(1) Appropriations made by the governmental entity. (2) Contributions by employees and retired
employees. (3) Employer contributions. (4) Investment income. (5) Proceeds of any gifts, grants,
or contributions. (6) Transfers from another trust or fund held by a governmental entity.
(7) Bonds, warrants, notes, or other evidence of indebtedness. (8) All other sources permitted
by law. (b) Subject to payment for fees and reasonable expenses of maintaining a trust, the
funds deposited into a trust shall be used for the exclusive purpose of funding post-employment
benefit obligations of the governmental entity or entities. The agreements creating a trust
shall be irrevocable, subject to subsection (e) of Section 11-104-3 and Section 11-104-8,
and the assets of a trust shall not be expended, disbursed,...
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19-3B-1013
Section 19-3B-1013 Certification of trust. (a) Instead of furnishing a copy of the trust instrument
to a person other than a beneficiary, the trustee may furnish to the person a certification
of trust containing the following information: (1) that the trust exists and the date the
trust instrument was executed; (2) the identity of the settlor; (3) the identity and address
of the currently acting trustee; (4) the powers of the trustee in a pending transaction or
relevant to the request; (5) the revocability or irrevocability of the trust and the identity
of any person holding a power to revoke the trust; (6) the authority of co-trustees to sign
or otherwise authenticate and whether all or less than all are required in order to exercise
powers of the trustee; (7) the trust's taxpayer identification number; and (8) the name in
which title to trust property may be taken. (b) A certification of trust may be signed or
otherwise authenticated by any trustee. (c) A certification of trust must...
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19-3B-816
Section 19-3B-816 Specific powers of trustee. (a) Without limiting the authority conferred
by Section 19-3B-815, a trustee may: (1) collect trust property and accept or reject additions
to the trust property from a settlor or any other person, including, but not being limited
to, the authority to receive, collect, hold, and retain common or preferred stock or other
interests in the trustee or any related party; (2) acquire or sell property, for cash or on
credit, at public or private sale; (3) exchange, partition, or otherwise change the character
of trust property; (4) deposit trust money in an account in a regulated financial-service
institution; (5) borrow money, with or without security, and mortgage or pledge trust property
for a period within or extending beyond the duration of the trust; (6) with respect to an
interest in a proprietorship, partnership, limited liability company, business trust, corporation,
or other form of business or enterprise, continue the business or other...
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19-3B-902
that a trustee may consider in investing and managing trust assets are such of the following
as are relevant to the trust or its beneficiaries: (1) general economic conditions; (2) the
possible effect of inflation or deflation; (3) the expected tax consequences of investment
decisions or strategies; (4) the role that each investment or course of action plays within
the overall trust portfolio, which may include financial assets, interests in closely held
enterprises, tangible and intangible personal property, and real property; (5) the
expected total return from income and the appreciation of capital; (6) other resources of
the beneficiaries; (7) needs for liquidity, regularity of income, and preservation or appreciation
of capital; (8) an asset's special relationship or special value, if any, to the purposes
of the trust or to one or more of the beneficiaries; (9) the size of the portfolio; and (10)
the purposes and estimated duration of the trust. (d) A trustee shall make a...
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7-8-103
Section 7-8-103 Rules for determining whether certain obligations and interests are securities
or financial assets. (a) A share or similar equity interest issued by a corporation, business
trust, joint stock company, or similar entity is a security. (b) An "investment company
security" is a security. "Investment company security" means a share or similar
equity interest issued by an entity that is registered as an investment company under the
federal investment company laws, an interest in a unit investment trust that is so registered,
or a face-amount certificate issued by a face-amount certificate company that is so registered.
Investment company security does not include an insurance policy or endowment policy or annuity
contract issued by an insurance company. (c) An interest in a partnership or limited liability
company is not a security unless it is dealt in or traded on securities exchanges or in securities
markets, its terms expressly provide that it is a security governed by...
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19-4-1
Section 19-4-1 Definitions. When used in this article, the following words and phrases shall
have the following meanings, respectively, unless the context clearly indicates otherwise:
(1) FIDUCIARY. An administrator, an administrator with the will annexed, an administrator
de bonis non, an executor, a trustee, a guardian, a conservator, an agent, a custodian or
a custodian or agent for another fiduciary or fiduciaries. (2) FIDUCIARY ACCOUNT. An estate,
a trust, a guardianship, a custodianship, an agency or any other fiduciary relationship, including
a custodianship or agency for another fiduciary or fiduciaries. (3) BANK. A bank or trust
company organized and existing under the laws of Alabama with authority to act as a fiduciary
and a national banking association with its principal office in the State of Alabama and with
authority to act as a fiduciary. (4) SECURITY. Any note; stock; treasury stock; bond; debenture;
evidence of indebtedness; certificate of interest or participation in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-4-1.htm - 3K - Match Info - Similar pages
36-21-185
Section 36-21-185 Alabama Firefighters Annuity and Benefit Fund. (a) A special fund is established
for the purpose of providing retirement allowances and other benefits for members of the fund.
The fund shall be known as the Alabama Firefighters Annuity and Benefit Fund. All amounts
received by the board shall be paid into the fund. (b) The board shall deliver all moneys
not currently needed for the functioning of the board to the ERS for investment and reinvestment
as determined by ERS administrative policies and practices. The ERS shall charge a reasonable
fee for providing investment services to the board. The board shall comply with all administrative
policies and requests of the ERS regarding investment services provided by the ERS. The board
shall have such control of the fund as is consistent with this article and with the laws of
the state. (c) All moneys of the board not currently invested by the ERS shall be held in
a special trust account or accounts in any bank or banks in...
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