7-4-207
Section 7-4-207 Transfer warranties. (a) A customer or collecting bank that transfers an item and receives a settlement or other consideration warrants to the transferee and to any subsequent collecting bank that: (1) The warrantor is a person entitled to enforce the item; (2) All signatures on the item are authentic and authorized; (3) The item has not been altered; (4) The item is not subject to a defense or claim in recoupment (Section 7-3-305(a)) of any party that can be asserted against the warrantor; and (5) The warrantor has no knowledge of any insolvency proceeding commenced with respect to the maker or acceptor or, in the case of an unaccepted draft, the drawer. (b) If an item is dishonored, a customer or collecting bank transferring the item and receiving settlement or other consideration is obliged to pay the amount due on the item (i) according to the terms of the item at the time it was transferred, or (ii) if the transfer was of an incomplete item, according to its terms...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-4-207.htm - 2K - Match Info - Similar pages
12-15-102
law. This term shall not apply to any of the following: a. An offense when committed by a child 16 or 17 years of age as follows: 1. A nonfelony traffic offense or water safety offense other than one charged pursuant to Section 32-5A-191 or 32-5A-191.3 or a municipal ordinance prohibiting the same conduct. 2. A capital offense. 3. A Class A felony. 4. A felony which has as an element the use of a deadly weapon. 5. A felony which has as an element the causing of death or serious physical injury. 6. A felony which has as an element the use of a dangerous instrument against any person who is one of the following: (i) A law enforcement officer or official. (ii) A correctional officer or official. (iii) A parole or probation officer or official. (iv) A juvenile court probation officer or official. (v) A district attorney or other prosecuting officer or official. (vi) A judge or judicial official. (vii) A court officer or official. (viii) A person who is a grand juror, juror, or witness...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/12-15-102.htm - 12K - Match Info - Similar pages
19-1A-2
or liability is itself an electronic record. (11) "Electronic" means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. (12) "Electronic communication" has the meaning set forth in 18 U.S.C. Section 2510(12), as amended. (13) "Electronic-communication service" means a custodian that provides to a user the ability to send or receive an electronic communication. (14) "Fiduciary" means an original, additional, or successor personal representative, conservator, agent, or trustee. (15) "Good faith" means honesty in fact and reasonable under the circumstances. (16) "Information" means data, text, images, videos, sounds, codes, computer programs, software, databases, or the like. (17) "Online tool" means an electronic service provided by a custodian that allows the user, in an agreement distinct from the terms-of-service agreement between the custodian and user, to provide directions for disclosure or nondisclosure of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-1A-2.htm - 5K - Match Info - Similar pages
19-3B-604
Section 19-3B-604 Limitation on action contesting validity of revocable trust; distribution of trust property. (a) A person may commence a judicial proceeding to contest the validity of all or part of the terms of a trust that was revocable at the settlor's death within the earlier of: (1) two years after the settlor's death; or (2) six months after the trustee sent the person a copy of the trust instrument and a notice informing the person of the trust's existence, of the trustee's name and address, and of the time allowed for commencing a proceeding. (b) Upon the death of the settlor of a trust that was revocable at the settlor's death, the trustee may proceed to distribute the trust property in accordance with the terms of the trust. The trustee is not subject to liability for doing so unless: (1) the trustee has actual knowledge of a pending judicial proceeding contesting the validity of all or part of the terms of the trust; or (2) if, prior to the trustee's actual distribution, a...
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19-3D-19
Section 19-3D-19 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION, EFFECTIVE JANUARY 1, 2019. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. TAX-RELATED LIMITATIONS. (a) In this section the following terms have the following meanings: (1) GRANTOR TRUST. A trust as to which a settlor of a first trust is considered the owner under 26 U.S.C. Sections 671 through 677, as amended, or 26 U.S.C. Section 679, as amended. (2) INTERNAL REVENUE CODE. The United States Internal Revenue Code of 1986, as amended. (3) NONGRANTOR TRUST. A trust that is not a grantor trust. (4) QUALIFIED BENEFITS PROPERTY. Property subject to the minimum distribution requirements of 26 U.S.C. Section 401(a)(9), as amended, and any applicable regulations, or to any similar requirements that refer to 26 U.S.C. Section 401(a)(9) or the regulations. (b) An exercise of the decanting power is subject to the following limitations: (1) If a first trust contains property that qualified, or would have...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-3D-19.htm - 8K - Match Info - Similar pages
27-40-15
Section 27-40-15 Premium financed to be sent to insurance company, agent, or surplus lines broker; issuance of drafts, etc.; duties with respect to cancellation. (a) The amount of premium financed, more specifically referred to as "the principal balance" in paragraph c. of subdivision (3) of subsection (a) of Section 27-40-8, shall be sent to the insurance company or companies, or the agent or surplus lines broker. (b) All drafts, checks, or other orders of payment issued for premiums financed shall be issued by or on behalf of the premium finance company and shall be mailed, delivered, or otherwise transmitted directly to the insurance company or its agent, or surplus lines broker. Any check, draft, or other order or form of payment to any insurance agent, insurance broker, managing general agent, or other person, when issued shall be presumed to have been issued by the duly authorized agent of the premium finance company which provided the checks or drafts to the person issuing the...
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35-10-92
Section 35-10-92 Submission of a satisfaction of a security instrument for recording. (a) A secured creditor shall submit for recording a satisfaction of a security instrument within 30 days after the creditor receives full payment and performance of the secured obligation, and the secured creditor has no obligation to make advances, incur obligations, or otherwise give value under any agreement. Equity line security instruments are fully paid and performed only if, in addition to full payment and performance, the equity line previously has been closed pursuant to the request of the entitled person or the entitled person's authorized agent or otherwise closed as provided by law and all secured obligations have been paid in full. (b) Notwithstanding anything to the contrary in this article, any notification demanding satisfaction of the security instrument must be sent to the secured creditor's address by a method that also provides proof of receipt by the secured creditor. (c) A...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-10-92.htm - 3K - Match Info - Similar pages
35-12-78
Section 35-12-78 Notification of abandoned property. (a) It is specifically recognized that the state has an obligation to make an effort to notify apparent owners of abandoned property in a cost-effective manner. (b) The Treasurer shall make at least one active attempt to notify apparent owners of the existence of abandoned property held by the office of the Treasurer. Within 12 months of the receipt of the property, the Treasurer shall mail a postcard notification to the apparent owner containing all of the following information set forth in the report filed by the holder: (1) The name of each person appearing to be the owner of the property. (2) The last known address or location of each person appearing to be the owner of the property. (3) A statement explaining that the property of the apparent owner is presumed to be abandoned and has been delivered into the protective custody of the Treasurer. (4) A statement that information about the property and its return to the owner is...
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5-25-5
Section 5-25-5 Application for license. (a) An application for a license under this chapter shall be made in writing, under oath, and in the form as the department may prescribe. (b) The application shall include all of the following: (1) The legal name, business address, and telephone number of the applicant and, if the applicant is a partnership, association, corporation, or other group of individuals, however organized, the legal name, residence, and business address of every principal, together with the resume of the applicant and of every principal of the applicant. (2) The name under which the applicant will conduct business in the state. (3) The complete address of the applicant's initial registered office and any other locations at which the applicant will engage in any business activity covered by this chapter. (4) Any other data, financial statements, and pertinent information as the department may require with respect to the applicant, its directors, principals, trustees,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-25-5.htm - 4K - Match Info - Similar pages
34-37-1
Section 34-37-1 Definitions. For purposes of this chapter, the following terms shall have meanings respectively ascribed to them herein unless the context clearly requires a different meaning: (1) APPRENTICE GAS FITTER OR PLUMBER. A person other than a master or journeyman gas fitter or plumber, who is engaged in learning and assisting in the installation of gas pipe, equipment, apparatus, and appliances, and shall work directly under the supervision of a journeyman or master gas fitter or plumber, and who has successfully fulfilled the registration requirements of the board and has been duly registered by the board as such for the current year. The apprentice shall have in his or her possession a current annual certificate. The certificate shall be available for inspection on request. (2) BOARD. The State of Alabama Plumbers and Gas Fitters Examining Board as renamed by this chapter. The board shall examine, certify, and regulate plumbers, gas fitters, and medical gas piping fitters...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/34-37-1.htm - 7K - Match Info - Similar pages
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