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16-17A-13
Section 16-17A-13 Investment in indebtedness. Indebtedness issued under the provisions of this
chapter is hereby made a legal investment for savings banks and insurance companies organized
under state law and for trustees, executors, administrators, guardians, persons, or organizations
acting in a fiduciary capacity, unless otherwise directed by a court having jurisdiction or
by a document providing fiduciary authority. Any governmental entity or public corporation
is authorized, in its discretion, to invest any available funds in securities of the authority.
(Act 2016-201, §13.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-17A-13.htm - 895 bytes - Match Info - Similar pages
41-10-767
Section 41-10-767 Bonds are legal investments. Bonds issued by the authority are hereby made
a legal investment for savings banks and insurance companies organized under the laws of the
state and for trustees, executors, administrators, guardians, persons or organizations acting
in a fiduciary capacity, unless otherwise directed by a court having jurisdiction or by a
document providing fiduciary authority. Any governmental entity or public corporation is authorized,
in its discretion, to invest any available funds in the bonds of the authority. (Act 2016-469,
1st Sp Sess., §18.)...
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41-15-10
Section 41-15-10 Premiums and collected earnings to constitute trust fund; surplus may be invested
in bonds, stocks, mutual funds, etc.; limitations and conditions; requisition for payment
of losses, expenses, etc. All premiums and earnings collected under the provisions of this
chapter shall constitute a trust fund to be applied as authorized in this chapter. With the
approval of the Governor, any surplus in the fund over a necessary working capital, which
shall be determined by the Director of Finance, at not less than $400,000.00, may be invested
in the bonds or other obligations of the United States, of the State of Alabama or of any
agency, institution or instrumentality of the State of Alabama. The Director of Finance shall
also have the authority to invest and reinvest said state insurance trust funds in such classes
of bonds, mortgages, common and preferred stocks, shares of investment companies or mutual
funds or other investments as the Finance Director with the consent of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-15-10.htm - 2K - Match Info - Similar pages
5-12A-1
Section 5-12A-1 Definitions. As used in this chapter, the following terms shall have the following
meanings, respectively, unless the context clearly indicates otherwise: (1) TRUST INSTITUTION.
Any state bank, any national bank or any trust company authorized to act in a fiduciary capacity
in this state and under the supervision of the Comptroller of the Currency of the United States
or the Federal Reserve System, or the Superintendent of Banks of the State of Alabama. (2)
AFFILIATED TRUST INSTITUTION. A trust institution which, together with one or more other trust
institutions, are each owned or controlled by a bank holding company which is under the supervision
of the Board of Governors of the Federal Reserve System. (3) OWNED OR CONTROLLED. The ownership
by a bank holding company of stock possessions of at least 80 percent of the voting power
of all classes of stock and at least 80 percent of each class of the nonvoting stock (other
than nonvoting stock which is limited and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-12A-1.htm - 2K - Match Info - Similar pages
22-21-146
Section 22-21-146 Bonds - Legal investment - Banks, insurers and fiduciaries. Bonds issued
under the provisions of this article are hereby made legal investments for savings banks and
insurance companies organized under the laws of the state. 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 1961, No. 109, p. 134, §21.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-146.htm - 962 bytes - Match Info - Similar pages
24-1-36
Section 24-1-36 Investment by state, fiduciaries, banks, etc., in bonds, etc., issued by authorities.
Notwithstanding any restrictions on investments contained in any laws of this state, the state
and all public officers, municipal corporations, political subdivisions other than county
and public bodies, all banks, bankers, trust companies, savings banks and institutions, building
and loan associations, savings and loan associations, investment companies, and other persons
carrying on a banking business, all insurance companies, insurance associations, and other
persons carrying on an insurance business and all executors, administrators, guardians, trustees,
and other fiduciaries may legally invest any sinking funds, moneys, or other funds belonging
to them or within their control in any bonds or other obligations issued by a housing authority
pursuant to this article or issued by any public housing authority or agency in the United
States, when such bonds or other obligations are...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/24-1-36.htm - 2K - Match Info - Similar pages
16-1-8.1
Section 16-1-8.1 Classroom instructional support. (a) For purposes of this section, classroom
instructional support means all elements of classroom instructional support as provided in
the Foundation Program, with the exception of textbook funds, as specified in Sections 16-6B-10
and 16-13-231, including, but not limited to, library enhancement, student materials, professional
development, technology, common purchases, and other classroom instructional support approved
by the State Board of Education. All funds allocated in the Foundation Program for library
enhancement, student materials, technology, professional development, and common purchases
shall be spent only for the purpose for which they were allocated. Library media specialists
shall be consulted in budgeting all library enhancement funds. (b) The procedures for ordering,
and the regulations applying to, classroom instructional support shall be as follows: (1)
BUDGET COMMITTEE. Each school shall have a budget committee. The...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-1-8.1.htm - 9K - Match Info - Similar pages
27-27-26
Section 27-27-26 Pecuniary interests of officers, etc., of domestic insurers. (a) No officer
or director of a domestic insurer, and no member of any committee or employee of a domestic
insurer who is charged with the duty of investing or handling the funds of the insurer, shall
do any of the following: (1) Deposit or invest the funds except in the corporate name of the
insurer; except, that the insurer may for its convenience hold any equity investment in a
street name or in the name of a nominee. (2) Borrow the funds of the insurer. (3) Be pecuniarily
interested in any loan, pledge or deposit, security, investment, sale, purchase, exchange,
reinsurance, or other similar transaction or property of the insurer except as follows: a.
As a stockholder or member of the insurer. b. As a holder or owner of common stock or equity-like
preferred stock in any corporation or business entity trading on a national or international
stock exchange. c. As a holder or owner of shares of mutual funds,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-27-26.htm - 3K - Match Info - Similar pages
36-21-66
Section 36-21-66 Alabama Peace Officers' Annuity and Benefit Fund created; purpose and official
designation; composition generally; investment, expenditure, etc., of moneys therein. A special
fund is established and placed under the management of the board for the purpose of providing
retirement allowances and other benefits under this article for members of the fund. The fund
shall be known as the Alabama Peace Officers' Annuity and Benefit Fund, by and in which name
all of its business shall be transacted, all of its funds invested, and all of its cash and
securities and other property held in trust for the purposes for which received. All amounts
received by the board pursuant to this article shall be paid into the fund. The board shall
have such control of the fund as shall not be inconsistent with this article and with the
laws of the state. All moneys of the board shall either be deposited into the State Treasury
or in a special trust account or accounts in any bank or banks in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-21-66.htm - 3K - Match Info - Similar pages
5-12A-7
Section 5-12A-7 Investment of estate moneys in fund; withdrawals. The trust institution shall
invest the moneys of an estate (whether the estate is administered by such trust institution
or by an affiliated trust institution) in such common trust fund by adding the same thereto
and by apportioning a participation therein to such estate in the proportion that the moneys
of the estate added thereto bears to the aggregate value of all the securities of such fund
at the time of such investment, including in such securities the moneys of the estate so added.
The withdrawal of a participation of such common trust fund shall be on the basis of its proportionate
interest in the aggregate value of all the securities of such fund at the time of such withdrawal,
as hereinafter provided. The participating interest of any estate in such common trust funds
may, from time to time, be withdrawn in whole or in part by the trust institution administering
the estate and shall be withdrawn within a period...
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