19-3-253
Section 19-3-253 Representative of deceased sole trustee to settle with succeeding trustee. Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007. (Code 1896, §4196; Code 1907, §6101; Code 1923, §10449; Code 1940, T. 58, §64.)...
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19-3-251
Section 19-3-251 When circuit court must appoint new trustee; number of new trustees. Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007. (Code 1923, §10436; Code 1940, T. 58, §74.)...
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19-3-1
Section 19-3-1 Express trust for support, maintenance and education of relative; qualified trust under Internal Revenue Code; definitions. Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007. (Acts 1935, No. 230, p. 626; Code 1940, T. 58, §1; Acts 1982, No. 82-625, p. 1179, §1; Acts 1990, No. 90-561.)...
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19-3D-13
Section 19-3D-13 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. TRUST FOR BENEFICIARY WITH DISABILITY. (a) In this section the following terms have the following meanings: (1) BENEFICIARY WITH A DISABILITY. A beneficiary of a first trust who the authorized fiduciary believes may qualify for governmental benefits based on disability, whether or not the beneficiary currently receives those benefits or is an individual who has been adjudicated incompetent or incapacitated. (2) GOVERNMENTAL BENEFITS. Financial aid or services from a state, federal, or other public agency. (3) SPECIAL-NEEDS FIDUCIARY. With respect to a trust that has a beneficiary with a disability: (A) a trustee or other fiduciary, other than a settlor, that has discretion to distribute part or all of the principal of a first trust to one or more current beneficiaries; (B) if no trustee or fiduciary has discretion under...
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38-9B-2
Section 38-9B-2 Definitions. THIS SECTION WAS AMENDED BY ACT 2018-422 IN THE 2018 REGULAR SESSION, EFFECTIVE JANUARY 31, 2018. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. As used in this chapter, the following words shall have the following meanings: (1) ALABAMA FAMILY CHARITABLE TRUST (AFT CHARITABLE TRUST). The trust established by the board of trustees that qualifies as a tax exempt charitable entity under the United States Internal Revenue Code, to provide benefits for any individual who does not have a sufficient amount in his or her AFT Trust to meet the individual's needs. (2) ALABAMA FAMILY TRUST (AFT TRUST). The Alabama Family Trust established pursuant to this chapter. (3) ALABAMA FAMILY TRUST CORPORATION (AFT CORPORATION). An Alabama not-for-profit corporation established by the board of trustees pursuant to this chapter that qualifies as a tax exempt charitable organization under the United States Internal Revenue Code. (4) BOARD OF TRUSTEES. The Alabama Family Trust Board...
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35-9-4
Section 35-9-4 Duration of tenancy when time for termination not specified - Hiring of lodgings for indefinite term. Repealed by Act 2006-316, p. 668, §3, effective January 1, 2007. (Code 1923, §8821; Code 1940, T. 31, §4.)...
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41-14-12
Section 41-14-12 Withdrawal of bonds, securities, etc., by bank or trust company ceasing, etc., to act as state depositary. THIS SECTION WAS REPEALED BY ACT 2000-748, 2000 REGULAR SESSION, EFFECTIVE JANUARY 1, 2001. (Code 1907, §650; Code 1923, §900; Code 1940, T. 55, §388; Acts 1947, No. 411, p. 301, §5.)...
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19-3D-3
Section 19-3D-3 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. SCOPE. (a) Except as otherwise provided in subsections (b) and (c), this chapter applies to an express trust that is irrevocable, or revocable by the settlor only with the consent of the trustee or a person holding an adverse interest. (b) This chapter does not apply to a trust held solely for charitable purposes. (c) Subject to Section 19-3D-15, a trust instrument may restrict or prohibit exercise of the decanting power. (d) This chapter does not limit the power of a trustee, powerholder, or other person to distribute or appoint property in further trust or to modify a trust under the trust instrument, laws of this state other than this chapter, common law, a court order, or a nonjudicial settlement agreement. (e) This chapter does not affect the ability of a settlor to provide in a trust instrument for the distribution...
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19-3D-6
Section 19-3D-6 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. REASONABLE RELIANCE. A trustee or other person that reasonably relies on the validity of a distribution of part or all of the property of a trust to another trust, or a modification of a trust, under this chapter, laws of this state other than this chapter, or the law of another jurisdiction is not liable to any person for any action or failure to act as a result of the reliance. (Act 2018-519, §6.)...
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10A-2-3.04
Section 10A-2-3.04 Ultra vires. REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) Except as provided in subsection (b), the validity of corporate action may not be challenged on the ground that the corporation lacks or lacked power to act. (b) A corporation's power to act may be challenged: (1) In a proceeding by a shareholder against the corporation to enjoin the act; (2) In a proceeding by the corporation, directly, derivatively, or through a receiver, trustee, or other legal representative, against an incumbent or former director, officer, employee, or agent of the corporation; or (3) In a proceeding by the Attorney General under Section 10A-2-14.30. (c) In a shareholder's proceeding under subsection (b)(1) to enjoin an unauthorized corporate act, the court may enjoin or set aside the act, if equitable and if all affected persons are parties to the proceeding, and may award damages for loss, other than...
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