19-3-3
Section 19-3-3 Estate of trustee; termination of trust estate. Repealed by Act 2006-216, p.
314, §5, effective January 1, 2007. (Code 1923, §10433; Code 1940, T. 58, §3.)...
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10A-2-8.50
Section 10A-2-8.50 Definitions. REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE
JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. In this division: (1) "Corporation"
includes any domestic or foreign predecessor entity of a corporation in a merger or other
transaction in which the predecessor's existence ceased upon consummation of the transaction.
(2) "Director" means an individual who is or was a director of a corporation or
an individual who, while a director of a corporation, is or was serving at the corporation's
request as a director, officer, partner, trustee, employee, or agent of another foreign or
domestic corporation, partnership, joint venture, trust, employee benefit plan, or other enterprise.
A director is considered to be serving an employee benefit plan at the corporation's request
if his or her duties to the corporation also impose duties on, or otherwise involve services
by, the director to the plan or to participants in or beneficiaries of the...
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10A-5-6.06
Section 10A-5-6.06 Cessation of membership. REPEALED IN THE 2014 REGULAR SESSION BY ACT 2014-144
EFFECTIVE JANUARY 1, 2017. (a) A person ceases to be a member of a limited liability company
upon the occurrence of one or more of the following events: (1) The member ceases to be a
member by voluntary act as provided in subsection (d). (2) The member ceases to be a member
of the limited liability company as provided in Section 10A-5-6.03. (3) The member is removed
as a member in either of the following manners: a. In accordance with the operating agreement.
b. Subject to contrary provisions in the operating agreement, when the member assigns all
of the member's interest in the limited liability company, by an affirmative vote of a majority
in number of the members who have not assigned their interests. (b) Subject to contrary provisions
in the operating agreement, or written consent of all members at the time, a person ceases
to be a member upon the occurrence of one or more of the...
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19-3D-2
Section 19-3D-2 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. DEFINITIONS. In this
chapter the following terms have the following meanings: (1) APPOINTIVE PROPERTY. The property
or property interest subject to a power of appointment. (2) ASCERTAINABLE STANDARD. A standard
relating to an individual's health, education, support, or maintenance within the meaning
of 26 U.S.C. Section 2041(b)(1)(A), as amended, or 26 U.S.C. Section 2514(c)(1), as amended,
and any applicable regulations. (3) AUTHORIZED FIDUCIARY. (A) A trustee or other fiduciary,
other than a settlor, that has the discretion to distribute or direct a trustee to distribute
part or all of the principal of the first trust to one or more current beneficiaries; (B)
a special fiduciary appointed under Section 19-3D-9; or (C) a special-needs fiduciary under
Section 19-3D-13. (4) BENEFICIARY. A person that: (A) has a present or...
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19-3-120
Section 19-3-120 Classes of authorized investments; repeal of conflicting statutes. (a) Unless
otherwise authorized or directed by the court having jurisdiction thereof, or by the will,
trust agreement or other document which is the source of authority, a trustee, executor, administrator,
guardian or one acting in any other fiduciary capacity, other than as a trustee governed by
the Alabama Uniform Trust Code, with the exercise of reasonable business prudence, in addition
to any other investments now permitted by law, may invest funds in securities or investments
which, at the time of the making or purchase thereof, are included in one or more of the following
classes: (1) Bonds or other interest-bearing obligations of the United States of America,
or payment of which the United States of America has guaranteed as to both principal and interest.
(2) Bonds issued by the Federal Land Bank, under the act of Congress of the United States
of America, designated as "the Federal Farm Loan...
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19-3-100
Section 19-3-100 When trust estate may become liable. Repealed by Act 2006-216, p. 314, §5,
effective January 1, 2007. (Code 1876, §3747; Code 1886, §3504; Code 1896, §4183; Code
1907, §6085; Code 1923, §10422; Code 1940, T. 58, §39.)...
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19-3-190
Section 19-3-190 Power of circuit court to authorize removal of trust estate. Repealed by Act
2006-216, p. 314, §5, effective January 1, 2007. (Code 1876, §3744; Code 1886, §3560; Code
1896, §4179; Code 1907, §6081; Code 1923, §10418; Code 1940, T. 58, §60.)...
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19-3-323
Section 19-3-323 Termination of small trusts where continued administration too costly; actions
by trustee to carry out trust purpose. Repealed by Act 2006-216, p. 314, §5, effective January
1, 2007. (Acts 1995, No. 95-310, p. 571, §4.)...
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10A-2-7.30
Section 10A-2-7.30 Voting trust. REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE
JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) One or more shareholders
may create a voting trust, conferring on a trustee the right to vote or otherwise act for
them, by signing an agreement setting out the provisions of the trust, which may include anything
consistent with its purpose, and transferring their shares to the trustee. When a voting trust
agreement is signed, the trustee shall prepare a list of the names and addresses of all owners
of beneficial interests in the trust, together with the number and class of shares each transferred
to the trust, and deliver copies of the list and agreement to the corporation's principal
office. (b) A voting trust becomes effective on the date the first shares subject to the trust
are registered in the trustee's name. A voting trust is valid for not more than 10 years after
its effective date unless extended under subsection (c)....
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19-3-326
Section 19-3-326 Payment out of trust estate of expenses of trustee in defending or prosecuting
proceedings in good faith. Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007.
(Acts 1995, No. 95-310, p. 571, §7.)...
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