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16-33C-10
Section 16-33C-10 ACES Program generally. (a) The ACES Program is established as one college
savings alternative under the plan whereby contributors open ACES savings accounts according
to savings agreements for the payment of qualified higher education costs for a designated
beneficiary at eligible educational institutions, terms as defined in Section 529 of the Internal
Revenue Code of 1986, as amended, or other applicable federal law. The ACES Program includes
the ACES Trust Fund, the ACES Administrative Fund, and the ACES Opportunity Enhancement Fund
created pursuant to this chapter. The ACES Program may be marketed under a different name
than ACES. (b) The ACES Trust Fund is hereby created and shall be comprised of separate ACES
savings accounts held in segregated accounts as established by savings agreements. Funds contributed
to the ACES savings accounts established pursuant to the ACES Program are held in trust by
the Savings Board for the sole benefit of the contributor and...
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17-5-7
and any proceeds from investing the contributions that are in excess of any amount necessary
to defray expenditures of the candidate, public official, or principal campaign committee,
for the following purposes: (1) Necessary and ordinary expenditures of the campaign. (2) Expenditures
that are reasonably related to performing the duties of the office held. For purposes of this
section, expenditures that are reasonably related to performing the duties of the office held
do not include personal and legislative living expenses, as defined in this chapter.
(3) Donations to the State General Fund, the Education Trust Fund, or equivalent county or
municipal funds. (4) Donations to an organization to which a federal income tax deduction
is permitted under subparagraph (A) of paragraph (1) of subsection (b) of Section 170 of the
Internal Revenue Code of 1986, as amended, or any other charitable, educational, or eleemosynary
cause of Section 501 of Title 26 of the U. S. Code. (5)...
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22-21-323
hospital tax proceeds) out of which any such securities are payable, the rights or duties of
the parties to such instrument or the parties for the benefit of whom such instrument is made
and the rights and remedies of such parties in the event of default, and may also contain
provisions restricting the individual rights of action of the holders of any such securities.
Any such indenture may be filed in the office of the judge of probate of any county in which
any of the property, real, personal or mixed, subject to the lien thereof is, or is
anticipated to be, located, and the lien of such indenture shall, with respect to all personal
property and fixtures subject thereto (including after-acquired property) and notwithstanding
any contrary provisions of, and without compliance with, the Alabama Uniform Commercial Code
(Title 7), be valid and binding against all parties having claims of any kind against the
authority, irrespective of whether the parties have actual notice thereof,...
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27-14-3
Section 27-14-3 Insurable interest - Personal insurance; preneed contracts. (a) Insurable
interest with reference to personal insurance is an interest based upon a reasonable
expectation of pecuniary advantage through the continued life, health, or bodily safety of
another person and consequent loss by reason of his or her death or disability or a substantial
interest engendered by love and affection in the case of individuals closely related by blood
or by law. (b) An individual has an unlimited insurable interest in his or her own life, health,
and bodily safety and may lawfully take out a policy of insurance on his or her own life,
health, or bodily safety and have the same made payable to whomsoever he or she pleases, regardless
of whether the beneficiary so designated has an insurable interest. (c) A corporation, foreign
or domestic, has an insurable interest in the life or physical or mental ability of any of
its directors, officers, or employees, or the directors, officers, or...
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27-17A-31
Section 27-17A-31 Deposits into trust; trustee responsibilities; interests in funds. (a) Any
person who is paid, collects, or receives funds under a preneed contract for funeral services
or funeral merchandise to be funded by trust shall deposit in trust an amount at least equal
to the sum of 75 percent of the amount collected on the purchase price for all funeral services
and funeral merchandise sold, transportation, and facilities rented other than outer burial
containers, 60 percent of the amount collected on the purchase price for outer burial containers,
110 percent of the wholesale cost of memorials from the amount collected on the purchase price
of memorials, and 100 percent of the amount collected on the purchase price for all cash advance
items sold. (b) All deposits shall be made within 30 days after the end of the calendar month
in which the preneed contract is paid in full, unless, prior to that time, all liabilities
of the seller under the preneed contract to deliver the...
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38-9B-2
CO-TRUSTEE. Any person named by the settlor to work with the trustee in providing benefits
to a life beneficiary, except neither a contributor nor a contributor's spouse shall be the
co-trustee if the contributor or the contributor's spouse is the life beneficiary. (9) DEPARTMENT.
The Alabama Department of Mental Health. (10) IMPAIRMENT. A mental or physical disability
that substantially limits one or more major life activities, whether the impairment is congenital
or acquired by accident, injury, age, or disease, and where the impairment is verified
by medical findings that meet the medical-vocational requirements for a finding of disability
under Section 223(d) of the Social Security Act, 42 U.S.C. Section 423(d), or under Section
1614 of the Social Security Act, 42 U.S.C. Section 1382c. (11) LIFE BENEFICIARY. A beneficiary
designated by a settlor. (12) NET INCOME. The earnings received on investments less expenses
and fees for administration. (13) REQUESTING PARTY. The party...
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40-18-15
provisions of 26 U.S.C. §§ 163, 264, and 265. (3) The following taxes paid or accrued within
the taxable year: a. Income taxes, Federal Insurance Contribution Act taxes, taxes on self-employment
income and estate and gift taxes imposed by authority of the United States or any possession
of the United States. b. State and local, and foreign, occupational license taxes, and contributions
to state unemployment funds. c. State and local, and foreign, real property taxes. d. State
and local personal property taxes. e. The generation-skipping transfer (GST) tax imposed
on income distributions by 26 U.S.C. § 2601. f. The taxes described in paragraphs c., d.,
and e. shall be deductible only to the extent that the taxes are deductible for federal income
tax purposes under 26 U.S.C. § 164 (relating to taxes). g. In addition, there shall be allowed
as a deduction, state and local, and foreign taxes, except income taxes, and taxes imposed
by authority of the United States or any possession...
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11-101A-14
the application and use of any revenues out of which any securities are payable, the rights
or duties of the parties to the instrument or the parties for the benefit of whom the instrument
is made, and the rights and remedies of the parties in the event of default. It may also contain
provisions restricting the individual rights of action of the holders of any securities. Any
indenture may be filed in the office of the judge of probate of any county in which any of
the property, real, personal, or mixed, subject to the lien thereof is, or is anticipated
to be, located, and the lien of the indenture shall, with respect to all personal property
and fixtures subject thereto, including after-acquired property, and notwithstanding any contrary
provisions of, and without compliance with, the Alabama Uniform Commercial Code, Title 7,
be valid and binding against all parties having claims of any kind against the authority,
irrespective of whether the parties have actual notice thereof,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-101A-14.htm - 4K - Match Info - Similar pages
2-6-117
Section 2-6-117 Disposition of refunding bond proceeds. (a) The proceeds of refunding bonds
shall be applied, together with any other moneys legally available, to the payment of the
expenses authorized by this article and to the payment of the principal of, premium, if any,
and interest due and to become due on any outstanding bonds to be refunded. The expenses authorized
by this article shall include, in addition to other expenses authorized by this article, all
expenses that the board of directors may deem necessary or advantageous in connection with
the sale and issuance of refunding bonds, including, without limitation, the expenses of selling
and issuing such refunding bonds, including any discount reflected in the purchase price paid
to the corporation, fees and disbursements of attorneys, accountants, fiscal agents, financial
advisors, and other consultants, fees and disbursements of trustees, escrow agents, registrars,
paying agents, transfer agents, depositories for...
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27-17A-32
Section 27-17A-32 Rights of seller; powers and duties of trustee. (a) If amounts paid by the
purchaser under a preneed contract for funeral merchandise have previously been deposited
in trust, the seller may withdraw the principal amount and trust appreciation attributable
to the delivered item at such time as the funeral merchandise is delivered or installed or,
if comprised of materials designed to withstand prolonged, protected storage without deterioration,
the merchandise is placed in storage with a responsible third party bonded and insured for
the wholesale value thereof and evidenced by a receipt specifically identifying the item,
the specific preneed contract, the location of the item, and the identity and address of the
bonding and insuring parties. For purposes of this subsection only, caskets and alternative
containers may not be held in storage by the seller or a third party storage facility prior
to the death of the funeral beneficiary. (b) The trustee shall make regular...
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