19-3A-405
Section 19-3A-405 Rental property. To the extent the fiduciary does not account for receipts from rental property pursuant to Section 19-3A-403, the fiduciary shall allocate to income an amount received as rent of real or personal property, including an amount received for cancellation or renewal of a lease. An amount received as a refundable deposit, including a security deposit or a deposit that is to be applied as rent for future periods, shall be added to principal and held subject to the terms of the lease and is not available for distribution to a beneficiary until the fiduciary's contractual obligations have been satisfied with respect to that amount. (Act 2000-675, p. 1343, ยง1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-3A-405.htm - 1003 bytes - Match Info - Similar pages
27-7-5.3
Section 27-7-5.3 Licenses - Limited license for self-service storage facility. (a) As used in this section, the following terms shall have the following meanings: (1) LIMITED LICENSEE. A person or entity authorized to sell certain coverages for personal property maintained in self-service storage facilities pursuant to this section. (2) OCCUPANT. A person, his or her sublessee, successor, or assign entitled to the use of the storage space at a self-service storage facility under a rental agreement, to the exclusion of others. (3) OWNER. The owner, operator, lessor, or sublessor of a self-service storage facility, his or her agent, or any other person authorized by him or her to manage the self-service storage facility or to receive rent from an occupant under a rental agreement. (4) PERSONAL PROPERTY. Any movable property not affixed to land including, but not limited to, goods, wares, merchandise, motor vehicles, watercraft, and household items and furnishings. (5) RENTAL AGREEMENT....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-7-5.3.htm - 7K - Match Info - Similar pages
34-27-36
limited liability corporation, for the purpose of receiving payments contemplated in this subsection. The business organization shall not be required to be licensed under this chapter, and shall not engage in any other activity requiring a real estate license. (12) Paying or receiving any rebate from any person in a real estate transaction. (13) Inducing any party to a contract to break the contract for the purpose of substituting a new contract, where the substitution is motivated by the personal gain of the licensee. (14) If the licensee is a salesperson or associate broker, accepting a commission or other valuable consideration for performing any act for which a license is required from any person except his or her qualifying broker. (15) If a qualifying broker or company, allowing a salesperson or associate broker licensed under him or her to advertise himself or herself as a real estate agent without the name or trade name of the qualifying broker or company appearing...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/34-27-36.htm - 12K - Match Info - Similar pages
35-12-72
or its agent. c. Property not subject to paragraphs a. or b. within two years of the distribution shall remain reportable under other sections of this article. (12) Property received by a court as proceeds of a class action, and not distributed pursuant to the judgment, one year after the distribution date. (13) Property held by a court, government, governmental subdivision, agency, or instrumentality, one year after the property becomes distributable. (14) Wages or other compensation for personal services, one year after the compensation becomes payable. (15) Deposit or refund owed to a subscriber by a utility, one year after the deposit or refund becomes payable. (16) Any check, warrant, debit card, or other payment instrument drawn on or issued by the State of Alabama, outstanding and unpaid within the time frame allowed under Section 41-4-60. (17) Gift certificate, other than those exempt under Section 35-12-73, three years after June 30 of the year in which the certificate was...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-12-72.htm - 8K - Match Info - Similar pages
11-98-5.2
Section 11-98-5.2 911 Fund. (a) Effective October 1, 2013, the 911 Fund shall be created as an insured interest-bearing account into which the 911 Board shall deposit all revenues derived from the service charge levied on voice communications service providers under this chapter and all prepaid wireless 911 charges received from the department. The revenues deposited into the 911 Fund shall not be monies or property of the state and shall not be subject to appropriation by the Legislature. The 911 Board shall administer the fund and shall credit the 911 Fund all revenues received. The fund and revenues generated by the fund may only be used as provided in this chapter. (b) Effective October 1, 2013, there shall first be deducted, no more than one time during each calendar month, from the total amount of the statewide 911 charges paid over to the 911 Board during such month, a sum not to exceed one percent of the total amount, to be applied by the 911 Board exclusively for payment of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-98-5.2.htm - 11K - Match Info - Similar pages
19-3B-816
Section 19-3B-816 Specific powers of trustee. (a) Without limiting the authority conferred by Section 19-3B-815, a trustee may: (1) collect trust property and accept or reject additions to the trust property from a settlor or any other person, including, but not being limited to, the authority to receive, collect, hold, and retain common or preferred stock or other interests in the trustee or any related party; (2) acquire or sell property, for cash or on credit, at public or private sale; (3) exchange, partition, or otherwise change the character of trust property; (4) deposit trust money in an account in a regulated financial-service institution; (5) borrow money, with or without security, and mortgage or pledge trust property for a period within or extending beyond the duration of the trust; (6) with respect to an interest in a proprietorship, partnership, limited liability company, business trust, corporation, or other form of business or enterprise, continue the business or other...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-3B-816.htm - 10K - Match Info - Similar pages
34-14A-18
Section 34-14A-18 Acquisition, etc., of real property; property acquisition fund. (a) The board may acquire and hold, in its own name, real property by purchase, gift, lease, lease with the option to purchase, or other lawful means, except eminent domain, which real property is used by the board to carry out its responsibilities. The board may also transfer, sell, convey, or cause to be conveyed real property and any improvements thereon, subject to the requirements of this section. In purchasing any real property, maintaining it, or making improvements thereto, the board may expend any funds contained in the Home Builders Property Acquisition Fund established by subsection (b), and any obligations created in connection with the purchase or improvement of the real property shall not create debts, obligations, or liabilities of the State of Alabama. As used in this section, real property shall include land, lots, and all things and interests, including leasehold interests, pertaining...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/34-14A-18.htm - 3K - Match Info - Similar pages
11-47-218
own name in civil actions and to defend actions against it. (3) To adopt and make use of a corporate seal and to alter the same at pleasure. (4) To adopt, alter, and repeal bylaws, regulations, and rules, not inconsistent with this article or its certificate of incorporation, for the regulation and conduct of the affairs and business of the authority. (5) To acquire, receive, take, and hold, whether by purchase, gift, lease, devise or otherwise, property of every description, whether real, personal or mixed, and to manage the property and to develop any undeveloped property owned, leased, or controlled by it. (6) To borrow money and to sell and issue bonds for any corporate use or purposes. (7) To acquire, whether by gift, purchase, transfer, foreclosure, lease, or otherwise, to construct and to expand, improve, operate, maintain, equip, and furnish one or more projects, including all real and personal properties that its board may deem necessary in connection therewith. (8) To lease...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-47-218.htm - 12K - Match Info - Similar pages
40-9-1
Section 40-9-1 Persons and property generally. The following property and persons shall be exempt from ad valorem taxation and none other: (1) All bonds of the United States and this state and all county and municipal bonds issued by counties and municipalities in this state, all property, real and personal, of the United States and this state and of county and municipal corporations in this state; all cemeteries, all property, real and personal, used exclusively for religious worship, for schools or for purposes purely charitable; provided, that property, real or personal, owned by any educational, religious or charitable institution, society or corporation let for rent or hire or for use for business purposes shall not be exempt from taxation, notwithstanding that the income from such property shall be used exclusively for education, religious or charitable purposes; all mortgages, together with the notes, debts and credits secured thereby on real and personal property situated in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-9-1.htm - 10K - Match Info - Similar pages
34-27-58
Section 34-27-58 Acts constituting violation of article - Failure to place 50 percent of cash, etc., received in escrow; failure to provide liability insurance, etc. (a) It shall be a violation of this article for a seller of vacation time-sharing lease plans to fail to: (1) Place in escrow 50 percent of the cash and receivables received from the purchasers of such plans, such receivables to be assessed at net principal value. a. The purpose of such escrow account is to protect the purchaser's right to a refund if at any time the accommodations and facilities are no longer available as provided in the contract; provided however, nothing contained in this section shall operate to deny the seller the option to repair, replace, or reconstruct, within a reasonable time, the accommodations or facilities, if destroyed or damaged. b. The purchaser shall be entitled to a refund from the escrow account upon the conditions described above in an amount which represents the buyer's pro rata share...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/34-27-58.htm - 8K - Match Info - Similar pages
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