|
19-3A-411
Section 19-3A-411 Minerals, water, and other natural resources. (a) To the extent that a fiduciary
accounts for receipts from an interest in minerals or other natural resources pursuant to
this section, the fiduciary shall allocate them as follows: (1) If received as nominal delay
rental or nominal annual rent on a lease, a receipt shall be allocated to income. (2) If received
from a production payment, a receipt shall be allocated to income if and to the extent that
the agreement creating the production payment provides a factor for interest or its equivalent.
The balance shall be allocated to principal. (3) If an amount received as a royalty payment,
shut-in-well payment, take-or-pay payment, bonus, or a delay rental that is more than nominal,
then ninety percent (90%) shall be allocated to principal and the balance to income. (4) If
an amount is received from a working interest or any other interest not provided for in subdivisions
(1), (2), or (3), then ninety percent (90%) of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-3A-411.htm - 2K - Match Info - Similar pages
45-17-90.06
Section 45-17-90.06 Powers and duties. The authority, or its agents and employees as directed,
may do any of the following: (1) Investigate, study, and engage in basic research relative
to the natural resources of land, water, minerals, and people in the cities and counties and
apply its findings and efforts to promote a sound and balanced agricultural, industrial, and
economic development of the cities and counties. (2) Cooperate with municipal, regional, state,
or federal planning entities or other industrial and economic development boards. (3) Publicize
and advertise the industrial, commercial, and agricultural resources and growth opportunities
of the cities and counties. (4) Collect, compile, and distribute literature concerning the
facilities, advantages, and attractions of the cities and counties, the educational, historic,
recreational, and scenic places of interest within the cities and counties, and the air, water,
and highway transportation facilities. (5) Contract with...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-17-90.06.htm - 2K - Match Info - Similar pages
45-39-92.06
Section 45-39-92.06 Powers and duties. The authority, or its agents and employees as directed,
may do any of the following: (1) Investigate, study, and engage in basic research relative
to the natural resources of land, water, minerals, and people in the cities and counties and
apply its findings and efforts to promote a sound and balanced agricultural, industrial, and
economic development of the cities and counties. (2) Cooperate with municipal, regional, state,
or federal planning entities or other industrial and economic development boards. (3) Publicize
and advertise the industrial, commercial, and agricultural resources and growth opportunities
of the cities and counties. (4) Collect, compile, and distribute literature concerning the
facilities, advantages, and attractions of the cities and counties, the educational, historic,
recreational, and scenic places of interest within the cities and counties, and the air, water,
and highway transportation facilities. (5) Contract with...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-39-92.06.htm - 2K - Match Info - Similar pages
19-3A-410
Section 19-3A-410 Liquidating assets. (a) In this section, "liquidating asset" means
an asset whose value will diminish or terminate because the asset is expected to produce receipts
for a period of limited duration. The term includes a leasehold, patent, copyright, royalty
right, and right to receive payments under an arrangement that does not provide for the payment
of interest on the unpaid balance. The term does not include a payment subject to Section
19-3A-409, natural resources subject to Section 19-3A-411, timber subject to Section 19-3A-412,
an activity subject to Section 19-3A-414, an asset subject to Section 19-3A-415, or any asset
for which the fiduciary establishes a reserve for depreciation under Section 19-3A-503. (b)
A fiduciary shall allocate to income ten percent (10%) of the receipts from a liquidating
asset and the balance to principal. (Act 2000-675, p. 1343, ยง1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-3A-410.htm - 1K - Match Info - Similar pages
19-3A-403
Section 19-3A-403 Business and other activities conducted by fiduciary. (a) If a fiduciary
who conducts a business or other activity determines that it is in the best interest of all
the beneficiaries to account separately for the business or other activity instead of accounting
for it as part of the trust's general accounting records, then the fiduciary may maintain
separate accounting records for its transactions, whether or not its assets are segregated
from other trust assets. (b) A fiduciary who accounts separately for a business or other activity
may determine the extent to which net cash receipts must be retained for working capital,
the acquisition or replacement of fixed assets and the other reasonably foreseeable needs
of the business or other activity, and the extent to which the remaining net cash receipts
are accounted for as principal or income in the trust's general accounting records. If a fiduciary
sells assets of the business or other activity, other than in the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-3A-403.htm - 2K - Match Info - Similar pages
26-2A-152
Section 26-2A-152 Powers of conservator in administration. (a) Subject to limitation provided
in Section 26-2A-154, a conservator shall have all of the powers conferred in this section
and any additional powers now or hereafter conferred by law on trustees in this state. In
addition, a conservator of the estate of an unmarried minor as to whom no one has parental
rights, has the powers of a guardian of a minor described in Section 26-2A-78 until the minor
attains the age of 19 years, or the disabilities of nonage have been removed, but the parental
rights so conferred on a conservator do not preclude appointment of a guardian as provided
in Division 1 of this article. (b) A conservator without court authorization or confirmation
may invest and reinvest funds of the estate as would a trustee. (c) A conservator, acting
as a fiduciary in efforts to accomplish the purpose of the appointment, may act without court
authorization or confirmation, to (1) Collect, hold, and retain assets of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/26-2A-152.htm - 7K - Match Info - Similar pages
40-18-1
existed on December 31, 2007. (8) CORPORATION. The term includes associations, joint stock
companies, and any other entity classified as an association taxable as a corporation for
federal income tax purposes. (9) DISREGARDED ENTITY. Any entity which is disregarded for federal
income tax purposes. (10) DOMESTIC. When applied to a corporation or subchapter K entity means
created or organized under the laws of the State of Alabama. (11) FIDUCIARY. A guardian, trustee,
executor, administrator, personal representative, receiver, conservator, or any person
acting in any fiduciary capacity for any person. (12) FISCAL YEAR. An accounting period of
12 months ending on the last day of any month other than December. (13) FOREIGN. When applied
to a corporation or a subchapter K entity means created or organized under a jurisdiction
other than the State of Alabama. (14) GEOTHERMAL. Any geothermal reservoir in Alabama consisting
of natural heat which is stored in rocks or in an aqueous liquid or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-1.htm - 11K - Match Info - Similar pages
19-3A-302
Section 19-3A-302 Apportionment of receipts and disbursements upon decedent's death or when
income interest begins. (a) A fiduciary shall allocate an income receipt or disbursement,
other than one to which Section 19-3A-201(a) applies, to principal in the following instances:
(1) In the case of a decedent's estate, if its due date occurs before the date of a decedent's
death; or (2) In the case of a trust or successive income interest, if its due date occurs
before an income interest begins. (b) A fiduciary shall allocate an income receipt or disbursement
to income if its due date occurs on or after the date on which a decedent dies or an income
interest begins and it is a periodic due date. An income receipt or disbursement shall be
treated as accruing from day to day if its due date is not periodic or if it has no due date.
The portion of the receipt or disbursement accruing before the date on which a decedent dies
or an income interest begins shall be allocated to principal and the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-3A-302.htm - 2K - Match Info - Similar pages
40-23-35
Section 40-23-35 Disposition of revenues from tax. (a) Such amount of money as shall be appropriated
for each fiscal year by the Legislature to the Department of Revenue with which to pay the
salaries, the cost of operation and management of the department shall be deducted, as a first
charge thereon, from the taxes collected under the provisions of this division; provided,
that the expenditure of the sum so appropriated shall be budgeted and allotted pursuant to
Article 4 of Chapter 4 of Title 41, and limited to the amount appropriated to defray the expenses
of operating the department for each fiscal year. After the payment of the expenses, so much
of the amount remaining as may be necessary, after first applying all sums of money received
by reason of the application of the surplus in the income tax as provided by Section 40-18-58,
for the replacement in the public school fund of the three-mill constitutional levy for schools
and in the General Fund of the one-mill levy for...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-23-35.htm - 9K - Match Info - Similar pages
40-23-4
sales of materials, equipment, and machinery that, at any time, enter into and become a component
part of ships, vessels, towing vessels or barges, or drilling ships, rigs or barges, or seismic
or geophysical vessels, other watercraft and commercial fishing vessels of over five tons
load displacement as registered with the U.S. Coast Guard and licensed by the State of Alabama
Department of Conservation and Natural Resources. Additionally, the gross proceeds from the
sale or sales of lifeboats, personal flotation devices, ring life buoys, survival craft
equipment, distress signals, EPIRB's, fire extinguishers, injury placards, waste management
plans and logs, marine sanitation devices, navigation rulebooks, navigation lights, sound
signals, navigation day shapes, oil placard cards, garbage placards, FCC SSL, stability instructions,
first aid equipment, compasses, anchor and radar reflectors, general alarm systems, bilge
pumps, piping, and discharge and electronic position fixing...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-23-4.htm - 34K - Match Info - Similar pages
|