40-13-6
Section 40-13-6 Distribution of tax proceeds. (a) In each fiscal year when the funds then on deposit in the special fund or funds created for retirement of the bonds equal the amount needed to pay all the principal and interest becoming payable on the bonds within the succeeding 12 months and the funds then on deposit in the reserve fund or funds created for the bonds equal the maximum principal and interest becoming due on the bonds in any one year, the severance tax proceeds remaining in the Alabama State Docks Bulk Handling Facility Trust Fund, shall be distributed as provided herein; provided however, that if at the end of any fiscal year of the state, beginning with the fiscal year ending September 30, 1987, the Director of the Alabama State Docks Department shall have notified the Director of Finance in writing, at least five days prior to the close of the fiscal year, that the revenues to be derived by the Alabama State Docks Department from the operations of its coal handling...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-13-6.htm - 13K - Match Info - Similar pages
40-25-23
Section 40-25-23 Disposition of funds. All revenues collected under the provisions of this article, except as otherwise provided, shall be paid to the Department of Revenue by check or draft made payable to the Treasurer of Alabama, and shall be distributed in the following manner: (1) All of the revenue derived from the tax levied upon cigarettes by Sections 40-25-2 and 40-25-41 shall be deposited in the State Treasury and 38.82 percent of such revenue shall be divided as follows: a. Six and six one-hundredths percent to the credit of the State Public Welfare Trust Fund, which is hereby appropriated for general welfare purposes. In this section, "general welfare purposes" means: 1. The administration of public assistance as set out in Sections 38-2-5 and 38-4-1; 2. Services, including supplementation and supplementary services under the federal Social Security Act, to or on behalf of persons to whom such public assistance may be given under Section 38-4-1; 3. Services to and on behalf...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-25-23.htm - 8K - Match Info - Similar pages
43-2-851
Section 43-2-851 Bond. (a) The court must require a personal representative or special administrator to furnish bond payable to the judge of probate conditioned upon faithful discharge of all duties of the trust according to law, with sureties as it shall specify. Unless otherwise directed, the bond must be in the amount of the aggregate capital value of the property of the estate in the personal representative's control, plus one year's estimated income, and minus the value of securities deposited under arrangements requiring an order of the court for their removal and the value of any land which the fiduciary, pursuant to Section 43-2-844, lacks power to sell or convey without court authorization. The court, in lieu of sureties on a bond, may accept other collateral for the performance of the bond, including a pledge of securities or any other assets or a mortgage of land. (b) The court may at any time reduce the bond of the personal representative or require the personal...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/43-2-851.htm - 2K - Match Info - Similar pages
10A-2-13.30
Section 10A-2-13.30 Court action. REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) If a demand for payment under Section 10A-2-13.28 remains unsettled, the corporation shall commence a proceeding within 60 days after receiving the payment demand and petition the court to determine the fair value of the shares and accrued interest. If the corporation does not commence the proceeding within the 60 day period, it shall pay each dissenter whose demand remains unsettled the amount demanded. (b) The corporation shall commence the proceeding in the circuit court of the county where the corporation's principal office, or, if none in this state, its registered office, is located. If the corporation is a foreign corporation without a registered office in this state, it shall commence the proceeding in the county in this state where the registered office of the domestic corporation merged with or whose shares were...
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11-54A-9
Section 11-54A-9 Powers of authority; all projects to be in development area. (a) The authority shall have the following powers, together with all powers incidental thereto or necessary to the discharge thereof in corporate form: (1) To have succession by its corporate name for the duration of time, which may be perpetuity, subject to Section 11-54A-20, specified in its certificate of incorporation. (2) To sue and be sued in its own name and to prosecute and defend civil actions in any court having jurisdiction of the subject matter and of the parties. (3) To adopt and make use of a corporate seal and to alter the same at pleasure. (4) To adopt and alter bylaws for the regulation and conduct of its affairs and business. (5) To acquire, whether by purchase, construction, exchange, gift, lease, or otherwise and to refinance existing indebtedness on, improve, maintain, equip, and furnish one or more projects, including all real and personal properties which the board of the authority may...
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11-81-21
Section 11-81-21 Investment of funds obligation in which sinking funds may be invested. Any municipal funds or county funds not presently needed for other purposes may be invested in any obligations in which sinking funds are now authorized to be invested, pursuant to Section 11-81-19, and in addition in any of the following: (1) Direct obligations of (including obligations issued or held in book entry form on the books of) the Department of the Treasury of the United States of America; (2) Obligations of any of the following federal agencies, which obligations represent the full faith and credit of the United States of America: a. Farmers Home Administration. b. General Services Administration. c. U. S. Maritime Administration. d. Small Business Administration. e. Government National Mortgage Association (GNMA). f. U. S. Department of Housing and Urban Development (HUD). g. Federal Housing Administration (FHA). (3) U. S. dollar denominated deposit accounts and certificates of deposit...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-81-21.htm - 6K - Match Info - Similar pages
11-92B-10
Section 11-92B-10 Powers and duties of authority. An authority shall have the following powers and duties together with all powers and duties incidental thereto or necessary to the discharge thereof: (1) To sue or be sued and to prosecute and defend in any court of competent jurisdiction. (2) To adopt and to use a corporate seal and to alter the seal at pleasure. (3) To adopt and alter bylaws for the regulation and conduct of its affairs and business. (4) With respect to property within the operational area of the authority, to acquire, receive, and take title to by purchase, gift, lease, devise, or otherwise, to hold, keep, improve, maintain, and impose restrictive covenants and land use controls, to engage in environmental remediation and restoration efforts as required under applicable agreements with the United States Department of Defense, to equip, furnish, develop, and to transfer, convey, donate, sell, lease, grant options to, assign, encumber with easements and mortgages and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-92B-10.htm - 7K - Match Info - Similar pages
11-92C-8
Section 11-92C-8 Powers of authority. (a) The authority shall have the following powers, together with all powers incidental thereto or necessary to the discharge thereof in corporate form: (1) To have succession by its corporate name for the duration of time, which may be in perpetuity, subject to Section 11-92C-20, specified in its certificate of incorporation. (2) To sue and be sued in its own name and to prosecute and defend civil actions in any court having jurisdiction of the subject matter and of the parties; provided that the authority shall be deemed to be a governmental entity as defined in Chapter 93 of this title for the purpose of limiting the damages for which the authority may be liable. (3) To adopt and make use of a corporate seal and to alter the seal at its pleasure. (4) To adopt and alter bylaws for the regulation and conduct of its affairs and business. (5) To acquire, whether by purchase, construction, exchange, gift, lease, or otherwise, and to refinance existing...
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16-17A-2
Section 16-17A-2 Definitions. For purposes of this chapter, the following terms shall have the following meanings: (1) ACADEMIC MEDICAL CENTER. The teaching, research, and clinical facilities provided, established, or operated by a constitutionally created public university in the state or a university that operates a school of medicine. (2) AUTHORITY. A public corporation organized pursuant to the provisions of this chapter. (3) BOARD. The board of directors of an authority. (4) DIRECTOR. A member of the board of an authority. (5) GOVERNMENTAL ENTITY. The state, a county, a municipality, or any department, agency, board, or commission of the state, a county, or a municipality. (6) HEALTH CARE FACILITY. All property or rights in property, real or personal, tangible or intangible, useful to an authority in its operations, including without limitation, the following: a. Facilities necessary or desirable to the operation of an academic medical center, one or more health sciences schools,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-17A-2.htm - 4K - Match Info - Similar pages
19-3C-2
Section 19-3C-2 Definitions. In this chapter: (1) CHARITABLE PURPOSE means the relief of poverty, the advancement of education or religion, the promotion of health, governmental or municipal purposes, or other purposes the achievement of which is beneficial to the community. (2) ENDOWMENT FUND means an institutional fund or part thereof that, under the terms of a gift instrument, is not wholly expendable by the institution on a current basis. The term does not include assets that an institution designates as an endowment fund for its own use. (3) GIFT INSTRUMENT means a record or records, including an institutional solicitation, under which property is granted to, transferred to, or held by an institution as an institutional fund. (4) INSTITUTION means: (A) a person, other than an individual, organized and operated exclusively for charitable purposes; (B) a government or governmental subdivision, agency, or instrumentality, to the extent that it holds funds exclusively for a charitable...
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