|
26-2A-158
Section 26-2A-158 Termination of proceedings. (a) The protected person, conservator, or any
other interested person may petition the court to terminate the conservatorship. A protected
person seeking termination is entitled to the same rights and procedures as in an original
proceeding for a protective order. If the conservator has accounted to the formerly protected
person, no accounting is necessary. The court, upon determining after notice and hearing that
the minority or disability of the protected person has ceased, shall terminate the conservatorship.
Upon termination, title to assets of the estate passes to the formerly protected person or
to successors. The order of termination must provide for expenses of administration and direct
the conservator to execute appropriate instruments to evidence the transfer. (b) A conservator
appointed by any court of this state, on termination or removal of the protected person's
minority or disability, may present a verified petition to the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/26-2A-158.htm - 1K - Match Info - Similar pages
19-3B-704
Section 19-3B-704 Vacancy in trusteeship; appointment of successor. (a) A vacancy in a trusteeship
occurs if: (1) a person designated as trustee rejects the trusteeship; (2) a person designated
as trustee cannot be identified or does not exist; (3) a trustee resigns; (4) a trustee is
disqualified or removed; (5) a trustee dies; or (6) a guardian or conservator is appointed
for an individual serving as trustee. (b) If one or more co-trustees remain in office, then
a vacancy in a trusteeship need not be filled. A vacancy in a trusteeship must be filled if
the trust has no remaining trustee. (c) A vacancy in a trusteeship of a noncharitable trust
that is required to be filled must be filled in the following order of priority: (1) by a
person designated in the terms of the trust to act as successor trustee; (2) by a person appointed
by unanimous agreement of the adult qualified beneficiaries and any entity which is a qualified
beneficiary; or (3) by a person appointed by the court. (d) A...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-3B-704.htm - 3K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-17A-31.htm - 4K - Match Info - Similar pages
19-3-41
Section 19-3-41 When settlements compelled; removal of trustee and appointment of successor.
If the trustee shall fail to make settlement, partial or final, as required in this article
he may be compelled to do so, by citation to be issued by the register or clerk on order of
the court, at the instance of any creditor or party interested in the trust, in all respects
as executors and administrators may be compelled to make settlements in the court of probate;
or, upon motion of a majority in value of the creditors, the court must remove such defaulting
trustee and appoint another in his stead, who may be nominated by the creditors, as provided
by this Code, for the nomination of an administrator of an insolvent estate by the creditors
thereof. (Code 1896, §4173; Code 1907, §6075; Code 1923, §10412; Code 1940, T. 58, §29.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-3-41.htm - 1K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-3-120.htm - 5K - Match Info - Similar pages
25-5-292
Section 25-5-292 Resolution of disputes, settlement agreements; written reports; interlocutory
orders; final determinations of liability. (a) A dispute may be resolved either in whole or
in part at the benefit review conference. If the conference results in the resolution of some
of the disputed issues by mutual agreement or in a settlement, the ombudsman shall reduce
the agreement or the settlement to writing. The ombudsman and each party or the designated
representative of the party shall sign the agreement or settlement. A settlement reached hereunder
shall, unless otherwise provided herein, be effective on the date the settlement is signed
unless one of the parties submits the settlement to the court for approval as provided in
this article. (b) An agreement signed pursuant to this section shall be binding on all parties
through the final conclusion of all matters relating to the claim, unless within 60 days after
the agreement is signed or approved the court on a finding of fraud,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/25-5-292.htm - 2K - Match Info - Similar pages
34-4-3
Section 34-4-3 Exemptions from chapter. The provisions of this chapter and the terms "auctioneer,"
"apprentice auctioneer," "auction business or business of auctioneering,"
as defined in Section 34-4-2, shall not apply to and shall not include any person acting as
a receiver, trustee in bankruptcy, guardian, administrator, or executor or any such person
acting under order of any court, nor shall they include a trustee acting under a trust agreement,
deed of trust or will, nor shall they include sales at auction conducted by or under the direction
of any public authority or pursuant to any judicial order or decree. (Acts 1973, No. 811,
p. 1236, §4.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/34-4-3.htm - 961 bytes - Match Info - Similar pages
6-11-51
Section 6-11-51 Definitions. As used in this article the following words and terms shall have
the following meanings: (1) ANNUITY ISSUER. An insurer that has issued a contract to fund
periodic payments under a structured settlement. (2) DEPENDENTS. A payee's spouse and minor
children and all other persons for whom the payee is legally obligated to provide support,
including alimony. (3) DISCOUNTED PRESENT VALUE. The present value of future payments determined
by discounting the payments to the present using the most recently published applicable federal
rate for determining the present value of an annuity, as issued by the United States Internal
Revenue Service. (4) GROSS ADVANCE AMOUNT. The sum payable to the payee or for the payee's
account as consideration for a transfer of structured settlement payment rights before any
reductions for transfer expenses or other deductions to be made from the consideration. (5)
INDEPENDENT PROFESSIONAL ADVICE. Advice of an attorney, certified public...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/6-11-51.htm - 5K - Match Info - Similar pages
27-42-20
Section 27-42-20 Access to assets of insolvent insurer; application for court approval of plan
to disburse assets; notice of application. (a) Within 120 days of a final determination of
insolvency of an insurance company by a court of competent jurisdiction the receiver shall
make application to the said court for approval of a proposal to disburse assets out of such
company's marshalled assets, from time to time as such assets become available, to the Alabama
Insurance Guaranty Association and to any entity or person performing a similar function in
another state. (The Alabama Insurance Guaranty Association and any entity or person performing
a similar function in other states shall hereinafter be referred to collectively as the associations.)
(b) Such proposal shall at least include provisions for: (1) Reserving amounts for the payment
of expenses of administration and claims falling within the priorities established in the
Alabama Uniform Insurers Liquidation Act but only with...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-42-20.htm - 2K - Match Info - Similar pages
11-54-125
Section 11-54-125 Definitions. As used in this division, the following terms shall have the
following meanings: (1) AUTHORIZING RESOLUTION. A resolution adopted by the directors and
authorizing the execution and delivery of a trust agreement. (2) DIRECTORS. The board of directors
of an industrial development board. (3) ENDOWMENT TRUST FUND or FUND. A trust fund created
by an industrial development board pursuant to this division. (4) FUND MANAGER. Any individual,
partnership, corporation, or other person, including, without limitation, a trustee bank,
employed to manage and invest moneys held in and forming a part of an endowment trust fund
and other contributions to such fund. (5) INDUSTRIAL DEVELOPMENT BOARD or BOARD. A public
corporation now in existence or hereafter organized pursuant to the provisions of either industrial
development board act. (6) INDUSTRIAL DEVELOPMENT BOARD ACT. Act 648, 1949 Regular Session,
as amended, and Division 1 and Division 2 of this article, as...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-54-125.htm - 3K - Match Info - Similar pages
|