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19-3B-706
Section 19-3B-706 Removal of trustee. (a) The settlor, a co-trustee, or a beneficiary may request
the court to remove a trustee, or a trustee may be removed by the court on its own initiative.
(b) The court may remove a trustee if: (1) the trustee has committed a serious breach of trust;
(2) lack of cooperation among co-trustees substantially impairs the administration of the
trust; (3) because of unfitness, unwillingness, or persistent failure of the trustee to administer
the trust effectively, the court determines that removal of the trustee best serves the interests
of the beneficiaries; or (4)(A) there has been a substantial change of circumstances or removal
is requested by all of the qualified beneficiaries; (B) the court finds that removal of the
trustee best serves the interests of all of the beneficiaries and is not inconsistent with
a material purpose of the trust; and (C) a suitable co-trustee or successor trustee is available.
(c) Pending a final decision on a request to...
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37-6-3
Section 37-6-3 Enumerated powers. A cooperative shall have the power: (1) To sue and be sued
in its corporate name. (2) To adopt a corporate seal and alter the same at its pleasure. (3)
To generate, manufacture, purchase, acquire and transmit electric energy and to distribute,
sell, supply and dispose of electric energy to its members, to governmental agencies and political
subdivisions and to other persons; provided, however, that should a cooperative acquire any
electric facilities dedicated or devoted to the public use, it may continue to serve the persons
served directly from such facilities at the time of such acquisition without requiring that
such persons become members, and, provided further, that such nonmembers shall have the right
to become members upon nondiscriminatory terms. Cooperatives may not condition membership
or provision of service on compliance by the member with requirements not directly related
to the electric or other service to be provided by the cooperative....
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19-3B-802
Section 19-3B-802 Duty of loyalty. (a) A trustee shall administer the trust solely in the interests
of the beneficiaries. (b) Subject to the rights of persons dealing with or assisting the trustee
as provided in Section 19-3B-1012, a sale, encumbrance, or other transaction involving the
investment or management of trust property entered into by the trustee for the trustee's own
personal account or which is otherwise affected by a conflict between the trustee's fiduciary
and personal interests is voidable by a beneficiary affected by the transaction unless: (1)
the transaction was authorized by the terms of the trust; (2) the transaction was approved
by the court; (3) the beneficiary did not commence a judicial proceeding within the time allowed
by Section 19-3B-1005; (4) the beneficiary consented to the trustee's conduct, ratified the
transaction, or released the trustee in compliance with Section 19-3B-1009; or (5) the transaction
involves a contract entered into or claim acquired by...
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19-3B-105
Section 19-3B-105 Default and mandatory rules. (a) Except as otherwise provided in the terms
of the trust, this chapter governs the duties and powers of a trustee, relations among trustees,
and the rights and interests of a beneficiary. (b) The terms of a trust prevail over any provision
of this chapter except: (1) the requirements for creating a trust; (2) the duty of a trustee
to act in good faith and in accordance with the terms and purposes of the trust and the interest
of the beneficiaries; (3) the requirement that a trust and its terms be for the benefit of
its beneficiaries, and that the trust have a purpose that is lawful, not contrary to public
policy, and possible to achieve; (4) the power of the court to modify or terminate a trust
under Sections 19-3B-410 through 19-3B-416; (5) the effect of a spendthrift provision and
the rights of certain creditors and assignees to reach a trust as provided in Article 5; (6)
the power of the court under Section 19-3B-702 to require,...
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38-9B-5
Section 38-9B-5 AFT Corporation, Trust, and Charitable Trust. THIS SECTION WAS AMENDED BY ACT
2018-36 IN THE 2018 REGULAR SESSION, EFFECTIVE JANUARY 31, 2018. THIS IS NOT IN THE CURRENT
CODE SUPPLEMENT. (a) The board of trustees shall establish and administer the AFT Corporation.
The board of trustees shall execute all documents necessary to establish and administer the
AFT Corporation including, but not limited to, documents to form a not-for-profit corporation
and to qualify as an organization pursuant to Section 501(c)(3) of the United States Internal
Revenue Code. (b) The AFT Corporation shall establish the AFT Trust and the AFT Charitable
Trust, and the board of trustees shall administer the AFT Trust and the AFT Charitable Trust
through the AFT Corporation. The board of trustees and the AFT Corporation shall take all
steps necessary to satisfy all federal and state laws, and all regulations, rules, and policies
established by the federal Social Security Administration to ensure...
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26-2A-136
Section 26-2A-136 Permissible court orders. (a) The court shall exercise the authority conferred
in this division to encourage the development of maximum self-reliance and independence of
a protected person and make protective orders only to the extent necessitated by the protected
person's mental and adaptive limitations and other conditions warranting the procedure. (b)
The court has the following powers that may be exercised directly or through a conservator
in respect to the estate and business affairs of a protected person: (1) While a petition
for appointment of a conservator or other protective order is pending and after preliminary
hearing and without notice, the court may preserve and apply the property of the person to
be protected as may be required for the support of the person or dependents of the person.
(2) After hearing and upon determining that a basis for an appointment or other protective
order exists with respect to a minor without other disability, the court has...
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11-65-2
Section 11-65-2 Definitions. (a) The following words and phrases used in this chapter, and
others evidently intended as the equivalent thereof, shall, unless the context clearly indicates
otherwise, have the following respective meanings: (1) ALABAMA-BRED. When this term is used
with reference to a horse, it means a horse which is registered in the registry designated
and administered by a commission in accordance with such rules concerning domicile and registration
requirements as may be established by such commission and which is either (i) foaled from
a mare domiciled in the state during the 10-year period beginning with January 1, 1991, or
(ii) sired by an Alabama stallion and foaled from a mare domiciled in the state at any time
after the expiration of such 10-year period. (2) ALABAMA STALLION. A stallion which is standing
in the state at the time he is bred to the dam of an Alabama-bred horse, which is registered
with a commission, and which is owned or leased by a resident of...
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19-3B-702
Section 19-3B-702 Trustee's bond. (a) A trustee shall give bond to secure performance of the
trustee's duties only if the court finds that a bond is needed to protect the interests of
the beneficiaries or is required by the terms of the trust and the court has not dispensed
with the requirement. (b) The court may specify the amount of a bond, its liabilities, and
whether sureties are necessary. The court may modify or terminate a bond at any time. (Act
2006-216, p. 314, ยง1.)...
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19-3B-110
Section 19-3B-110 Others treated as qualified beneficiaries. (a) Whenever notice to qualified
beneficiaries of a trust is required under this chapter, the trustee must also give notice
to any other beneficiary who has sent the trustee a request for notice. (b) A charitable organization
expressly designated to receive distributions under the terms of a charitable trust has the
rights of a qualified beneficiary under this chapter if the charitable organization, on the
date of the charitable organization's qualification is being determined: (1) is a distributee
or a permissible distributee of trust income or principal; (2) would be a distributee or permissible
distributee of trust income or principal upon the termination of the interests of other distributees
or permissible distributees then receiving or eligible to receive distributions; or (3) would
be a distributee or permissible distributee of trust income or principal if the trust terminated
on that date. (c) A person appointed to...
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19-3B-813
Section 19-3B-813 Duty to inform and report. (a) Except as otherwise provided in Section 19-3B-603,
the following rules apply: (1) A trustee shall keep the current permissible distributees of
income or principal of the trust reasonably informed about the administration of the trust
and of the material facts necessary for them to protect their interests. (2) Unless unreasonable
under the circumstances, a trustee shall promptly respond to a qualified beneficiary's request
for information related to the administration of the trust. (b) A trustee: (1) upon request
of a beneficiary, shall promptly furnish to the beneficiary a copy of the trust instrument;
(2) within 60 days after accepting a trusteeship, shall notify the qualified beneficiaries
of the acceptance and of the trustee's name, address, and telephone number; (3) within 60
days after accepting the trusteeship of an irrevocable trust, or the date the trustee acquires
knowledge that a formerly revocable trust has become irrevocable,...
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