36-29A-3
Section 36-29A-3 Employee Injury Compensation Trust Fund. There is hereby established a separate special trust fund in the State Treasury to be known as the Employee Injury Compensation Trust Fund. All receipts collected under the provisions of this chapter shall be deposited in this fund and used only to carry out the provisions of this chapter. Any funds unspent and unencumbered at the end of each fiscal year shall not revert to any other fund in the State Treasury but shall be carried forward to the succeeding fiscal year. All funds in the Employee Injury Compensation Trust Fund may be invested and reinvested by the Director of Finance, through the Division of Risk Management, under the same terms as apply to the State Insurance Fund. There is hereby appropriated from the Employee Injury Compensation Trust Fund such amounts as are necessary to pay claims, benefits, administrative costs, and all other costs of the program. (Acts 1994, No. 94-680, p. 1308, §3.)...
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10A-4-3.05
Section 10A-4-3.05 Voting trusts. A voting trust with respect to shares of a domestic professional corporation shall not be valid unless all the trustees and beneficiaries thereof are qualified persons, except that a voting trust may be validly continued for a period of 12 months after the death of a deceased beneficiary or after a beneficiary has become a disqualified person. (Acts 1983, No. 83-514, p. 763, §13; §10-4-392; amended and renumbered by Act 2009-513, p. 967, §205.)...
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19-3B-705
Section 19-3B-705 Resignation of trustee. (a) A trustee may resign: (1) upon at least 30 days' notice to the qualified beneficiaries, the settlor, if living, and all co-trustees; or (2) with the approval of the court. (b) In approving a resignation, the court may issue orders and impose conditions reasonably necessary for the protection of the trust property. (c) Any liability of a resigning trustee or of any sureties on the trustee's bond for acts or omissions of the trustee is not discharged or affected by the trustee's resignation. (Act 2006-216, p. 314, §1.)...
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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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19-5-4
Section 19-5-4 Separate trusts for property transferred, etc., from another trust in order to preclude or minimize GST. If under the provisions of the governing instrument, property which is held in one trust (the "first trust") is to be transferred or poured over to, merged with, or otherwise combined with property in another trust (the "second trust") and property in the first trust is subject to different treatment for purposes of the GST from the property in the second trust, the fiduciary of the second trust is authorized, but not required, to retain the property in separate trusts in order to preclude or minimize the imposition of the GST upon transfers from either or both trusts, with other terms of each separate trust being substantially identical in all respects. (Acts 1988, No. 88-340, p. 516, §4.)...
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19-5-7
Section 19-5-7 Allocation of distributions from separate trusts. Distributions provided for by the governing instrument, whether the original trust is divided into separate trusts under the provisions of Section 19-5-3, 19-5-5 or 19-5-6 hereof or the trusts are retained as separate trusts under the provisions of Section 19-5-4 or 19-5-5 hereof, may be made from either or both separate trusts in the absolute and uncontrolled discretion of the fiduciary; provided, however, in determining the total distributions, neither the division of a trust nor the retention as separate trusts shall result in the receipt by any beneficiary of a greater proportion of the total distributions than the beneficiary would have received if the trust or estate had not been so divided or retained separately. (Acts 1988, No. 88-340, p. 516, §7.)...
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27-5B-7
Section 27-5B-7 Reinsurer maintaining a trust fund. (a) Credit shall be allowed when the reinsurance is ceded to an assuming insurer that maintains a trust fund in a qualified U.S. financial institution, as defined in subsection (b) of Section 27-5B-15, for the payment of the valid claims of its U.S. ceding insurers, their assigns and successors in interest. To enable the commissioner to determine the sufficiency of the trust fund, the assuming insurer shall report annually to the commissioner information substantially the same as that required to be reported on the NAIC Annual Statement form by licensed insurers. The assuming insurer shall submit to examination of its books and records by the commissioner and bear the expense of examination. (b)(1) Credit for reinsurance shall not be granted under this section unless the form of the trust and any amendments to the trust have been approved by either: a. The commissioner of the state where the trust is domiciled. b. The commissioner of...
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41-10-36
Section 41-10-36 Definitions. Unless the context requires otherwise, the terms defined in this section shall have the following meanings for purposes of this division: (1) AFFECTED BOND. Any obligation or portion thereof which is required under the terms of the code to receive an allocation of the state ceiling as a condition for the exclusion of interest on such obligation from the gross income of the recipient thereof for federal income tax purposes. (2) ALLOCATION. An allocation of a portion of the state ceiling issued by the authority pursuant to the provisions of this division. (3) APPLICATION. An application for an allocation, submitted by an issuer under the provisions of this division. (4) APPLICATION FOR CARRYFORWARD ALLOCATION. Any application filed with the authority seeking an elective carryforward of unused limitation for a "carryforward purpose" as defined in Section 146(f)(5) of the code. (5) AUTHORITY. The State Industrial Development Authority, a public corporation of...
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13A-12-190
Section 13A-12-190 Definitions. For the purposes of this division, the following terms shall have the meanings respectively ascribed to them by this section: (1) DISSEMINATE. To transmit, distribute, sell, lend, provide, transfer, or show, including through electronic means. (2) DISPLAY PUBLICLY. The exposing, placing, posting, exhibiting, or in any fashion displaying in any location, whether public or private, an item in such a manner that it may be readily seen and its content or character distinguished by normal unaided vision viewing it from a public thoroughfare, depot, or vehicle. (3) PUBLIC THOROUGHFARE, DEPOT, OR VEHICLE. Any street, highway, park, depot, or transportation platform or other place, whether indoors or out, or any vehicle for public transportation, owned or operated by government, either directly or through a public corporation or authority, or owned or operated by any agency of public transportation that is designed for the use, enjoyment, or transportation of...
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16-44A-32
Section 16-44A-32 Powers and duties of board. In furtherance of the purposes of the trust, the board of trustees shall have the following powers and duties: (1) Accept gifts, contributions, donations of funds or land, bequests, grants, appropriations, membership fees, or other forms of financial assistance for educational and other purposes in furtherance of this article, from any federal entity, from the state, its agencies and various political subdivisions, or any public or other entity, any and all of which are hereby authorized to grant any of the foregoing forms of assistance, or from any private person, foundation, corporation, or other agency, and to comply with any rules and regulations concerning grants by the federal government or other grantors, which are not in contravention of the Constitution and laws of this state or the United States. In fulfillment of its statewide civic educational mission, the trust may enter into cooperative agreements with local, state, regional,...
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