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45-37-123.104
Section 45-37-123.104 Withdrawal and refund of employee contributions. The following provisions
generally govern a member's withdrawal and refund of employee contributions under the plan.
Any member who fails to make application for the amount of his or her employee contributions
pursuant to this section within five years after his or her separation from the service of
the county, except as otherwise provided herein or otherwise determined by the pension board,
shall be deemed to have forfeited and donated such employee contributions to the trust fund
pursuant to Section 45-37-123.83. The foregoing five year rule only applies to a member; in
the case of a beneficiary, the pension board may only forfeit employee contributions after
it has exhausted reasonable efforts to locate the beneficiary. (1) WITHDRAWAL OF EMPLOYEE
CONTRIBUTIONS BY MEMBERS NOT ENTITLED TO A DEFERRED RETIREMENT BENEFIT. In the event that
a member ceases to be an employee of the county for reasons other than...
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25-5-316
Section 25-5-316 Workers' Compensation Administrative Trust Fund; creation; management; trustee
and custodian; assessments; penalties. (a) There is established in the State Treasury a fund
entitled the Workers' Compensation Administrative Trust Fund, into which shall be deposited
certain assessments provided under Chapter 5 (commencing with Section 25-5-1) of Title 25
collected by the Department of Labor. The fund shall constitute a separate fund to be disbursed
by the state Comptroller on order of the Secretary of the Department of Labor. All expenses
incurred by the department under the Workers' Compensation Law, including the salaries of
all employees, travel cost, and any other cost of administration and enforcement as may become
necessary, either within or without the state, shall be paid from the separate fund in the
State Treasury upon warrants of the state Comptroller drawn upon the State Treasury from time
to time when vouchers therefor are approved by the secretary. The State...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/25-5-316.htm - 7K - Match Info - Similar pages
26-1A-201
Section 26-1A-201 Authority that requires specific grant; grant of general authority. (a) An
agent under a power of attorney may do the following on behalf of the principal or with the
principal's property only if the power of attorney expressly grants the agent the authority
and exercise of the authority is not otherwise prohibited by another agreement or instrument
to which the authority or property is subject: (1) create, amend, revoke, or terminate an
inter vivos trust; (2) [reserved]; (3) create or change rights of survivorship; (4) create
or change a beneficiary designation; (5) delegate authority granted under the power of attorney;
(6) waive the principal's right to be a beneficiary of a joint and survivor annuity, including
a survivor benefit under a retirement plan; or (7) exercise fiduciary powers that the principal
has authority to delegate. (b) Notwithstanding a grant of authority to do an act described
in subsection (a), unless the power of attorney otherwise expressly...
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19-3B-108
Section 19-3B-108 Principal place of administration. (a) Without precluding other means for
establishing a sufficient connection with the designated jurisdiction, terms of a trust designating
the principal place of administration are valid and controlling if: (1) a trustee's principal
place of business is located in or a trustee is a resident of the designated jurisdiction;
or (2) all or part of the administration occurs in the designated jurisdiction. (b) A trustee
shall administer the trust at a place appropriate to its purposes, its administration, and
the interests of the beneficiaries; provided, however, a trustee shall not be required to
transfer the trust's principal place of administration to another state or to a jurisdiction
outside of the United States. (c) Without precluding the right of the court to order, approve,
or disapprove a transfer, the trustee may transfer the trust's principal place of administration
to another state or to a jurisdiction outside of the United...
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43-8-1
Section 43-8-1 General definitions. Subject to additional definitions contained in the subsequent
articles which are applicable to specific articles or divisions, and unless the context otherwise
requires, in this chapter, the following words shall have the following meanings: (1) BENEFICIARY.
As it relates to trust beneficiaries, includes a person who has any present or future interest,
vested or contingent, and also includes the owner of an interest by assignment or other transfer
and as it relates to a charitable trust, includes any person entitled to enforce the trust.
(2) CHILD. Includes any individual entitled to take as a child under this chapter by intestate
succession from the parent whose relationship is involved and excludes any person who is only
a stepchild, a foster child, a grandchild or any more remote descendant. (3) COURT. The court
having jurisdiction in matters relating to the affairs of decedents. This court in Alabama
is known as the probate court. (4) DAYS. That...
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19-3B-504
Section 19-3B-504 Discretionary trusts; effect of standard. (a) In this section, the terms
"child", "spouse", or "former spouse" include any person for
whom an order or judgment for child or spousal support has been entered in this or another
state. (b) Except as otherwise provided in subsection (c), whether or not a trust contains
a spendthrift provision, a creditor of a beneficiary may not compel a distribution that is
subject to the trustee's discretion, even if: (1) the discretion is expressed in the form
of a standard of distribution; or (2) the trustee has abused the discretion. (c) To the extent
a trustee has not complied with a standard of distribution or has abused a discretion: (1)
a distribution may be ordered by the court to satisfy a judgment or court order against the
beneficiary for support or maintenance of the beneficiary's child, spouse, or former spouse;
and (2) the court shall direct the trustee to pay to the child, spouse, or former spouse such
amount as is...
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19-3D-23
Section 19-3D-23 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION,
EFFECTIVE JANUARY 1, 2019. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. TRUST FOR CARE OF ANIMAL.
(a) In this section the following terms have the following meanings: (1) ANIMAL TRUST. A trust
or an interest in a trust created to provide for the care of one or more animals. (2) PROTECTOR.
A person appointed in an animal trust to enforce the trust on behalf of the animal or, if
no such person is appointed in the trust, a person appointed by the court for that purpose.
(b) The decanting power may be exercised over an animal trust that has a protector to the
extent the trust could be decanted under this chapter if each animal that benefits from the
trust were an individual, if the protector consents in a signed record to the exercise of
the power. (c) A protector for an animal has the rights under this chapter of a qualified
beneficiary. (d) Notwithstanding any other provision of this chapter,...
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5-11A-7
Section 5-11A-7 Deposit of security for a operation of trust business - Certificate of deposit;
purpose. The State Treasurer shall, from time to time, furnish the company making such deposit
with a proper certificate showing the fact of the deposit and containing an exact description
of the bonds or other securities deposited. Such deposit is to secure the payment of all liabilities
of the company making the deposit as a guardian, administrator, executor, receiver, trustee
or other fiduciary under appointment of any court of this state where the company has claimed
exemption from giving bond by reason of having this deposit, and all such liabilities shall
constitute a first claim on said bonds or other securities deposited as against all other
liabilities of said company. (Acts 1980, No. 80-658, ยง5-11-7.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-11A-7.htm - 1K - Match Info - Similar pages
19-3-301
Section 19-3-301 Power to amend trust instrument. (a) The trustee of a trust, whenever created,
which is or is treated as a private foundation as defined in Section 509 of the Internal Revenue
Code of 1954, a charitable trust as defined in Section 4947(a)(1) of the Internal Revenue
Code of 1954, or a split-interest trust as defined in Section 4947(a)(2) of the Internal Revenue
Code of 1954, may amend the terms of the governing instrument to the extent necessary to bring
the trust into conformity with the requirements for: (1) Termination of private foundation
status in the manner described in Section 507(b) thereof; (2) Exemption of the trust from
the taxes imposed by Sections 4941 to 4945, inclusive, thereof; or (3) Exclusion of the trust
from private foundation status under Section 509(a)(3) thereof, and for this latter purpose
may release, extinguish or renounce any power contained in the governing instrument, may reduce
or limit the charitable organizations or classes of charitable...
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19-3A-106
Section 19-3A-106 Conversion to unitrust. (a) Unless expressly prohibited by the governing
instrument, a trustee may convert a trust into a unitrust as described in this section if
all of the following apply: (1) The trustee has concluded that the conversion will enable
the trustee to better carry out the intent of the settlor or testator and the purposes of
the trust. (2) The trustee gives written notice of the trustee's intention to convert the
trust into a unitrust, including the trustee's initial decisions as set forth below, to all
the qualified beneficiaries. The written notice shall include the following: a. An explanation
of how the unitrust will operate; b. The effective date of the conversion to a unitrust; c.
The unitrust percentage to be used; d. The provisions for prorating a unitrust distribution
for a short year in which a beneficiary's right to payments commences or ceases; e. Whether
the net fair market value of the trust assets will be determined annually or averaged...
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