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27-5A-4
Section 27-5A-4 Required contract provisions; reinsurance intermediary-brokers. Transactions
between a reinsurance intermediary-broker and the insurer it represents in that capacity shall
only be entered into pursuant to a written authorization, specifying the responsibilities
of each party. The authorization shall, at a minimum, provide that: (1) The insurer may terminate
the reinsurance intermediary-broker's authority at any time. (2) The reinsurance intermediary-broker
shall render accounts to the insurer accurately detailing all material transactions, including
information necessary to support all commissions, charges, and other fees received by, or
owing, to the reinsurance intermediary-broker, and remit all funds due to the insurer within
30 days of receipt. (3) All funds collected for the insurer's account shall be held by the
reinsurance intermediary-broker in a fiduciary capacity in a bank which is a qualified U.S.
financial institution as defined herein. (4) The reinsurance...
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27-5A-7
Section 27-5A-7 Required contract provisions; reinsurance intermediary-managers. Transactions
between a reinsurance intermediary-manager and the reinsurer it represents in that capacity
shall only be entered into pursuant to a written contract, specifying the responsibilities
of each party, which shall be approved by the reinsurer's board of directors. At least 30
days before a reinsurer assumes or cedes business through a producer, a true copy of the approved
contract shall be filed with the commissioner for approval. The contract shall, at a minimum,
provide that: (1) The reinsurer may terminate the contract for cause upon written notice to
the reinsurance intermediary-manager. The reinsurer may immediately suspend the authority
of the reinsurance intermediary-manager to assume or cede business during the pendency of
any dispute regarding the cause for termination. (2) The reinsurance intermediary-manager
shall render accounts to the reinsurer accurately detailing all material...
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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...
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45-11-244.10
Section 45-11-244.10 Use of proceeds. The proceeds of any taxes levied pursuant to the authorization
contained in this part shall be used only for the purpose of providing funds to pay the costs
of construction, maintenance, and operation of hospital facilities in the county. The entire
proceeds derived by the county from the taxes herein authorized to be levied, including any
income derived from the investment of such proceeds, shall be paid over and deposited, promptly
upon receipt thereof, into a separate and distinct fund or account of the county, which shall
be accounted for as other county funds; provided, however, the governing body of the county
shall have the further power to designate as the agency of the county to construct, maintain,
and operate the hospital facilities any public hospital corporation heretofore or hereafter
organized for hospital purposes in the county. When a public hospital corporation shall be
so designated, the proceeds of the taxes thereafter collected...
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45-11-245.09
Section 45-11-245.09 Use of proceeds. The proceeds of any taxes levied pursuant to the authorization
contained in this part shall be used only for the purpose of providing funds to pay the costs
of construction, maintenance, and operation of hospital facilities in the county. The entire
proceeds derived by the county from the taxes herein authorized to be levied, including any
income derived from the investment of such proceeds, shall be paid over and deposited, promptly
upon receipt thereof, into a separate and distinct fund or account of the county, which shall
be accounted for as other county funds; provided, however, the governing body of the county
shall have the further power to designate as the agency of the county to construct, maintain,
and operate the hospital facilities any public hospital corporation heretofore or hereafter
organized for hospital purposes in the county. When a public hospital corporation shall be
so designated, the proceeds of the taxes thereafter collected...
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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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38-14-1
Section 38-14-1 Definitions. As used in this chapter, the following terms shall have the following
meanings: (1) DEPARTMENT. The Department of Human Resources. (2) ELIGIBLE INDIVIDUAL or FAMILY
MEMBER. A person whose household income is equal to or less than 80 percent of the median
household income for the state or less than 200 percent of the federal poverty guidelines,
whichever is greater. (3) EMERGENCY. Payments for necessary medical expenses of the account
owner or family member, expenses to avoid the eviction of the account owner from the account
owner's primary residence, and for necessary living expenses following a loss of income (4)
FIDUCIARY ORGANIZATION. Any nonprofit, fund-raising organization that is exempt from taxation
under Section 501(c)(3) of the Internal Revenue Code, as amended; any certified community
development financial institution; any credit union chartered under federal or state law;
or any Indian tribe as defined in Section 4(12) of the Native American...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/38-14-1.htm - 3K - Match Info - Similar pages
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...
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26-9-10
Section 26-9-10 Investment of funds of estate by guardian; limitation as to loans of funds
of ward. (a) Every guardian shall invest the funds of the estate in one or more of the following
forms in which the guardian has no interest and not otherwise: (1) Interest-bearing obligations
of the State of Alabama or of the United States or as to which the State of Alabama or the
United States has guaranteed the payment of both principal and interest. (2) Loans secured
by direct first mortgage on improved real estate located within the State of Alabama. Such
loans shall not exceed 50 percent of the actual value fixed by a competent appraiser or of
the value for which such real estate, with improvements, was assessed for taxation for the
last preceding tax year, whichever is the lower, except as provided in subdivision (3) of
this section. (3) Purchase of indebtedness secured by first real estate mortgages which have
been accepted for insurance by the Secretary of Housing and Urban Development...
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41-10-754
trustees, paying agents, investment bankers, and underwriters as the directors deem necessary
or desirable for the conduct of the business of the authority. (16) To make, enter into, and
execute financing agreements and other contracts, agreements, or other instruments, and to
take other actions as may be necessary or convenient to accomplish any purpose for which the
authority was organized or to exercise any power granted to it. (17) To sell, exchange, and
convey any or all real or personal property belonging to the authority whenever its
directors shall find any such action to be in furtherance of the purposes for which the authority
was organized. (18) To acquire, hold, and dispose of real and personal property. (19)
To sell, assign, or otherwise convey to another person or entity, for such consideration as
the directors of the authority shall determine, the authority's right to receive and collect
the appropriated revenues or any portion thereof that have not been...
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