19-4A-6
Section 19-4A-6 Compensation. In the absence of specific instructions in the governing document,
the fiduciary may receive compensation for the investment of idle funds by netting said compensation
from the yield of the investment; provided, however, that disclosure of the compensation (expressed
as a percentage of asset value or otherwise) is made to the current income beneficiary by
mailing separate notice (by prospectus, statement, letter or otherwise) to the current income
beneficiary's last known address. (Acts 1991, No. 91-129, p. 163, §1(f).)...
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16-16-9
Section 16-16-9 Execution, form, terms and conditions of bonds; sale; refunding bonds; bonds
to be limited obligations; security for payment; bonds as negotiable instruments; exemption
from taxation; bonds as security for deposits and for investment of fiduciary funds. (a) The
bonds of the authority shall be signed by its president and attested by its secretary, and
the seal of the authority shall be affixed thereto, and any interest coupons applicable to
such bonds shall be signed by the president; provided, that a facsimile of the signature of
one, but not both, of the said officers may be printed or otherwise reproduced on any such
bonds in lieu of his manually signing the same, a facsimile of the seal of the authority may
be printed or otherwise reproduced on any such bonds in lieu of being manually affixed thereto
and a facsimile of the president's signature may be printed or otherwise reproduced on any
such interest coupons in lieu of his manually signing the same. (b) Any bonds...
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19-3-120.1
Section 19-3-120.1 Investments in common trusts, collective investment funds, and interests
of investment companies and trusts. In addition to the investments authorized by Section 19-3-120,
by any other provision of law for the investment of funds held by a trustee, executor, administrator,
guardian, conservator or other fiduciary, or by the will, trust agreement or other document
which is the source of authority, such fiduciary, other than a trustee governed by Chapter
3B, may invest in and hold (1) interests, however evidenced, in any common trust fund or other
collective investment fund maintained by any national or state chartered bank, trust company
or savings and loan association having trust powers, or (2) securities of or other interests
in any open-end or closed-end management type investment company or investment trust registered
under the Investment Company Act of 1940, as from time to time amended, so long as the portfolio
of such common trust fund, collective investment...
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19-3A-202
Section 19-3A-202 Distribution to residuary and remainder beneficiaries. (a) Each beneficiary
described in Section 19-3A-201(d) is entitled to receive a portion of the net income equal
to the beneficiary's fractional interest in undistributed principal assets, using inventory
values as of the appropriate distribution dates. (b) In determining a beneficiary's share
of net income, the following rules apply: (1) The beneficiary's fractional interest in the
undistributed principal assets shall be calculated without regard to property specifically
given to the beneficiary and property required to pay pecuniary amounts not in trust. (2)
The beneficiary's fractional interest in the undistributed principal assets shall be calculated
on the basis of the aggregate inventory value of those assets as of the distribution date
without reducing the value by any unpaid principal obligation. (c) If a fiduciary does not
distribute all of the collected but undistributed net income to each person as of a...
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40-20-8
Section 40-20-8 Allocation and distribution of net taxes collected; property which consists
of submerged lands and onshore lands; onshore lands defined; applicability of section; final
determination establishing allocation base. (a) Ninety percent of the net amount of all taxes
herein levied and collected by the department on oil or gas produced from submerged lands
as herein defined shall be deposited to the State General Fund. The remaining 10 percent of
such net amount shall be allocated and distributed by the Comptroller to the county in which
the oil or gas was produced for county purposes or to be expended at the discretion of the
county governing body. (b) Twenty-five percent of the net amount of all taxes herein levied
and collected by the department, except as provided herein in subsection (a), shall be deposited
by the department to the General Fund of the state. (c) Sixty-six and two-thirds percent of
the remaining 75 percent of all taxes herein levied and collected by the...
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19-3A-402
Section 19-3A-402 Distributions from trust or decedent's estate. A fiduciary shall allocate
to income an amount received as a distribution of income from a trust or a decedent's estate
in which the trust has an interest other than a purchased interest, and shall allocate to
principal an amount received as a distribution of principal from such a trust or decedent's
estate. If a fiduciary purchases an interest in a trust that is an investment entity, or a
decedent or donor transfers an interest in such a trust to a fiduciary, then Section 19-3A-401
or Section 19-3A-415 applies to a receipt from such a trust. (Act 2000-675, p. 1343, §1.)...

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22-21-110
Section 22-21-110 Issuance of securities - Investment of trust funds. Unless otherwise directed
by the court having jurisdiction thereof and by the document which is the source of authority,
a fiduciary may, with the exercise of reasonable business prudence, invest trust funds in
securities of a hospital corporation for payment of the principal of, and interest on, which
the proceeds of any ad valorem, excise, license or privilege tax are pledged. (Acts 1949,
No. 640, p. 981, §8.)...
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41-23-193
Section 41-23-193 Creations; functions; fee. (a) The Alabama Public Transportation Trust Fund
is created in the State Treasury for the distribution of designated funds appropriated by
the Legislature or collected from grants or other sources for the purpose of increasing public
transportation options across the State of Alabama. The trust fund shall be maintained and
administered by the department. (b) The department shall do all of the following in maintaining
and administering the trust fund: (1) Invest and reinvest all money held in the trust fund
in investments under the department's investment policies. (2) Keep books and records relating
to the investment, interest earnings, and uses of monies deposited into the trust fund. (3)
Establish procedures for the withdrawal, allocation, and use of the monies held in the trust
fund for the purposes described in Section 41-23-194. (4) Publish, on an annual basis, criteria
for determining the distribution of monies from the trust fund. (5)...
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45-26-244.39
Section 45-26-244.39 Creation of fund. The Elmore County Commission shall create a Rainy Day
Fund into which a minimum of five percent of the tax collected monthly under this subpart
shall be placed. The commission shall place the funds into an interest bearing account and
both interest and principal shall accumulate without expenditure until the Rainy Day Fund
shall reach the amount of one million dollars ($1,000,000). When the fund reaches that amount,
the commission may access the funds by giving public notice of the proposed use of the funds
for one month, and voting unanimously for the proposal in a regular commission meeting. (Act
2000-487, p. 921, §10.)...
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19-1-9
Section 19-1-9 Deposit in fiduciary's personal account. If a fiduciary makes a deposit
in a bank to his personal credit of checks drawn by him upon an account in his own
name as fiduciary, or of checks payable to him as fiduciary, or of checks drawn by him upon
an account in the name of his principal if he is empowered to draw checks thereon, or of checks
payable to his principal and indorsed by him, if he is empowered to indorse such checks, or
if he otherwise makes a deposit of funds held by him as fiduciary, the bank receiving such
deposit is not bound to inquire whether the fiduciary is committing thereby a breach of his
obligation as fiduciary; and the bank is authorized to pay the amount of the deposit or any
part thereof upon the personal check of the fiduciary without being liable to the principal
unless the bank receives the deposit or pays the check with actual knowledge that the fiduciary
is committing a breach of his obligation as fiduciary in making such deposit or in...
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