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5-20-3
Section 5-20-3 Definitions. Notwithstanding any other provision of law, for the purposes
of this chapter, the following terms shall have the meanings prescribed by this section:
(1) ALABAMA BANK. A bank which is organized under the laws of this state or of the United
States and which has its principal place of business in this state. (2) BANK. Any "insured
bank" as such term is defined in Section 3(h) of the Federal Deposit Insurance
Act, 12 U.S.C. §1813(h). (3) BANK HOLDING COMPANY. Any company which is a bank holding company
under the Bank Holding Company Act of 1956, as amended, 12 U.S.C. §1841(a). (4) CREDIT CARD.
Any type of arrangement or agreement pursuant to which any domestic lender or credit card
bank, whether directly or indirectly through any domestic lender acting as its agent, gives
a debtor the privilege of using a credit card or other credit confirmation, device or instrument
of any type in transactions out of which debt arises: a. By the domestic lender or credit...
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16-60-111.11
Section 16-60-111.11 Additional powers of board. (a) The board may exercise all of the
following powers: (1) To borrow money from the United States of America or any department
or agency thereof, or from any person, firm, corporation, or other lending agency for the
purchase, construction, enlargement, or alteration of any buildings or other improvements,
including dormitories, dining halls, classrooms, laboratories, libraries, stadiums, administration
buildings, and any other buildings and appurtenances thereto suitable for use by the institution
or institutions with respect to which the borrowing is made, or for the benefit of the Alabama
Community College System or one or more of its programs, the acquisition of furniture and
equipment for any thereof, the purchase of land, the beautification of grounds, and the construction
of swimming pools, tennis courts, athletic fields, and other facilities for physical education,
all for use by such institution or institutions, and for the...
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23-1-301
Section 23-1-301 Definitions. When used in this article, the following words and phrases
shall have the following respective meanings unless the context clearly indicates otherwise:
(1) AUTHORITY. The Alabama Federal Aid Highway Finance Authority, a public corporation and
instrumentality of the state authorized to be organized under the provisions of this article.
(2) BOARD OF DIRECTORS. The board of directors of the authority. (3) BONDS. The bonds, including
refunding bonds issued to refund outstanding obligations, that in this article are authorized
to be sold and issued by the authority. (4) CORPORATION. The authority. (5) HIGHWAY GASOLINE
TAX. The excise tax levied under subdivision (1) of subsection (a) of Section 40-17-325,
with the exception of those portions of the tax levied on aviation fuel and marine gasoline.
(6) LEGISLATURE. The Legislature of Alabama. (7) NET GASOLINE TAX PROCEEDS. The entire proceeds
from the highway gasoline tax less the cost of collection and less any...
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37-7-1
Section 37-7-1 Definitions. The following terms, whenever used or referred to in this
chapter, shall have the following meanings, unless a different meaning clearly appears from
the context: (1) CORPORATION. A corporation formed under this chapter. (2) MUNICIPALITY. Any
county, city or town of this state. (3) PERSON or INHABITANT. Such term includes natural persons,
firms, associations, corporations, business trusts, partnerships and bodies politic. (4) ENERGY.
Such term includes any and all electric energy no matter how generated or produced. (5) SYSTEM.
Such term includes any plant, works, system, facilities or properties, together with all parts
thereof and appurtenances thereto, used or useful in the generation, production, transmission
or distribution of energy. (6) BONDS. Such term includes negotiable bonds, interim certificates
or receipts, notes, debentures and all other evidences of indebtedness either issued or the
payment thereof assumed by a corporation. (7) LAW. Any act or...
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5-12A-1
Section 5-12A-1 Definitions. As used in this chapter, the following terms shall have
the following meanings, respectively, unless the context clearly indicates otherwise: (1)
TRUST INSTITUTION. Any state bank, any national bank or any trust company authorized to act
in a fiduciary capacity in this state and under the supervision of the Comptroller of the
Currency of the United States or the Federal Reserve System, or the Superintendent of Banks
of the State of Alabama. (2) AFFILIATED TRUST INSTITUTION. A trust institution which, together
with one or more other trust institutions, are each owned or controlled by a bank holding
company which is under the supervision of the Board of Governors of the Federal Reserve System.
(3) OWNED OR CONTROLLED. The ownership by a bank holding company of stock possessions of at
least 80 percent of the voting power of all classes of stock and at least 80 percent of each
class of the nonvoting stock (other than nonvoting stock which is limited and...
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5-24-1
Section 5-24-1 Definitions. In this chapter: (1) ACCOUNT means a contract of deposit
between a depositor and a financial institution, and includes a checking account, savings
account, time deposit, certificate of deposit, and share account. (2) AGENT means a person
authorized to make account transactions for a party. (3) BENEFICIARY means a person named
as one to whom sums on deposit in an account are payable on request after death of all parties
or for whom a party is named as trustee. (4) DEVISEE means any person designated in a will
to receive a testamentary disposition of real or personal property. (5) FINANCIAL INSTITUTION
means an organization authorized to do business under state or federal laws relating to financial
institutions, and includes a bank, trust company, savings bank, building and loan association,
savings and loan company or association, and credit union. (6) HEIRS means those persons,
including surviving spouse, who are entitled under the statutes of intestate...
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5-7A-62
Section 5-7A-62 Application to convert charter; written plan of conversion; authorizing
resolution; submission to superintendent; fee; tentative approval; vote of stockholders or
members; directors; articles of incorporation and bylaws; statement of superintendent's objections;
amendment; appeal of disapproval; application to FDIC; final approval and permit. Any savings
institution may apply to the superintendent for permission to convert its charter in order
to do business as a state chartered bank in accordance with the following procedures: (1)
The board of directors shall approve a written plan of conversion, the application for conversion
and shall adopt an authorizing resolution, all by a vote of a majority of all the directors.
The plan of conversion shall include a statement of: a. The proposed organization and management
structure of the resulting bank if the application were approved, and the proposed name under
which it would do business as a bank; b. The method and time...
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35-5A-2
Section 35-5A-2 Definitions. As used in this chapter, the following terms shall have
the following meanings, respectively, unless the context clearly indicates otherwise: (1)
ADULT. An individual who has attained the age of 21 years. (2) BENEFIT PLAN. An employer's
plan for the benefit of an employee or partner, or an individual retirement account. (3) BROKER.
A person lawfully engaged in the business of effecting transactions in securities or commodities
for the person's own account or for the account of others. (4) CONSERVATOR. A person appointed
or qualified by a court to act as general, limited, or temporary guardian of a minor's property
or a person legally authorized to perform substantially the same functions. (5) COURT. Circuit
court. (6) CUSTODIAL PROPERTY. a. Any interest in property transferred to a custodian under
this chapter and b. The income from and proceeds of that interest in property. (7) CUSTODIAN.
A person so designated under Section 35-5A-10 or a successor or...
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5-5A-28
Section 5-5A-28 Pledge of assets. No bank may pledge assets as security for deposits,
except any bank is authorized to pledge acceptable assets as security for deposits of trust
funds deposited by its trust department and of public funds, heretofore or hereafter deposited,
by the United States or any agency or governmental instrumentality of the United States or
by a state or any political subdivision of a state or any agency or other governmental instrumentality
of such subdivision, including any county, municipal corporation, county, city, or other public
board of education, including any custodian or treasurer of county, city, or other public
school funds, any improvement authority heretofore or hereafter incorporated or any public
corporation, including each board, authority, or district heretofore or hereafter organized
or created in a state pursuant to authorization or determination by any municipality or municipalities
or by any county or counties or the governing body of any...
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11-95-2
Section 11-95-2 Definitions. The following words and phrases used in this chapter, and
others evidently intended as the equivalent thereof, shall, in the absence of clear implication
herein otherwise, be given the following respective interpretations herein and shall, except
where the context otherwise requires, be deemed to cover both singular and plural: (1) ALTERNATING
DIRECTOR. The director initially elected by the governing body of the authorizing municipality
and thereafter alternately by the governing bodies of the authorizing county and the authorizing
municipality. (2) APPLICANT. A natural person who files a written application with the governing
body of any county and with the governing body of any municipality located wholly or partially
within such county in accordance with the provisions of Section 11-95-3. (3) AUTHORIZING
COUNTY. Any county the governing body of which shall have adopted an authorizing resolution.
(4) AUTHORIZING MUNICIPALITY. Any municipality the...
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