22-21-355
Section 22-21-355 Further provisions respecting investment of funds. In addition to the investment powers granted by the enabling statute, any authority shall, to the extent permitted by the contracts of such authority with the holders of its securities, have the further power to invest any portion of the principal proceeds derived from the sale of any of its securities not then needed for any of the purposes for which such securities were authorized to be issued, any moneys held in any special fund created pursuant to any resolution or mortgage, mortgage indenture, mortgage and trust indenture or trust indenture authorizing or securing any of its securities, and any other moneys of such authority not then needed by it, in any of the following: (1) Debt securities (whether general obligations or limited or special obligations) of any state, territory or possession of the United States of America and of any political subdivision of any such state, territory or possession, but if and...
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27-41-37
Section 27-41-37 Investments of mutual aid associations - Generally. (a) The funds of a mutual aid association shall be in cash or shall be invested as provided in Sections 27-41-3 through 27-41-36 and Section 27-41-38 as applicable to life insurers, except that: (1) Funds of the association to the extent of its reserve liabilities resulting from valuation of its contracts providing for benefits, aid, or services payable or to be rendered other than in cash may, at the option of the association, be invested in securities or assets eligible for investment of the funds of life insurers in general, but with category limits as follows in lieu of limits otherwise applicable thereto under Sections 27-41-3 through 27-41-36: a. Not to exceed 25 percent of the reserves of the association in the aggregate may be invested in preferred and guaranteed stocks authorized in Section 27-41-16 and common stocks authorized under Section 27-41-17; b. Not to exceed 10 percent of such reserves may be...
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41-9-85.1
Section 41-9-85.1 Definitions. As used in this division, the following terms shall have the following meanings: (1) CONVICTED INDIVIDUAL. An individual convicted of a specified crime or a representative of the individual. (2) EARNED INCOME. Income derived from an individual's own labor or active participation in a business. The term does not include income from dividends or investments. (3) FUNDS OF A CONVICTED INDIVIDUAL. Funds and property received from any source by a convicted individual. The term includes funds that a superintendent, sheriff, municipal official, or other correctional official receives on behalf of a convicted individual and deposits into the individual's inmate or prisoner account to the credit of the individual. The term does not include funds from child support payments and earned income, except any income defined as profits from a crime. (4) PERSON. An individual, corporation, estate, partnership, association, or other legal entity, or representative of such....
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27-31-18
Section 27-31-18 Subscribers; exchange of insurance contracts; liability of representatives. Individuals, partnerships, and corporations of this state may make application, enter into agreement for, and hold, policies or contracts in, or with, and be a subscriber of any domestic, foreign, or alien reciprocal insurer. Any corporation now or hereafter organized under the laws of this state shall, in addition to the rights, powers, and franchises specified in its articles of incorporation, have full power and authority as a subscriber to exchange insurance contracts through such reciprocal insurer. The right to exchange such contracts is hereby declared to be incidental to the purposes for which such corporations are organized and to be as fully granted as the rights and powers expressly conferred upon such corporations. Government or governmental agencies, state or political subdivisions thereof, boards, associations, estates, trustees, or fiduciaries are authorized to exchange...
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41-9-80.2
Section 41-9-80.2 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2019 REGULAR SESSION, EFFECTIVE JUNE 10, 2019. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. As used in this division, the following terms shall have the following meanings: (1) CONVICTED INDIVIDUAL. An individual convicted of a specified crime or a representative of the individual. (2) EARNED INCOME. Income derived from an individual's own labor or active participation in a business. The term does not include income from dividends or investments. (3) FUNDS OF A CONVICTED INDIVIDUAL. Funds and property received from any source by a convicted individual. The term includes funds that a superintendent, sheriff, municipal official, or other correctional official receives on behalf of a convicted individual and deposits into the individual's inmate or prisoner account to the credit of the individual. The term does not include funds from child support payments and earned income, except any income defined as profits...
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11-62-1
Section 11-62-1 Definitions. (a) 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: (1) AUTHORITY. Any public corporation organized pursuant to this chapter. (2) AUTHORIZED PURPOSE OBLIGATION. The term includes either of the following: a. Any lease, note, installment sale contract, or any other obligation of a user, whether general or special, which was entered into, made, assumed, or otherwise incurred by the user, in whole or in part, for the purpose of financing the acquisition or ownership of one or more facilities, for the purpose of obtaining funds with which to operate one or more facilities or for any combination of those purposes. b. Any obligation of any kind which was entered into, made, assumed, or otherwise incurred by the United States of America or any department, agency, or instrumentality...
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23-6-1
Section 23-6-1 Definitions. Where used in this chapter the following words and terms shall be given the following respective meanings unless the context hereof clearly indicates otherwise: (1) BOARD OF DIRECTORS. The board of directors of the corporation. (2) CODE. The Code of Alabama 1975, as amended. (3) CORPORATION. The public corporation authorized to be created by this chapter. (4) GOVERNMENT SECURITIES. Any bonds or other obligations which as to principal and interest constitute direct obligations of, or are unconditionally guaranteed by, the United States of America, including obligations of any federal agency to the extent such obligations are unconditionally guaranteed by the United States of America and any certificates or any other evidences of an ownership interest in such obligations of, or unconditionally guaranteed by, the United States of America or in specified portions thereof (which may consist of the principal thereof or the interest thereon). (5) INDUSTRIAL ACCESS...
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11-86A-16
Section 11-86A-16 Application of proceeds from the sale of bonds; source of payment; pledge of county's or municipality's credit; negotiability; exemption from taxation; pledge as security for funds belonging to a public person; investment in bonds by fiduciaries; no public hearing required; investment in bonds by Teachers' Retirement System of Alabama, the Employees' Retirement System of Alabama, and the State Insurance Fund; investment in bonds by public persons. (a) The proceeds from the sale of any bonds shall be applied as provided in the proceedings in which the bonds are authorized to be issued, including, without limitation, the payment of all legal, fiscal, and recording fees and expenses incurred in connection with the authorization, sale, and issuance of the bonds and, if provided in the proceedings authorizing their issuance, interest on the bonds (or if only a part of any issue of bonds is issued for acquisition purposes, interest on that portion of the bonds of that issue...
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11-95-7
Section 11-95-7 Powers of corporation. In addition to all other powers granted elsewhere in this chapter, a corporation shall have the following powers, together with all powers incidental thereto or necessary to the discharge thereof in corporate form: (1) To have succession by its corporate name for the duration of time (which may be perpetuity, subject to the provisions of Section 11-95-19) specified in its certificate of incorporation; (2) To sue and be sued in its own name in civil suits and actions, and to defend suits against it; (3) To adopt and make use of a corporate seal and to alter the same at pleasure; (4) To adopt and alter bylaws for the regulation and conduct of its affairs and business; (5) To acquire, construct, equip, enlarge, improve, maintain, and operate hospital facilities in the authorizing county and to do all things necessary to that end; (6) To receive, acquire, take and hold, whether by purchase, gift, lease, devise, or otherwise, real and personal property...
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41-10-260
Section 41-10-260 Definitions. The following terms, wherever used in this article, shall have the following respective meanings unless the context clearly indicates otherwise: (1) AUTHORITY. The public corporation organized pursuant to the provisions of this article. (2) BOARD OF DIRECTORS. The board of directors of the authority. (3) BONDS. When used with reference to debt instruments issued by the authority, means bonds, notes and other forms of indebtedness. (4) BUILDING COMMISSION. The Building Commission created by Act No. 128 adopted at the 1945 Regular Session of the Legislature of the state, and any successor agency thereto. (5) CHIEF JUSTICE. The Chief Justice of the Supreme Court of the State of Alabama. (6) GOVERNMENT SECURITIES. Any bonds or other obligations which as to principal and interest constitute direct obligations of, or are unconditionally guaranteed by, the United States of America, including obligations of any federal agency to the extent such obligations are...
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