11-65-10
Section 11-65-10 Powers and duties of commission. When authorized by one or more elections as provided in Section 11-65-4, a commission shall have the powers and duties necessary to license, regulate, and supervise horse racing and pari-mutuel wagering thereon and greyhound racing and pari-mutuel wagering thereon within the commission municipal jurisdiction, including, without limiting the generality of the foregoing, the powers and duties hereinafter set forth in this section or in other sections of this chapter. (1) A commission shall have succession in perpetuity, subject only to the provisions of this chapter as it may be amended from time to time. (2) A commission shall have the power to sue and be sued in its own name in civil suits and actions and to defend suits against it. (3) A commission shall have the power to adopt and make use of an official seal and to alter the same at pleasure. (4) A commission shall have the power to adopt, alter, and repeal bylaws, regulations and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-65-10.htm - 26K - Match Info - Similar pages
27-29-3
Section 27-29-3 Acquisition of control of, or merger with, domestic insurers. (a)(1) No person other than the issuer shall make a tender offer for or a request or invitation for tenders of, or enter into any agreement to exchange securities for, seek to acquire, or acquire in the open market any voting security of a domestic insurer if, after the consummation thereof, such person would, directly or indirectly, or by conversion or by exercise of any right to acquire, be in control of such insurer, and no person shall enter into an agreement to merge with or otherwise to acquire control of a domestic insurer, or any person controlling a domestic insurer unless, at the time any such offer, request, or invitation is made or any such agreement is entered into, or prior to the acquisition of such securities if no offer or agreement is involved such person has filed with the commissioner and has sent to such insurer a statement containing the information required by this section and such...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-29-3.htm - 17K - Match Info - Similar pages
10A-1-8.01
Section 10A-1-8.01 Conversion of business and nonprofit entities. (a) A conversion of an entity may be accomplished as provided in this section: (1) CORPORATIONS. a. The terms and conditions of a plan of conversion of a corporation, other than a nonprofit corporation, must be approved in accordance with the procedures and by the stockholder vote required by Article 9 of Chapter 2A. If the governing documents provide for approval of a conversion by less than all of a corporation's stockholders, approval of the conversion shall constitute corporate action subject to appraisal rights pursuant to Article 13 of Chapter 2A. No conversion of a corporation to a general or limited partnership may be effected without the consent in writing of each stockholder who will have personal liability with respect to the converted entity, notwithstanding any provision in the governing documents of the converting corporation providing for less than unanimous stockholder approval for the conversion. b. The...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-1-8.01.htm - 18K - Match Info - Similar pages
24-1A-5
Section 24-1A-5 Powers of authority. The authority shall have the following powers: (1) To have succession by its corporate name until the principal of and interest on the bonds shall have been fully paid and until it shall have been dissolved as provided in this chapter; (2) To sue and be sued and to prosecute and defend in any court having jurisdiction of the subject matter and of the parties thereto; (3) To adopt and use a corporate seal and to alter the seal at pleasure; (4) To establish a fiscal year; (5) To maintain an office in the City of Montgomery; (6) To adopt, and from time to time amend and repeal, bylaws and rules and regulations, not inconsistent with this chapter, to carry into effect the powers and purposes of the authority in the conduct of its business; (7) To purchase mortgage loans from mortgage lenders; (8) To contract with mortgage lenders for the origination of, or the servicing, of mortgage loans to be made by such mortgage lenders and the servicing of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/24-1A-5.htm - 7K - Match Info - Similar pages
22-21-109
Section 22-21-109 Issuance of securities - Sale; expenses, etc. All securities issued under this division may be sold, either at private or public sale, in such manner, and from time to time, as may be determined by the directors of the hospital corporation issuing the same to be most advantageous. The hospital corporation may pay all expenses, premiums, commissions and attorneys' fees which its directors may deem necessary or advantageous in connection with any financing or proposed financing done by it. (Acts 1949, No. 640, p. 981, ยง7.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-109.htm - 852 bytes - Match Info - Similar pages
45-39-92.53
Section 45-39-92.53 Abolition of corporation upon payment in full of securities; disposition of proceeds. (a) When the original securities secured by a pledge of the taxes authorized in this subpart, including refunding securities hereafter issued to refund the original securities, for the Shoals Economic Development Project have been paid in full, the local public corporation is abolished. Securities for which an irrevocable trust fund consisting of cash or direct general obligations of the United States of America, or both, is established for retirement of all of the principal of or interest on any outstanding security, shall be deemed paid in full for the purposes of this subpart. (b) Notwithstanding any other provision of this subpart, the local public corporation may not increase any outstanding debt or debt obligations or create additional debts relating to the original bond balance owed as of May 12, 2005. (c) (1) Upon abolishment of the local public corporation, the proceeds of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-39-92.53.htm - 1K - Match Info - Similar pages
2-6-81
Section 2-6-81 Refunding securities. Any securities issued by the corporation may from time to time thereafter be refunded by the issuance of refunding securities of the corporation, but the amount of any refunding securities so issued shall not exceed the principal of the securities refunded thereby together with any unpaid interest thereon, any redemption premium thereon and any expenses of such refunding. Any such refunding securities may be issued regardless of whether the securities to be refunded shall have then matured or shall thereafter mature, and such refunding may be effected either by sale of the refunding securities and the application of the proceeds thereof to the payment or redemption of the securities so refunded or by exchange of the refunding securities for those to be refunded thereby; provided, that the holders of any securities so to be refunded shall not be compelled without their consent to surrender their securities for payment or exchange prior to the date on...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/2-6-81.htm - 2K - Match Info - Similar pages
22-21-338
Section 22-21-338 Authority as designated agency for purposes of Division 2 of Article 4 of this chapter. An authority shall constitute a "hospital corporation" as that term is used in Division 2 of Article 4 of this chapter; and any county otherwise authorized to do so may designate any authority having the power to own and operate health care facilities situated in such county as the agency of such county to acquire, construct, equip, operate and maintain public hospital facilities in such county, in the manner and with the consequences specified in said Division 2. Such authority shall, if so designated, receive the proceeds from any special public hospital tax referred to in said Division 2. Further, the reincorporation hereunder of any public hospital corporation that has theretofore been designated as the agency of a county to acquire, construct, equip, operate and maintain public hospital facilities in such county shall in no way impair or invalidate such designation, and such...
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11-81-18
Section 11-81-18 Pledge of revenues from license, privilege, or excise taxes for payment of principal and interest on bonds. In any case in which a municipality or county may hereafter issue any securities, including bonds, warrants, notes and certificates of indebtedness, whether such securities are general obligations of the municipality or county or are payable solely from a special source, there may be pledged to the payment of the principal of and the interest on such securities all or any part of that portion of the proceeds from any license or privilege tax or excise tax levied by any act of the Legislature which may be apportioned and paid to such municipality or county; provided, however, that such pledge may be made only for the benefit of securities issued for a purpose or purposes for which the tax proceeds so apportioned to any such municipality or county are permitted by any such act to be used. In any case in which a pledge is made under the provisions of this section,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-81-18.htm - 2K - Match Info - Similar pages
11-9-22
Section 11-9-22 Authority for issuance; form, terms, denominations, etc.; sale and disposition of proceeds; pledge for payment of principal and interest generally. Each county shall have the power from time to time to sell and issue interest-bearing warrants of such county for the purpose of paying costs to that county of acquiring and providing one or more waterworks systems for the purpose of rendering water service in any part of the county; provided, that the county shall not render water service within any municipality except pursuant to franchise granted to the county by such municipality. Any warrants issued under the provisions of this article may be in such denomination or denominations, may have such maturity or maturities not exceeding 30 years from their date, may bear interest from their date at such rate or rates payable at such times, may be payable at such place or places within or without the state, may be sold at such time or times and in such manner, whether publicly...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-9-22.htm - 2K - Match Info - Similar pages
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