22-30F-3
Section 22-30F-3 Definitions. The following words and phrases, whenever used in this chapter, shall have the following respective meanings unless the context clearly indicates otherwise: (1) AUTHORITY. The corporation organized pursuant to this chapter as a public corporation, agency, and instrumentality of the state and known as the "Alabama Land Recycling Finance Authority." (2) AUTHORIZING RESOLUTION. A resolution, order, or other proceedings adopted by the board of directors of the authority authorizing the issuance of agreements and related matters. (3) BOARD OF DIRECTORS. The board of directors of the authority. (4) DEPARTMENT. The Alabama Department of Environmental Management or any successor. (5) ELIGIBLE PROPERTY. Property which qualifies under Section 22-30E-6 for participation in the voluntary cleanup program established pursuant to Chapter 30E of this title, and which is owned and operated by an applicant or applicants which qualifies for the limitation of liability as...
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5-5A-22
Section 5-5A-22 Limits of indebtedness. (a) No bank shall make a loan to any one person which, when combined with all other loans to such person, would cause total loans to that person to exceed: (1) Ten percent of the capital accounts of the bank, if such loans are not secured, or (2) Twenty percent of the capital accounts of the bank, if loans in excess of 10 percent of capital are fully secured. (b) No loans which would exceed the limitation set forth in subsection (a)(1) shall be made unless duly authorized or approved in advance by the board of directors of the bank, a committee of the board of directors of the bank, or a loan committee, with such authorization or approval recorded in minutes of the meeting at which the authority was given. (c)(1) As used in this section, the term "capital accounts" shall include capital, surplus, and undivided profits as defined in Section 5-1A-2, together with obligations of the bank subordinated in priority upon liquidation or dissolution to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-5A-22.htm - 6K - Match Info - Similar pages
22-23B-7
Section 22-23B-7 Purpose; issuing, selling and refunding of bonds. For the purpose of providing funds for the authority to make loans to public bodies for a project or projects, or for the payment of obligations incurred or temporary loans made for any of said purposes, the authority is hereby authorized, from time to time, to issue and sell its bonds or other evidences of indebtedness. Such bonds may be issued in one or more series; shall be in such form and denominations and of such terms and maturities, not exceeding 30 years from the date of issue of each series; shall bear such rate or rates of interest, payable and evidenced in such manner; may contain such provisions for registration or for redemption prior to maturity; and may contain such other provisions not inconsistent herewith, all as may be provided by the authorizing resolution. As security for the payment of the principal of and interest on its bonds, the authority is authorized to pledge, transfer and assign any...
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41-10-44.2
Section 41-10-44.2 Additional definitions. In addition to the definitions contained in Sections 41-10-20 and 41-10-36, the following terms shall have the following meanings, respectively, when used in this Article 2A unless the context clearly requires otherwise: (1) APPROVED COMPANY. Any corporation, partnership, trust or other form of business entity approved by the authority pursuant to the provisions hereof. (2) FINANCING AGREEMENT. Any loan, agreement, financing agreement, credit agreement, security agreement, mortgage, guaranty agreement or other type of agreement entered into by the authority and an approved company in connection with the financing of a project by the authority. (3) INDUSTRIAL or RESEARCH ENTERPRISE. Any trade or business described in 1987 Standard Industrial Classification Major Group 07, Major Groups 20 through 39, inclusive, 50 and 51, Industrial Group Number 737, and Industry Numbers 8731, 8733 and 8734, as set forth in the Standard Industrial Classification...
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9-14A-3
Section 9-14A-3 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: (a) AMENDMENT. Amendment 617 to the Constitution of Alabama of 1901, authorizing the issuance of the bonds. (b) CORPORATION. The respective public corporations authorized to be created by this chapter. (c) BOARD OF DIRECTORS. The respective board of directors of the corporations. (d) BONDS. The bonds issued under the provisions of this chapter. (e) CODE. The Code of Alabama 1975, as amended. (f) 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 the obligations are unconditionally guaranteed by the United States of America and any certificates or any other evidences of an ownership interest in such...
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11-54-127
Section 11-54-127 Additional powers of boards. (a) In addition to all other powers conferred on it by law, and subject to any express provisions of its certificate of incorporation to the contrary, any industrial development board shall have all of the following powers, together with all powers incidental thereto or necessary to the discharge thereof in corporate form: (1) To create or establish one or more endowment trust funds. (2) To receive and accept from any private source, for the account of any endowment trust fund so created or established by it, contributions in the form of gifts of money, stocks, bonds, and other debt securities, other personal property, whether tangible or intangible, and real property of any description, subject, in the case of any such contribution, to any lawful condition to the use thereof that is specified by the donor thereof and that is not inconsistent with the provisions of this division. (3) To deposit, or to cause to be deposited, into any...
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9-10B-5
Section 9-10B-5 Functions and duties of Office of Water Resources. The general functions and duties of the Office of Water Resources shall be as follows: (1) To develop long-term strategic plans for the use of the waters of the state by conducting and participating in water resource studies and by administering the laws established by this chapter and regulations promulgated hereunder; (2) Acting through the commission, to adopt and promulgate rules, regulations, and standards for the purposes of this chapter, and to develop policy for the state regarding the waters of the state; (3) To implement quantitative water resource programs and projects for the coordination, conservation, development, management, use, and understanding of the waters of the state; (4) To serve as a repository for data regarding the waters of the state; (5) To, at its discretion, study, analyze, and evaluate in coordination with, or with the assistance of, other agencies of the state, the federal government, any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/9-10B-5.htm - 9K - Match Info - Similar pages
11-54A-9
Section 11-54A-9 Powers of authority; all projects to be in development area. (a) The authority 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 Section 11-54A-20, specified in its certificate of incorporation. (2) To sue and be sued in its own name and to prosecute and defend civil actions in any court having jurisdiction of the subject matter and of the parties. (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, whether by purchase, construction, exchange, gift, lease, or otherwise and to refinance existing indebtedness on, improve, maintain, equip, and furnish one or more projects, including all real and personal properties which the board of the authority may...
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11-81-166
Section 11-81-166 Revenue bonds - Authority for issuance; authorization proceedings generally; form, terms, denominations, etc.; execution and delivery generally; maturity and sale; payment generally; trust indentures. (a) Any borrower may issue its revenue bonds for the purpose of: (1) Financing the acquisition, improvement, enlargement, extension and repair, or any of them, of a system or systems; (2) Refunding the principal of and the interest on any bonds of such borrower theretofore issued under this article and then outstanding, whether or not such principal and interest shall have matured at the time of such refunding; or (3) Financing any such acquisition, improvement, enlargement, extension and repair, or any of them, and refunding any such principal and interest. (b) Any bonds issued under this article shall be made payable solely out of the revenues from the operation of a system or systems of the borrower and may be made payable from any such revenues without regard to...
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25-5-8
Section 25-5-8 Employers' options to secure payment of compensation. (a) Option to insure risks. An employer subject to this chapter may secure the payment of compensation under this chapter by insuring and keeping insured his or her liability in some insurance corporation, association, organization, insurance association, corporation, or association formed of employers and workers or formed by a group of employers to insure the risks under this chapter, operating by mutual assessment or other plans or otherwise. Notwithstanding the foregoing, the insurance association, organization, or corporation shall have first had its contract and plan of business approved in writing by the Commissioner of the Department of Insurance of Alabama and have been authorized by the Department of Insurance to transact the business of workers' compensation insurance in this state and under the plan. Notwithstanding any other provision of the law to the contrary, the obligations of employers under law for...
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