|
11-101A-17
Section 11-101A-17 Securities are legal investments. Securities issued under this chapter are
hereby made legal investments for savings banks and insurance companies organized under the
laws of the state. Unless otherwise directed by the court having jurisdiction thereof or the
document that is the source of authority, a trustee, executor, administrator, guardian, or
one acting in any other fiduciary capacity may, in addition to any other investment powers
conferred by law and with the exercise of reasonable business prudence, invest trust funds
in securities of an authority. The governing body of any authorizing subdivision, or any county
or municipality in which any project of an authority may be situated, may, in its discretion,
invest in securities of the authority any idle or surplus money held in its treasury which
is not otherwise earmarked or pledged. (Act 2001-642, p. 1317, §1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-101A-17.htm - 1K - Match Info - Similar pages
27-5A-2
Section 27-5A-2 Definitions. As used in this chapter, the following terms shall have the following
meanings, respectively, unless the context clearly indicates otherwise: (1) ACTUARY. A person
who is a member in good standing of the American Academy of Actuaries. (2) COMMISSIONER. The
Alabama Commissioner of Insurance. (3) CONTROLLING PERSON. Any person, firm, association,
or corporation who directly or indirectly has the power to direct or cause to be directed,
the management, control, or activities of the reinsurance intermediary. (4) INSURER. Any person,
firm, association, or corporation duly licensed in this state pursuant to the applicable provisions
of the insurance law as an insurer. (5) LICENSED PRODUCER. An insurance producer or reinsurance
intermediary licensed pursuant to the applicable provision of the insurance law. (6) QUALIFIED
U.S. FINANCIAL INSTITUTION. An institution that: a. Is organized or, in the case of a U.S.
office of a foreign banking organization, licensed,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-5A-2.htm - 4K - Match Info - Similar pages
22-21-326
Section 22-21-326 Securities issued under article as legal investments. Securities issued under
the provisions of this article are hereby made legal investments for savings banks and insurance
companies organized under the laws of the state. Unless otherwise directed by the court having
jurisdiction thereof or the document that is the source of authority, a trustee, executor,
administrator, guardian or one acting in any other fiduciary capacity may, in addition to
any other investment powers conferred by law and with the exercise of reasonable business
prudence, invest trust funds in securities of an authority. The governing body of any authorizing
subdivision (or any county or municipality in which any health care facilities of an authority
may be situated) is authorized, in its discretion, to invest in securities of such authority
any idle or surplus money held in its treasury which is not otherwise earmarked or pledged.
(Acts 1982, No. 82-418, p. 629, §17.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-326.htm - 1K - Match Info - Similar pages
27-6-3
Section 27-6-3 Deposits of insurers - Composition. (a) All such deposits required under Sections
27-3-11, 27-3-12, and 27-3-14 for authority to transact insurance in this state shall consist
of certified checks, or certificates of deposit or any combination of securities, the market
value of which is readily ascertainable, and, if negotiable by delivery or assignment, of
the kinds described below: (1) United States government obligations; (2) State, county, municipal,
and school obligations; (3) Public improvement obligations; (4) Housing authority obligations;
(5) Obligations, stock of certain federal agencies; (6) Canadian governmental obligations;
(7) International banks; (8) Corporate obligations; (9) Equipment trust obligations; and (10)
Railroad leased lines, terminal obligations. (b) All such deposits required of a domestic
insurer pursuant to the laws of another state, province, or country shall be comprised of
securities, if negotiable by delivery or assignment, of the kind,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-6-3.htm - 3K - Match Info - Similar pages
16-33C-6
Section 16-33C-6 PACT Program generally. (a) The PACT Program is established as one college
savings alternative under the plan whereby purchasers enter into PACT contracts for the future
payment of tuition and mandatory fees at eligible educational institutions. The PACT Program
includes the PACT Trust Fund and the PACT Administrative Fund created pursuant to this chapter.
(b) The official location of the trust fund shall be the State Treasurer's office, and the
facilities of the State Treasurer shall be used and employed in the administration of the
fund including, but without limitation thereto, the keeping of records, the management of
bank accounts and other investments, the transfer of funds, and the safekeeping of securities
evidencing investments. The PACT Trust Fund is hereby created as the source for payment of
the PACT Program's obligations under PACT contracts. The amounts on deposit in the PACT Trust
Fund shall not constitute property of the state, and the state may have no...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-33C-6.htm - 5K - Match Info - Similar pages
2-6-117
Section 2-6-117 Disposition of refunding bond proceeds. (a) The proceeds of refunding bonds
shall be applied, together with any other moneys legally available, to the payment of the
expenses authorized by this article and to the payment of the principal of, premium, if any,
and interest due and to become due on any outstanding bonds to be refunded. The expenses authorized
by this article shall include, in addition to other expenses authorized by this article, all
expenses that the board of directors may deem necessary or advantageous in connection with
the sale and issuance of refunding bonds, including, without limitation, the expenses of selling
and issuing such refunding bonds, including any discount reflected in the purchase price paid
to the corporation, fees and disbursements of attorneys, accountants, fiscal agents, financial
advisors, and other consultants, fees and disbursements of trustees, escrow agents, registrars,
paying agents, transfer agents, depositories for...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/2-6-117.htm - 3K - Match Info - Similar pages
11-28-4
Section 11-28-4 Authorization of refunding warrants. Each county may at any time and from time
to time issue refunding warrants for the purpose of refunding refundable debt then outstanding,
whether such refunding shall occur before, at or after the maturity of the refundable debt
to be refunded, and such refunding warrants shall be governed by the provisions of this chapter
as and to the same extent applicable to warrants authorized in Section 11-28-2. In the discretion
of the county commission of the issuing county, such refunding warrants may be issued in exchange
for the instruments evidencing the refundable debt to be refunded or they may be sold and
the proceeds thereof applied to the purchase, redemption or payment of such instruments. Refunding
warrants to be issued in exchange for outstanding instruments evidencing refundable debt shall
be issued in such principal amount and shall bear such interest that the combined total of
such principal amount and the interest accrued...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-28-4.htm - 5K - Match Info - Similar pages
11-62-11
Section 11-62-11 Investment in bonds and notes by state, counties, municipalities, etc. The
notes and bonds of any authority shall be legal investments in which the state and its agencies
and instrumentalities, all counties, municipalities, and other political subdivisions of the
state and public corporations organized under the laws thereof, all insurance companies and
associations and other persons carrying on an insurance business, all banks, savings banks,
savings and loan associations, trust companies, credit unions, and investment companies of
any kind, all administrators, guardians, executors, trustees, and other fiduciaries and all
other persons whatsoever who are now or may hereafter be authorized to invest in bonds or
other obligations of the state may properly and legally invest funds in their control or belonging
to them. (Acts 1979, No. 79-332, p. 506, §11.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-62-11.htm - 1K - Match Info - Similar pages
11-47-231
Section 11-47-231 Bonds as legal investments. The bonds of an authority shall be legal investments
in which the state and its agencies and instrumentalities, all counties, municipalities, and
other political subdivisions of the state and public corporations organized under the laws
thereof, all insurance companies and associations and other persons carrying on an insurance
business, all banks, savings banks, savings and loan associations, trust companies, credit
unions, and investments companies of any kind, all administrators, guardians, executors, trustees
and other fiduciaries, and all other persons whosoever are now or may hereafter be authorized
to invest in bonds or other obligations of the state, may properly and legally invest funds
in their control or belonging to them. (Acts 1996, No. 96-320, p. 361, §13.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-47-231.htm - 1K - Match Info - Similar pages
11-89A-20
Section 11-89A-20 Bonds of authority as legal investments. The bonds of any authority shall
be legal investments in which the state and its agencies and instrumentalities, all counties,
municipalities and other political subdivisions of the state and public corporations organized
under the laws thereof, all insurance companies and associations and other persons carrying
on an insurance business, all banks, savings banks, savings and loan associations, trust companies,
credit unions and investment companies of any kind, all administrators, guardians, executors,
trustees and other fiduciaries, and all other persons whosoever are now or may hereafter be
authorized to invest in bonds or other obligations of the state, may properly and legally
invest funds in their control or belonging to them. (Acts 1980, No. 80-278, p. 368, §21.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-89A-20.htm - 1K - Match Info - Similar pages
|