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10A-2-7.32
to it. (e) An agreement authorized by this section that limits the discretion or powers of
the board of directors shall relieve the directors of, and impose upon the person or persons
in whom the discretion or powers are vested, liability for acts or omissions imposed by law
on directors to the extent that the discretion or powers of the directors are limited by the
agreement. (f) The existence or performance of an agreement authorized by this section shall
not be a ground for imposing personal liability on any shareholder for the acts or
debts of the corporation even if the agreement or its performance treats the corporation as
if it were a partnership or results in failure to observe the corporate formalities otherwise
applicable to the matters governed by the agreement. (g) Incorporators or subscribers for
shares may act as shareholders with respect to an agreement authorized by this section if
no shares have been issued when the agreement is made. (Acts 1994, No. 94-245, p....
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11-32-7
and trust indentures, or either. (17) Exercise the power of eminent domain, except as limited
by state law, except the authority may not acquire, without the consent of the owner, any
transportation system from which public transportation service is currently being furnished.
The authority may not by eminent domain acquire any real property or rights owned or held
by public or private railroads or utilities. (18) Expend funds for the purchase or lease of
materials, equipment, supplies, or other personal property without compliance with
Chapter 16 of Title 41. (19) Appoint, employ, contract with, and provide for the compensation
of, officers, employees, and agents, including, but without limitation to, engineers, attorneys,
management consultants, fiscal advisers, or other consultants without regard to Chapter 16
of Title 41, or any law establishing a civil service or merit system that might otherwise
be applicable, as the business of the authority may deem necessary or desirable, and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-32-7.htm - 14K - Match Info - Similar pages
11-49A-8
subject to the provisions of Section 11-49A-20) 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, receive, and take, by purchase, gift, lease, devise, or otherwise, and to hold property
of every description, real, personal, or mixed, whether located in one or more counties
or municipalities and whether located within or outside the authorizing municipality; (6)
To make, enter into, and execute such contracts, agreements, leases, and other instruments
and to take other actions as may be necessary or convenient to accomplish any purpose for
which the authority was organized or to exercise any power expressly granted hereunder; (7)
To plan, establish, develop, acquire, purchase, lease, construct, reconstruct,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-49A-8.htm - 6K - Match Info - Similar pages
11-58-5
Section 11-58-5 Powers of corporations generally. Each corporation formed under this chapter
shall have the following powers, together with all the powers incidental thereto or necessary
to the discharge thereof in corporate form: (1) To have succession by its corporate name for
the period specified in the certificate of incorporation (which may be in perpetuity) unless
sooner dissolved as provided in this chapter. (2) To sue and be sued and prosecute and defend
civil actions in any court having jurisdiction of the subject matter and of the parties. (3)
To have and use a corporate seal and to alter it at pleasure. (4) To acquire, whether by purchase,
exchange, lease, construction, or otherwise one or more medical clinics and any necessary
or desirable clinical facilities. a. Any municipal medical clinic shall be located either
within the corporate limits of the municipality or within 15 miles of the corporate limits,
but not within the corporate limits or police jurisdiction of any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-58-5.htm - 4K - Match Info - Similar pages
2-3A-35
Section 2-3A-35 Refunding bonds. Pursuant to the provisions of Amendment 618 and this article,
the authority may, at any time and from time to time, issue for the state refunding bonds
of the state for the purpose of refunding any or all of the bonds authorized by Amendment
618 then outstanding (including any refunding bonds that may have been previously issued),
whether such refunding shall occur before, at or after the maturity of the bonds to be refunded.
In the discretion of the authority, refunding bonds may be issued in exchange for such outstanding
bonds or they may be sold and the proceeds thereof applied to the purchase, redemption or
payment of such outstanding bonds. Refunding bonds to be issued in exchange for such outstanding
bonds shall not be issued in a principal amount greater than the principal amount of the bonds
to be refunded. Refunding bonds to be sold pursuant hereto may be issued in such principal
amount or amounts as shall be determined by said authority....
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2-3A-55
Section 2-3A-55 Refunding bonds. Pursuant to the provisions of Amendment 619 and this article,
the authority may, at any time and from time to time, issue for the state refunding bonds
of the state for the purpose of refunding any or all of the bonds authorized by the aforesaid
amendment then outstanding (including any refunding bonds that may have been previously issued),
whether such refunding shall occur before, at or after the maturity of the bonds to be refunded.
In the discretion of the authority, refunding bonds may be issued in exchange for such outstanding
bonds or they may be sold and the proceeds thereof applied to the purchase, redemption or
payment of such outstanding bonds. Refunding bonds to be issued in exchange for such outstanding
bonds shall not be issued in a principal amount greater than the principal amount of the bonds
to be refunded. Refunding bonds to be sold pursuant hereto may be issued in such principal
amount or amounts as shall be determined by said...
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26-1A-217
exclusion limit; and (2) consent, pursuant to Internal Revenue Code Section 2513, 26 U.S.C.
Section 2513, as amended, to the splitting of a gift made by the principal's spouse in an
amount per donee not to exceed the aggregate annual gift tax exclusions for both spouses.
(c) An agent may make a gift of the principal's property only as the agent determines is consistent
with the principal's objectives if actually known by the agent and, if unknown, as the agent
determines is consistent with the principal's best interest based on all relevant factors,
including: (1) the value and nature of the principal's property; (2) the principal's foreseeable
obligations and need for maintenance; (3) minimization of taxes, including income, estate,
inheritance, generation skipping transfer, and gift taxes; (4) eligibility for a benefit,
a program, or assistance under a statute or regulation; and (5) the principal's personal
history of making or joining in making gifts. (Act 2011-683, p. 2015, ยง1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/26-1A-217.htm - 2K - Match Info - Similar pages
37-11B-5
Section 37-11B-5 Actions in accordance with State Rail Plan or studies. (a)(1) Based on information
gathered in the State Rail Plan or any studies conducted pursuant to subdivision (5) of Section
37-11B-4, ADECA with the assistance of the commission for purposes of promoting passenger
or freight rail service, or both, may do all of the following: a. Select or recommend routes
and locations, perform preliminary engineering and surveying, acquire necessary rights-of-way
and property, perform site improvements, and otherwise plan, develop, construct, and own a
rail line, or portion thereof, that connects to the rail line of a railroad corporation. b.
Take any action described in subdivision (1) for the purpose of assisting a railroad corporation
or other entity in developing, constructing, improving, and owning a rail line, or portion
thereof, for any other purpose as approved by ADECA that promotes economic development associated
with rail infrastructure or passenger or freight rail...
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39-2-12
Section 39-2-12 Partial and final payments of contractors by awarding authorities. (a) As used
in this section the following words shall have the meanings ascribed to them as follows: (1)
CONTRACTOR. Any natural person, partnership, company, firm, corporation, association, limited
liability company, cooperative, or other legal entity licensed by the Alabama State Licensing
Board for General Contractors. (2) NONRESIDENT CONTRACTOR. A contractor which is neither a.
organized and existing under the laws of the State of Alabama, nor b. maintains its principal
place of business in the State of Alabama. A nonresident contractor which has maintained a
permanent branch office within the State of Alabama for at least five continuous years shall
not thereafter be deemed to be a nonresident contractor so long as the contractor continues
to maintain a branch office within Alabama. (3) RETAINAGE. That money belonging to the contractor
which has been retained by the awarding authority conditioned on...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/39-2-12.htm - 18K - Match Info - Similar pages
45-49-100.40
Section 45-49-100.40 Powers of board. The board of school commissioners shall be entitled to
receive, levy, assess, and collect all devises, revenues, and taxes to which they were by
law entitled at the date of the organization of the Board of Education of the State of Alabama,
and they shall have full power to continue in force, revise, modify, and improve, as to them
may see fit, the public school system now existing in the County of Mobile, and to make such
bylaws, rules, and regulations, not inconsistent with the laws of the state and of the United
States, for the government of the board and of the schools, as they may deem expedient or
necessary. They shall hold regular meetings of the board at such times as they may fix upon
and adjourned or special meetings when necessary. Three members of the board shall constitute
a quorum for the transaction of business, but no business involving a change in the system,
rules, and regulations or affecting the general interest of the county...
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