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19-3-120.2
Section 19-3-120.2 Standards for fiduciary investment and management. (a) When investing, reinvesting,
purchasing, acquiring, exchanging, selling and managing property for the benefit of another,
a trustee, executor, administrator, guardian, conservator or other fiduciary, other than a
trustee governed by Chapter 3B, shall act with the care, skill, prudence, and diligence under
the circumstances then prevailing that a prudent person acting in a like capacity and familiar
with such matters would use to attain the purposes of the account. In making investment decisions,
a fiduciary shall consider the role that the investment plays within the account's overall
portfolio of assets and may consider the general economic conditions, the anticipated tax
consequences of the investment, the anticipated duration of the account and the needs of the
beneficiaries of the account. (b) The propriety of an investment decision is to be determined
by what a fiduciary knew or should have known at the time...
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19-3D-4
Section 19-3D-4 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION,
EFFECTIVE JANUARY 1, 2019. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. FIDUCIARY DUTY. (a)
In exercising the decanting power, an authorized fiduciary shall act in accordance with its
fiduciary duties, including the duty to act in accordance with the purposes of the first trust.
(b) This chapter does not create or imply a duty to consider or exercise the decanting power
or to inform beneficiaries about the applicability of this chapter. (c) Except as otherwise
provided in a first-trust instrument, for purposes of this chapter and Sections 19-3B-801
and 19-3B-802(a), the terms of the first trust are deemed to include the decanting power.
(Act 2018-519, ยง4.)...
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10A-5-8.01
Section 10A-5-8.01 Special rules for limited liability companies performing professional services.
REPEALED IN THE 2014 REGULAR SESSION BY ACT 2014-144 EFFECTIVE JANUARY 1, 2017. (a) A limited
liability company shall have the power to render professional services if each member or employee
who renders professional services in Alabama is licensed or registered to render those professional
services pursuant to applicable Alabama law and if the limited liability company complies
with the limitations of this section. (b) Every individual who renders professional services
as a member or as an employee of a limited liability company shall be liable for any negligent
or wrongful act or omission in which the individual personally participates to the same extent
the individual would be liable if the individual rendered the services as a sole practitioner.
(c) The personal liability of a member, manager, or other employee of any limited liability
company engaged in providing professional...
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19-3B-1204
Section 19-3B-1204 Application to existing relationships. (a) Except as otherwise provided
in this chapter, on January 1, 2007: (1) this chapter applies to all trusts created before,
on, or after January 1, 2007; (2) this chapter applies to all judicial proceedings concerning
trusts commenced on or after January 1, 2007; (3) this chapter applies to judicial proceedings
concerning trusts commenced before January 1, 2007, unless the court finds that application
of a particular provision of this chapter would substantially interfere with the effective
conduct of the judicial proceedings or prejudice the rights of the parties, in which case
the particular provision of this chapter does not apply and the superseded law applies; (4)
any rule of construction or presumption provided in this chapter applies to trust instruments
executed before January 1, 2007, unless there is a clear indication of a contrary intent in
the terms of the trust; and (5) an act done before January 1, 2007, is not...
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36-36-9
Section 36-36-9 Applicability of chapter. Nothing in this chapter shall be construed to define
or otherwise grant any right or privilege to health care benefits or other post-employment
benefits to any person other than those health care benefits or other post-employment benefits,
rights, and privileges previously or already granted to employees and retired employees and
their dependents by the state's health care benefit plan or its post-employment benefit plan,
if any. Such rights and privileges, if any, shall be governed by the terms of the state's
post-employment benefit plan, if any. This chapter is not intended to assure or deny any existing
or future employee, retired employee, any of their dependents, or any other person of any
right of employment or entitlement to any health care benefit or other post-employment benefit
or limit or otherwise restrict the ability of the state to modify or eliminate any existing
or future health care benefit or other post-employment benefit....
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41-14A-3
Section 41-14A-3 Public deposits to be secured; exemptions. (a) On and after January 1, 2001:
(1) All public deposits of all covered public entities and covered public officials shall
be governed by this chapter and shall be secured as provided in this chapter. (2) All public
depositors shall, notwithstanding any other laws to the contrary, place their public deposits
with one or more qualified public depositories in accordance with this chapter. Notwithstanding
the foregoing, funds placed in interest-bearing deposits through a qualified public depository
pursuant to subsection (c) shall be exempt from the other requirements of this chapter. (3)
All financial institutions shall file the reports required by this chapter or by rule, regulation,
or order of the board of directors and all financial institutions accepting any public deposits
shall be a qualified public depository and shall comply with all provisions of this chapter,
including, without limitation, the collateral pledging...
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19-1A-2
Section 19-1A-2 (Effective January 1, 2018) Definitions. In this chapter, the following terms
have the following meanings: (1) "Account" means an arrangement under a terms-of-service
agreement in which a custodian carries, maintains, processes, receives, or stores a digital
asset of the user or provides goods or services to the user. (2) "Agent" means a
person granted authority to act for a principal under a power of attorney, whether denoted
an agent, attorney-in-fact, or otherwise. The term includes an original agent, co-agent, successor
agent, and person to which an agent's authority is delegated. (3) "Carries" means
engages in the transmission of an electronic communication. (4) "Catalogue of electronic
communications" means information that identifies each person with which a user has had
an electronic communication, the time and date of the communication, and the electronic address
of the person. (5) "Conservator" means a person appointed by a court to manage the
estate of a...
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37-2A-11
Section 37-2A-11 Interpretation. (a) This chapter is intended to supersede the remainder of
this title as to any matter provided for in this chapter. (b) Nothing in this chapter shall
do any of the following: (1) Alter the jurisdiction, rights, powers, authority, or duties
of the commission except as specifically provided for in this chapter. (2) Be interpreted
to expand the commission's jurisdiction, right, power, authority, or duty as it is provided
for in any other chapter of this title. (3) Alter any provider's obligations under state E-911
laws. (4) Alter, amend, or modify taxes imposed by Title 40, or any other title of this code,
unless specifically provided for in this chapter. (5) Alter, amend, or modify, other than
as provided in subdivision (1) of subsection (b) of Section 37-2A-4, the commission's authority
with regard to wholesale transactions between incumbent local exchange carriers and other
telecommunications carriers for the transmission and routing of telephone...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-2A-11.htm - 2K - Match Info - Similar pages
11-91A-6
Section 11-91A-6 Property rights and contractual obligations of board; costs of software and
property; assignment of contracts. (a) Except as otherwise provided in this chapter, the SEIB
shall provide for the administration of the program as provided in Chapter 29 of Title 36,
until the transfer of the governance and administration of the program takes place as provided
herein. Effective at 12:01 a.m. on January 1, 2015, all property rights and contractual obligations
of the SEIB related to the administration and governance of the program shall be transferred
to the board. The SEIB and its employees shall fully cooperate with the board in the transfer
of the governance and administration of the program both prior to and after January 1, 2015,
including, but not limited to, providing the board with all the software necessary to properly
administer the program beginning on January 1, 2015. Additionally, in order to affect an orderly
transfer, the administrator of the SEIB shall serve as...
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15-13-159
Section 15-13-159 Qualifications - Professional surety company. No professional surety company
shall execute or become surety on any appearance bond in this state, unless it has an order
granting authorization to become professional surety on any bail. The order granting the authorization
shall be reissued annually, prior to January 1 of each year, by the presiding circuit judge
of the county in which the company desires to execute bail or appearance bonds. Prior to the
judge's issuance of the original order and no later than December 1 of each year, thereafter,
professional surety companies shall submit annually to the presiding circuit judge the following:
(1) An original or certified copy of a certificate of authority or certificate of compliance
from the Department of Insurance reflecting that the company is qualified to write a bail
line of insurance and that the company is in good standing with the department. (2) An original
qualifying power of attorney issued by the...
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