35-5A-19
Section 35-5A-19 Renunciation, resignation, death or removal of custodian; designation of successor
custodian. (a) A person nominated under section 35-5A-4 or designated under section 35-5A-10
as custodian may decline to serve by delivering a valid disclaimer to the person who made
the nomination or to the transferor or the transferor's legal representative or by effecting
a valid disclaimer in the manner that interests in property may be disclaimed under the Alabama
Uniform Disclaimer of Property Interests Act. If the event giving rise to a transfer has not
occurred and no substitute custodian able, willing, and eligible to serve was nominated under
section 35-5A-4, the person who made the nomination may nominate a substitute custodian under
section 35-5A-4; otherwise the transferor or the transferor's legal representative shall designate
a substitute custodian at the time of the transfer, in either case from among the persons
eligible to serve as custodian for that kind of property...
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22-3A-6
Section 22-3A-6 Members; officers; terms; records; meetings; appointment of Governor's designee.
(a) The applicants named in the application and their respective successors in office shall
constitute the members of the authority. The State Health Officer shall be the president of
the authority, the Governor or his designee shall serve as vice-president of the authority,
the Director of Finance of the state shall serve as secretary of the authority, and the State
Treasurer shall be the treasurer of the authority. The State Treasurer shall act as custodian
of the funds of the authority and shall pay the principal of and the interest and premium
(if any) on the bonds of the authority out of the funds hereinafter provided for. The State
Treasurer shall act as paying agent with respect to any series of bonds issued under this
chapter. (b) The service of each of the Governor, the State Health Officer, the Director of
Finance and the State Treasurer as a member of the authority and as an...
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26-1A-205
Section 26-1A-205 Tangible personal property. Unless the power of attorney otherwise
provides, language in a power of attorney granting general authority with respect to tangible
personal property authorizes the agent to: (1) demand, buy, receive, accept as a gift
or as security for an extension of credit, or otherwise acquire or reject ownership or possession
of tangible personal property or an interest in tangible personal property;
(2) sell; exchange; convey with or without covenants, representations, or warranties; quitclaim;
release; surrender; create a security interest in; grant options concerning; lease; sublease;
or, otherwise dispose of tangible personal property or an interest in tangible personal
property; (3) grant a security interest in tangible personal property or an interest
in tangible personal property as security to borrow money or pay, renew, or extend
the time of payment of a debt of the principal or a debt guaranteed by the principal; (4)
release, assign,...
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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, §1.)...
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23-1-361
Section 23-1-361 Authority to accept and receive federal funds for state acquisition, construction,
etc., of airports and other navigational facilities; authority to act as agent of municipalities
for same purpose; terms and conditions for disbursement of federal funds. (a) The department
may accept, receive, and receipt for federal and other monies, for and on behalf of the state,
any municipality, county, or airport authority thereof, for the acquisition, construction,
expansion, improvement, maintenance, or operation of airports and other air navigation facilities,
whether the work is done by the state, or by municipalities, counties, or airport authorities,
or jointly, aided by grants of aid from the United States, upon the terms and conditions prescribed
by the United States and any rules or regulations made thereunder. (b) The department shall
act as the agent for each municipality, county, and airport authority for the purpose of applying
for, receiving, and disbursing federal...
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26-1A-206
Section 26-1A-206 Stocks and bonds. Unless the power of attorney otherwise provides, language
in a power of attorney granting general authority with respect to stocks and bonds authorizes
the agent to: (1) buy, sell, and exchange stocks and bonds; (2) establish, continue, modify,
or terminate an account with respect to stocks and bonds; (3) pledge stocks and bonds as security
to borrow, pay, renew, or extend the time of payment of a debt of the principal; (4) receive
certificates and other evidences of ownership with respect to stocks and bonds; and (5) exercise
voting rights with respect to stocks and bonds in person or by proxy, enter into voting trusts,
and consent to limitations on the right to vote. (Act 2011-683, p. 2015, §1.)...
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26-1A-209
Section 26-1A-209 Operation of entity or business. Subject to the terms of a document or an
agreement governing an entity or an entity ownership interest, and unless the power of attorney
otherwise provides, language in a power of attorney granting general authority with respect
to operation of an entity or business authorizes the agent to: (1) operate, buy, sell, enlarge,
reduce, or terminate an ownership interest; (2) perform a duty or discharge a liability and
exercise in person or by proxy a right, power, privilege, or option that the principal has,
may have, or claims to have; (3) enforce the terms of an ownership agreement; (4) initiate,
participate in, submit to alternative dispute resolution, settle, oppose, or propose or accept
a compromise with respect to litigation to which the principal is a party because of an ownership
interest; (5) exercise in person or by proxy, or enforce by litigation or otherwise, a right,
power, privilege, or option the principal has or claims to...
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26-1A-211
Section 26-1A-211 Estates, trusts, and other beneficial interests. (a) In this section, "estates,
trusts, and other beneficial interests" means a trust, probate estate, guardianship,
conservatorship, escrow, or custodianship or a fund from which the principal is, may become,
or claims to be, entitled to a share or payment. (b) Unless the power of attorney otherwise
provides, language in a power of attorney granting general authority with respect to estates,
trusts, and other beneficial interests authorizes the agent to: (1) accept, receive, receipt
for, sell, assign, pledge, or exchange a share in or payment from the fund; (2) demand or
obtain money or another thing of value to which the principal is, may become, or claims to
be, entitled by reason of the fund, by litigation or otherwise; (3) exercise for the benefit
of the principal a presently exercisable general power of appointment held by the principal;
(4) initiate, participate in, submit to alternative dispute resolution,...
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27-11-5
at the time of the pendency of an action involving the transacting of the business of insurance
or the act or occurrence complained of, shall be deemed to be an unauthorized insurer within
the meaning of this chapter, and service of process under such circumstances may be had as
provided in this section. (b) Service of summons when obtained upon any such insurer as provided
in subsection (a) of this section for the service of process shall be deemed sufficient service
of summons and process to give to the Circuit Court of Montgomery County, Alabama, jurisdiction
over the cause of action and over such insurer and shall warrant and authorize personal
judgment against such defendant, or defendants, in the event that the plaintiff prevails in
the action. There shall be paid to the Secretary of State for services under this section
fees as may be provided for service of process on nonresidents doing business or performing
work or service in this state. (Acts 1971, No. 407, p. 707, §224.)...
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41-10-492
Section 41-10-492 Authority as public corporation. The state Finance Director, the state Budget
Officer and one person appointed by the Governor, one person appointed by the Speaker of the
House and one person appointed by the Lieutenant Governor, may become a public corporation
with the power and authority provided in this article by proceeding according to the provisions
hereof. Those persons appointed by the Governor, Lieutenant Governor and Speaker of the House
shall serve at the pleasure of the official appointing them and until their replacements have
been appointed. The State Treasurer shall be treasurer of the authority, shall act as custodian
of the funds of the authority, and shall pay the principal of and interest on the bonds of
the authority out of the funds hereinafter provided for; provided, that the State Treasurer
may designate one or more banks either within or without the state as the paying agent with
respect to any series of bonds issued under this article. (Acts...
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