45-37A-51.03
Section 45-37A-51.03 Board of managers. (a)(1) In order to assure representation of
all participants of this system, there shall be a board of managers of five members for the
administration, management, and control of the supplemental pension system, including administration,
management, control, acquisition, and disbursement of the fund. The board shall consist of
the president of the governing body of the city, who shall be chair of the board, and four
associate members, designated respectively as Member No. 1, Member No. 2, Member No. 3, and
Member No. 4. (2) Member No. 1 shall be appointed by the Jefferson County Personnel Board
and shall be a person who at the time of appointment has had five or more consecutive years
immediately preceding his or her appointment and has been an officer of, or the occupant of
an executive position in insurance, actuarial, investment, banking, or as a certified public
accountant and shall serve for a term of four years. Should the appointed Member...
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40-27-1
Section 40-27-1 Compact adopted; terms. The following Multistate Tax Compact is hereby
approved, adopted and enacted into law by the State of Alabama: Multistate Tax Compact Article
I. Purposes. The purposes of this compact are to: 1. Facilitate proper determination of state
and local tax liability of multistate taxpayers, including the equitable apportionment of
tax bases and settlement of apportionment disputes. 2. Promote uniformity or compatibility
in significant components of tax systems. 3. Facilitate taxpayer convenience and compliance
in the filing of tax returns and in other phases of tax administration. 4. Avoid duplicative
taxation. Article II. Definitions. As used in this compact: 1. "State" means a state
of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or any territory
or possession of the United States. 2. "Subdivision" means any governmental unit
or special district of a state. 3. "Taxpayer" means any corporation, partnership,
firm,...
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8-6-11
Section 8-6-11 Registration of securities - Exempt transactions. (a) Except as hereinafter
in this section expressly provided, Sections 8-6-3 through 8-6-9 shall not apply to
any of the following transactions: (1) Any isolated nonissuer transaction, whether effected
through a dealer or not; (2) Any nonissuer transaction in an outstanding security by a registered
dealer if: a. The issuer has a class of securities subject to registration under Section
12 of the Securities Exchange Act of 1934 and has been subject to the reporting requirements
of Sections 13 or 15(d) of the Securities Exchange Act of 1934 for not less than 180 days
before the transaction; or has filed and maintained with the commission for not less than
180 days before the transaction information, in such form as the commission, by rule, specifies,
substantially comparable to the information which the issuer would be required to file under
Section 12(b) or Section 12(g) of the Securities Exchange Act of 1934, or the...

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19-3B-816
Section 19-3B-816 Specific powers of trustee. (a) Without limiting the authority conferred
by Section 19-3B-815, a trustee may: (1) collect trust property and accept or reject
additions to the trust property from a settlor or any other person, including, but not being
limited to, the authority to receive, collect, hold, and retain common or preferred stock
or other interests in the trustee or any related party; (2) acquire or sell property, for
cash or on credit, at public or private sale; (3) exchange, partition, or otherwise change
the character of trust property; (4) deposit trust money in an account in a regulated financial-service
institution; (5) borrow money, with or without security, and mortgage or pledge trust property
for a period within or extending beyond the duration of the trust; (6) with respect to an
interest in a proprietorship, partnership, limited liability company, business trust, corporation,
or other form of business or enterprise, continue the business or other...
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19-3-125
Section 19-3-125 Life, endowment, or annuity contracts. In addition to any other investment
now permitted by law, a guardian or trustee may invest the funds of his ward or of the beneficiary
of the trust in life, endowment or annuity contracts of legal reserve life insurance companies
duly qualified and authorized to write such business in the State of Alabama; provided, however,
that the annual premium or premiums on such contracts purchased by such guardian or trustee
shall not exceed 25 percent of the income of the ward or the beneficiary for any calendar
year preceding the date of such purchase. The contract must contain the following options
after it has been in force for three years or less: a cash surrender value option, a paid-up
insurance or endowment option, and an extended insurance or endowment option. Such contract
may be issued on the life or lives of the ward or wards, or beneficiary or beneficiaries of
the trust or upon the life or lives of persons in whose life or...
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35-6-81
Section 35-6-81 Report of sale by guardian to court. Within three months after making
any such sale, such guardian shall report the same under oath to the court having jurisdiction
of his administration of the estate of such ward. If the whole of the share of such ward in
the proceeds of such sale shall have been paid when such report is made, such fact shall be
stated therein, and the guardian shall therein apply to the court for authority to make a
conveyance of the interest of said ward in the lands or realty so sold to the purchaser. Such
report shall set forth the name, residence, and age of such ward, and of the person in whose
custody he is, and the name and residence of the adult next of kin of said ward, resident
in the state and not interested in such sale; if there be more than one such next of kin of
the same degree, such report must set forth the names and residences of all of them resident
in this state. (Code 1907, §5254; Code 1923, §9358; Code 1940, T. 47, §220.)...
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10A-20-8.09
Section 10A-20-8.09 Averments as to loans from parent organization; judgment to provide
for repayment and lien for unsecured loans. The complaint in any action authorized by this
article shall state whether or not the local organization obtained from the parent organization
or any of its affiliated organizations a loan or grant of funds with which to defray, in whole
or in part, the cost of constructing or acquiring any of the buildings or real estate included
in the fraternal property sought to be withdrawn, and if the loan or grant was obtained within
20 years prior to filing the complaint, then it shall aver the amount thereof and the date
the loan or grant was obtained and whether, if it be a loan, it is secured by a lien instrument.
If the court grants the right to withdraw as requested in the complaint and further grants
a confirmation of title to property in the local organization, free of the trust clause, it
shall determine the amount of the unsecured loan or grant and that...
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27-41-29
Section 27-41-29 Particular investments - Bonds, etc., secured by mortgages or deeds
of trust on real property, etc., generally. An insurer may invest in: (1) Bonds, notes, or
other evidences of indebtedness which are secured by a first mortgage lien or deed of trust
upon unencumbered improved real property located in the United States or Canada, including
leasehold estates in such real estate having an unexpired term (inclusive of the term or terms
which may be provided by options of renewal) of not less than 10 years beyond the final maturity
of the loan. Unless guaranteed or insured by the Administrator of Veterans Affairs, the Secretary
of Housing and Urban Development, or by a mortgage guaranty insurance policy issued by an
insurance company licensed and authorized to do business by and in the State of Alabama, no
such mortgage loan or loans when made shall exceed 75 percent of the fair value of the real
estate or leasehold, except that loans made on single family dwellings shall...
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26-2A-139
Section 26-2A-139 Bond. (a) The court must require a conservator to furnish a bond payable
to the judge of probate conditioned upon faithful discharge of all duties of the trust according
to law, with sureties as it shall specify. Unless otherwise directed, the bond must be in
the amount of the aggregate capital value of the property of the estate in the conservator's
control, plus one year's estimated income, and minus the value of securities deposited under
arrangements requiring an order of the court for their removal and the value of any land which
the fiduciary, pursuant to Section 26-2A-152(d), lacks power to sell or convey without
court authorization. The court, in lieu of sureties on a bond, may accept other collateral
for the performance of the bond, including a pledge of securities or any other assets or a
mortgage of land. (b) The court may at any time reduce the bond of the conservator or require
the conservator to provide additional or larger bond as may seem to be proper...
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26-2A-78
Section 26-2A-78 Powers and duties of guardian of minor. (a) A guardian of a minor ward
has the powers and responsibilities of a parent regarding the ward's health, support, education,
or maintenance, but a guardian is not personally liable for the ward's expenses and is not
liable to third persons by reason of the relationship for acts of the ward. (b) In particular
and without qualifying the foregoing, a guardian shall: (1) Become or remain personally acquainted
with the ward and maintain sufficient contact with the ward to know of the ward's capacities,
limitations, needs, opportunities, and physical and mental health; (2) Take reasonable care
of the ward's personal effects and commence protective proceedings if necessary to protect
other property of the ward; (3) Apply any available money of the ward to the ward's current
needs for health, support, education, or maintenance; (4) Conserve any excess money of the
ward for the ward's future needs, but if a conservator has been...
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