11-65-1
Section 11-65-1 Legislative declarations and findings. The Legislature hereby finds and declares
as follows: (1) As the basis for enacting Act No. 84-131, the Legislature found and determined
that the conduct within Class 1 municipalities in the state of horse racing events and pari-mutuel
wagering thereon will generate additional revenues for governmental and charitable purposes,
provide additional jobs for the residents of the state and benefit the businesses related
to tourism and recreation within any such municipality and throughout the surrounding areas
of the state; it is desirable to permit the qualified voters of any Class 1 municipality to
determine through referendum whether horse racing and pari-mutuel wagering thereon will be
permitted in such municipality; and for each Class 1 municipality in which horse racing is
approved by the voters thereof, it is necessary and desirable to provide for the establishment
of a racing commission to regulate horse racing and pari-mutuel...
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11-32-7
Section 11-32-7 Powers of authority. (a) The authority shall exercise powers and duties necessary
to the discharge of its powers and duties in corporate form as follows: (1) Have succession
by its corporate name in perpetuity subject to Section 11-32-20. (2) Sue and be sued in its
own name in civil suits and actions and defend suits against it. (3) Adopt and make use of
a corporate seal and alter the same at its pleasure. (4) Adopt and alter bylaws for the regulation
and conduct of its affairs and business. (5) Acquire, receive, take, by purchase, gift, lease,
devise, or otherwise, and 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 county. (6) Make, enter into, and execute contracts, agreements, leases, and other
instruments and take other actions as may be necessary or convenient to accomplish any purpose
for which the authority was organized, or exercise any...
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7-2-501
Section 7-2-501 Insurable interest in goods; manner of identification of goods. (1) The buyer
obtains a special property and an insurable interest in goods by identification of existing
goods as goods to which the contract refers even though the goods so identified are nonconforming
and he has an option to return or reject them. Such identification can be made at any time
and in any manner explicitly agreed to by the parties. In the absence of explicit agreement
"identification" occurs: (a) When the contract is made if it is for the sale of
goods already existing and identified; (b) If the contract is for the sale of future goods
other than those described in paragraph (c), when goods are shipped, marked or otherwise designated
by the seller as goods to which the contract refers; (c) When the crops are planted or otherwise
become growing crops or the young are conceived if the contract is for the sale of unborn
young to be born within 12 months after contracting or for the sale of...
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7-2A-218
Section 7-2A-218 Insurance and proceeds. (1) A lessee obtains an insurable interest when existing
goods are identified to the lease contract even though the goods identified are nonconforming
and the lessee has an option to reject them. (2) If a lessee has an insurable interest only
by reason of the lessor's identification of the goods, the lessor, until the lessor's default
or insolvency or notification to the lessee that identification is final, may substitute other
goods for those identified. (3) Notwithstanding a lessee's insurable interest under subsections
(1) and (2), the lessor retains an insurable interest until an option to buy has been exercised
by the lessee and risk of loss has passed to the lessee. For this purpose the option to buy
shall be deemed to have been exercised by the lessee when the resulting sale is closed, not
when the lessee gives notice to the lessor of the lessee's intention to exercise the option.
(4) Nothing in this section impairs any insurable interest...
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31-2A-108
Section 31-2A-108 (Article 108.) Military property - Loss, damage, destruction, or wrongful
disposition. Any person subject to this code who, without proper authority does any of the
following regarding any military property of the United States or of any state, shall be punished
as a court-martial may direct: (1) Sells or otherwise disposes of. (2) Willfully or through
neglect damages, destroys, or loses. (3) Willfully or through neglect suffers to be lost,
damaged, destroyed, sold, or wrongfully disposed of. (Act 2012-334, §1.)...
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27-31D-1
Section 27-31D-1 Premium discount or insurance rate reduction - Construction and certification.
(a) Commencing on May 14, 2009, insurance companies shall provide a premium discount or insurance
rate reduction in an amount and manner as established in subsection (j) and pursuant to Section
27-31D-3. In addition, insurance companies may also offer additional adjustments in deductible,
other credit rate differentials, or a combination thereof, collectively referred to as adjustments.
These adjustments shall be available under the terms specified in this section to any owner
who builds or locates a new insurable property, in the State of Alabama, to resist loss due
to hurricane or other catastrophic windstorm events. (b) To obtain the adjustment provided
in this section, an insurable property located in this state shall be certified as constructed
in accordance with either of the following: (1) The 2006 International Residential Code, as
amended, including all hurricane mitigation...
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27-31D-2
Section 27-31D-2 Premium discount or insurance rate reduction - Fortified existing homes. (a)
Commencing on May 14, 2009, insurance companies shall provide a premium discount or insurance
rate reduction in an amount and manner as established in subsection (g) and pursuant to Section
27-31D-3. In addition, insurance companies may also offer additional adjustments in deductible,
other credit rate differentials, or a combination thereof, collectively referred to as adjustments.
These adjustments shall be available under the terms specified in this section to any owner
who retrofits his or her insurable property located in the State of Alabama to resist loss
due to hurricane or other catastrophic windstorm events. (b) To obtain the adjustment provided
in this section, an insurable property shall be retrofitted to any of the following: (1) The
Fortified Home: Hurricane Standards (FHH), or the Fortified Home: Highwind and Hail Standards
(FHWH) requirements as may from time to time be adopted...
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40-18-6
Section 40-18-6 Gain or loss - Basis of property; adjusted basis. (a) Basis (unadjusted) of
property. The basis of property shall be the cost of the property with the following exceptions:
(1) INVENTORY VALUE. If the property should have been included in the last inventory, the
basis shall be the last inventory value thereof. (2) GIFT or TRANSFER IN TRUST. If the property
was acquired by gift or by a transfer in trust the basis shall be determined in accordance
with 26 U.S.C. § 1015. If property was acquired by gift or transfer in trust on or after
December 31, 1932 and prior to March 15, 1985, the basis shall be the fair and reasonable
market value of the property at the time of the acquisition. (3) PROPERTY TRANSMITTED AT DEATH.
If the property was acquired from a decedent, the taxpayer's basis in the property shall be
determined in accordance with 26 U.S.C. § 1014. (4) PROPERTY ACQUIRED UPON LIKE-KIND EXCHANGE.
If the property was acquired upon an exchange described in subsection...
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12-21-221
Section 12-21-221 Witness having pecuniary interest in case. There shall be no exclusion of
a witness in a criminal case because, on conviction of the defendant, he may be entitled to
a reward or to a restoration of property or to the whole or any part of the fine or penalty
inflicted. The witness may be examined touching such circumstances, but the examination goes
to his credibility and not to his competency as a witness. (Code 1886, §4474; Code 1896,
§5298; Code 1907, §7895; Code 1923, §5633; Code 1940, T. 15, §306.)...
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27-31E-3
Section 27-31E-3 Eligibility; use of grants; confidentiality. (a) To be eligible for a grant,
residential property owners applying for a grant must have an insurable property that has
been granted a homestead exemption and must be able to meet the eligibility requirements as
set forth by the department for each grant type. (b) Grants to residential property owners
must be used to retrofit an insurable property as defined in Section 27-31D-3, to resist loss
due to hurricane, tornado, or other catastrophic windstorm events as prescribed in subsection
(b) of Section 27-31D-2. (c) Documents, materials, and other information submitted to the
department by property owners or insurance companies in support of a grant application shall
be subject to the confidentiality provisions of subsection (g) of Section 27-2-24, provided
that the amount of any grant awarded and the name of the recipient of the grant awarded shall
be available for public disclosure. (Act 2011-643, p. 1638, §3; Act...
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