11-54-132
Section 11-54-132 Trust agreement. Each trust agreement shall obligate each trustee bank that
is a party to the agreement to accept custody of contributions to the endowment trust fund
created under the trust agreement, and the agreement shall obligate each trustee bank to administer
the fund in accordance with the terms and provisions thereof and, if the trustee bank is also
a fund manager with respect to the fund, to manage and invest the fund in accordance with
such terms and provisions. Subject to the terms and provisions of any trust agreement, and
subject to this division, each trustee bank may hold, purchase, sell, assign, transfer, and
dispose of any investments held in any endowment trust fund, and it shall do so in accordance
with any directions given to it by a fund manager for the fund, provided that the directions
are themselves not inconsistent with this division or of any trust agreement. (Act 2000-730,
p. 1569, §8.)...
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27-17A-42
Section 27-17A-42 Trust contributions; trustee responsibilities; withdrawals; analysis and
certification by seller. (a) The obligation of the seller under a preneed contract shall be
to make contributions into the Cemetery Merchandise and Services Trust Fund in accordance
with the following formulae: (1) With respect to all cemetery merchandise, 110 percent of
wholesale cost. (2) With respect to outer burial containers, 60 percent of the purchase price
specified in the preneed contract. (3) With respect to cemetery services, 60 percent of the
purchase price specified in the preneed contract. (4) With respect to all cash advance items
sold, 100 percent of the purchase price specified for the same in the preneed contract. (5)
With respect to caskets, 75 percent of the purchase price. (b) All contributions shall be
made within 30 days after the end of the calendar month in which the preneed contract is paid
in full, unless, prior to that time, all liabilities of the seller under the...
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27-17A-53
Section 27-17A-53 Disposal of assets or investments. To the extent that any endowment care
trust existing on May 1, 2002, includes investments or assets, the retention of which the
trustee in the free exercise of its discretion deems not in the best interest of the trust
estate, the trustee shall dispose of the investments or assets as soon as practicable without
undue sacrifice to the trust estate, and in any event within two years after May 1, 2002.
(Act 2002-74, p. 221, §1.)...
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11-54-129
Section 11-54-129 Use of assets. (a) Subject to succeeding provisions hereof with respect to
the investment of moneys held in and forming a part of an endowment trust fund, and the management,
use, and disposition of other properties, whether real or personal, tangible or intangible,
contributed to such fund, all moneys held in and forming a part of an endowment trust fund,
whether such moneys may be characterized as either principal or income of such fund, may be
expended, and all other properties contributed to a trust fund may be used only to induce
new business, manufacturing, industrial, commercial, service, and research enterprises, whether
or not any such enterprise, or any property to be utilized in connection therewith, would
constitute a "project" within the meaning of either industrial development board
act, to locate within the statutory service area of the board that created such fund, and
to foster activities and policies conducive to the continuing prosperity of such...
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11-54-130
Section 11-54-130 Investment committee. (a) There shall be, with respect to an endowment trust
fund, one investment committee consisting of the following: (1) Not less than two members
of the directors, each of whom shall serve ex officio during his or her term of office as
a member of the directors, and each of whom shall be elected by the directors. (2) Not more
than five additional persons, each of whom shall serve as a member of such investment committee
for such term of office as shall be prescribed in the authorizing resolution, and shall be
elected by the directors, either (i) from nominations made by any trade organization under
contract to the board with respect to such fund, or (ii) if no such contract exists, from
the membership of one or more trade organizations, or (iii) if no such trade organization
exists, as the board deems advisable. (b) The investment committee shall elect, from among
its members, such officers as it shall deem necessary or desirable, and the...
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11-54-128
Section 11-54-128 Authorizing resolution. (a) In order to provide for the establishment of
an endowment trust fund, the directors shall adopt an authorizing resolution authorizing the
execution and delivery, on behalf of the industrial development board, of a trust agreement
under which such fund shall be established and maintained. The directors may, in either the
authorizing resolution or the trust agreement authorized thereby, or, at the discretion of
the directors, in both, all as the directors shall deem appropriate, set out all of the following:
(1) The general purpose or purposes of such fund, and, subject to the provisions of Section
11-54-129, the purpose or purposes for which moneys held in and forming a part of such fund
may be expended and the manner in which all other properties, whether real or personal, tangible
or intangible contributed to such fund may be managed, used and disposed of. (2) A procedure
or procedures for the distribution or expenditure of such moneys and...
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11-54-133
Section 11-54-133 Termination or dissolution of fund. Upon the termination or dissolution of
an endowment trust fund, all properties held in and forming a part of such fund, whether real
or personal, tangible or intangible, and whether characterized as principal or income of such
fund, shall continue to be or shall become, as the case may be, the property of the industrial
development board that created or established the fund; provided, that the board may, subject
to any applicable conditions set out in either the authorizing resolution or the trust agreement
pertaining to the fund, from time to time pay over, distribute, or convey, with or without
consideration, to the municipality whose governing body authorized the incorporation of the
board, all or any of the properties or any portion or portions thereof. After the termination
or dissolution of the fund, all such properties may be expended or used, whether by the board
or the municipality, for one or more of the purposes specified...
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22-32-5
Section 22-32-5 Radiation Safety Fund; licensing and inspection fees; bond of contractor-leasor;
perpetual care fund; operating fund; compact commission fund; royalty fees; appropriation.
(a) There is hereby created a Radiation Safety Fund into which the State Treasurer shall deposit
the licensing, application, and inspection fee of the Radiation Control Agency. The Radiation
Control Agency is authorized to collect for deposit into the Radiation Safety Fund application,
licensing and inspection fees equal to 75 percent of those fees charged by the U.S. Nuclear
Regulatory Commission for issuing similar licenses. This authority applies only to the specific
licenses issued by the Radiation Control Agency. The funds available in the Radiation Safety
Fund are appropriated to the State Health Department for the purpose of Title 22, Chapter
14. The moneys in this fund may be carried over from one fiscal year to the next provided
that any unencumbered funds in excess of $100,000.00 on...
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2-9-4
Section 2-9-4 Authority of commissioner over fund. The Commissioner of Agriculture and Industries,
with the approval of the State Board of Agriculture and Industries, shall use the Agricultural
Fund in accordance with the provisions of law for the support and expense of the regulatory,
control and administrative work of the Department of Agriculture and Industries and in such
manner as said board deems will best effect the purposes of all laws included in this title
which the Commissioner, Department or Board of Agriculture and Industries are authorized or
directed to administer or enforce. The Commissioner of Agriculture and Industries, with the
approval of the State Board of Agriculture and Industries, shall direct the expenditure of
said fund, it being the purpose of this section to vest the financial supervision and control
over the use of said fund for the work and activities assigned to the Department of Agriculture
and Industries in the manner provided by law. (Ag. Code 1927,...
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25-5-316
Section 25-5-316 Workers' Compensation Administrative Trust Fund; creation; management; trustee
and custodian; assessments; penalties. (a) There is established in the State Treasury a fund
entitled the Workers' Compensation Administrative Trust Fund, into which shall be deposited
certain assessments provided under Chapter 5 (commencing with Section 25-5-1) of Title 25
collected by the Department of Labor. The fund shall constitute a separate fund to be disbursed
by the state Comptroller on order of the Secretary of the Department of Labor. All expenses
incurred by the department under the Workers' Compensation Law, including the salaries of
all employees, travel cost, and any other cost of administration and enforcement as may become
necessary, either within or without the state, shall be paid from the separate fund in the
State Treasury upon warrants of the state Comptroller drawn upon the State Treasury from time
to time when vouchers therefor are approved by the secretary. The State...
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