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27-17A-51
Section 27-17A-51 Propriety of expenditures; income payments to cemetery authority.
The trustee shall not be required to inquire into the propriety of the expenditures made by
the cemetery authority in connection with endowment care of the cemetery, and it shall not
be held responsible in any manner whatsoever for and on account of payments of the income
from the endowment care fund made to the cemetery authority. (Act 2002-74, p. 221, §1.)...
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27-17A-49
Section 27-17A-49 Endowment care fund deposits; qualification as endowment care cemetery.
(a) From the sale price of each plot, crypt, or niche sold by the cemetery authority, of an
endowment care cemetery, it shall pay an amount, not less than as determined in accordance
with the following schedule, to the trustee of the endowment care fund, which payment shall
be paid over to the trustee not more than four months after the close of the month in which
the total or final payment on the sale has been received: (1) Fifteen percent of the sale
price of each grave or lawn crypt space. (2) Five percent of the sale price of each mausoleum
crypt or niche. (3) The amount received for special care funds, gifts, grants, contribution
devises, or bequests made with respect to the separate or special care of a particular lot,
grave, crypt, niche, mausoleum, monument, or marker or that of a particular family, as distinguished
from the general endowed care of a cemetery or of a garden. (b) In...
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27-17A-47
Section 27-17A-47 Establishment and management of endowment care fund. (a) Every cemetery
authority operating an endowment care cemetery shall establish an endowment care fund which
shall be placed with and held by a bank, trust company, savings and loan association, or other
financial institution authorized to provide trust services under Title 5, as amended, or under
the applicable laws of the United States or any other state, or a board of trustees, consisting
of at least three members, who shall reside in the State of Alabama, one of whom is engaged
in outside cemetery management, and each of whom shall be bonded to honestly perform the duties
of trustee under a formal trust agreement. (b) Except as specifically provided in this subsection,
commencing on July 1, 2014, a person serving on a board of trustees or cemetery authority
may not also serve as a trustee of an endowment care fund for the cemetery authority. A board
of trustees in existence on July 1, 2014, may continue to...
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27-17A-50
Section 27-17A-50 Financial interest in asset or business in which endowment care trust
invests, etc.; disposition of funds. (a) No cemetery authority may directly or indirectly
require or direct the investment, reinvestment, or retention by a qualified trustee of any
part of an endowment care trust in any asset or business in which the cemetery authority or
any officer, director, owner, partner, or employee of the cemetery authority has a financial
interest. Nothing contained in this subsection shall prevent the trustee, subject to the provisions
regarding investment and reinvestment of the trust estate as are contained in the governing
instrument creating the trust, from investing, reinvesting, or retaining any asset or business
in which the cemetery authority or any officer, director, owner, partner, or employee of the
cemetery authority has an insubstantial or nonmaterial financial interest, provided that the
trustee, in the exercise of the trustee's discretion, deems the...
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27-17A-2
Section 27-17A-2 Definitions. As used in this chapter, the following terms shall have
the following meanings: (1) ALTERNATIVE CONTAINER. A nonmetal receptacle or enclosure, without
ornamentation or a fixed interior lining, which is designed for the encasement of human remains
and which is made of cardboard, pressed-wood, composition materials (with or without an outside
covering), or pouches of canvas or other materials. (2) ARRANGEMENT CONFERENCE. The meeting
occurring either at need or preneed between the seller and the purchaser during which funeral
or cemetery merchandise and services are discussed. (3) ARRANGEMENT CONFERENCE FEE. The charge
to the purchaser in conjunction with the arrangement conference. (4) AT NEED. At the time
of death, or immediately following death. (5) AUTHORIZING AGENT. One who is lawfully authorized
to control the final disposition of human remains. (6) BELOW-GROUND CRYPT. A preplaced enclosed
chamber, which is usually constructed of reinforced concrete,...
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27-60-2
Section 27-60-2 Interstate Insurance Product Regulation Compact. The State of Alabama
hereby agrees to the following interstate compact known as the Interstate Insurance Product
Regulation Compact: ARTICLE I. PURPOSES. The purposes of this compact are, through means of
joint and cooperative action among the compacting states: 1. To promote and protect the interest
of consumers of individual and group annuity, life insurance, disability income, and long-term
care insurance products; 2. To develop uniform standards for insurance products covered under
the compact; 3. To establish a central clearinghouse to receive and provide prompt review
of insurance products covered under the compact and, in certain cases, advertisements related
thereto, submitted by insurers authorized to do business in one or more compacting states;
4. To give appropriate regulatory approval to those product filings and advertisements satisfying
the applicable uniform standard; 5. To improve coordination of...
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40-18-15
Section 40-18-15 Deductions for individuals generally. (a) No deduction shall be allowed
for any losses, expenses, or interest deferred or disallowed pursuant to 26 U.S.C. § 267
or for any cost required to be capitalized in accordance with 26 U.S.C. § 263A; otherwise,
there shall be allowed as deductions: (1) All ordinary and necessary expenses paid or incurred
during the taxable year in carrying on any trade or business, as determined in accordance
with 26 U.S.C. § 162. (2) Interest paid or accrued within the taxable year on indebtedness,
limited to the amount allowable as an interest deduction for federal income tax purposes in
the corresponding tax year or period pursuant to the provisions of 26 U.S.C. §§ 163, 264,
and 265. (3) The following taxes paid or accrued within the taxable year: a. Income taxes,
Federal Insurance Contribution Act taxes, taxes on self-employment income and estate and gift
taxes imposed by authority of the United States or any possession of the United...
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36-25-1
Section 36-25-1 Definitions. Whenever used in this chapter, the following words and
terms shall have the following meanings: (1) BUSINESS. Any corporation, partnership, proprietorship,
firm, enterprise, franchise, association, organization, self-employed individual, or any other
legal entity. (2) BUSINESS WITH WHICH THE PERSON IS ASSOCIATED. Any business of which the
person or a member of his or her family is an officer, owner, partner, board of director member,
employee, or holder of more than five percent of the fair market value of the business. (3)
CANDIDATE. This term as used in this chapter shall have the same meaning ascribed to it in
Section 17-5-2. (4) COMMISSION. The State Ethics Commission. (5) COMPLAINT. Written
allegation or allegations that a violation of this chapter has occurred. (6) COMPLAINANT.
A person who alleges a violation or violations of this chapter by filing a complaint against
a respondent. (7) CONFIDENTIAL INFORMATION. A complaint filed pursuant to this...
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27-61-1
Section 27-61-1 Surplus Lines Insurance Multi-State Compliance Compact. The Surplus
Lines Insurance Multi-State Compliance Compact Act is enacted into law and entered into with
all jurisdictions mutually adopting the compact in the form substantially as follows: PREAMBLE
WHEREAS, with regard to Non-Admitted Insurance policies with risk exposures located in multiple
states, the 111th United States Congress has stipulated in Title V, Subtitle B, the Non-Admitted
and Reinsurance Reform Act of 2010, of the Dodd-Frank Wall Street Reform and Consumer Protection
Act, hereafter, the NRRA, that: (A) The placement of Non-Admitted Insurance shall be subject
to the statutory and regulatory requirements solely of the insured's Home State, and (B) Any
law, regulation, provision, or action of any State that applies or purports to apply to Non-Admitted
Insurance sold to, solicited by, or negotiated with an insured whose Home State is another
State shall be preempted with respect to such application;...
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41-18-1
Section 41-18-1 Text. Article I. Findings and Purposes. (a) The party states find that
the South has a sense of community based on common social, cultural and economic needs and
fostered by a regional tradition. There are vast potentialities for mutual improvement of
each state in the region by cooperative planning for the development, conservation and efficient
utilization of human and natural resources in a geographic area large enough to afford a high
degree of flexibility in identifying and taking maximum advantage of opportunities for healthy
and beneficial growth. The independence of each state and the special needs of subregions
are recognized and are to be safeguarded. Accordingly, the cooperation resulting from this
agreement is intended to assist the states in meeting their own problems by enhancing their
abilities to recognize and analyze regional opportunities and take account of regional influences
in planning and implementing their public policies. (b) The purposes of...
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