10A-20-7.04
Section 10A-20-7.04 Powers of corporation. In furtherance of its purposes and in addition to the powers now or hereafter conferred on business corporations by Alabama statutes, the corporation shall, subject to the restrictions and limitations contained in this section, have the following powers: (1) To elect, appoint, and employ officers, agents, and employees to make contracts and incur liabilities for any of the purposes of the corporation; provided, that the corporation shall not incur any secondary liability by way of guaranty or endorsement of the obligations of any person, firm, corporation, joint stock company, association, or trust or in any other manner. (2) To borrow money from its members and the small business administration and any other similar federal agency for any of the purposes of the corporation, to issue therefor its bonds, debentures, notes, or other evidences of indebtedness, whether secured or unsecured, and to secure the same by mortgage, pledge, deed of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-20-7.04.htm - 4K - Match Info - Similar pages
19-4-1
Section 19-4-1 Definitions. When used in this article, the following words and phrases shall have the following meanings, respectively, unless the context clearly indicates otherwise: (1) FIDUCIARY. An administrator, an administrator with the will annexed, an administrator de bonis non, an executor, a trustee, a guardian, a conservator, an agent, a custodian or a custodian or agent for another fiduciary or fiduciaries. (2) FIDUCIARY ACCOUNT. An estate, a trust, a guardianship, a custodianship, an agency or any other fiduciary relationship, including a custodianship or agency for another fiduciary or fiduciaries. (3) BANK. A bank or trust company organized and existing under the laws of Alabama with authority to act as a fiduciary and a national banking association with its principal office in the State of Alabama and with authority to act as a fiduciary. (4) SECURITY. Any note; stock; treasury stock; bond; debenture; evidence of indebtedness; certificate of interest or participation in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-4-1.htm - 3K - Match Info - Similar pages
27-2B-2
Section 27-2B-2 Definitions. As used in this chapter, these terms shall have the following meanings: (1) ADJUSTED RBC REPORT. An RBC report which has been adjusted by the commissioner in accordance with subsection (e) of Section 27-2B-3. (2) CORRECTIVE ORDER. An order issued by the commissioner specifying corrective actions which the commissioner has determined are required. (3) DOMESTIC INSURER. Any insurer domiciled in this state. (4) FOREIGN INSURER. Any insurer which is licensed to do business in this state but not domiciled in this state. (5) FRATERNAL BENEFIT SOCIETY. Any insurer licensed under Chapter 34. (6) HEALTH ORGANIZATION. Any health care service plan, health maintenance organization, limited health service organization, dental services corporation, or other managed care organization licensed under this title. This term does not include any life and disability insurer or property and casualty insurer. (7) INSURER. As defined in Section 27-1-2, including, without...
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27-44-3
Section 27-44-3 Scope of chapter. (a) This chapter shall provide coverage for the policies and contracts specified in subsection (b) as follows: (1) To persons who, regardless of where they reside (except for non-resident certificate holders under group policies or contracts), are the beneficiaries, assignees, or payees of the persons covered under subdivision (2). (2) To persons who are owners of or certificate holders under the policies or contracts, other than structured settlement annuities, and in each case who are either of the following: a. Residents b. Not residents, but only under all of the following conditions: 1. The insurer that issued the policies or contracts is domiciled in this state. 2. The states in which the persons reside have associations similar to the association created by this chapter. 3. The persons are not eligible for coverage by an association in any other state due to the fact the insurer was not licensed in the state at the time specified in the state's...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-44-3.htm - 12K - Match Info - Similar pages
27-7-7
Section 27-7-7 Licenses - Application - Generally; fees. Repealed by Act 2001-702, p. 1509, ยง 6, effective January 1, 2002. (a) The commissioner shall not issue any license except upon application therefor as in this chapter provided. Each applicant for a license shall file annually with the commissioner his written application therefor signed by him and showing: (1) His name, age and place of residence; (2) The kinds of insurance to be transacted under the license and the insurer or insurers he proposes so to represent; (3) The person, firm or corporation by whom he expects to be employed or associated with as such licensee and his status as an officer or representative thereof; (4) Whether he proposes to write or solicit insurance of his own risks and interest, or those of his relatives, any firm or corporation in which he is financially interested or connected, directly or indirectly, or of his employer; (5) A short business history of the applicant and the name and nature of any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-7-7.htm - 4K - Match Info - Similar pages
35-8A-103
Section 35-8A-103 Definitions. In the declaration and bylaws, unless specifically provided otherwise or the context otherwise requires, and in this chapter, the following terms are defined as set forth below: (1) AFFILIATE OF A DECLARANT. Any person who controls, is controlled by, or is under common control with a declarant. A person "controls" a declarant if the person (i) is a general partner, officer, director, or employer of the declarant, (ii) directly or indirectly or acting in concert with one or more other persons, or through one or more subsidiaries, owns, controls, holds with power to vote, or holds proxies representing more than 20 percent of the voting interest in the declarant, (iii) controls in any manner the election of a majority of the directors of the declarant, or (iv) has contributed more than 20 percent of the capital of the declarant. A person "is controlled by" a declarant if the declarant (i) is a general partner, officer, director, or employer of the person,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-8A-103.htm - 8K - Match Info - Similar pages
9-17-101
Section 9-17-101 Liquefied Petroleum Gas Board - Creation; composition; meetings; rules and regulations. (a) There is created and established the Alabama Liquefied Petroleum Gas Board. The board shall be composed of eight members: The State Fire Marshal; the state Director of Public Safety; the President of the Alabama Public Service Commission; four members who are representatives of the liquefied petroleum gas retail Class A permit holders; and one member of the general public who shall be appointed by the Governor. The membership of the board shall be inclusive and reflect the racial, gender, geographic, urban/rural, and economic diversity of the state. (b) Members of the board who are representatives of the liquefied petroleum gas retail permit holders shall have been legal residents of the State of Alabama for at least five years next preceding the date of appointment and shall have been actively engaged in the retail distribution of liquefied petroleum gas in this state for a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/9-17-101.htm - 4K - Match Info - Similar pages
10A-17-1.16
Section 10A-17-1.16 Other acts not repealed. The following sections and parts of sections of the Code of Alabama 1975, as amended, are not repealed by this chapter: (1) Sections 2-10-1 through 2-10-108, regarding cooperatives and associations. (2) Section 6-3-4, regarding venue of actions against unincorporated groups issuing insurance policies. (3) Section 6-3-6, regarding venue of actions against unincorporated organizations or associations. (4) Section 6-5-336, regarding immunity of volunteers of nonprofit organizations if actions are in good faith and in the scope of official functions and duties, and do not represent willful or wanton misconduct. (5) Section 6-6-220, defining "Person" as including any person, partnership, joint stock company, unincorporated association, or society, or municipal or other corporation. (6) Section 6-7-80, regarding right to commence actions in name of unincorporated organization or association. (7) Section 6-7-81, regarding commencement of actions...
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11-61A-2
Section 11-61A-2 Definitions. Unless the context plainly indicates otherwise, the following words and terms have the meanings ascribed to them: (1) AUTHORITY. A public corporation organized under this chapter. (2) BOARD. The board of directors of an authority organized under this chapter. (3) BOND. Any bond authorized to be issued under this chapter. (4) COUPON. Any interest coupon evidencing an installment of interest payable with respect to a bond. (5) DIRECTOR. A member of a board. (6) GOVERNING BODY. The body in which the general legislative powers of the municipality are vested. (7) INDENTURE. A mortgage, an indenture of mortgage, deed of trust, trust agreement, or trust indenture executed by an authority as security for its bonds. (8) MUNICIPALITY. A Class 2 municipality subject to this chapter. (9) PARKING FACILITY. Any building, structure, land, right-of-way, equipment, or instrumentality used or useful in either of the following ways: a. In connection with the construction,...
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11-62-1
Section 11-62-1 Definitions. (a) The following words and phrases used in this chapter, and others evidently intended as the equivalent thereof, shall, in the absence of clear implication herein otherwise, be given the following respective interpretations herein: (1) AUTHORITY. Any public corporation organized pursuant to this chapter. (2) AUTHORIZED PURPOSE OBLIGATION. The term includes either of the following: a. Any lease, note, installment sale contract, or any other obligation of a user, whether general or special, which was entered into, made, assumed, or otherwise incurred by the user, in whole or in part, for the purpose of financing the acquisition or ownership of one or more facilities, for the purpose of obtaining funds with which to operate one or more facilities or for any combination of those purposes. b. Any obligation of any kind which was entered into, made, assumed, or otherwise incurred by the United States of America or any department, agency, or instrumentality...
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