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40-13-6
Section 40-13-6 Distribution of tax proceeds. (a) In each fiscal year when the funds then on
deposit in the special fund or funds created for retirement of the bonds equal the amount
needed to pay all the principal and interest becoming payable on the bonds within the succeeding
12 months and the funds then on deposit in the reserve fund or funds created for the bonds
equal the maximum principal and interest becoming due on the bonds in any one year, the severance
tax proceeds remaining in the Alabama State Docks Bulk Handling Facility Trust Fund, shall
be distributed as provided herein; provided however, that if at the end of any fiscal year
of the state, beginning with the fiscal year ending September 30, 1987, the Director of the
Alabama State Docks Department shall have notified the Director of Finance in writing, at
least five days prior to the close of the fiscal year, that the revenues to be derived by
the Alabama State Docks Department from the operations of its coal handling...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-13-6.htm - 13K - Match Info - Similar pages
16-13-304
Section 16-13-304 Terms and conditions; sale; use of proceeds. (a)(1) Warrants issued pursuant
to this article may be in the denomination or denominations; shall have a maturity or maturities
not exceeding 30 years from their date; may bear interest from their date at the rate or rates
payable in the manner and at the times; may be payable at the place or places within or without
the State of Alabama; may be sold for such price and in the manner as provided in this article;
and may contain the terms not in conflict with the provisions of this article; all as the
board may provide in the proceedings pursuant to which the warrants are authorized to be issued.
(2)(i) The board may provide that the warrants shall bear interest at a rate or rates fixed
at the time of the issuance thereof. (ii) With the prior, specific approval of the State Superintendent,
given as provided in this article, the board may provide that the warrants shall bear interest
at rates which may be changed from time to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-13-304.htm - 5K - Match Info - Similar pages
26-16-32
Section 26-16-32 State income tax refund designation program - Disposition of contributions.
(a) Each year that the refund designation program established in Section 26-16-31(a), above,
is in effect, the Commissioner of the Department of Revenue shall transfer to the Children's
Trust Fund an amount equal to the total amount designated by individuals to be paid to the
fund under this article, less an amount, equal to not more than three percent of the total
of such funds then collected, for the additional cost incurred by the Department of Revenue
in collecting and handling such funds which shall be deposited the General Fund of the State
Treasury for the use of the Revenue Department. Such deposits shall be made not less than
quarterly commencing with the first day such funds are collected from the taxpayer. (b) Moneys
contained in the Children's Trust Fund are continuously appropriated to the Child Abuse and
Neglect Prevention Board for the purposes set out in Section 26-16-30(f) of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/26-16-32.htm - 1K - Match Info - Similar pages
27-27-16
Section 27-27-16 Domestic mutual insurers - Bond or deposit in lieu thereof. (a) Before soliciting
any applications for insurance required under Section 27-27-15, as qualification for the original
certificate of authority, the incorporators of the proposed mutual insurer shall file with
the commissioner a corporate surety bond in the penalty of $15,000.00 in favor of the State
of Alabama and for the use and benefit of the state and of applicant members and creditors
of the corporation. The bond shall be conditioned as follows: (1) Upon payment of any loss
suffered by applicants who have cancelled or lapsed existing insurance policies due to misrepresentation
by the incorporators or by persons soliciting such applications under authorization by the
corporation, to the effect that the making of such application for insurance and prepayment
of premiums in such proposed insurer provides insurance protection prior to issuance of a
certificate of authority to such insurer by the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-27-16.htm - 2K - Match Info - Similar pages
27-6-15
Section 27-6-15 Release of deposit - Generally. (a) All deposits in this state made under this
title shall be held on deposit as long as there is outstanding any liability of the insurer
with respect to which the deposit was made. (b) Any such deposit shall be released and returned:
(1) To the insurer upon extinguishment by reinsurance in an insurer authorized to transact
such insurance in this state, or otherwise, of all liability of the insurer for the security
of which the deposit is held; (2) To the insurer during solvency, to the extent such deposit
is in excess of the amount required; or (3) Upon proper order of a court of competent jurisdiction,
to the receiver, conservator, rehabilitator, or liquidator of the insurer or to any other
properly designated official, or officials, who succeed to the management and control of the
insurer's assets. (c) The Treasurer shall release any such deposit, or part thereof, upon
written authorization of the commissioner and of the insurer or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-6-15.htm - 2K - Match Info - Similar pages
45-27A-60
Section 45-27A-60 Town of Pollard Trust Account. (a)(1) There is hereby established a trust
account for the Town of Pollard, Alabama, for the exclusive benefit of the Town of Pollard
and its citizens. The name of the trust fund shall be the Town of Pollard Trust Account. (2)
In order to preserve for future generations the Town of Pollard Trust Account and to ensure
water service, garbage pickup, grass mowing, and general maintenance of public property, expenditures
from the income of the trust are authorized only for the following uses: a. Maintenance and
replacement of water system equipment and property. b. The payment of utility charges incurred
by the town. c. Purchase and maintenance of insurance for the water system, other town property,
and bonding fees required by law for the mayor, the town clerk, and any other person authorized
to sign checks for the Town of Pollard. d. Repair and replacement of town equipment. e. Employment
of two permanent employees to perform garbage...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-27A-60.htm - 7K - Match Info - Similar pages
11-54-127
Section 11-54-127 Additional powers of boards. (a) In addition to all other powers conferred
on it by law, and subject to any express provisions of its certificate of incorporation to
the contrary, any industrial development board shall have all of the following powers, together
with all powers incidental thereto or necessary to the discharge thereof in corporate form:
(1) To create or establish one or more endowment trust funds. (2) To receive and accept from
any private source, for the account of any endowment trust fund so created or established
by it, contributions in the form of gifts of money, stocks, bonds, and other debt securities,
other personal property, whether tangible or intangible, and real property of any description,
subject, in the case of any such contribution, to any lawful condition to the use thereof
that is specified by the donor thereof and that is not inconsistent with the provisions of
this division. (3) To deposit, or to cause to be deposited, into any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-54-127.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
27-6-16
Section 27-6-16 Release of deposit - Filing of statement; authorization of release. (a) Before
authorizing the release of any deposit or excess portion thereof to the insurer, as provided
in Section 27-6-15, the commissioner shall require the insurer to file with him a statement
under its seal and the oath of its chief executive officer, or of its United States manager
in the case of an alien insurer, setting forth the facts upon which it bases its entitlement
to such release. (b) If release of the deposit is claimed by the insurer upon the ground that
its liabilities in this state, as to which the deposit was originally made and is held, have
been assumed by another insurer authorized to transact insurance in this state, the insurer
shall file with the commissioner a copy of the contract or agreement of such reinsurance.
(c) Upon being satisfied by such statement and such other information and evidence as he may
reasonably require and by such examination, if any, of the affairs of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-6-16.htm - 1K - Match Info - Similar pages
16-44A-32
Section 16-44A-32 Powers and duties of board. In furtherance of the purposes of the trust,
the board of trustees shall have the following powers and duties: (1) Accept gifts, contributions,
donations of funds or land, bequests, grants, appropriations, membership fees, or other forms
of financial assistance for educational and other purposes in furtherance of this article,
from any federal entity, from the state, its agencies and various political subdivisions,
or any public or other entity, any and all of which are hereby authorized to grant any of
the foregoing forms of assistance, or from any private person, foundation, corporation, or
other agency, and to comply with any rules and regulations concerning grants by the federal
government or other grantors, which are not in contravention of the Constitution and laws
of this state or the United States. In fulfillment of its statewide civic educational mission,
the trust may enter into cooperative agreements with local, state, regional,...
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