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45-39A-11.03
Section 45-39A-11.03 Civic Center Authority - Powers; officers, contracts. (a) The power of
the authority shall be vested in and exercised by a majority of the members of the board of
directors; however, the board may delegate to one or more of its members or its officers,
agents, and employees such duties as it may deem proper. The board of directors shall elect
a vice chair of the board, who shall serve as chair in the event of the chair's absence. The
board of directors shall also elect a treasurer and a secretary. The same person may serve
as secretary and treasurer. The secretary and treasurer may or may not be a member of the
board. The treasurer shall act as custodian of all the funds, from whatever sources derived,
received by the authority. The treasurer shall deposit the monies in a separate account or
accounts in one or more bank or banks or trust companies which are duly qualified and doing
business in the State of Alabama; provided, however, that the authority may by...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-39A-11.03.htm - 3K - Match Info - Similar pages
11-65-19
Section 11-65-19 Review of application for operator's license. (a) A commission shall promptly
consider any application for the issuance or transfer of an operator's license submitted to
it and shall grant or deny the issuance or transfer of such license based on all information
before it, including the results of investigations it deems appropriate. A commission shall
deny a license to any applicant unless it finds as follows: (1) That such applicant is a business
entity, whether a corporation, partnership, or other kind of organization, possessing the
organizational substance, financial soundness, managerial capability, and business experience
with racing and pari-mutuel wagering operations, or with businesses requiring similar managerial
experience and skill, that, in the reasonable judgment of the commission, are necessary to
conduct horse racing and pari-mutuel wagering thereon or greyhound racing and pari-mutuel
wagering thereon, as the case may be, at the location for which an...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-65-19.htm - 8K - Match Info - Similar pages
11-88-132
Section 11-88-132 Acquisition, etc., of water system of water and fire protection authority
by city board of water and sewer commissioners - Conveyance of funds in trust for authority's
fire protection system; governing board of authority as trustees; trustees' powers and liabilities.
(a) In the event that the board of water and sewer commissioners of any city ("commissioners")
should acquire, operate, or control by virtue of assignment, conveyance, court order, operation
of law, or otherwise the water system of a water and fire protection authority ("authority"),
then the commissioners shall thereupon convey to the authority the principal sum of $2,000,000
in irrevocable trust for the support and maintenance of the authority's fire protection system.
(b) The trustees of the trust so established shall be the members of the governing board of
the authority, as it may be comprised from time to time, who shall have all powers necessary
to effect the support and maintenance of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-88-132.htm - 6K - Match Info - Similar pages
19-3-120
Section 19-3-120 Classes of authorized investments; repeal of conflicting statutes. (a) Unless
otherwise authorized or directed by the court having jurisdiction thereof, or by the will,
trust agreement or other document which is the source of authority, a trustee, executor, administrator,
guardian or one acting in any other fiduciary capacity, other than as a trustee governed by
the Alabama Uniform Trust Code, with the exercise of reasonable business prudence, in addition
to any other investments now permitted by law, may invest funds in securities or investments
which, at the time of the making or purchase thereof, are included in one or more of the following
classes: (1) Bonds or other interest-bearing obligations of the United States of America,
or payment of which the United States of America has guaranteed as to both principal and interest.
(2) Bonds issued by the Federal Land Bank, under the act of Congress of the United States
of America, designated as "the Federal Farm Loan...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-3-120.htm - 5K - Match Info - Similar pages
19-4-20
Section 19-4-20 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 or a custodian.
(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 an oil, gas or mining title or lease or in payments out...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-4-20.htm - 1K - Match Info - Similar pages
27-41-30
Section 27-41-30 Particular investments - Loans, notes, etc., secured by mortgages and leases
on real property. An insurer may invest in loans, notes, bonds, or other evidences of indebtedness
of any person up to the fair value of real property securing said indebtedness, upon compliance
with the following conditions and provisions: (1) The indebtedness must be secured by a first
mortgage lien on real property having a fair value of not less than the principal amount of
the loan, except as provided in subdivision (8) of this section; (2) The indebtedness must
be additionally secured by a lease on said real property, which lease must be assigned and
transferred by the lessor to the lender or to a trustee of the lender under a trust instrument;
(3) The lease so assigned as additional security must be noncancellable and may be terminated
only upon such conditions as are generally provided in commercial leases, such as, for example,
destruction by fire, tornado, or similar hazard or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-41-30.htm - 4K - Match Info - Similar pages
35-8A-313
Section 35-8A-313 Insurance. (a) Commencing not later than the time of the first conveyance
of a unit to a person other than a declarant, the association shall maintain, to the extent
reasonably available: (1) Property insurance on the common elements insuring against all risks
of direct physical loss commonly insured against or, in the case of a conversion building,
against fire and extended coverage perils. The total amount of insurance after application
of any deductibles shall be not less than the greater of 80 percent of the actual cash value
of the insured property at the time the insurance is purchased or such greater percentage
of such actual cash value as may be necessary to prevent the applicability of any co-insurance
provision and at each renewal date, exclusive of land, excavations, foundations, and other
items normally excluded from property policies; and (2) Liability insurance, including medical
payments insurance, in an amount determined by the board but not less than...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-8A-313.htm - 6K - Match Info - Similar pages
8-32-3
Section 8-32-3 Requirements for selling or offering to sell service contracts. (a) Either the
provider or its designee shall: (1) Provide a receipt for, or other written evidence of, the
purchase of the service contract to the contract holder. (2) Provide a copy of the service
contract to the service contract holder within a reasonable period of time from the date of
purchase. (b) A provider may, but is not required to, appoint an administrator or other designee
to be responsible for any or all of the administration of service contracts and compliance
with this chapter. (c) Each provider of service contracts sold in this state shall file a
registration with the commissioner on a form prescribed by the commissioner. Each provider
shall pay to the commissioner a fee in the amount of two hundred dollars ($200) annually.
All fees collected shall be paid into a special revolving fund to be set up by the State Treasurer
referred to as the "Service Contract Revolving Fund." The Service...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-32-3.htm - 8K - Match Info - Similar pages
11-81-141
Section 11-81-141 Powers of municipalities or counties generally; provisions in instruments
or deeds of trust creating pledges, mortgages, liens, etc., for payment of bonds; determination
of costs of acquisition, construction, etc., of undertakings. (a) In addition to the powers
which it may now have, any municipality or county shall have power under this division: (1)
To acquire by gift or purchase, to construct, to reconstruct, to improve, to better or to
extend any undertaking within or without the municipality or county or partially within or
partially without the municipality or county; (2) To operate and maintain any undertaking
for its own use and for the use of public and private consumers and users within and without
the territorial boundaries of the municipality or county; (3) To lease any undertaking or
portion thereof to any agency or department of the State of Alabama for a period or periods
not exceeding 40 years from the completion of the construction of the work, if...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-81-141.htm - 6K - Match Info - Similar pages
32-7B-6
Section 32-7B-6 Responsibilities of the department. The department shall do the following:
(1) Cooperate with insurers in operating the online insurance verification system. (2) Maintain
the list of authorized requesting entities and individuals and make that a part of the online
insurance verification system. (3) Maintain the online insurance verification system framework
necessary to inquire of insurers using the key or keys in accordance with subdivision (3)
of Section 32-7B-4. (4) Provide data security for the type of information transferred as prescribed
by the advisory council. Data secured via the online insurance verification system may not
be shared with any party other than those permitted by state or federal privacy laws. (5)
Be responsible for keeping the advisory council informed on functionality, and planned or
unplanned service interruptions. (6) Provide alternative methods of reporting for small insurers
writing no more than 500 vehicles in the state as prescribed by...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/32-7B-6.htm - 2K - Match Info - Similar pages
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