27-33-13
Section 27-33-13 Trusteed assets - Withdrawal. (a) The trust agreement shall provide, in substance, that no withdrawals of trusteed assets shall be made by the insurer or permitted by the trustee without the written authorization or approval of the commissioner in advance thereof except as follows: (1) Any or all income, earnings, dividends, or interest accumulations of the trusteed assets may be paid over to the United States manager of the insurer upon request of the insurer or the manager; (2) For substitution, coincidentally with such withdrawal, of other securities or assets of value at least equal in amount to those being withdrawn, if such substituted securities or assets are likewise such as are eligible for investment of the funds of like domestic insurers and if such withdrawal is requested in writing by the insurer's United States manager pursuant to general or specific written authority previously given or delegated by the insurer's board of directors, or other similar...
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45-37-150.01
Section 45-37-150.01 Definitions. As used in this article: (1) BINGO. That specific kind of game commonly known as bingo in which prizes are awarded on the basis of designated numbers or symbols on a card or electronic marking machine conforming to numbers or symbols selected at random. (2) CHIEF OF POLICE. The chief of police of any municipality electing to establish a bingo ordinance parallel, or similar, to this article to apply in the municipality. (3) EDUCATION ORGANIZATION. An organization within this state, not for pecuniary profit, whose primary purpose is education in nature and designed to develop the capabilities of individuals by instruction in any public or private elementary or secondary school, or any private college, not for pecuniary profit, and approved by the State Department of Education. (4) EQUIPMENT. The receptacle and numbered objects drawn from it, the master board upon which such objects are placed as drawn, the cards or sheets bearing numbers or other...
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11-50-416
Section 11-50-416 Purpose of article; proceedings, notices, etc., required by article for incorporation, etc., exclusive; exemption of districts from jurisdiction and regulation of state public service commission. (a) This article is intended to aid the state in the execution of its duties by providing appropriate and independent instrumentalities of the state with full and adequate powers to fulfill their functions. (b) Except as in this article expressly otherwise provided, no proceeding, notice or approval shall be required for the incorporation of any gas district or the amendment of its articles of incorporation, the acquisition of any property or system or systems or the making of any loans or the issuance of any bonds or instruments in evidence thereof or as security therefor, any other law to the contrary notwithstanding. (c) Every district incorporated under this article and every gas system of such district and the rates and charges thereof shall be exempt from all...
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10A-2-12.02
Section 10A-2-12.02 Sale of assets other than in regular course of business. REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) Subject to the limitations of the Constitution of Alabama of 1901, as the same may be amended from time to time, a corporation may sell, lease, exchange, or otherwise dispose of all, or substantially all, of its property, with or without the good will, otherwise than in the usual and regular course of business on the terms and conditions and for the consideration determined by the corporation's board of directors, if the board of directors proposes and its shareholders approve the proposed transaction. (b) For a transaction to be authorized: (1) The board of directors must recommend the proposed transaction to the shareholders unless the board of directors determines that because of a conflict of interest or other special circumstances it should make no recommendation and communicates...
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10A-20-5.01
Section 10A-20-5.01 Amendment of charter; fees for filing same; certified copy thereof. (a) Any educational institution heretofore incorporated under special act of the Legislature or under the general laws of the state may amend its charter as follows: (1) The trustees of the corporation must adopt a resolution embracing the desired amendment of the charter, which must be spread upon the minutes of the trustees; (2) If the trustees are not self-perpetuating, but are appointed or elected by any persons or organization other than the trustees themselves, a resolution embracing the desired amendments to the charter shall be submitted to the persons or organization having the power to elect or appoint the trustees, and the resolution shall be approved by the persons or organization having the power to elect or appoint the trustees; (3) The resolution must then be submitted to the Governor, together with the approval of the persons or organization having the power to appoint or elect the...
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11-15-4
Section 11-15-4 Certificate of incorporation - Contents; approval. The certificate of incorporation of the corporation shall state: (1) The names of the persons forming the corporation together with the residence of each thereof and a statement that each of them is a duly qualified elector of and property owner in the county; (2) The name of the corporation; (3) The location of its principal office, which shall be in the county seat of the county; (4) The number of directors (which shall be three or a multiple of three); and (5) Any other matters relating to the corporation which the incorporators may choose to insert and which shall not be inconsistent with this chapter or with the laws of the state. The name designated for the corporation in the certificate of incorporation shall be one indicating the purpose thereof, such as "___ County Public Building Authority" (the name of the county to be filled in the blank space) or some other name of similar import. The form and contents...
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16-17A-21
Section 16-17A-21 Reincorporation. (a) Any public corporation that meets the criteria specified in subsection (b) may reincorporate as an authority under this chapter, and become subject to and governed by this chapter, as provided in this section. (b) A public corporation may reincorporate under this section if it satisfies both of the following: (1) The public corporation is a health care authority incorporated or reincorporated under Title 22, Chapter 21, Articles 11 and 11A. (2) The public corporation was incorporated with the approval of a university. (c) In order to reincorporate a qualifying public corporation as an authority, the following steps shall be completed: (1) The board of directors of the qualifying public corporation shall first adopt a resolution proposing articles of reincorporation. (2) After the adoption by the board of a resolution approving articles of reincorporation, the qualifying public corporation shall file with the sponsoring university a written request...
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22-51-9
Section 22-51-9 Board of directors - Meetings; quorum; constitution and bylaws. The board of directors shall hold monthly meetings and such special meetings as may be called, from time to time, on at least two days' notice given by the chairman or by any three members thereof, said notice to be given to each member thereof; provided, that where the board of directors exceeds 16 members, the executive committee shall meet at least monthly and the complete board of directors shall meet at least every six months. The said board shall adopt a constitution and bylaws, to be subject to this chapter, the certificate of incorporation and laws of the State of Alabama. Three members of the said board shall constitute a quorum for the transaction of business. A copy of the constitution and bylaws shall also be filed with the Alabama Department of Mental Health. (Acts 1967, No. 310, p. 853, ยง8.)...
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27-30-8
Section 27-30-8 Certificate of authority - Application. (a) To apply for a certificate of authority, a mutual aid association shall file with the commissioner its application therefor, on forms as prescribed and furnished by him, and showing: (1) Name of the association and the address of its principal office or place of business in this state; (2) Name, identification, and residence address of each director, trustee, or officer of the association; (3) The types of aid or benefits to be provided its members or policyholders; (4) The general plan or plans according to which its business is, or will be, conducted; and (5) Such other information as the commissioner may reasonably require. (b) The applicant shall at the time of application for certificate of authority file with the commissioner such of the following as are not already on file with him: (1) A copy of its articles of incorporation, its bylaws, and other charter or constituent documents, certified by the public official...
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22-21-358
Section 22-21-358 Powers of authorities. In addition to all other powers at any time conferred on it by law, and subject to any express provisions of its certificate of incorporation or certificate of reincorporation to the contrary, an authority shall (to the extent at the time not prohibited by the Constitution of Alabama) have the following powers, together with all powers incidental thereto or necessary to the discharge thereof in corporate form: (1) To participate as a shareholder in a corporation, as a joint venturer in a joint venture, as a general or limited partner in a limited partnership or a general partnership, as a member in a nonprofit corporation or as a member of any other lawful form of business organization, which provides health care or engages in activities related thereto; (2) To make or arrange for loans, contributions to capital and other debt and equity financing for the activities of any corporation of which such authority is a shareholder, any joint venture...
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