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13A-9-13.2
Section 13A-9-13.2 Negotiating worthless negotiable instrument - Notice of refusal of payment
upon instrument. For purposes of Section 13A-9-13.1: (1) Notice mailed by certified or registered
mail, evidenced by return receipt, to the address printed on the instrument or given at the
time of issuance shall be deemed sufficient and equivalent to notice having been received
by the person making, drawing, uttering, or delivering the instrument. (2) The form of notice
shall be substantially as follows: "This statutory notice is provided pursuant to Section
13A-9-13.2 of the Alabama Code. You are hereby notified that a check or instrument numbered
_____, apparently issued by you on ___ (date), drawn upon ___ (name of bank), and payable
to ___, has been dishonored. Pursuant to Alabama law, you have 10 days from receipt of this
notice to tender payment of the full amount of the check or instrument plus a service charge
of not more than (fill in appropriate amount provided by...
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27-12-13
Section 27-12-13 Life, annuity, and disability insurance - Exceptions to discrimination, rebates,
or special inducements. Nothing in Sections 27-12-11 and 27-12-12 shall be construed as including
within the definition of discrimination, rebates, or special inducements any of the following
practices: (1) In the case of any contract of life insurance or annuity, paying bonuses to
policyholders or otherwise abating their premiums in whole or in part out of surplus accumulated
from nonparticipating insurance, provided, that any such bonuses or abatement of premiums
is fair and equitable to policyholders and for the best interests of the insurer and its policyholders;
(2) In the case of life or disability insurance policies issued on the industrial debit or
weekly premium plan, making allowance to policyholders who have continuously for a specified
period made premium payments directly to an office of the insurer in an amount which fairly
represents the saving in collection expense; (3)...
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34-5-12
Section 34-5-12 Disposition of receipts; expenses and audit. All money, funds, and other receipts
received by the board shall be deposited in a depository which shall be a bank within the
state designated by the board. Such funds shall be expended for carrying out the purposes
of this chapter and may be withdrawn on order of the executive officer of the board. All such
money and funds and other receipts are hereby appropriated for use of the board for the necessary
and proper expenses of the board and for carrying out the purposes of this chapter. The accounts
of the board shall be examined annually by the Office of the Chief Examiner of Public Accounts
of the State of Alabama. (Acts 1971, No. 403, p. 689, ยง13.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/34-5-12.htm - 1K - Match Info - Similar pages
40-1-5
Section 40-1-5 Reports; remitting of payments. (a) Whenever in this title a tax is payable
to the Department of Revenue, or to the judge of probate or to any other officer on a monthly,
quarterly, or other periodic basis, and reports of gross receipts, gross loans, gross sales,
the gross tonnage, capital invested, daily, monthly, quarterly, or other period for computing
capacity or other similar reports are required to be made, except as otherwise specifically
provided or when not in conflict with such specific provisions, such reports shall show substantially
the following: (1) The name of the person, firm, or corporation; (2) The president or managing
officer; (3) The principal office or place of business; (4) Its principal office or place
of business within this state; (5) The total amount of gross sales, gross receipts, gross
loans, gross tonnage, capital invested, daily, monthly, quarterly, or other period of capacity
applicable to the computation of a tax on its business, or...
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7-4-303
Section 7-4-303 When items subject to notice, stop-payment order, legal process, or setoff;
order in which items may be charged or certified. (a) Any knowledge, notice, or stop-payment
order received by, legal process served upon, or setoff exercised by a payor bank comes too
late to terminate, suspend, or modify the bank's right or duty to pay an item or to charge
its customer's account for the item if the knowledge, notice, stop-payment order, or legal
process is received or served and a reasonable time for the bank to act thereon expires or
the setoff is exercised after the earliest of the following: (1) The bank accepts or certifies
the item; (2) The bank pays the item in cash; (3) The bank settles for the item without having
a right to revoke the settlement under statute, clearing-house rule, or agreement; (4) The
bank becomes accountable for the amount of the item under Section 7-4-302 dealing with the
payor bank's responsibility for late return of items; or (5) With respect to...
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7-4A-105
Section 7-4A-105 Other definitions. (a) In this article: (1) "Authorized account"
means a deposit account of a customer in a bank designated by the customer as a source of
payment of payment orders issued by the customer to the bank. If a customer does not so designate
an account, any account of the customer is an authorized account if payment of a payment order
from that account is not inconsistent with a restriction on the use of that account. (2) "Bank"
means a person engaged in the business of banking and includes a savings bank, savings and
loan association, credit union, and trust company. A branch or separate office of a bank is
a separate bank for purposes of this article. (3) "Customer" means a person, including
a bank, having an account with a bank, or from whom a bank has agreed to receive payment orders.
(4) "Funds-transfer business day" of a receiving bank means the part of a day during
which the receiving bank is open for the receipt, processing, and transmittal of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-4A-105.htm - 3K - Match Info - Similar pages
7-4A-106
Section 7-4A-106 Time payment order is received. (a) The time of receipt of a payment order
or communication cancelling or amending a payment order is determined by the rules applicable
to receipt of a notice stated in Section 7-1-202. A receiving bank may fix a cut-off time
or times on a funds-transfer business day for the receipt and processing of payment orders
and communications cancelling or amending payment orders. Different cut-off times may apply
to payment orders, cancellations, or amendments, or to different categories of payment orders,
cancellations, or amendments. A cut-off time may apply to senders generally or different cut-off
times may apply to different senders or categories of payment orders. If a payment order or
communication cancelling or amending a payment order is received after the close of a funds-transfer
business day or after the appropriate cut-off time on a funds-transfer business day, the receiving
bank may treat the payment order or communication as...
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7-4A-403
Section 7-4A-403 Payment by sender to receiving bank. (a) Payment of the sender's obligation
under Section 7-4A-402 to pay the receiving bank occurs as follows: (1) If the sender is a
bank, payment occurs when the receiving bank receives final settlement of the obligation through
a Federal Reserve Bank or through a funds-transfer system. (2) If the sender is a bank and
the sender (i) credited an account of the receiving bank with the sender, or (ii) caused an
account of the receiving bank in another bank to be credited, payment occurs when the credit
is withdrawn, or if not withdrawn, at midnight of the day on which the credit is withdrawable
and the receiving bank learns of that fact. (3) If the receiving bank debits an account of
the sender with the receiving bank, payment occurs when the debit is made to the extent the
debit is covered by a withdrawable credit balance in the account. (b) If the sender and receiving
bank are members of a funds-transfer system that nets obligations...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-4A-403.htm - 3K - Match Info - Similar pages
7-4A-502
Section 7-4A-502 Creditor process served on receiving bank; setoff by beneficiary's bank. (a)
As used in this section, "creditor process" means levy, attachment, garnishment,
notice of lien, sequestration, or similar process issued by, or on behalf of a creditor or
other claimant with respect to an account. (b) This subsection applies to creditor process
with respect to an authorized account of the sender of a payment order if the creditor process
is served on the receiving bank. For the purpose of determining rights with respect to the
creditor process, if the receiving bank accepts the payment order the balance in the authorized
account is deemed to be reduced by the amount of the payment order to the extent the bank
did not otherwise receive payment of the order, unless the creditor process is served at a
time and in a manner affording the bank a reasonable opportunity to act on it before the bank
accepts the payment order. (c) If a beneficiary's bank has received a payment order...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-4A-502.htm - 2K - Match Info - Similar pages
11-81-183
Section 11-81-183 Designation of depository; disposition and disbursement of gross revenue
account and special funds by depository. The governing body of the borrower shall designate
as depository for the "gross revenue account" and each of the special funds provided
for in Section 11-81-181 a bank or trust company duly qualified and doing business within
the State of Alabama. The moneys in said account and in each of the said funds shall be received
and held by the respective depositories therefor in separate and special accounts as trust
funds for the benefit of the borrower and the holders of the bonds and coupons as their respective
interests may appear and shall be applied only for the respective purposes specified in the
authorizing proceedings or any trust indenture provided for in the authorizing proceedings;
provided, that the authorizing proceedings or such trust indenture may provide that any depository
for said account or for the said replacement and extension fund shall...
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