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34-27-64
Section 34-27-64 Registration fees; assessment of costs of investigating violation of article.
(a) For the registration of all vacation time-sharing plans and the accommodations and facilities
affected thereby which are located within the state, there shall be paid to the commission
the initial sum of seven hundred fifty dollars ($750), together with an annual renewal fee
of seven hundred fifty dollars ($750). In addition to submitting an annual renewal fee, each
time-sharing plan must submit an audited annual financial statement of the entity or person
in whose name the plan is registered done by a certified public accountant and such other
materials as the commission shall require for an annual registration renewal. For amendments
or changes to each sales promotion including brochures, pamphlets, advertisements, or other
materials disseminated to the public required pursuant to subdivision (2) of Section 34-27-51,
there shall be paid a fee of twenty dollars ($20) at the time of...
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8-6-2
Section 8-6-2 Definitions. When used in this article, unless the context otherwise requires,
the following terms shall have the meanings respectively ascribed to them by this section:
(1) COMMISSION or SECURITIES COMMISSION. The securities commission. (2) AGENT. Any individual
other than a dealer who represents a dealer or issuer in effecting or attempting to effect
sales of securities, but such term does not include an individual who represents an issuer
in: a. Effecting a transaction in a security exempted by subdivisions (1), (2), (3), (4),
(9) or (10) of Section 8-6-10; b. Effecting transactions exempted by Section 8-6-11; or c.
Effecting transactions with existing employees, partners, or directors of the issuer if no
commission or other remuneration is paid or given directly or indirectly for soliciting any
person in this state. A partner, officer, or director of a dealer or issuer is an agent if
he otherwise comes within this definition. (3) DEALER. Any person engaged in the...
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8-20-4
Section 8-20-4 Unfair and deceptive trade practices. Notwithstanding the terms, provisions,
or conditions of any dealer agreement or franchise or the terms or provisions of any waiver,
prior to the termination, cancellation, or nonrenewal of any dealer agreement or franchise,
the following acts or conduct shall constitute unfair and deceptive trade practices: (1) For
any manufacturer, factory branch, factory representative, distributor, or wholesaler, distributor
branch, or distributor representative to coerce or attempt to coerce any motor vehicle dealer
to do any of the following: a. To accept, buy, or order any motor vehicle or vehicles, appliances,
equipment, parts, or accessories therefor, or any other commodity or commodities or service
or services which such motor vehicle dealer has not voluntarily ordered or requested except
items required by applicable local, state, or federal law; or to require a motor vehicle dealer
to accept, buy, order, or purchase such items in order to...
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11-49B-7
Section 11-49B-7 Powers of authority. The authority shall exercise, subject to this chapter,
the following powers and duties necessary to the discharge of its powers and duties in corporate
form: (1) To have succession by its corporate name for the duration of time, which may be
perpetual, subject to the provisions of Section 11-49B-19 specified in its certificate of
incorporation. (2) To sue and be sued in its own name in civil suits and actions and to defend
suits against it. (3) To adopt and make use of a corporate seal and to alter the seal at pleasure.
(4) To adopt and alter bylaws for the regulation and conduct of its affairs and business.
(5) To acquire, receive, and take, by purchase, gift, lease, devise, or otherwise, and to
hold property of every description, real, personal, or mixed, whether located in one or more
counties or municipalities and whether located within or outside the authorizing county. (6)
To make, enter into, and execute contracts, agreements, leases, and...
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22-21-318
Section 22-21-318 Powers of authority. (a) In addition to all other powers granted elsewhere
in this article, and subject to the express provisions of its certificate of incorporation,
an authority shall have the following powers, together with all powers incidental thereto
or necessary to the discharge thereof in corporate form: (1) To have succession by its corporate
name for the duration of time, which may be in perpetuity, specified in its certificate of
incorporation or until dissolved as provided in Section 22-21-339; (2) To sue and be sued
in its own name in civil suits and actions, and to defend suits and actions against it, including
suits and actions ex delicto and ex contractu, subject, however, to the provisions of Chapter
93 of Title 11, which chapter is hereby made applicable to the authority; (3) To adopt and
make use of a corporate seal and to alter the same at pleasure; (4) To adopt, alter, amend
and repeal bylaws, regulations and rules, not inconsistent with the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-318.htm - 12K - Match Info - Similar pages
34-27-57
Section 34-27-57 Acts constituting violation of article - Sell, etc., interest in plan to third
person that substantially affects rights of other owners. (a) It shall be a violation of this
article for any seller of vacation time-sharing plans to sell, lease, assign, or otherwise
transfer the seller's interest in the vacation time-sharing plan or the accommodations or
facilities to a third party when such a sale, lease, assignment, or other transfer substantially
affects the rights of other owners or lessees of the time-share units, unless: (1) The third
party agrees in writing to: a. Fully honor the rights of purchasers of the vacation time-sharing
plan to occupy and use the accommodations or facilities; and b. Fully honor rights of purchasers
of the vacation time-sharing plan to cancel their contracts and receive an appropriate refund
as provided in this article; and c. Comply with the provisions of this article for as long
as the third party continues to sell the vacation...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/34-27-57.htm - 2K - Match Info - Similar pages
34-27-60
Section 34-27-60 Acts constituting violation of article - Misrepresentation; waiver of rights
of purchasers; sale, etc., without license; bad checks. It shall be a violation of this article
for any seller of vacation time-sharing plans to: (1) Use any promotional device, including
but not limited to sweepstakes, lodging certificates, gift awards, premiums, or discounts,
without fully disclosing that such promotional devices are being used for the purpose of soliciting
the sale of vacation time-sharing plans and without fully disclosing the fair market value
of each award or prize offered and the approximate odds of receiving each award or prize offered.
(2) Use any promotional device as set forth above to obtain the names and addresses of prospective
purchasers without fully and prominently disclosing that names and addresses so acquired will
be used for the purpose of soliciting the sale of the vacation time-sharing plans. (3) Misrepresent
the amount of time or period of time the...
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34-27-55
Section 34-27-55 Acts constituting violation of article - Failure to refund all payments; failure
to place all funds in escrow account. It shall be a violation of this article for a seller
of vacation time-sharing plans to: (1) Fail to refund any and all payments made by the buyer
under the contract and return any negotiable instrument, other than checks, executed by the
buyer in connection with the contract or services within 20 days after receipt of notice of
cancellation made pursuant to Section 34-27-53, if the buyer has not received any benefits
pursuant to the contract. (2) If the buyer has received any benefits pursuant to the contract,
fail to refund within 30 days after receipt of notification of cancellation made pursuant
to Section 34-27-53 or Section 34-27-54 any and all payments made by the buyer to the seller
which exceed a pro rata portion of the total price, taking into consideration the cost of
use of the time-share facilities at an average rental rate per unit for all...
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4-3-47
Section 4-3-47 Powers of authority generally. The authority shall have the following powers,
together with all powers incidental thereto or necessary to the discharge thereof in corporate
form: (1) To have succession by its corporate name for the duration of time (which may be
in perpetuity) specified in its certificate of incorporation; (2) To sue and be sued in its
own name in civil actions, excepting actions in tort against the authority; (3) To adopt and
make use of a corporate seal and to alter the same at pleasure; (4) To adopt and alter bylaws
for the regulation and conduct of its affairs and business; (5) To acquire, receive, take
and hold, whether by purchase, option to purchase, gift, lease, devise or otherwise, property
of every description, whether real, personal or mixed, whether in one or more counties and
whether within or without the corporate limits of any authorizing subdivision, and to manage
said property and to develop any property and to sell, exchange, lease or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/4-3-47.htm - 16K - Match Info - Similar pages
34-27-63
Section 34-27-63 Filing of plan relating to units not substantially completed requires filing
of additional documents. If a seller files with the commission any vacation time-sharing plan
or any amendment thereto which describes or concerns time-sharing units, accommodations, or
facilities not substantially completed, the seller shall file with the commission the following:
(1) A notarized statement showing all costs involved in completing each phase of the project.
(2) A notarized statement of the time of completion of construction of each phase of the project.
(3) Satisfactory evidence of sufficient funds to cover all costs to complete the project.
(4) A copy of the executed construction contract and any other contracts for the completion
of the project. (5) A 100 percent payment performance bond payable to the State of Alabama
from a surety company authorized to do business in Alabama, covering the entire cost of construction
necessary to complete the project. (6) If purchasers'...
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