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41-10-497
Section 41-10-497 Powers generally. The authority shall have the following powers among others
specified in this article: (1) To have succession in its corporate name until the principal
of and interest on all bonds issued by it shall have been fully paid and until it shall have
been dissolved as provided herein; (2) To maintain actions and have actions maintained against
it and to prosecute and defend in any court having jurisdiction of the subject matter and
of the parties thereof; (3) To have and to use a corporate seal and to alter such seal at
pleasure; (4) To establish a fiscal year; (5) To acquire and hold title to real and personal
property and to sell, convey, mortgage or lease the same as provided in this article; (6)
To provide for the construction, reconstruction, alteration and improvement of facilities
and for the procurement of sites and equipment for such facilities and for the lease thereof;
(7) To lease facilities to the state, or any agency or instrumentality of the...
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43-8-292
Section 43-8-292 Filing and delivery of disclaimer. (a) Except as provided in subsection (c)
of this section, if the property or interest has devolved to the disclaimant under a testamentary
instrument or by the laws of intestacy, the disclaimer shall be filed, as to a present interest,
not later than nine months after the death of the deceased owner or deceased donee of a power
of appointment and, if of a future interest, not later than nine months after the event determining
that the taker of the property or interest has become finally ascertained and his interest
is indefeasibly vested. The disclaimer shall be filed in the probate court of the county in
which proceedings for the administration of the estate of the deceased owner or deceased donee
of the power have been commenced or, if they have not been commenced, in which they could
be commenced. A copy of the disclaimer shall be delivered in person or mailed by registered
or certified mail to any personal representative or other...
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11-47-170
Section 11-47-170 Acquisition of lands, easements, etc., by municipality; limitations on condemnation.
(a) Except as otherwise provided in subsection (b), whenever in the judgment of the council,
commission, or other governing body of a city or town it may be necessary or expedient for
the carrying out and full exercise of any power granted by the applicable provisions of this
title or any other applicable provision of law, the town or city shall have full power and
authority to acquire by purchase the necessary lands or rights, easements, or interests therein,
thereunder, or thereover or, for the purposes for which private property may be acquired by
condemnation, may proceed to condemn the same in the manner provided by this article, or by
the general laws of this state governing the taking of lands or the acquiring of interests
therein for the uses for which private property may be taken, and such proceedings shall be
governed in every respect by the general laws of this state...
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24-1A-2
Section 24-1A-2 Definitions. The following words and phrases used in this chapter, and others
evidently intended as the equivalent thereof, shall, in the absence of clear implication otherwise,
have the following respective meanings: (1) AUTHORITY. The public corporation and instrumentality
of the state organized pursuant to the provisions of this chapter. (2) AUTHORIZED INVESTMENTS.
Bonds or other obligations of, or guaranteed by, the United States of America or the state;
interest bearing bank and savings and loan association deposits; obligations of any agency
of the United States of America; any obligations in which a state chartered savings and loan
association may invest its funds; any agreement to repurchase any of the foregoing; or any
combination thereof. (3) BOARD OF DIRECTORS. The board of directors of the authority. (4)
BONDS. Bonds or other securities representing an obligation to pay money. (5) ELIGIBLE HOUSING
UNIT. Real and personal properties located in the state...
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35-10-30
Section 35-10-30 Penalty. (a) If, for 30 days after such request, the mortgagee or assignee
or transferee, trustee or cestui que trust, fails to make any entry required by this article
he forfeits to the party making the request $200.00 unless there is pending, or there is instituted,
an action within that time, in which the fact of partial payment or satisfaction is or may
be contested. In construing this article, the right of action given herein shall be considered
as a personal right, and shall not be lost or waived by a sale of the property covered by
the mortgage or deed of trust before a demand was made for the satisfaction to be entered
upon the record. (b) All actions for the recovery of the penalties mentioned in this article
shall be brought in the county where such mortgage or other instrument is recorded. (c) This
section does not apply to satisfactions of residential mortgages which are governed by the
Alabama Residential Mortgage Satisfaction Act. (Code 1852, ยงยง1343,...
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35-10-92
Section 35-10-92 Submission of a satisfaction of a security instrument for recording. (a) A
secured creditor shall submit for recording a satisfaction of a security instrument within
30 days after the creditor receives full payment and performance of the secured obligation,
and the secured creditor has no obligation to make advances, incur obligations, or otherwise
give value under any agreement. Equity line security instruments are fully paid and performed
only if, in addition to full payment and performance, the equity line previously has been
closed pursuant to the request of the entitled person or the entitled person's authorized
agent or otherwise closed as provided by law and all secured obligations have been paid in
full. (b) Notwithstanding anything to the contrary in this article, any notification demanding
satisfaction of the security instrument must be sent to the secured creditor's address by
a method that also provides proof of receipt by the secured creditor. (c) A...
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35-18-2
Section 35-18-2 Easement conveyed, recorded, assigned, etc.; term of easement; interest maintained;
condemnation. (a) Except as otherwise provided in this chapter, a conservation easement may
be created, conveyed, recorded, assigned, released, modified, terminated, or otherwise altered
or affected in the same manner as other easements. A conservation easement may not be created
or expanded under this chapter by any state, county, or local governmental body through the
exercise of the power of eminent domain. (b) No right or duty in favor of or against a holder
and no right in favor of a person having a third-party right of enforcement arises under a
conservation easement before its acceptance by the holder and a recordation of the acceptance.
(c) Except as provided in subsection (b) of Section 35-18-3, the term of a conservation easement
shall be the term stated in the instrument creating the easement or, if no term is stated,
the lesser of 30 years or the life of the grantor, or upon...
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41-10-44.3
Section 41-10-44.3 Additional powers of authority. In addition to the powers granted to it
in Section 41-10-26 and in Sections 41-10-37 through 41-10-43, the authority shall have the
following powers: (1) To adopt and alter bylaws for the regulation and conduct of its affairs
and business; (2) To borrow money and to issue project obligations, whether or not the interest
thereon is excluded from gross income for federal income tax purposes, for the purpose of
financing project costs, and to provide for the rights of the purchasers, holders or owners
of its project obligations; (3) To execute and deliver mortgages, security agreements and
trust indentures and other forms of agreements for the purpose of securing its project obligations,
and in connection therewith, to mortgage, pledge or assign the revenues, receipts and other
property of the authority received, and the financing agreements entered into by the authority
in connection with, the financing of projects under this Article 2A;...
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7-9A-607
Section 7-9A-607 Collection and enforcement by secured party. (a) Collection and enforcement
generally. If so agreed, and in any event after default, a secured party: (1) may notify an
account debtor or other person obligated on collateral to make payment or otherwise render
performance to or for the benefit of the secured party; (2) may take any proceeds to which
the secured party is entitled under Section 7-9A-315; (3) may enforce the obligations of an
account debtor or other person obligated on collateral and exercise the rights of the debtor
with respect to the obligation of the account debtor or other person obligated on collateral
to make payment or otherwise render performance to the debtor, and with respect to any property
that secures the obligations of the account debtor or other person obligated on the collateral;
(4) if it holds a security interest in a deposit account perfected by control under Section
7-9A-104(a)(1), may apply the balance of the deposit account to the...
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8-6-91
Section 8-6-91 Definitions. In this article, unless the context otherwise requires, the following
terms shall have the meanings ascribed to them by this section: (1) BANK. A bank, trust company,
national banking association, savings bank, or industrial bank. (2) BROKER. A person, including
a bank, lawfully engaged in the business of effecting transactions in securities for the account
of others and includes a broker lawfully engaged in buying and selling securities for his
own account. (3) ISSUER. A person who places, or authorizes the placing of, his name on a
security other than as a transfer agent to evidence that it represents a share, participation,
or other interest in his property or in an enterprise or to evidence his duty to perform an
obligation evidenced by the security or who becomes responsible for or in place of any such
person. (4) PERSON. Such term includes a corporation, government or governmental subdivision
or agency, business trust, estate, trust, partnership or...
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