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11-92C-8
Section 11-92C-8 Powers of authority. (a) 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,
subject to Section 11-92C-20, specified in its certificate of incorporation. (2) To sue and
be sued in its own name and to prosecute and defend civil actions in any court having jurisdiction
of the subject matter and of the parties; provided that the authority shall be deemed to be
a governmental entity as defined in Chapter 93 of this title for the purpose of limiting the
damages for which the authority may be liable. (3) To adopt and make use of a corporate seal
and to alter the seal at its pleasure. (4) To adopt and alter bylaws for the regulation and
conduct of its affairs and business. (5) To acquire, whether by purchase, construction, exchange,
gift, lease, or otherwise, and to refinance existing...
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24-1A-6
Section 24-1A-6 Bonds. (a) General. The authority may from time to time issue its negotiable
bonds in such principal amounts as, in the opinion of the authority, shall be necessary to
provide sufficient funds for achieving the corporate purposes thereof, the payment of interest
on bonds of the authority, establishment of reserves to secure such bonds and all other expenditures
of the authority incident to, and necessary or convenient to, carrying out its corporate purposes
and powers. (b) Sources of Payment. Bonds issued by the authority shall be payable solely
out of revenues or property of the authority specified in the resolutions authorizing the
issuance of such bonds. To the extent permitted by any contracts with the holders of outstanding
bonds and any other contractual obligations or requirements, the authority may pledge any,
or all, of its revenues or mortgages or assign any, or all, of its assets (whether real or
personal and whether tangible or intangible) to secure the...
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35-4-26
Section 35-4-26 Acknowledgment - Officers authorized to take outside Alabama; validity; certification.
(a) Acknowledgments, proofs of conveyances, and affidavits may be taken within the United
States and beyond the State of Alabama, by judges and clerks of any federal court, judges
and clerks of any state court of record in any state, notaries public, commissioners appointed
by the Governor of this state, the commissioner of deeds for the state wherein the acknowledgment
is taken, or by any commissioned officer of any of the Armed Forces of the United States.
Beyond the limits of the United States, the acknowledgments, proofs, and affidavits may be
taken by the judges of any court of record, mayor or chief magistrate of any city, town, borough,
or county, by any diplomatic, consular, or commercial agent of the United States, notaries
public, or by any commissioned officer of any of the Armed Forces of the United States. (b)
Notwithstanding any provision of this chapter, the...
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43-8-1
Section 43-8-1 General definitions. Subject to additional definitions contained in the subsequent
articles which are applicable to specific articles or divisions, and unless the context otherwise
requires, in this chapter, the following words shall have the following meanings: (1) BENEFICIARY.
As it relates to trust beneficiaries, includes a person who has any present or future interest,
vested or contingent, and also includes the owner of an interest by assignment or other transfer
and as it relates to a charitable trust, includes any person entitled to enforce the trust.
(2) CHILD. Includes any individual entitled to take as a child under this chapter by intestate
succession from the parent whose relationship is involved and excludes any person who is only
a stepchild, a foster child, a grandchild or any more remote descendant. (3) COURT. The court
having jurisdiction in matters relating to the affairs of decedents. This court in Alabama
is known as the probate court. (4) DAYS. That...
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10A-20-7.04
Section 10A-20-7.04 Powers of corporation. In furtherance of its purposes and in addition to
the powers now or hereafter conferred on business corporations by Alabama statutes, the corporation
shall, subject to the restrictions and limitations contained in this section, have the following
powers: (1) To elect, appoint, and employ officers, agents, and employees to make contracts
and incur liabilities for any of the purposes of the corporation; provided, that the corporation
shall not incur any secondary liability by way of guaranty or endorsement of the obligations
of any person, firm, corporation, joint stock company, association, or trust or in any other
manner. (2) To borrow money from its members and the small business administration and any
other similar federal agency for any of the purposes of the corporation, to issue therefor
its bonds, debentures, notes, or other evidences of indebtedness, whether secured or unsecured,
and to secure the same by mortgage, pledge, deed of...
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10A-8A-7.01
Section 10A-8A-7.01 Purchase of transferable interest of a person dissociated as a partner.
(a) If a person is dissociated as a partner from a partnership without resulting in a dissolution
and winding up of the partnership business or not for profit activity under Section 10A-8A-8.01,
the partnership shall cause that person's transferable interest in the partnership owned by
that person at the time of dissociation to be purchased for a buyout price determined pursuant
to subsection (b). (b) The buyout price of the transferable interest owned by the person at
the time of dissociation as a partner is an amount equal to the fair value of that person's
transferable interest as of the date of dissociation. Interest on the buyout price must be
paid from the date of dissociation to the date of payment. (c) Damages for wrongful dissociation
under Section 10A-8A-6.02(b) and (c), and all other amounts owing, whether or not presently
due, from the person dissociated as a partner to the...
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11-54A-9
Section 11-54A-9 Powers of authority; all projects to be in development area. (a) 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 perpetuity, subject to Section 11-54A-20, specified in
its certificate of incorporation. (2) To sue and be sued in its own name and to prosecute
and defend civil actions in any court having jurisdiction of the subject matter and of the
parties. (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, whether by purchase, construction, exchange, gift, lease, or otherwise and
to refinance existing indebtedness on, improve, maintain, equip, and furnish one or more projects,
including all real and personal properties which the board of the authority may...
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13A-9-48
Section 13A-9-48 Fraud in insolvency. (a) A person commits the crime of fraud in insolvency
if, with the intent to defraud a creditor and with knowledge or reason to believe either that
proceedings have been or are about to be instituted for the appointment of a receiver or that
a composition agreement or other arrangement for the benefit of creditors has been or is about
to be made, he: (1) Conveys, transfers, removes, conceals, destroys, encumbers or otherwise
disposes of any part of or any interest in the debtor's estate; or (2) Presents to any creditor
or to the receiver any writing or record relating to the debtor's estate, not otherwise within
the coverage of Sections 13A-10-101, 13A-10-102 or 13A-10-109, knowing or having reason to
believe that it contains a false material statement; or (3) Misrepresents or refuses to disclose
to the receiver, under circumstances not amounting to a violation of Section 13A-10-4, the
existence, amount or location of any part of or an interest in...
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25-13-7
Section 25-13-7 Application for license. (a) Elevator Contractor. Any sole proprietor, firm,
or corporation wishing to engage in the business of elevator, dumbwaiter, escalator, moving
sidewalk, or other conveyance installation, alteration, service, replacement, or maintenance
within this jurisdiction shall make application for a license with the administrator on a
form provided by the administrator. (b) Elevator Mechanic. Any person wishing to engage in
installing, altering, repairing, or servicing an elevator, dumbwaiter, escalator, moving sidewalk
installation, alteration, service, replacement, or maintenance within the jurisdiction of
this state shall make application for a license with the administrator on a form provided
by the administrator. (c) Inspector. Any person wishing to engage in the business of elevator,
dumbwaiter, escalator, moving walk, or platform or stairway chairlift inspections within the
jurisdiction of this state shall make application for a license with the...
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27-3-6.1
Section 27-3-6.1 Authority to transact insurance - Kind or combinations of kinds - Closing
or settlement protection. (a) Notwithstanding the provisions of subdivision (3) of Section
27-3-6, a title insurer may issue closing or settlement protection to a person who is a party
to a transaction in which a title insurance policy will be issued. (b) The form of closing
or settlement protection shall be submitted to and approved by the commissioner. (c) The closing
or settlement protection may indemnify a person only against loss of closing or settlement
funds because of one of the following acts of a settlement agent, such as a title insurance
agent or other settlement service provider which has been approved by the title insurer for
such protection, under the terms and conditions of the closing protection as approved by the
commissioner: (1) Theft or misappropriation of settlement funds in connection with a transaction
in which a title insurance policy or title insurance policies will be...
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