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35-10-20
Section 35-10-20 When indebtedness presumed to have been paid. As to third parties without
actual notice or knowledge to the contrary, the indebtedness secured by any recorded mortgage,
or reservation of vendor's lien, either in deed of conveyance or note, bond or contract of
purchase covering real estate 20 years past due according to the original maturity date, or
some new date fixed by a duly recorded extension agreement, shall be conclusively presumed
to have been paid unless the record of such mortgage or lien shows a credit by the mortgagee,
or lienee, or owner of the debt, or his assignee of one or more payments upon such indebtedness
within the 20 years last passed. And if the final maturity date of the debt is not shown by
the mortgage or lien, or a recorded extension agreement, or cannot be determined by calculation
from the recitals contained therein, then the time shall run from the date of the mortgage
or lien. The notation of credits mentioned in the next preceding...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-10-20.htm - 2K - Match Info - Similar pages
40-22-2
Section 40-22-2 Mortgages, deeds of trust, etc., generally. No mortgage, deed of trust,
contract of conditional sale, or other instrument of like character which is given to secure
the payment of any debt which conveys any real or personal property situated within this state
or any interest therein or any security agreement or financing statement provided for by the
Uniform Commercial Code, except a security agreement or a financing statement relating solely
to security interests in accounts, contract rights, or general intangibles, as such terms
are defined in the Uniform Commercial Code, and except for the re-recordation of corrected
mortgages, deeds, or instruments executed for the purpose of perfecting the title to real
or personal property, specifically, but not limited to, corrections of maturity dates thereof,
shall be received for record or for filing in the office of any probate judge of this state
unless the following privilege or license taxes shall have been paid upon such...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-22-2.htm - 16K - Match Info - Similar pages
45-36-252.06
Section 45-36-252.06 Bonds of the authority; obligations. (a) In addition to all other
powers now or hereafter granted by law, the authority shall have the following powers, together
with all powers incidental thereto or necessary to the discharge thereof in corporate form:
(1) To sell and issue bonds of the authority in order to provide funds for any corporate function,
use, or purpose, any such bonds to be payable solely out of one or more of the following:
a. Any or all proceeds or receipts from the privilege, license, or excise tax levied on the
sale, distribution, storage, use, or consumption of tobacco and certain tobacco products in
Jackson County by Section 45-36-247. b. Any or all proceeds from any tax received by
the Jackson County Commission which are required by law to be deposited to the credit of the
Jackson County Water Authority. c. The revenues derived from any water, sewer, or garbage
system or facility of the authority. (2) To pledge for payment of any bonds issued...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-36-252.06.htm - 13K - Match Info - Similar pages
37-11A-1
Section 37-11A-1 Execution and text of compact. The Governor, on behalf of this state,
shall execute a compact, in substantially the following form, with the State of Mississippi,
and the Legislature approves and ratifies the compact in the form substantially as follows:
Northeast Mississippi - Northwest Alabama Railroad Authority Compact. The contracting states
solemnly agree: Article I. The purpose of this compact is to promote and develop trade, commerce,
industry, and employment opportunities for the public good and welfare in northeast Mississippi
and northwest Alabama through the establishment of a joint interstate authority to acquire
certain railroad properties and facilities which the operator thereof has notified the Interstate
Commerce Commission of an intention to abandon and which are located in any of Franklin, Marion,
or Winston Counties, Alabama or in Alcorn or Tishomingo Counties, Mississippi. Article II.
This compact shall become effective immediately as to the State...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-11A-1.htm - 33K - Match Info - Similar pages
27-41-29
Section 27-41-29 Particular investments - Bonds, etc., secured by mortgages or deeds
of trust on real property, etc., generally. An insurer may invest in: (1) Bonds, notes, or
other evidences of indebtedness which are secured by a first mortgage lien or deed of trust
upon unencumbered improved real property located in the United States or Canada, including
leasehold estates in such real estate having an unexpired term (inclusive of the term or terms
which may be provided by options of renewal) of not less than 10 years beyond the final maturity
of the loan. Unless guaranteed or insured by the Administrator of Veterans Affairs, the Secretary
of Housing and Urban Development, or by a mortgage guaranty insurance policy issued by an
insurance company licensed and authorized to do business by and in the State of Alabama, no
such mortgage loan or loans when made shall exceed 75 percent of the fair value of the real
estate or leasehold, except that loans made on single family dwellings shall...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-41-29.htm - 3K - Match Info - Similar pages
11-62-8
Section 11-62-8 Bonds and notes generally - Form, terms, denominations, etc.; execution,
sale, delivery, redemption, etc.; security for payment of principal or interest; remedies
upon default; liability of municipalities, board, etc., thereupon. (a) Any authority shall
have power to issue from time to time its bonds and notes in such principal amount as its
board shall determine to be necessary to provide sufficient funds for achieving any of its
corporate purposes, including the payment of interest on any of its notes and bonds, the establishment
of reserves to secure any such notes and bonds and all other expenditures of such authority
incident to and necessary or convenient to carry out its corporate purposes and powers. Any
authority shall also have the power to issue from time to time notes to renew notes and bonds
to pay notes, including interest thereon and, whenever it deems refunding expedient, to refund
any bonds by the issuance of new bonds, whether the bonds to be refunded...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-62-8.htm - 12K - Match Info - Similar pages
35-10-22
Section 35-10-22 Partial payments - When entered on margin of record. A mortgagee or
the assignee or transferee of a debt secured by mortgage, or trustee or his assignee or transferee
or cestui que trust of a deed of trust to secure a debt, who has received partial payment,
if the mortgage or deed of trust is of record, must, upon request in writing to enter the
date and amount of such partial payment by the mortgagor, or by a judgment creditor, or other
creditor of the mortgagor having a lien or claim on the property mortgaged, or by a purchaser
from the mortgagor, or upon the written request of the debtor in a deed of trust, enter on
the margin of the record of the mortgage or deed of trust the date and amount of such partial
payment or payments; a mortgagee or the assignee or transferee of a debt secured by mortgage,
or trustee or his assignee or transferee or cestui que trust of a deed of trust to secure
a debt, if the mortgage or deed of trust is of record, must, upon request in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-10-22.htm - 1K - Match Info - Similar pages
11-50B-9
Section 11-50B-9 Funding. (a) In order to provide funds for payment of the costs of
the acquisition, establishment, purchase, construction, maintenance, enlargement, extension,
lease, or improvement of cable systems, telecommunications equipment, and telecommunications
systems, public providers, within the limitations applicable under the Constitution of Alabama
of 1901, may become indebted in an amount not to exceed the costs and the costs incurred in
issuing the indebtedness and, in evidence thereof, issue the public provider's bonds or other
evidences of indebtedness, as the case may be, in the manner, tenor, and form as may be otherwise
provided by law, for the issuance of the public provider's warrants, bonds, or other evidences
of indebtedness generally. The warrants, bonds, or other evidences of indebtedness issued
pursuant to this section shall be payable solely from the revenues derived or to be
derived from the operation of the systems or equipment and shall not have a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50B-9.htm - 3K - Match Info - Similar pages
19-3-120
Section 19-3-120 Classes of authorized investments; repeal of conflicting statutes.
(a) Unless otherwise authorized or directed by the court having jurisdiction thereof, or by
the will, trust agreement or other document which is the source of authority, a trustee, executor,
administrator, guardian or one acting in any other fiduciary capacity, other than as a trustee
governed by the Alabama Uniform Trust Code, with the exercise of reasonable business prudence,
in addition to any other investments now permitted by law, may invest funds in securities
or investments which, at the time of the making or purchase thereof, are included in one or
more of the following classes: (1) Bonds or other interest-bearing obligations of the United
States of America, or payment of which the United States of America has guaranteed as to both
principal and interest. (2) Bonds issued by the Federal Land Bank, under the act of Congress
of the United States of America, designated as "the Federal Farm Loan...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-3-120.htm - 5K - Match Info - Similar pages
45-16A-20.02
Section 45-16A-20.02 Funding. (a) In order to provide funds for payment of the costs
of the acquisition, establishment, purchase, construction, maintenance, enlargement, extension,
lease, or improvement of cable systems, telecommunications equipment, and telecommunications
systems, the City of Elba and municipal instrumentalities of the City of Elba, within the
limitations applicable under the Constitution of Alabama of 1901, may become indebted in an
amount not to exceed the costs and the costs incurred in issuing the indebtedness, and in
evidence thereof issue the municipality's or municipal instrumentality's warrants, bonds,
or other evidences of indebtedness, as the case may be, in the manner, tenor, and form as
may be otherwise provided by law, for the issuance of the municipality's or municipal instrumentality's
warrants, bonds, or other evidences of indebtedness generally. The warrants, bonds, or other
evidences of indebtedness issued pursuant to this section shall be payable...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-16A-20.02.htm - 3K - Match Info - Similar pages
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