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26-2A-155
Section 26-2A-155 Preservation of estate plan; right to examine. In (i) investing the estate,
(ii) selecting assets of the estate for distribution under subsections (a) and (b) of Section
26-2A-153, and (iii) utilizing powers of revocation or withdrawal available for the support
of the protected person and exercisable by the conservator or the court, the conservator and
the court shall take into account any estate plan of the protected person known to them, including
a will, any revocable trust of which the person is settlor, and any contract, transfer, or
joint ownership arrangement originated by the protected person with provisions for payment
or transfer of benefits or interests at the person's death to another or others. The conservator
may examine the will of the protected person. (Acts 1987, No. 87-590, p. 975, ยง2-326.)...
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5-17-15
Section 5-17-15 Deposits for minor or trust beneficiaries; deposits in names of two persons.
(a) A minor, in his or her own name, may make a general or special deposit in any credit union.
The deposit shall be paid only to the minor, or upon his or her order, and not to the parents
or guardians of the minor, and the payment shall be valid as against the minor child and his
or her parents or guardian. (b) Shares may be issued and withdrawn and deposits received and
paid out in the name of a minor or in trust in such manner as the bylaws may provide. The
name of the beneficiary must be disclosed to the credit union. If no other notice of the existence
and terms of such trust has been given in writing to the corporation, such shares or deposits
may, upon the death of the trustee, be transferred to or withdrawn by the person who was named
by the trustee as the beneficiary or by his or her legal representative, and such transfer
or withdrawal shall release the corporation from liability to...
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26-2A-148
Section 26-2A-148 Conservators; title by appointment. (a) The appointment of a conservator
vests in the conservator title as trustee to all property, or to the part thereof specified
in the order, of the protected person, presently held or thereafter acquired, including title
to any property theretofore held for the protected person. Appointment of a conservator does
not terminate a custodianship created under a Uniform Gifts to Minors Act or a Uniform Transfers
to Minors Act, or a valid durable power of attorney, except on order of the court. An order
specifying that only a part of the property of the protected person vests in the conservator
creates a limited conservatorship. (b) Except as otherwise permitted herein, the interest
of the protected person in property vested in a conservator by this section is not transferable
or assignable by the protected person. An attempted transfer or assignment by the protected
person, though ineffective to affect property rights, may generate a...
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38-9B-2
CO-TRUSTEE. Any person named by the settlor to work with the trustee in providing benefits
to a life beneficiary, except neither a contributor nor a contributor's spouse shall be the
co-trustee if the contributor or the contributor's spouse is the life beneficiary. (9) DEPARTMENT.
The Alabama Department of Mental Health. (10) IMPAIRMENT. A mental or physical disability
that substantially limits one or more major life activities, whether the impairment is congenital
or acquired by accident, injury, age, or disease, and where the impairment is verified
by medical findings that meet the medical-vocational requirements for a finding of disability
under Section 223(d) of the Social Security Act, 42 U.S.C. Section 423(d), or under Section
1614 of the Social Security Act, 42 U.S.C. Section 1382c. (11) LIFE BENEFICIARY. A beneficiary
designated by a settlor. (12) NET INCOME. The earnings received on investments less expenses
and fees for administration. (13) REQUESTING PARTY. The party...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/38-9B-2.htm - 3K - Match Info - Similar pages
5-7A-43
Section 5-7A-43 Continuation of identity, obligations, etc., of state bank. Upon such conversion,
merger or consolidation becoming effective, the national bank shall be deemed to be a continuation
of the entity and of the identity of the state bank and all the rights, obligations and relations
of the state bank to or in respect to any person, estate, creditor, depositor, trustee or
beneficiary of any trust and in, or in respect to, any executorship or trusteeship or other
trust or fiduciary function shall remain unimpaired. The national bank, as of the time of
the taking effect of such conversion, merger or consolidation shall succeed to all such rights,
obligations, relations and trusts and the duties and liabilities connected therewith and shall
execute and perform each and every such trust or relation in the same manner as if the national
bank had itself assumed the trust or relation, including the obligations and liabilities connected
therewith. If the state bank is acting as...
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7-9A-316
Section 7-9A-316 Effect of change in governing law. (a) General rule: Effect on perfection
of change in governing law. A security interest perfected pursuant to the law of the jurisdiction
designated in Section 7-9A-301(1) or 7-9A-305(c) remains perfected until the earliest of:
(1) the time perfection would have ceased under the law of that jurisdiction; (2) the expiration
of four months after a change of the debtor's location to another jurisdiction; or (3) the
expiration of one year after a transfer of collateral to a person that thereby becomes a debtor
and is located in another jurisdiction. (b) Security interest perfected or unperfected under
law of new jurisdiction. If a security interest described in subsection (a) becomes perfected
under the law of the other jurisdiction before the earliest time or event described in that
subsection, it remains perfected thereafter. If the security interest does not become perfected
under the law of the other jurisdiction before the earliest...
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19-3D-7
Section 19-3D-7 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION,
EFFECTIVE JANUARY 1, 2019. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. NOTICE; EXERCISE OF
DECANTING POWER. (a) In this section, a notice period begins on the day notice is given under
subsection (c) and ends 59 days after the day notice is given. (b) Except as otherwise provided
in this chapter, an authorized fiduciary may exercise the decanting power without the consent
of any person and without court approval. (c) Except as otherwise provided in subsection (f),
an authorized fiduciary shall not exercise the decanting power prior to 60 days after giving
record notice of the intended exercise of the decanting power to: (1) each settlor of the
first trust, if living or then in existence; (2) each qualified beneficiary of the first trust;
(3) each holder of a presently exercisable power of appointment over any part or all of the
first trust; (4) each person that currently has the right to...
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20-2-190
Section 20-2-190 Penalties; sale of ephedrine, etc.; Alabama Drug Abuse Task Force. (a) Any
person who manufactures, sells, transfers, receives, or possesses a listed precursor chemical
violates this article if the person: (1) Knowingly fails to comply with the reporting requirements
of this article; (2) Knowingly makes a false statement in a report or record required by this
article or the rules adopted thereunder; (3) Is required by this article to have a listed
precursor chemical license or permit, and is a person as defined by this article, and knowingly
or deliberately fails to obtain such a license or permit. An offense under this subsection
shall constitute a Class C felony. (b) Notwithstanding the provisions of Section 20-2-188,
a person who possesses, sells, transfers, or otherwise furnishes or attempts to solicit another
or conspires to possess, sell, transfer, or otherwise furnish a listed precursor chemical
or a product containing a precursor chemical or ephedrine or...
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40-23-1
F.O.B. point and regardless of who selects the method of transportation, and regardless of
by whom or the method by which freight, postage, or other transportation charge is paid. Provided
further that, where billed as a separate item to and paid by the purchaser, the freight, postage,
or other transportation charge paid to a common carrier or the U.S. Postal Service is not
a part of the selling price. (6) GROSS PROCEEDS OF SALES. The value proceeding or accruing
from the sale of tangible personal property, and including the proceeds from the sale
of any property handled on consignment by the taxpayer, including merchandise of any kind
and character without any deduction on account of the cost of the property sold, the cost
of the materials used, labor or service cost, interest paid, any consumer excise taxes that
may be included within the sales price of the property sold, or any other expenses whatsoever,
and without any deductions on account of losses; provided, that cash...
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7-9A-203
is not necessary to make a security interest in the property enforceable. (f) Proceeds and
supporting obligations. The attachment of a security interest in collateral gives the secured
party the rights to proceeds provided by Section 7-9A-315 and is also attachment of a security
interest in a supporting obligation for the collateral. (g) Lien securing right to payment.
The attachment of a security interest in a right to payment or performance secured by a security
interest or other lien on personal or real property is also attachment of a security
interest in the security interest, mortgage, or other lien. (h) Security entitlement carried
in securities account. The attachment of a security interest in a securities account is also
attachment of a security interest in the security entitlements carried in the securities account.
(i) Commodity contracts carried in commodity account. The attachment of a security interest
in a commodity account is also attachment of a security interest in...
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