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...
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2-5A-30
Section 2-5A-30 Definitions. Whenever used in this article, the following terms shall have the following meanings, respectively, unless the context clearly indicates otherwise: (1) BONDS. Those bonds, including the refunding bonds, issued under and pursuant to the provisions of this article. (2) GOVERNMENT SECURITIES. Any bonds or other obligations which as to principal and interest constitute direct obligations of, or are unconditionally guaranteed by, the United States of America, including obligations of any federal agency to the extent such obligations are unconditionally guaranteed by the United States of America and any certificates or any other evidences of an ownership interest in such obligations of, or unconditionally guaranteed by, the United States of America or in specified portions thereof, which may consist of the principal thereof or the interest thereon. (3) PERMITTED INVESTMENTS. (i) Government securities; (ii) bonds, debentures, notes or other evidences of...
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22-27-60
Section 22-27-60 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2019 REGULAR SESSION, EFFECTIVE SEPTEMBER 1, 2019. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. As used in this article, the following terms shall have the following meanings: (1) LENDER. A person who holds a mortgage, lien, deed of trust, or other security interest in property. The term includes an assignee, receiver, or other transferee of the interest. (2) RESIDENTIAL REAL PROPERTY. Any of the following: a. A single-family house. b. A duplex, triplex, or quadraplex. c. A unit in a multi-unit residential structure in which title to an individual unit is transferred to the owner of the unit under a condominium or cooperative system. (Act 2019-460, ยง1.)...
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35-10-26
Section 35-10-26 Title revested upon payment of debt. The payment or satisfaction of the real property mortgage debt divests the title passing by the mortgage. "Payment or satisfaction of the real property mortgage debt" shall not occur until there is no outstanding indebtedness or other obligation secured by the mortgage, and no commitment or agreement by the mortgagee to make advances, incur obligations or otherwise give value (collectively referred to as "extend value"), under any agreement, including, without limitation, agreements providing for future advances, open end, revolving or other lines of credit, or letters of credit. Except as otherwise specifically provided to the contrary in the Alabama Residential Mortgage Satisfaction Act, upon the written request to satisfy a mortgage signed by the mortgagors and by all other persons who have a right to require the mortgagee to extend value or signed by other authorized representatives on behalf of the mortgagors and such other...
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35-8A-105
Section 35-8A-105 Separate titles and taxation. (a) If there is any unit owner other than a declarant, each unit that has been created, together with its interest in the common elements, constitutes for all purposes a separate parcel of real estate. (b) If there is any unit owner other than a declarant, each unit must be separately taxed and assessed, and no separate tax or assessment may be rendered against any common elements for which a declarant has reserved no development rights. (c) Any portion of the common elements for which the declarant has reserved any development right may be separately taxed and assessed against the declarant, and, if separately taxed and assessed, the declarant alone would be liable for payment of those taxes. (d) If there is no unit owner other than a declarant, the real estate comprising the condominium may be taxed and assessed in any manner provided by law. (e) All laws authorizing exemptions or deductions from taxation shall be applicable to each...
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35-8A-316
Section 35-8A-316 Lien for assessments. (a) The association has a lien on a unit for any assessment and any other moneys due the association for special assessments or services or charges, such as water or repairs, levied against that unit or fines imposed against its unit owner from the time the assessment or fine becomes due. The association's lien may be foreclosed in like manner as a mortgage on real estate provided the declaration is in conformity with Article 1A of Chapter 10 of this title and subject to the rights under Article 14A of Chapter 5 of Title 6. The association shall send reasonable advance notice of its proposed action to the unit owner and all lienholders of record of the unit. Unless the declaration otherwise provides, fees, charges, late charges, fines, and interest charged pursuant to Section 35-8A-302(a)(10), (11), and (12) are enforceable as assessments under this section. If an assessment is payable in installments, the full amount of the assessment is a lien...
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45-2A-61.03
Section 45-2A-61.03 Bond issue authorized. (a) In payment for the purchase, lease, construction, acquisition, extension, or maintenance of such television cable system, the utilities board may issue its bonds in the manner provided by law. (b) Such utilities board, in order to secure the prompt and faithful payment of the principal and interest of all debts, bonds, or other evidences of indebtedness incurred or issued by it for the construction, acquisition, lease, extension, or maintenance of a television cable system may execute a mortgage or deed of trust upon any or all of such system and all property used in connection therewith, including the franchise or any part thereof. (c) Such mortgage or deed of trust may contain such terms, conditions, covenants, and warranties for the protection of the utilities board and holders of such bonds or securities issued by such utilities board as may be determined and agreed upon by the governing body of the utilities board and persons, firms,...
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45-2A-80.03
Section 45-2A-80.03 Bond issue authorized. (a) In payment for the purchase, lease, construction, acquisition, extension, or maintenance of such television cable system, the municipal corporation may issue its bonds in the manner provided by law. (b) Such municipal corporation, in order to secure the prompt and faithful payment of the principal and interest of all debts, bonds, or other evidences of indebtedness incurred or issued by it for the construction, acquisition, lease, extension, or maintenance of a television cable system may execute a mortgage or deed of trust upon any or all of such system and all property used in connection therewith, including the franchise or any part thereof. (c) Such mortgage or deed of trust may contain such terms, conditions, covenants, and warranties for the protection of the utilities board and holders of such bonds or securities issued by such municipal corporation as may be determined and agreed upon by the governing body of the municipal...
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45-40A-10.04
Section 45-40A-10.04 Funding. (a) In payment for the purchase, construction, acquisition, extension, or maintenance of the television cable system, the municipal corporation may issue its bonds in the manner provided by law. (b) The municipal corporation, in order to secure the prompt and faithful payment of the principal and interest of all debts, bonds, or other evidences of indebtedness incurred or issued by it for the construction, acquisition, extension, or maintenance of a television cable system, may execute a mortgage or deed of trust upon any or all of the system and all property used in connection therewith, including the franchise or any part thereof. (c) The mortgage or deed of trust may contain the terms, conditions, covenants, and warranties for the protection of the municipal corporation and holders of the bonds or securities issued by the municipal corporation as may be determined and agreed upon by the governing body of the municipal corporation and persons, firms, or...
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45-48A-61.02
Section 45-48A-61.02 Bond issue authorized. (a) In payment for the purchase, lease, construction, acquisition, extension, or maintenance of the cable television system, the municipal corporation may issue its bonds in the manner provided by law. (b) The municipal corporation, in order to secure the prompt and faithful payment of the principal and interest of all debts, bonds, or other evidences of indebtedness incurred or issued by it for the construction, acquisition, lease, extension, or maintenance of a television cable system may execute a mortgage or deed of trust upon any or all of the system and all property used in the operation, including the franchise in whole or in part. (c) The mortgage or deed of trust may contain terms, conditions, covenants, and warranties for the protection of the bond holders or securities issued by the municipal corporation cable television system, as determined and agreed upon from time to time by the governing body of the municipal corporation and...
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