8-6-71
Section 8-6-71 (Repealed effective January 1, 1997) Definitions. For the purposes of this article, unless the context otherwise requires, the following terms shall have the meanings respectively ascribed to them by this section: Assignment. Such term includes any written stock power, bond power, bill of sale, deed, declaration of trust, or other instrument of transfer. Claim of beneficial interest. Such term includes a claim of any interest by a decedent's legatee, distributee, heir or creditor, a beneficiary under a trust, a ward, a beneficial owner of a security registered in the name of a nominee or a minor owner of a security registered in the name of a custodian, or a claim of any similar interest whether the claim is asserted by the claimant, a fiduciary, or by any other authorized person on his behalf and includes a claim that the transfer would be in breach of fiduciary duties. Corporation. A private or public corporation, association, or trust issuing a security. Fiduciary. An...
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12-17-227.6
Section 12-17-227.6 (Effective November 8, 2016, subject to contingencies) Payments from plan; optional allowances; replacement beneficiaries. (a) Should a member cease to be a district attorney except by death or by retirement under the provisions of this division, the contributions standing to the credit of his or her individual account in the fund shall be paid to him or her upon demand and, in addition to such payment, there shall be paid five-tenths of the interest accumulations standing to the credit of his or her individual account if he or she shall have not less than three but less than 16 years of membership service, six-tenths of such interest accumulations if he or she shall have not less than 16 but less than 21 years of membership service, seven-tenths of such interest accumulations if he or she shall have not less than 21 but less than 26 years of membership service and eight-tenths of such interest accumulations if he or she shall have not less than 26 years of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/12-17-227.6.htm - 5K - Match Info - Similar pages
12-18-156
Section 12-18-156 Payments from plan; optional allowances; replacement beneficiaries. (a) Should a member cease to be a judge or clerk except by death or by retirement under the provisions of this article, the contributions standing to the credit of his or her individual account in the fund shall be paid to him or her upon demand and, in addition to such payment, there shall be paid five-tenths of the interest accumulations standing to the credit of his or her individual account if he or she shall have not less than three but less than 16 years of membership service, six-tenths of such interest accumulations if he or she shall have not less than 16 but less than 21 years of membership service, seven-tenths of such interest accumulations if he or she shall have not less than 21 but less than 26 years of membership service and eight-tenths of such interest accumulations if he or she shall have not less than 26 years of membership service. (b) In case of the death of a member eligible for...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/12-18-156.htm - 6K - Match Info - Similar pages
19-3B-505
Section 19-3B-505 Creditor's claim against settlor. (a) Whether or not the terms of a trust contain a spendthrift provision, the following rules apply: (1) During the lifetime of the settlor, the property of a revocable trust is subject to claims of the settlor's creditors. (2) With respect to an irrevocable trust, a creditor or assignee of the settlor may reach the maximum amount that can be distributed to or for the settlor's benefit. If a trust has more than one settlor, then the amount the creditor or assignee of a particular settlor may reach may not exceed the settlor's interest in the portion of the trust attributable to that settlor's contribution. (3) After the death of a settlor, and subject to the settlor's right to direct the source from which liabilities will be paid, the property of a trust that was revocable immediately prior to the settlor's death is subject to claims of the settlor's creditors, costs of administration of the settlor's estate, the expenses of the...
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5-12A-4
Section 5-12A-4 Common trust fund plan. Each common trust fund shall be established and maintained in accordance with a written plan (referred to herein as the plan) approved by resolution of the board of directors of the trust institution and approved in writing by competent legal counsel. The plan shall provide that the common trust fund shall be administered under the laws of this state and of the United States and in conformity with the rules and regulations promulgated from time to time under authority of such laws and shall contain full and detailed provisions, not inconsistent with the provisions of this chapter, as to the manner in which the common trust fund is to be operated, the investment powers with respect to the common trust fund, the allocation and apportionment of income, profits and losses, the terms and conditions governing the admission or withdrawal of investments or participations in the common trust fund, the auditing and settlement of accounts of the trust...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-12A-4.htm - 2K - Match Info - Similar pages
8-7A-2
Section 8-7A-2 Definitions. For purposes of this chapter, the following terms shall have the following meanings: (1) AGENT or AUTHORIZED DELEGATE. Any person designated or employed by a licensee under this chapter to provide monetary transmission services on behalf of the licensee. (2) APPLICANT. Any person that files an application for a license under this chapter. (3) BANK. An institution organized under federal or state law which meets any of the following requirements: a. Accepts demand deposits or deposits that the depositor may use for payment to third parties and engages in the business of making loans. b. Engages in credit card operations and maintains only one office that accepts deposits, does not accept demand deposits or deposits that a depositor may use for payments to third parties, does not accept a savings or time deposit less than one hundred thousand dollars ($100,000), and does not engage in the business of making commercial loans. c. Is a trust company subject to...
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9-15-8
Section 9-15-8 Filing of lists of used and unused lands by state departments and institutions; filing of lists of improvements made on said lands; disposition of lists. It shall be the duty of each state department or institution of the State of Alabama which holds the legal title to or any interest in any lands in the State of Alabama and any department charged by law with the administration, control or management of any state department or institutional lands to file in the office of the Land Agent within the Department of Conservation and Natural Resources a complete list of all lands of whatsoever kind to which it holds the legal title or in which it claims any interest. If any land is held by any person, firm, corporation, department or institution of the State of Alabama for the use and benefit of any institution or department of the State of Alabama, such land shall also be included in such list to be filed in the office of the Land Agent, Department of Conservation and Natural...
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16-25-14
Section 16-25-14 Retirement of members; benefits generally. (a)(1) Any Tier I plan member who withdraws from service upon or after attainment of age 60 and any Tier II plan member who withdraws from service upon or after attainment of age 62, or in the case of a Tier II plan member who is a correctional officer, firefighter, or law enforcement officer as defined in Section 36-27-59, who withdraws from service upon or after attainment of age 56 with at least ten years of creditable service as a correctional officer, firefighter, or law enforcement officer may retire upon written application to the Board of Control setting forth at what time, not less than 30 days nor more than 90 days subsequent to the execution and filing thereof, he or she desires to be retired; provided, that any such member who became a member on or after October 1, 1963, shall have completed 10 or more years of creditable service. (2) Any Tier I plan member who has attained age 60 and any Tier II plan member who...
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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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27-17A-2
Section 27-17A-2 Definitions. As used in this chapter, the following terms shall have the following meanings: (1) ALTERNATIVE CONTAINER. A nonmetal receptacle or enclosure, without ornamentation or a fixed interior lining, which is designed for the encasement of human remains and which is made of cardboard, pressed-wood, composition materials (with or without an outside covering), or pouches of canvas or other materials. (2) ARRANGEMENT CONFERENCE. The meeting occurring either at need or preneed between the seller and the purchaser during which funeral or cemetery merchandise and services are discussed. (3) ARRANGEMENT CONFERENCE FEE. The charge to the purchaser in conjunction with the arrangement conference. (4) AT NEED. At the time of death, or immediately following death. (5) AUTHORIZING AGENT. One who is lawfully authorized to control the final disposition of human remains. (6) BELOW-GROUND CRYPT. A preplaced enclosed chamber, which is usually constructed of reinforced concrete,...
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