40-27-1
Section 40-27-1 Compact adopted; terms. The following Multistate Tax Compact is hereby approved, adopted and enacted into law by the State of Alabama: Multistate Tax Compact Article I. Purposes. The purposes of this compact are to: 1. Facilitate proper determination of state and local tax liability of multistate taxpayers, including the equitable apportionment of tax bases and settlement of apportionment disputes. 2. Promote uniformity or compatibility in significant components of tax systems. 3. Facilitate taxpayer convenience and compliance in the filing of tax returns and in other phases of tax administration. 4. Avoid duplicative taxation. Article II. Definitions. As used in this compact: 1. "State" means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or any territory or possession of the United States. 2. "Subdivision" means any governmental unit or special district of a state. 3. "Taxpayer" means any corporation, partnership, firm,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-27-1.htm - 42K - Match Info - Similar pages
35-8A-218
Section 35-8A-218 Termination of condominium. (a) Except in the case of a taking of all the units by eminent domain specified in Section 35-8A-107, a condominium may be terminated only by agreement of unit owners of units to which at least 80 percent of the votes in the association are allocated, or any larger percentage the declaration specifies. The declaration may specify a smaller percentage only if all of the units in the condominium are restricted exclusively to nonresidential uses. (b) An agreement to terminate must be evidenced by the execution of a termination agreement, or ratifications thereof, in the same manner as a deed, by the requisite number of unit owners. The termination agreement must specify a date after which the agreement will be void unless it is recorded before that date. A termination agreement and all ratifications thereof must be recorded in every county in which a portion of the condominium is situated, and is effective only upon recordation. (c) In the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-8A-218.htm - 6K - Match Info - Similar pages
35-4-431
Section 35-4-431 Definitions. (a) As used in this article, the following words have the following meanings: (1) ASSOCIATION. An association or unit owners' association, as defined in Section 35-8A-103 of the Alabama Uniform Condominium Act of 1991; an association as defined in Section 35-8-2 of the Condominium Ownership Act; or a nonprofit or cooperative membership organization composed exclusively of owners of mobile homes, manufactured housing, time-shares, camping resort interests, or other interests in real property that is responsible for the maintenance, improvements, services, or expenses related to real property that is owned, used, or enjoyed in common by the members. (2) PAYEE. The person or entity who claims the right to receive or collect a private transfer fee payable under a private transfer obligation. A payee may or may not have a pecuniary interest in the private transfer fee obligation. (3) PRIVATE TRANSFER FEE. A fee or charge payable upon the transfer of an interest...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-4-431.htm - 5K - Match Info - Similar pages
35-8A-305
Section 35-8A-305 Termination of contracts and leases of declarant. If entered into before the board elected by the unit owners pursuant to Section 35-8A-303(f) takes office: (i) any management contract, employment contract, or lease of recreational or parking areas or facilities; (ii) any other contract or lease between the association and a declarant or an affiliate of a declarant; or (iii) any contract or lease that is not bona fide or was unconscionable to the unit owners at the time entered into under the circumstances then prevailing, may be terminated without penalty by the association during the current term of the contract or lease after the board elected by the unit owners pursuant to Section 35-8A-303(f) takes office upon not less than 90 days' notice to the other party. This section does not apply to any lease the termination of which would terminate the condominium or reduce its size, unless the real estate subject to that lease was included in the condominium for the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-8A-305.htm - 1K - Match Info - Similar pages
35-8A-208
Section 35-8A-208 Limited common elements. (a) Except for the limited common elements described in Section 35-8A-202(2) and (4), the declaration must specify to which unit or units each limited common element is allocated. An allocation may not be altered without the consent of the association and the unit owners whose units are affected by the amendment. (b) Except as the declaration otherwise provides, a limited common element may be reallocated by an amendment to the declaration executed by the unit owners between or among whose units the reallocation is made. The association shall prepare, execute, and record the amendment which is subject to Section 35-8A-217(e), and the cost shall be borne by the unit owners executing the amendment. The amendment shall be recorded and indexed in the names of the unit owners executing the amendment, the condominium, and the association. (c) A common element not previously allocated as a limited common element may not be so allocated except...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-8A-208.htm - 1K - Match Info - Similar pages
35-8-2
Section 35-8-2 Definitions. For the purposes of this chapter, the following terms shall have the meanings respectively ascribed to them by this section: (1) ASSOCIATION. The entity responsible for the administration and management of the condominium property. (2) COMMON ELEMENTS. A part or parts of the condominium property as set forth in the declaration in which all of the unit owners have an undivided interest. (3) COMMON EXPENSES. The expenses arising out of ownership of common elements for which the unit owners are liable to the association in accordance with the declaration and bylaws. (4) COMMON SURPLUS. The excess of all receipts of the association arising out of ownership of common elements over the amount of common expenses. (5) CONDOMINIUM. The form of ownership of real or personal property or a combination thereof under a declaration providing for ownership of units of the property by one or more owners. Such units may consist of private elements together with an undivided...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-8-2.htm - 2K - Match Info - Similar pages
35-8A-312
Section 35-8A-312 Conveyance or encumbrance of common elements. (a) In a condominium portions of the common elements may be conveyed or subjected to a security interest by the association if persons entitled to cast at least 80 percent of the votes in the association, including 80 percent of the votes allocated to units not owned by a declarant, or any larger percentage the declaration specifies, agree to that action; but all the owners of units to which any limited common element is allocated must agree in order to convey that limited common element or subject it to a security interest. The declaration may specify a smaller percentage only if all of the units are restricted exclusively to nonresidential uses. Proceeds of the sale or loan are an asset of the association. (b) An agreement to convey common elements in a condominium or subject them to a security interest must be evidenced by the execution of an agreement, or ratifications thereof, in the same manner as a deed, by the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-8A-312.htm - 2K - Match Info - Similar pages
35-8A-207
Section 35-8A-207 Allocation of common element interests, votes, and common expense liabilities. (a) The declaration must allocate to each unit in a condominium a fraction or percentage of undivided interests in the common elements and in the common expenses of the association specified in section 35-8A-315(a), and a portion of the votes in the association, to each unit and state the formulas used to establish allocations of interest. Those allocations may not discriminate in favor of units owned by the declarant or an affiliate of the declarant. (b) If units may be added to or withdrawn from the condominium, the declaration must state the formulas to be used to reallocate the allocated interests among all units included in the condominium after the addition or withdrawal. (c) The declaration may provide: (i) that different allocations of votes shall be made to the units on particular matters specified in the declaration; (ii) for cumulative voting only for the purpose of electing...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-8A-207.htm - 2K - Match Info - Similar pages
35-8A-205
Section 35-8A-205 Contents of declaration. (a) The declaration for a condominium must contain: (1) The name of the condominium, which must include the word "condominium" or be followed by the words "a condominium," and the name of the association; (2) The name of every county in which any part of the condominium is situated; (3) A legally sufficient description of the real estate included in the condominium; (4) A statement of the maximum number of units which the declarant reserves the right to create; (5) A description of the boundaries of each unit created by the declaration, including the unit's identifying number; (6) A description of any limited common elements, other than those specified in Section 35-8A-202(2) and (4), as provided in Section 35-8A-209(b)(10); (7) A description of any common elements (except real estate subject to development rights) which may be allocated subsequently as limited common elements, other than limited common elements specified in Section...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-8A-205.htm - 3K - Match Info - Similar pages
35-8A-212
Section 35-8A-212 Relocation of boundaries between adjoining units. (a) Subject to the provisions of the declaration and other provisions of law, the boundaries between adjoining units may be relocated by an amendment to the declaration upon application to the association by the owners of those units. If the owners of the adjoining units have specified a reallocation between their units of their allocated interests, the application must state the proposed reallocations. Unless the board determines, within 30 days, that the reallocations are unreasonable, the association shall prepare an amendment that identifies the units involved, states the reallocations, is executed by those unit owners, contains words of conveyance between them, and upon recordation, is indexed in the name of the grantor, grantee, and shall be recorded as an amendment to the declaration. (b) The association shall prepare and record plats or plans necessary to show the altered boundaries between adjoining units, and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-8A-212.htm - 1K - Match Info - Similar pages
|