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7-2-210
Section 7-2-210 Delegation of performance; assignment of rights. (1) A party may perform his
duty through a delegate unless otherwise agreed or unless the other party has a substantial
interest in having his original promisor perform or control the acts required by the contract.
No delegation of performance relieves the party delegating of any duty to perform or any liability
for breach. (2) Except as otherwise provided in Section 7-9A-406, unless otherwise agreed,
all rights of either seller or buyer can be assigned except where the assignment would materially
change the duty of the other party, or increase materially the burden or risk imposed on him
by his contract, or impair materially his chance of obtaining return performance. A right
to damages for breach of the whole contract or a right arising out of the assignor's due performance
of his entire obligation can be assigned despite agreement otherwise. (3) The creation, attachment,
perfection, or enforcement of a security...
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7-9A-408
Section 7-9A-408 Restrictions on assignment of promissory notes, health-care-insurance receivables,
and certain general intangibles ineffective. (a) Term restricting assignment generally ineffective.
Except as otherwise provided in subsection (b), a term in a promissory note or in an agreement
between an account debtor and a debtor which relates to a health-care-insurance receivable
or a general intangible, including a contract, permit, license, or franchise, and which term
prohibits, restricts, or requires the consent of the person obligated on the promissory note
or the account debtor to, the assignment or transfer of, or creation, attachment, or perfection
of a security interest in, the promissory note, health-care-insurance receivable, or general
intangible, is ineffective to the extent that the term: (1) would impair the creation, attachment,
or perfection of a security interest; or (2) provides that the assignment or transfer or the
creation, attachment, or perfection of the...
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34-14A-18
Section 34-14A-18 Acquisition, etc., of real property; property acquisition fund. (a) The board
may acquire and hold, in its own name, real property by purchase, gift, lease, lease with
the option to purchase, or other lawful means, except eminent domain, which real property
is used by the board to carry out its responsibilities. The board may also transfer, sell,
convey, or cause to be conveyed real property and any improvements thereon, subject to the
requirements of this section. In purchasing any real property, maintaining it, or making improvements
thereto, the board may expend any funds contained in the Home Builders Property Acquisition
Fund established by subsection (b), and any obligations created in connection with the purchase
or improvement of the real property shall not create debts, obligations, or liabilities of
the State of Alabama. As used in this section, real property shall include land, lots, and
all things and interests, including leasehold interests, pertaining...
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5-7A-63
Section 5-7A-63 Resulting bank as continuation of savings institution. Except insofar as the
superintendent requires the converting savings institution to terminate certain activities
and dispose of certain assets in order to meet the requirements applicable to state chartered
banks, upon the conversion of any savings institution into a state chartered bank, the corporate
existence of such savings institution shall not terminate, but such resulting bank shall be
deemed to be a continuation of the savings institution so converted, and all property of the
converted savings institution including its rights, titles and interests in and to all property
of whatsoever kind, character or description, whether real, personal or mixed, and things
in action and every right, privilege, interest and asset of any conceivable value or benefit,
and all obligations, liabilities, charges, liens, encumbrances, judgments, and claims then
existing or pertaining to it or which would inure to or against it,...
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11-89-1
Section 11-89-1 Definitions. When used in this chapter, the following words and phrases shall
have the following meanings, respectively, unless the context clearly indicates otherwise:
(1) APPLICANT. A natural person who files a written application with the governing body of
any county or municipality or public corporation or cooperative in accordance with the provisions
of Section 11-89-3. (2) AUTHORIZING RESOLUTION. A resolution, adopted by a governing body
in accordance with the provisions of Section 11-89-3, that authorizes the incorporation of
a district. (3) AUTHORIZING SUBDIVISION. Any county or municipality or public corporation
or cooperative the governing body of which shall have adopted an authorizing resolution. (4)
BOARD. The board of directors of a district. (5) BONDS. Bonds, notes and certificates representing
an obligation to pay money. (6) CONCISE LEGAL DESCRIPTION. A reasonably concise description
of a particular geographic area which may be by metes and bounds or by...
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11-97-2
Section 11-97-2 Definitions. The following words and phrases used in this chapter, and others
evidently intended as the equivalent thereof, shall, in the absence of a clear implication
herein otherwise, be given the following respective interpretations herein: (1) APPLICANT.
A natural person who files a written application with the governing body of any county or
municipality in accordance with the provisions of Section 11-97-3 hereof. (2) AUTHORIZING
RESOLUTION. A resolution of ordinance adopted by the governing body of any county or municipality
in accordance with the provisions of Section 11-97-3 hereof, that authorizes the incorporation
of a corporation. (3) BOARD. The board of directors of a corporation. (4) BONDS. Bonds, notes,
or other obligations representing an obligation to pay money. (5) CORPORATION. Any public
corporation organized pursuant to the provisions of this chapter. (6) COSTS. As applied to
a facility or any portion thereof, shall include all or any part of the...
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2-3A-8
Section 2-3A-8 Bonds of the authority. (a) Source of payment. All bonds issued by the authority
shall be payable solely out of the revenues and other receipts of the authority as may be
designated in the proceedings of the board under which the bonds shall be authorized to be
issued. (b) Pledge of revenues and other security. The principal of and interest on any bonds
issued by the authority shall be secured by a pledge of the revenues and other receipts out
of which the same may be payable and may be secured by a trust indenture evidencing such pledge
or by a foreclosable mortgage and deed of trust conveying as security for such bonds all or
any part of the property of the authority from which the revenues so pledged may be derived.
The resolution under which the bonds are authorized to be issued or any such trust indenture
or mortgage may contain any agreements and provisions respecting the maintenance and insurance
of the property covered by such trust indenture or mortgage, the use...
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40-10-187
Section 40-10-187 Tax lien certificate. (a) The tax collecting official shall make, execute,
and deliver a tax lien certificate to each purchaser at a tax lien sale or auction or to each
assignee thereafter and shall collect from the purchaser or assignee a fee of five dollars
($5) for each tax lien certificate. The tax lien certificate shall be in a form provided by
the Department of Revenue and shall also include a certificate of redemption form as provided
in Section 40-10-194. (b) A tax lien certificate shall evidence the auction or sale or assignment
to the holder of the tax lien certificate of the delinquent and unpaid taxes, penalties, interest,
fees, and costs set forth therein and represented by the tax lien. (c) A tax lien certificate
shall bear the interest rate per annum as bid on by the purchaser at the tax lien auction
or as agreed upon by the purchaser at the tax lien sale, until the tax lien certificate is
redeemed as provided pursuant to Section 40-10-193. (d) The tax...
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41-14-35
Section 41-14-35 Security for deposits or accounts. (a) All public deposits, as defined in
Chapter 14A, of the state shall be secured to the extent and in the manner provided in Chapter
14A by any combination of the following securities and instruments, which may be issued and
held in either definitive or book-entry form: Direct obligations of the State of Alabama or
any other state of the United States; obligations of the United States government or that
are fully guaranteed as to payment of principal and interest by the United States; obligations
issued or guaranteed by any agency or instrumentality of the United States, including, without
limitation, the Government National Mortgage Association or any successor thereto, any Federal
Farm Credit Bank or any successor thereto, the Federal Housing Finance Board or any successor
thereto, the Federal Home Loan Bank System or any successor thereto, or any Federal Home Loan
Bank or any successor thereto; debt obligations, including, without...
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5-19-19
Section 5-19-19 Liabilities of creditor making excess finance charge; failure to obtain license;
damages for deliberate violation or reckless disregard; written notice of violations; oral
statements not admissible; fiduciary duty not created. (a)(1)(i) Any creditor charging a finance
charge in excess of the amount authorized herein, except as specified in subdivision (2),
shall forfeit debtor's actual economic damages not to exceed the finance charge, and shall
refund to the debtor such amount of the actual economic damages, which may be done by reducing
the amount of the debtor's obligation. If the debtor is entitled to a refund and the creditor
refuses to refund within a reasonable time, not to exceed 60 days, after written demand, including
the filing of a legal action, the debtor shall recover a penalty of five times the amount
of the actual economic damages not to exceed the finance charge, but in any event not less
than one hundred dollars ($100). Provided, however, as to any...
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