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36-25-1
Section 36-25-1 Definitions. Whenever used in this chapter, the following words and
terms shall have the following meanings: (1) BUSINESS. Any corporation, partnership, proprietorship,
firm, enterprise, franchise, association, organization, self-employed individual, or any other
legal entity. (2) BUSINESS WITH WHICH THE PERSON IS ASSOCIATED. Any business of which the
person or a member of his or her family is an officer, owner, partner, board of director member,
employee, or holder of more than five percent of the fair market value of the business. (3)
CANDIDATE. This term as used in this chapter shall have the same meaning ascribed to it in
Section 17-5-2. (4) COMMISSION. The State Ethics Commission. (5) COMPLAINT. Written
allegation or allegations that a violation of this chapter has occurred. (6) COMPLAINANT.
A person who alleges a violation or violations of this chapter by filing a complaint against
a respondent. (7) CONFIDENTIAL INFORMATION. A complaint filed pursuant to this...
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40-23-60
Section 40-23-60 Definitions. For the purpose of this article, the following terms shall
have the respective meanings ascribed to them in this section: (1) PERSON or COMPANY.
Any individual, firm, company, partnership, association, corporation, receiver or trustee,
or any other group or combination acting as a unit, and the plural as well as the singular
number, unless the intention to give a more limited meaning is disclosed by the context. (2)
DEPARTMENT. The Department of Revenue of the State of Alabama. (3) COMMISSIONER. The Commissioner
of Revenue of the State of Alabama. (4) WHOLESALE SALE or SALE AT WHOLESALE. Any one of the
following: a. A sale of tangible personal property by wholesaler to licensed retail merchants,
jobbers, dealers or other wholesalers for resale and does not include a sale by wholesalers
to users or consumers, not for resale. b. A sale of tangible personal property or products,
including iron ore, and including the furnished container and label of such...
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37-11A-1
Section 37-11A-1 Execution and text of compact. The Governor, on behalf of this state,
shall execute a compact, in substantially the following form, with the State of Mississippi,
and the Legislature approves and ratifies the compact in the form substantially as follows:
Northeast Mississippi - Northwest Alabama Railroad Authority Compact. The contracting states
solemnly agree: Article I. The purpose of this compact is to promote and develop trade, commerce,
industry, and employment opportunities for the public good and welfare in northeast Mississippi
and northwest Alabama through the establishment of a joint interstate authority to acquire
certain railroad properties and facilities which the operator thereof has notified the Interstate
Commerce Commission of an intention to abandon and which are located in any of Franklin, Marion,
or Winston Counties, Alabama or in Alcorn or Tishomingo Counties, Mississippi. Article II.
This compact shall become effective immediately as to the State...
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11-32-7
Section 11-32-7 Powers of authority. (a) The authority shall exercise powers and duties
necessary to the discharge of its powers and duties in corporate form as follows: (1) Have
succession by its corporate name in perpetuity subject to Section 11-32-20. (2) Sue
and be sued in its own name in civil suits and actions and defend suits against it. (3) Adopt
and make use of a corporate seal and alter the same at its pleasure. (4) Adopt and alter bylaws
for the regulation and conduct of its affairs and business. (5) Acquire, receive, take, by
purchase, gift, lease, devise, or otherwise, and hold property of every description, real,
personal, or mixed, whether located in one or more counties or municipalities and whether
located within or outside the authorizing county. (6) Make, enter into, and execute contracts,
agreements, leases, and other instruments and take other actions as may be necessary or convenient
to accomplish any purpose for which the authority was organized, or exercise any...
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45-8A-22.124
Section 45-8A-22.124 Eligible rollover distribution; direct rollover. (a) Rollovers
Generally. (1) Notwithstanding any provision of the plan to the contrary that would otherwise
limit a distributee's election under this section, a distributee may elect, at the
time and in the manner prescribed by the retirement board, to have any portion of an eligible
rollover distribution paid directly to an eligible retirement plan specified by the distributee
in a direct rollover. (2) Definitions. a. Eligible Rollover Distribution. An eligible rollover
distribution is any distribution of all or any portion of the balance to the credit of the
distributee, except that an eligible rollover distribution does not include: 1. Any distribution
that is one of a series of substantially equal periodic payments, not less frequently than
annually, made for the life, or life expectancy, of the distributee or the joint lives, or
joint life expectancies, of the distributee and the distributee's designated...
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38-14-9
Section 38-14-9 Administration of accounts. (a) Subject to rules promulgated by the
department, a fiduciary organization has sole authority over, and responsibility for, the
administration of individual development accounts. The responsibility of the fiduciary organization
extends to all aspects of the account program, including marketing to all eligible individuals
and families, soliciting matching funds, counseling account owners, providing financial literacy
education, and conducting required verification and compliance activities. The fiduciary organization
may establish program provisions as the organization believes necessary to ensure account
owner compliance with this chapter. (b) A fiduciary organization may act in partnership with
other entities, including businesses, government agencies, corporations, nonprofit organizations,
community action programs, community development corporations, housing authorities and faith-based
entities, to assist in the fulfillment of its...
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40-18-25.1
Section 40-18-25.1 Estates and trusts - Exemptions. (a) Trusts shall be exempt from
the tax imposed by this chapter if they are exempt from federal income tax under 26 U.S.C.
§ 501 (relating to exempt organizations), § 401 (relating to pension and profit sharing
trusts), § 408 and § 408A (relating to individual retirement accounts and individual retirement
annuities), § 530 (relating to Coverdell education savings accounts), or § 664 (relating
to charitable remainder trusts). The foregoing exemption shall not apply, however, to any
entity that is not exempt from federal income tax by reason of 26 U.S.C. §§ 502 or 503,
nor to any income of an otherwise exempt organization to the extent that such income constitutes
"unrelated business taxable income," as defined in 26 U.S.C. § 512. (b) The taxation
of distributions from a trust described in 26 U.S.C. § 401 that constitutes a "defined
contribution plan" as defined in 26 U.S.C. § 414(i) shall be determined in accordance
with 26...
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45-37-123.108
Section 45-37-123.108 Direct rollovers. Except as otherwise specifically provided in
this section, this section shall be effective as of January 1, 1993. (1) ROLLOVERS
GENERALLY. a. Notwithstanding any provision of the plan to the contrary that would otherwise
limit a distributee's election under this section, a distributee, at the time and in
the manner prescribed by the pension board, may elect to have any portion of an eligible rollover
distribution that is equal to at least two hundred dollars ($200) paid directly to an eligible
retirement plan specified by the distributee in a direct rollover. b. For purposes of this
subdivision, the following definitions shall apply: 1.(i) An eligible rollover distribution
is any distribution of all or any portion of the balance to the credit of the distributee,
except that an eligible rollover distribution does not include: Any distribution that is one
of a series of substantially equal periodic payments, not less frequently than annually, made...
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41-10-36
Section 41-10-36 Definitions. Unless the context requires otherwise, the terms defined
in this section shall have the following meanings for purposes of this division: (1)
AFFECTED BOND. Any obligation or portion thereof which is required under the terms of the
code to receive an allocation of the state ceiling as a condition for the exclusion of interest
on such obligation from the gross income of the recipient thereof for federal income tax purposes.
(2) ALLOCATION. An allocation of a portion of the state ceiling issued by the authority pursuant
to the provisions of this division. (3) APPLICATION. An application for an allocation, submitted
by an issuer under the provisions of this division. (4) APPLICATION FOR CARRYFORWARD ALLOCATION.
Any application filed with the authority seeking an elective carryforward of unused limitation
for a "carryforward purpose" as defined in Section 146(f)(5) of the code.
(5) AUTHORITY. The State Industrial Development Authority, a public corporation of...
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45-37A-51.248
Section 45-37A-51.248 Direct rollovers. (a) Notwithstanding any provision of this subpart
to the contrary that would otherwise limit a distributee's election under this section,
a distributee may elect, at the time and in the manner prescribed by the board, to have any
portion of an eligible rollover distribution that is equal to at least five hundred dollars
($500) paid directly to an eligible retirement plan specified by the distributee in a direct
rollover. (b) For purposes of this section the following definitions shall apply: (1)
ELIGIBLE ROLLOVER DISTRIBUTION. Any distribution of all or any portion of the balance to the
credit of the distributee, except that an eligible rollover distribution does not include:
Any distribution that is one of a series of substantially equal periodic payments, not less
frequently than annually, made for the life, or life expectancy, of the distributee or the
joint lives, or joint life expectancies, of the distributee and the distributee's designated...
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