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16-33C-6
Section 16-33C-6 PACT Program generally. (a) The PACT Program is established as one college
savings alternative under the plan whereby purchasers enter into PACT contracts for the future
payment of tuition and mandatory fees at eligible educational institutions. The PACT Program
includes the PACT Trust Fund and the PACT Administrative Fund created pursuant to this chapter.
(b) The official location of the trust fund shall be the State Treasurer's office, and the
facilities of the State Treasurer shall be used and employed in the administration of the
fund including, but without limitation thereto, the keeping of records, the management of
bank accounts and other investments, the transfer of funds, and the safekeeping of securities
evidencing investments. The PACT Trust Fund is hereby created as the source for payment of
the PACT Program's obligations under PACT contracts. The amounts on deposit in the PACT Trust
Fund shall not constitute property of the state, and the state may have no...
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16-33C-10
Section 16-33C-10 ACES Program generally. (a) The ACES Program is established as one college
savings alternative under the plan whereby contributors open ACES savings accounts according
to savings agreements for the payment of qualified higher education costs for a designated
beneficiary at eligible educational institutions, terms as defined in Section 529 of the Internal
Revenue Code of 1986, as amended, or other applicable federal law. The ACES Program includes
the ACES Trust Fund, the ACES Administrative Fund, and the ACES Opportunity Enhancement Fund
created pursuant to this chapter. The ACES Program may be marketed under a different name
than ACES. (b) The ACES Trust Fund is hereby created and shall be comprised of separate ACES
savings accounts held in segregated accounts as established by savings agreements. Funds contributed
to the ACES savings accounts established pursuant to the ACES Program are held in trust by
the Savings Board for the sole benefit of the contributor and...
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36-17-3
Section 36-17-3 Duties generally. The powers, functions, and duties of the Treasurer shall
be: (1) To receive all moneys due the state and deposit them in the proper accounts. (2) To
perform the functions and duties now authorized by law with respect to state depositaries.
(3) To pay all warrants duly executed by the Comptroller, and to pay for funds electronically
transferred by the Comptroller in accordance with Section 41-4-50, upon the determination
that there is sufficient money for the payment thereof in the fund upon which they are drawn.
No warrant executed by any other person shall be honored. All checks drawn on the state funds
shall be signed by the Treasurer, or the chief clerk in the office, and countersigned by the
special assistant in the office of the Treasurer, who is appointed by the Treasurer with the
approval of the Governor. Another employee may be designated by the Treasurer, with the approval
of the Governor, to countersign checks in the absence of the special...
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41-10-751
Section 41-10-751 Definitions. When used in this article, the following terms shall have the
following meanings, unless the context clearly indicates otherwise: (1) ALABAMA TRUST FUND.
The trust fund of the state created under Amendment 450 to the Constitution of Alabama of
1901, and appearing as ยง219.02 of the Official Recompilation of the Constitution of Alabama
1901, as amended. (2) APPROPRIATED FUNDS. The BP settlement revenues deposited in the special
fund to the extent such revenues are appropriated to the authority pursuant to Section 41-10-759.
(3) AUTHORITY. The Alabama Economic Settlement Authority authorized to be established pursuant
to Section 41-10-752. (4) BONDS. Those bonds, including refunding bonds, issued pursuant to
this article. (5) BP SETTLEMENT REVENUES. Revenues received by the state in settlement of
economic damages claims of the state against BP Exploration and Production, Inc. and any of
its corporate affiliates arising out of the Deepwater Horizon oil spill...
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40-17-322
Section 40-17-322 Definitions. As used in this article and unless the context requires otherwise,
the following terms have the meaning ascribed herein: (1) AIRCRAFT. Any airplane or helicopter.
(2) ASSOCIATE JOBBER. A person who acquires motor fuel from a licensed distributor in this
state for subsequent sale. An associate jobber may obtain a distributor's license even though
it does not acquire fuel from a supplier in this state. (3) AVIATION FUEL. Aviation gasoline
or aviation jet fuel. (4) AVIATION GASOLINE. Motor fuel designed for use in the operation
of aircraft other than jet aircraft, and sold or used for that purpose. (5) AVIATION JET FUEL.
Motor fuel designed for use in the operation of jet or turbo-prop aircraft and sold or used
for that purpose. (6) BIODIESEL FUEL. Any motor fuel or mixture of motor fuels that is derived,
in whole or in part, from agricultural products or animal fats, or the wastes of such products
or fats, and is advertised as, offered for sale as, suitable...
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11-62-1
Section 11-62-1 Definitions. (a) The following words and phrases used in this chapter, and
others evidently intended as the equivalent thereof, shall, in the absence of clear implication
herein otherwise, be given the following respective interpretations herein: (1) AUTHORITY.
Any public corporation organized pursuant to this chapter. (2) AUTHORIZED PURPOSE OBLIGATION.
The term includes either of the following: a. Any lease, note, installment sale contract,
or any other obligation of a user, whether general or special, which was entered into, made,
assumed, or otherwise incurred by the user, in whole or in part, for the purpose of financing
the acquisition or ownership of one or more facilities, for the purpose of obtaining funds
with which to operate one or more facilities or for any combination of those purposes. b.
Any obligation of any kind which was entered into, made, assumed, or otherwise incurred by
the United States of America or any department, agency, or instrumentality...
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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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11-65-2
Section 11-65-2 Definitions. (a) The following words and phrases used in this chapter, and
others evidently intended as the equivalent thereof, shall, unless the context clearly indicates
otherwise, have the following respective meanings: (1) ALABAMA-BRED. When this term is used
with reference to a horse, it means a horse which is registered in the registry designated
and administered by a commission in accordance with such rules concerning domicile and registration
requirements as may be established by such commission and which is either (i) foaled from
a mare domiciled in the state during the 10-year period beginning with January 1, 1991, or
(ii) sired by an Alabama stallion and foaled from a mare domiciled in the state at any time
after the expiration of such 10-year period. (2) ALABAMA STALLION. A stallion which is standing
in the state at the time he is bred to the dam of an Alabama-bred horse, which is registered
with a commission, and which is owned or leased by a resident of...
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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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5-5A-28
Section 5-5A-28 Pledge of assets. No bank may pledge assets as security for deposits, except
any bank is authorized to pledge acceptable assets as security for deposits of trust funds
deposited by its trust department and of public funds, heretofore or hereafter deposited,
by the United States or any agency or governmental instrumentality of the United States or
by a state or any political subdivision of a state or any agency or other governmental instrumentality
of such subdivision, including any county, municipal corporation, county, city, or other public
board of education, including any custodian or treasurer of county, city, or other public
school funds, any improvement authority heretofore or hereafter incorporated or any public
corporation, including each board, authority, or district heretofore or hereafter organized
or created in a state pursuant to authorization or determination by any municipality or municipalities
or by any county or counties or the governing body of any...
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