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33-19-1
Section 33-19-1 Apalachicola-Chattahoochee-Flint River Basin Compact. The State of Alabama
hereby agrees to the following interstate compact known as the Apalachicola-Chattahoochee-Flint
River Basin Compact: Apalachicola-Chattahoochee-Flint River Basin Compact The States of Alabama,
Florida and Georgia and the United States of America hereby agree to the following compact
which shall become effective upon enactment of concurrent legislation by each respective state
legislature and the Congress of the United States. Short Title This Act shall be known and
may be cited as the "Apalachicola-Chattahoochee-Flint River Basin Compact" and shall
be referred to hereafter in this document as the "ACF Compact" or "compact."
Article I Compact Purposes This compact among the States of Alabama, Florida and Georgia and
the United States of America has been entered into for the purposes of promoting interstate
comity, removing causes of present and future controversies, equitably apportioning the...
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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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40-23-4
Section 40-23-4 Exemptions. (a) There are exempted from the provisions of this division and
from the computation of the amount of the tax levied, assessed, or payable under this division
the following: (1) The gross proceeds of the sales of lubricating oil and gasoline as defined
in Sections 40-17-30 and 40-17-170 and the gross proceeds from those sales of lubricating
oil destined for out-of-state use which are transacted in a manner whereby an out-of-state
purchaser takes delivery of such oil at a distributor's plant within this state and transports
it out-of-state, which are otherwise taxed. (2) The gross proceeds of the sale, or sales,
of fertilizer when used for agricultural purposes. The word "fertilizer" shall not
be construed to include cottonseed meal, when not in combination with other materials. (3)
The gross proceeds of the sale, or sales, of seeds for planting purposes and baby chicks and
poults. Nothing herein shall be construed to exempt or exclude from the computation of...
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10A-10-1.21
Section 10A-10-1.21 Income tax. (a) A real estate investment trust shall be subject to the
tax imposed by Section 40-18-31, provided, that for purposes of Section 40-18-33, the "net
income" of a real estate investment trust shall mean "real estate investment trust
taxable income" as defined in 26 U.S.C. Section 857 as in effect from time to time. (b)
Solely for purposes of conforming federal law with Alabama law, the "net income"
of a real estate investment trust determined pursuant to subsection (a) shall be further adjusted
as follows: (1) The deduction for intercorporate dividends received under Section 40-18-35(a)
(7), shall not be allowed. (2) The deduction for dividends paid, as defined in 26 U.S.C. Section
561, shall be allowed but (i) shall be computed without regard to that portion of the deduction
which is attributable to the amount equal to the net income from foreclosure property as defined
in 26 U.S.C. Section 857, and (ii) shall be limited by the provisions of Section...
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19-3-151
Section 19-3-151 Right of fiduciary to participate in partnership; liability of fiduciary,
estate and beneficial owners. If permitted by the trust instrument or will under which he
serves or by order of a court having jurisdiction of the estate or trust, a fiduciary may
enter into a partnership agreement or arrangement with others or accept the assignment of
or otherwise acquire, hold and dispose of an interest in a partnership, and in so doing may
become either a general or a limited partner. In any such case, as to creditors of or claimants
against such partnership and as to the other members of such partnership, the liability, if
any, of such fiduciary for the debts and other liabilities of the partnership, whether ex
contractu or ex delicto or otherwise, shall be limited to the assets of the trust or estate,
or so much thereof as may be necessary to discharge such debts and liabilities, but no personal
liability shall attach to the fiduciary or to the beneficial owners of the...
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40-15-18
Section 40-15-18 State and federal estate taxes to be paid out of estate property. Unless the
decedent directs otherwise in his or her will, all estate taxes, whether state or federal,
payable by reason of the death of the decedent, shall be paid by the executor or other personal
representative out of the estate property and shall be a charge against the residue thereof,
and the executor or other personal representative shall be under no duty to recover from anyone
for the benefit of the estate the pro rata portion of the estate tax attributable to inclusion
in the gross estate of any property, including proceeds of policies of insurance upon the
life of the decedent receivable by a beneficiary other than the executor or other personal
representative, which does not pass to the executor or other personal representative as a
part of the estate. This section shall apply to the estate of any decedents who shall die
on or after July 26, 1951, and before January 1, 2008, and to the estate...
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40-15-7
Section 40-15-7 Nonresident decedents. (a) Except as herein otherwise provided, all of the
provisions of this chapter shall be applicable to so much of the estates of nonresident decedents
as is subject to estate tax under the act of Congress in effect at the time of the death of
decedent as consists of real estate or tangible personal property located within this state
or other items of property or interest therein lawfully subject to the imposition of an estate
tax by the State of Alabama. (b) In assessing the tax upon any real estate or tangible property
located within this state belonging to the estate of a nonresident decedent, which shall pass
by will, devise or by the laws of intestacy, the Department of Revenue shall determine the
tax due to be such proportion of the federal estate tax as would be leviable upon an estate
of similar taxable net value, less that proportion of any exemption to which the estate is
entitled, which the actual value of the real estate and tangible...
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19-3B-1013
Section 19-3B-1013 Certification of trust. (a) Instead of furnishing a copy of the trust instrument
to a person other than a beneficiary, the trustee may furnish to the person a certification
of trust containing the following information: (1) that the trust exists and the date the
trust instrument was executed; (2) the identity of the settlor; (3) the identity and address
of the currently acting trustee; (4) the powers of the trustee in a pending transaction or
relevant to the request; (5) the revocability or irrevocability of the trust and the identity
of any person holding a power to revoke the trust; (6) the authority of co-trustees to sign
or otherwise authenticate and whether all or less than all are required in order to exercise
powers of the trustee; (7) the trust's taxpayer identification number; and (8) the name in
which title to trust property may be taken. (b) A certification of trust may be signed or
otherwise authenticated by any trustee. (c) A certification of trust must...
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43-8-294
Section 43-8-294 Effect of disclaimer. (a) If the property or interest devolved to a disclaimant
under a testamentary instrument or under the laws of intestacy and the deceased owner or donee
of a power of appointment has not provided for another disposition, it devolves as if the
disclaimant had predeceased the decedent or, if the disclaimant was designated to take under
a power of appointment exercised by a testamentary instrument, as if the disclaimant had predeceased
the donee of the power. Any future interest that takes effect in possession or enjoyment after
the termination of the estate or interest disclaimed takes effect as if the disclaimant had
died before the event determining that the taker of the property or interest had become finally
ascertained and his interest is indefeasibly vested. A disclaimer relates back for all purposes
to the date of death of the decedent, or of the donee of the power, or the determinative event,
as the case may be. (b) If the property or...
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10A-17-1.15
Section 10A-17-1.15 Transition concerning real and personal property. (a) If, before January
1, 1996, an estate or interest in real or personal property was purportedly transferred to
a nonprofit association, on January 1, 1996 the estate or interest vests in the nonprofit
association unless the parties have treated the transfer as ineffective. (b) If, before January
1, 1996, the transfer vested the estate or interest in another person to hold the estate or
interest as a fiduciary for the benefit of the nonprofit association, its members, or both,
on or after January 1, 1996, unless otherwise prohibited by terms of a written trust, the
fiduciary may transfer the estate or interest to the nonprofit association in its name, or
the nonprofit association, by appropriate proceedings, may require that the estate or interest
be transferred to it in its name. (Acts 1995, No. 95-527, p. 1064, §15; §10-3B-15; amended
and renumbered by Act 2009-513, p. 967, §320.)...
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