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6-12-3
Section 6-12-3 Election between settlement and escrow fund. (a) Any tobacco product manufacturer
selling cigarettes to consumers within the state, whether directly or through a distributor,
retailer, or similar intermediary or intermediaries, after June 9, 1999, shall do one of the
following: (1) Become a participating manufacturer, as that term is defined in Section II(jj)
of the Master Settlement Agreement, and generally perform its financial obligations under
the Master Settlement Agreement. (2) a. Place into a qualified escrow fund, by April 15 of
the year following the year in question, the following amounts, as such amounts are adjusted
for inflation: 1999: $.0094241 per unit sold after June 9, 1999; 2000: $.0104712 per unit
sold; For each of 2001 and 2002: $.0136125 per unit sold; For each of 2003 through 2006: $.0167539
per unit sold; For each of 2007 and each year thereafter: $.0188482 per unit sold. b. A tobacco
product manufacturer that places funds into escrow pursuant to...
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19-3B-816
Section 19-3B-816 Specific powers of trustee. (a) Without limiting the authority conferred
by Section 19-3B-815, a trustee may: (1) collect trust property and accept or reject additions
to the trust property from a settlor or any other person, including, but not being limited
to, the authority to receive, collect, hold, and retain common or preferred stock or other
interests in the trustee or any related party; (2) acquire or sell property, for cash or on
credit, at public or private sale; (3) exchange, partition, or otherwise change the character
of trust property; (4) deposit trust money in an account in a regulated financial-service
institution; (5) borrow money, with or without security, and mortgage or pledge trust property
for a period within or extending beyond the duration of the trust; (6) with respect to an
interest in a proprietorship, partnership, limited liability company, business trust, corporation,
or other form of business or enterprise, continue the business or other...
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40-10-28
Section 40-10-28 Disposition of excess arising from sale. (a)(1) The excess arising from the
sale of any real estate remaining after paying the amount of the decree of sale, including
costs and expenses subsequently accruing, shall be paid over to a person or entity who has
redeemed the property as authorized in Section 40-10-120 or any other provisions of Alabama
law authorizing redemption from a tax sale, provided proof that the person or entity requesting
payment of the excess has properly redeemed the property is presented to the county commission
within three years after the tax sale has occurred. The county commission may retain any interest
earned on those funds. Until and unless the property is redeemed, the excess funds from the
tax sale shall be held in a separate account in the county treasury during the three-year
period. If at the end of the three-year period there has been no proper request for the excess
funds, those funds and any interest earned on those funds shall be...
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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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-25.1.htm - 3K - Match Info - Similar pages
6-5-502
Section 6-5-502 Limitation periods for product liability actions. (a) All product liability
actions against an original seller must be commenced within the following time limits and
not otherwise: (1) Except as specifically provided in subsections (b), (c), and (e) of this
section, within one year of the time the personal injury, death, or property damage occurs;
and (2) Except as specifically provided in subsections (b), (c), and (e) of this section,
each element of a product liability action shall be deemed to accrue at the time the personal
injury, death, or property damage occurs; (b) Where the personal injury, including personal
injury resulting in death, or property damage (i) either is latent or by its nature is not
discoverable in the exercise of reasonable diligence at the time of its occurrence, and (ii)
is the result of ingestion of or exposure to some toxic or harmful or injury-producing substance,
element or particle, including radiation, over a period of time as opposed...
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19-3B-508
Section 19-3B-508 Qualified trusts under the Internal Revenue Code. (a) As used in this section:
(1) ASSIGNMENT or ALIENATION, and any conjugation thereof, includes any anticipation, assignment
at law or in equity, alienation, attachment, garnishment, levy, execution, or other legal
or equitable process. The term includes: (i) any arrangement providing for the payment to
the employer or other sponsor of such plan of benefits that otherwise would be due the participant
under the plan; (ii) any direct or indirect arrangement, whether revocable or irrevocable,
whereby any person acquires from a participant or beneficiary of such plan a right or interest
enforceable against the plan in, or to, all or any part of a plan benefit which is, or may
become, payable to the participant or beneficiary; (iii) any attachment, execution, seizure,
or the like, or under any form of legal process whatsoever; and (iv) the operation of any
bankruptcy or insolvency laws under 11 U.S.C. § 522(b) as from...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-3B-508.htm - 6K - Match Info - Similar pages
27-27-7
Section 27-27-7 Solicitation permit - Issuance; contents; compliance with terms. (a) Upon the
filing of any bond required by Sections 27-27-10 or 27-27-16, after notice by the commissioner
provided for in subsection (a) of Section 27-27-6, or upon his decision to grant a solicitation
permit if such a bond is not so required, the commissioner shall issue to the applicant or
to the newly formed corporation, if the application is on behalf of a newly formed incorporated
domestic insurer, a solicitation permit. Every solicitation permit issued by the commissioner
shall contain provisions in substance as follows: (1) State the securities or other rights
or interests for which subscriptions are to be solicited, the number, classes, par value,
and selling price thereof, or identify the insurance contract, or contracts, for which applications
and advance premiums or deposits of premium are to be solicited in the case of mutual or reciprocal
insurers; (2) Require that any particular class of...
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37-4-140
Section 37-4-140 Purchase of electricity. (a) For purposes of this section only, the following
terms shall have the following meanings: (1) AVOIDED COSTS. Costs that a utility or a commission
non-jurisdictional electric supplier which purchases electrical energy from a distributed
generation facility would have been required to incur but for the distributed generation facility's
provision of electrical energy during the same period of time. To the extent such costs are
actually avoided, the term may include incremental fuel costs, incremental energy losses,
incremental emission allowance costs, and incremental fuel-related operation and maintenance
expenses. The term does not include, among other things, costs associated with capacity, the
transmission and distribution system, administrative and general costs, customer accounting
costs, and general plant in service costs. (2) COMMISSION. The Alabama Public Service Commission.
(3) COMMISSION NON-JURISDICTIONAL ELECTRIC SUPPLIER. a. A...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-4-140.htm - 9K - Match Info - Similar pages
40-31-3
Section 40-31-3 Temporary presence and residency in state for purpose of responding to declared
state of emergency. (a) An out-of-state employee performing disaster or emergency related
work on infrastructure owned or operated by a registered business, municipality, county, or
public corporation shall not be considered to have established residency or a presence in
the state that would require that person or his or her employer to file and pay income taxes
or to be subject to tax withholdings or to file and pay any other state or local tax or fee
which is based on a physical presence in the State of Alabama or with a local taxing jurisdiction
during one or more disaster periods. This includes any related state or local employer withholdings
and remittance obligations, but does not include any transaction taxes and fees as described
in subsection (d). (b) Any out-of-state business that has no registrations or tax filings
or nexus in the state prior to a declared state disaster or...
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45-17-91.23
Section 45-17-91.23 Creation of Shoals Economic Development Fund; purposes for which moneys
in such fund may be expended. (a) There is created the Shoals Economic Development Fund, which
shall be a special or trust fund or account of the committee, and which shall be administered
in accordance with this subpart. (b)(1) The authority may, at any time and from time to time,
request that the committee authorize and approve the expenditure or appropriation of moneys
on deposit in the Shoals Economic Development Fund, but solely for purposes authorized in
subsection (c). Any such request may specify that such moneys shall be expended by, or appropriated
directly or indirectly to, any of the following: a. The authority itself. b. Either of the
counties, or any city or town located, in whole or in part, in either of the counties. c.
Any public corporation that has been organized with the approval or consent of any one or
more of the counties, the municipalities, or any other city or town in...
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