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40-14B-6
Section 40-14B-6 Qualified investments. (a) To continue to be certified, a certified capital
company shall make qualified investments according to the following schedule: (1) Before the
third anniversary of its allocation date, a company must have made qualified investments in
an amount cumulatively equal to at least 35 percent of its certified capital. (2) Before the
fifth anniversary of its allocation date, a company must have made qualified investments in
an amount cumulatively equal to at least 50 percent of its certified capital. (b) The aggregate
cumulative amount of all qualified investments made by the certified capital company after
its allocation date shall be considered in the computation of the percentage requirements
under this chapter. Any proceeds received from a qualified investment may be invested in another
qualified investment and count toward any requirement in this chapter with respect to investments
of certified capital. (c) A business that is classified as a...
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39-1-4
Section 39-1-4 selection of surety company, etc.; approval of bonds, etc. (a) No officer or
employee of an awarding authority and no person acting or purporting to act on behalf of such
officer or employee of an awarding authority, except a public agency or authority created
pursuant to agreement or compact with another state, shall, with respect to any public works
contract, require the bidder to obtain or procure any surety bond or contract of insurance
specified in connection with such contract or specified by any law, ordinance, or regulation
from a particular surety company, insurance company, bonding company, agent, or broker. No
officer, employee, person, firm, or corporation acting or purporting to act on behalf of any
officer or employee of an awarding authority shall negotiate, make application, obtain, or
procure any surety bond or contract of insurance, except contracts of insurance for builder's
risk or owner's protective liability, which shall be obtained or procured by...
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40-12-414
Section 40-12-414 License - Proof of financial responsibility. (a) Except as provided in subsection
(b), every person, firm, or corporation, before being licensed under this article, must show
proof of responsibility by depositing with the Commissioner of Revenue a continuing bond in
the amount prescribed in Section 40-12-398 with surety thereon of a company authorized to
do business in the State of Alabama, which bond shall be approved by the Commissioner of Revenue,
payable to the State of Alabama, and shall be conditioned upon the faithful observance of
all the provisions of this article and shall also indemnify any person who suffers any loss
by reason of a failure to observe the provisions of this article. (b) The department, by rule,
may permit a surety bond obtained pursuant to Section 40-12-398, to serve in lieu of the surety
bond prescribed in subsection (a). (Acts 1979, No. 79-756, p. 1342, §5; Acts 1981, No. 81-811,
p. 1449, §1; Acts 1991, No. 91-321, p. 595, §1; Act...
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40-9D-4
Section 40-9D-4 Enhancement of abatements and capital credits. (a) For the entities that qualify
under this chapter, an abatement shall be allowed for ad valorem taxes. Such abatement shall
follow the provisions and definitions of Chapter 9B of this title with the following exceptions:
(1) The maximum exemption period as provided in subdivision (10) of Section 40-9B-3 shall
be 20 years. (2) This abatement shall apply to real property located at other Alabama project
sites built, owned, and operated by the qualifying entity as a component of the qualifying
project. Such abatement shall be made pursuant to the provisions of the granting authority
where the ancillary property is located. (3) This abatement shall apply to the qualifying
entity's tangible personal property located at other Alabama project sites if the property
is a component of the qualifying project. Such abatement shall be made pursuant to the provisions
of the granting authority where the ancillary property is located....
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10A-1-8.01
Section 10A-1-8.01 Conversion of business and nonprofit entities. (a) A conversion of an entity
may be accomplished as provided in this section: (1) CORPORATIONS. a. The terms and conditions
of a plan of conversion of a corporation, other than a nonprofit corporation, must be approved
in accordance with the procedures and by the stockholder vote required by Article 9 of Chapter
2A. If the governing documents provide for approval of a conversion by less than all of a
corporation's stockholders, approval of the conversion shall constitute corporate action subject
to appraisal rights pursuant to Article 13 of Chapter 2A. No conversion of a corporation to
a general or limited partnership may be effected without the consent in writing of each stockholder
who will have personal liability with respect to the converted entity, notwithstanding any
provision in the governing documents of the converting corporation providing for less than
unanimous stockholder approval for the conversion. b. The...
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10A-5A-7.05
Section 10A-5A-7.05 Other claims against dissolved limited liability company. Notwithstanding
Sections 10A-1-9.01 and 10A-1-9.22: (a) A dissolved limited liability company may publish
notice of its dissolution and request that persons with claims against the dissolved limited
liability company present them in accordance with the notice. (b) The notice authorized by
subsection (a) must: (1) be published at least one time in a newspaper of general circulation
in the county in which the dissolved limited liability company's principal office is located
or, if it has none in this state, in the county in which the dissolved limited liability company's
most recent registered office is located; (2) describe the information that must be included
in a claim and provide a mailing address to which the claim is to be sent; and (3) state that
if not sooner barred, a claim against the dissolved limited liability company will be barred
unless a proceeding to enforce the claim is commenced within two...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-5A-7.05.htm - 5K - Match Info - Similar pages
27-31B-12
Section 27-31B-12 Legal investments. (a) An association captive insurance company, risk retention
group, and an industrial insured captive insurance company insuring the risks of an industrial
insured group defined in paragraph b. of subdivision (18) of Section 27-31B-2 shall comply
with the investment requirements contained in this title, as applicable; provided, however,
that compliance with these investment requirements shall be waived for risk retention groups
to the extent that credit for risks ceded to reinsurers is allowed pursuant to Section 27-31B-13
or to the extent otherwise deemed reasonable and appropriate by the commissioner. Chapter
37 of this title shall apply to association captives, risk retention groups, and industrial
insured captive insurance companies insuring the risks of industrial insured groups defined
in paragraph b. of subdivision (18) of Section 27-31B-2 except to the extent it is inconsistent
with approved accounting standards in use by the association...
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40-18-414
Section 40-18-414 (Per Section 40-18-416, this section is repealed following the close of fiscal
year 2020) Site preparation or public infrastructure work; reports. (a) Upon receipt of funding
provided by the tax credit process in Section 40-18-413, the economic development organization
shall proceed with the work that was specified in the application required by Section 40-18-411.
(b)(1) As to a project described in Section 40-18-411(a)(1), the economic development organization
shall report to the Department of Commerce upon the completion of the site preparation or
public infrastructure work, upon the transfer of the site to an industry or business, and
at other times as may be required or requested by the Department of Commerce. (2) As to a
project described in Section 40-18-411(a)(2), the economic development organization shall
report to the Department of Commerce upon the completion of the work and at such times as
may be required or requested by the Department of Commerce. (c)...
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41-10-651
Section 41-10-651 Legislative findings. (a) The Legislature finds and declares the following:
(1) That it is appropriate and necessary that measures be taken to secure to the citizens
of the state the benefits of a strengthening economy resulting from increased industrial development.
That among these benefits are diversification of available job opportunities, higher salaries,
better working conditions, lower consumer prices for industrial products, conservation and
efficient use of natural resources, and maximum utilization of technical skills possessed
by the citizens of the state. (2) That the police power of the state places upon the Legislature
the duties of ascertaining and determining when the welfare of the people requires the exercise
of such power. (3) That the public interest lies in the promotion of industry, and the welfare
of the people is so inextricably intertwined with industry and industrial development as to
make its well-being a matter of governmental concern. (4)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-651.htm - 2K - Match Info - Similar pages
27-31B-3
Section 27-31B-3 Licensing. (a) Any captive insurance company, when permitted by its articles
of association, charter, or other organizational document, may apply to the commissioner for
a license to do any and all insurance defined in Sections 27-5-2, 27-5-4, and 27-5-5, in subdivisions
(1), (2), (4), (5), (6), (7), (8), (9), (10), (11), (12), (13), and (14) of subsection (a)
of Section 27-5-6, in Sections 27-5-7, 27-5-8, 27-5-9, and 27-5-10, and to grant annuity contracts
as defined in Section 27-5-3, subject, however, to all of the following: (1) No pure captive
insurance company may insure any risks other than those of its parent and affiliated companies
or controlled unaffiliated business. (2) No association captive insurance company may insure
any risks other than those of the member organizations of its association, and their affiliated
companies. (3) No industrial insured captive insurance company may insure any risks other
than those of the industrial insureds that comprise...
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