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19-4-1
Section 19-4-1 Definitions. When used in this article, the following words and phrases shall
have the following meanings, respectively, unless the context clearly indicates otherwise:
(1) FIDUCIARY. An administrator, an administrator with the will annexed, an administrator
de bonis non, an executor, a trustee, a guardian, a conservator, an agent, a custodian or
a custodian or agent for another fiduciary or fiduciaries. (2) FIDUCIARY ACCOUNT. An estate,
a trust, a guardianship, a custodianship, an agency or any other fiduciary relationship, including
a custodianship or agency for another fiduciary or fiduciaries. (3) BANK. A bank or trust
company organized and existing under the laws of Alabama with authority to act as a fiduciary
and a national banking association with its principal office in the State of Alabama and with
authority to act as a fiduciary. (4) SECURITY. Any note; stock; treasury stock; bond; debenture;
evidence of indebtedness; certificate of interest or participation in...
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37-4-2
Section 37-4-2 Jurisdiction of commission limited as to nonutilities. The commission shall
not have any jurisdiction, authority, power or control in any respect whatsoever over any
nonutility, as defined in Section 37-4-1, except as may be provided in Division 2 of Article
2 of this chapter. Any utility, as defined by Section 37-4-1, may sell, lease or otherwise
dispose of any or all of its property, including, without limitations, any franchise, rights,
contracts, business, good will, capital stock and all other assets to any such nonutility
without the approval or consent of the commission, except as may be provided in Division 2
of Article 2 of this chapter. (Acts 1935, No. 1, p. 1; Code 1940, T. 48, ยง303.)...
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9-17-33
Section 9-17-33 Disposition of proceeds from sale of oil or gas production. (a) As used in
this section, the following terms shall have the following meanings: (1) CHECK STUB. The financial
record attached to a check, included with a check, or mailed separately at or near the time
the check is mailed. (2) DIVISION ORDER. A contract between the interest owner and the purchaser,
operator, or the owner of the right to drill and to produce, directing the distribution of
the value from the sale of the oil, gas, and other liquid hydrocarbons in the proportions
set out in the division order, which division order is prepared by the purchaser, operator,
and/or the owner of the right to drill and to produce on the basis of the ownership shown
in a title opinion prepared after examination of abstracts or based on other generally acceptable
legal ownership documentation and which is executed by the interest owners or others having
an interest in the production. (3) INTEREST OWNER. A person owning...
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35-4A-5
Section 35-4A-5 Exclusions from statutory rule against perpetuities. Section 35-4A-2, the statutory
rule against perpetuities, does not apply to: (1) a nonvested property interest or a power
of appointment arising out of a nondonative transfer, except a nonvested property interest
or a power of appointment arising out of (i) a premarital or postmarital agreement, (ii) a
separation or divorce settlement, (iii) a spouse's election, (iv) a similar arrangement arising
out of a prospective, existing, or previous marital relationship between the parties, (v)
a contract to make or not to revoke a will or trust, (vi) a contract to exercise or not to
exercise a power of appointment, (vii) a transfer in satisfaction of a duty of support, or
(viii) a reciprocal transfer; (2) a fiduciary's power relating to the administration or management
of assets, including the power of a fiduciary to sell, lease, or mortgage property, and the
power of a fiduciary to determine principal and income; (3) a power...
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4-3-13
Section 4-3-13 Assistance and cooperation by counties, municipalities, etc. For the purpose
of aiding and cooperating with the authority in the planning, development, undertaking, construction,
extension, improvement or operation of airports, heliports and air navigation facilities,
any county, city, town or other political subdivision, public corporation, agency or instrumentality
of this state may, upon such terms and with or without consideration as it may determine:
(1) Lend or donate money to the authority; (2) Provide that all or a portion of the taxes
or funds available, or to become available to it, or required by law to be used by it, for
airport purposes shall be transferred or paid directly to the authority as such funds become
available to it; (3) Cause water, sewer or drainage facilities or any other facilities which
it is empowered to provide to be furnished adjacent to or in connection with such airports,
heliports or air navigation facilities; (4) Donate, sell, convey,...
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4-3-49
Section 4-3-49 Assistance and cooperation by counties, municipalities, etc. For the purpose
of aiding and cooperating with the authority in the planning, development, undertaking, construction,
extension, improvement or operation of airports, heliports and air navigation facilities and
other facilities, any county, municipality or other political subdivision, public corporation,
agency or instrumentality of this state may, upon such terms and conditions, with or without
consideration, as it may determine: (1) Lend or donate money to the authority; (2) Provide
that all or a portion of the taxes or funds available or to become available to it or required
by law to be used by it for airport purposes shall be transferred or paid directly to the
authority as such funds become available to it; (3) Cause water, sewer, electric, gas or drainage
facilities or any other facilities which it is empowered to provide to be furnished adjacent
to or in connection with such airports, heliports or air...
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41-4-280
Section 41-4-280 Definitions. For the purposes of this article, the following words and phrases
shall have the meanings ascribed: (1) DEPARTMENT. The Department of Finance. (2) AGENCY. Any
agency, department, board, commission, office, agency or institution of the state, except
those agencies and institutions excluded by Section 41-4-291. (3) ELECTROMAGNETIC TRANSMISSION
EQUIPMENT. Any transmission medium, switch, instrument, inside wiring system or other facility
which is used, in whole or in part, to provide any transmission. (4) EQUIPMENT SUPPORT CONTRACT.
A contract which covers a specific class or classes of telecommunications equipment and all
features associated with that class, through which state agencies may purchase or lease the
item specified by issuing a purchase order under the terms of the contract without the necessity
of further competitive bidding. (5) PROCUREMENT. The buying, purchasing, renting, leasing,
lease/purchasing or otherwise obtaining telecommunications...
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10A-20-5.03
Section 10A-20-5.03 Disposition of property of educational corporations where the stockholders
are unknown or the number of shares is unknown. (a) Where the charter of any educational corporation
organized under the laws of this state, general or special, provides for the issuance of stock
and the stockholders are unknown or where the amount or number of shares are unknown, the
property of the corporation may be disposed of as follows: The acting trustees or directors
having peaceable charge of the business and property of the corporation, whether legally elected
or not, may contract to sell or otherwise dispose of the property of the corporation in the
manner as they may deem best to carry out the purpose of the corporation, which action must
be concurred in by a majority of the acting trustees or directors. (b) Within 30 days after
making the contract or agreement, the trustees or directors shall cause to be filed in the
name of the corporation, in the circuit court of the county in...
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11-20-73
Section 11-20-73 Powers of authority; execution of contracts; disposition of funds. (a) An
agriculture authority shall have the following powers, which it may exercise in the agriculture
authority's authorized operational area: (1) To have succession by its corporate name until
dissolved as provided in this article. (2) To adopt bylaws making provisions for its actions
not inconsistent with this article. (3) To institute and defend legal proceedings in any court
of competent jurisdiction and proper venue; provided, however, that the board may not be sued
in any trial court other than the courts of the county of incorporation; provided, further,
that the officers, directors, agents, and employees of an agriculture authority may not be
sued for their actions in behalf of the authority except for actions that are unreasonable
or known by the person to be unlawful or are performed with reckless disregard for the lawfulness
of such actions. (4) To plan for construction and development of an...
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11-43A-12
Section 11-43A-12 Powers of municipality. The municipality shall have all the powers granted
to municipal corporations by the Constitution and the laws of the state together with all
the implied powers necessary to carry into execution all the powers granted. The municipality
may acquire property within or without its corporate limits for any municipal purpose, in
fee simple or any lesser interest or estate, by purchase, gift, devise, lease, or condemnation,
and may sell, lease, mortgage, hold, manage, and control such property as its interest may
require, and, except as prohibited by the Constitution and the laws of this state or restricted
by this article, the municipality shall and may exercise all municipal powers, functions,
rights, privileges, and immunities of every name and nature whatsoever. The enumeration of
particular powers by this article shall not be deemed to be exclusive but in addition to the
powers enumerated herein or implied thereby or appropriate to the exercise...
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