38-14-9
Section 38-14-9 Administration of accounts. (a) Subject to rules promulgated by the department, a fiduciary organization has sole authority over, and responsibility for, the administration of individual development accounts. The responsibility of the fiduciary organization extends to all aspects of the account program, including marketing to all eligible individuals and families, soliciting matching funds, counseling account owners, providing financial literacy education, and conducting required verification and compliance activities. The fiduciary organization may establish program provisions as the organization believes necessary to ensure account owner compliance with this chapter. (b) A fiduciary organization may act in partnership with other entities, including businesses, government agencies, corporations, nonprofit organizations, community action programs, community development corporations, housing authorities and faith-based entities, to assist in the fulfillment of its...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/38-14-9.htm - 3K - Match Info - Similar pages
41-10-260
Section 41-10-260 Definitions. The following terms, wherever used in this article, shall have the following respective meanings unless the context clearly indicates otherwise: (1) AUTHORITY. The public corporation organized pursuant to the provisions of this article. (2) BOARD OF DIRECTORS. The board of directors of the authority. (3) BONDS. When used with reference to debt instruments issued by the authority, means bonds, notes and other forms of indebtedness. (4) BUILDING COMMISSION. The Building Commission created by Act No. 128 adopted at the 1945 Regular Session of the Legislature of the state, and any successor agency thereto. (5) CHIEF JUSTICE. The Chief Justice of the Supreme Court of the State of Alabama. (6) GOVERNMENT SECURITIES. Any bonds or other obligations which as to principal and interest constitute direct obligations of, or are unconditionally guaranteed by, the United States of America, including obligations of any federal agency to the extent such obligations are...
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45-37A-51.137
Section 45-37A-51.137 The fund and its investment. (a) In each instance in which any provision of this section requires a determination of the value of a security, or securities, in the fund, the fair market value of such security or securities as determined by pricing sources acceptable to the custodian, shall be deemed to be the value thereof. (b) The fund shall include all assets of the fund in any form, and the city director of finance shall be, ex officio, the custodian of the fund. The custodian shall keep a separate account of the fund and of all assets and liabilities thereof and of all receipts and disbursements thereof and of all prior service time and paid membership time of employee members. The custodian shall keep all monies of the fund in a separate bank account. The custodian shall keep in force and effect a bond in a penal amount equal to the total amount of monies and securities in such custodian's custody or possession, but in no event in excess of fifty thousand...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37A-51.137.htm - 6K - Match Info - Similar pages
16-16A-2
Section 16-16A-2 Definitions. As used in this chapter, the following words and phrases shall have the following meanings: (1) AUTHORITY. The Public School and College Authority. (2) BASELINE DATE. January 1, 2006. (3) 2005 BRAC. a. Closure actions according to the 2005 Base Closure and Realignment Commission Report of the U.S. Department of Defense as they relate to Redstone Arsenal. b. Subsequent BRAC Actions are closure actions according to any Base Closure and Realignment Commission Report of the U.S. Department of Defense subsequent to the 2005 Base Closure and Realignment Commission Report of the U.S. Department of Defense or administrative actions by a United States government agency, department, or organization which positively impact the number of Redstone Arsenal jobs. (4) BRAC DISTRIBUTIONS. Bond proceeds to be distributed to the local school districts for purposes of and as allocated by this chapter. (5) BRAC IMPACTED AREA. The geographic area within Madison County and the...
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16-16A-7
Section 16-16A-7 Additional findings; bonds authorized; procedures. (a) The Legislature finds that the number of students attending the several school systems located in those areas of North Alabama that will be directly impacted by the 2005 BRAC and Subsequent BRAC Actions will collectively increase by an estimated 9,000 students. As a result, there will be a need for the construction of additional school facilities as well as the renovation of existing school facilities. The Legislature also finds that the 2005 BRAC and Subsequent BRAC Actions will have a positive impact on future receipts to the Education Trust Fund, as the significant population growth in North Alabama will increase sales, income, and other tax collections. Thus, it is an efficient use of state funds to allow such revenue growth to help pay for capital improvement costs associated with BRAC-related school construction. (b) The Alabama Public School and College Authority is hereby authorized to sell and issue its...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-16A-7.htm - 24K - Match Info - Similar pages
16-33C-4.1
Section 16-33C-4.1 Composition of PACT board. (a) The PACT board shall consist of 15 members as follows: (1) The Director of Finance. (2) The State Treasurer. (3) Two persons appointed by the Governor. (4) Two persons appointed by the Speaker of the House of Representatives, one of whom shall be a PACT contract holder. (5) One person appointed by the Lieutenant Governor. (6) One person appointed by the Senate President Pro Tempore. (7) The President of the Council of College and University Presidents or his or her designee. (8) The Chancellor of the Postsecondary Education Department or his or her designee. (9) The Executive Director of the Alabama Commission on Higher Education. (10) One member of the House of Representatives appointed by the Speaker of the House of Representatives. (11) One member of the Senate appointed by the Lieutenant Governor. (12) The Chief Executive Officer of the Retirement Systems of Alabama or his or her designee. (13) The President of the Alabama...
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23-1-178
Section 23-1-178 Bonds - Disposition of proceeds. (a) The proceeds of all bonds, other than refunding bonds, issued by the corporation remaining after paying the expenses of their issuance shall be deposited in the State Treasury and credited to the Road and Bridge Fund, and shall be subject to be drawn on by the corporation, upon the approval of the State Department of Transportation, but solely for the purpose of constructing, reconstructing , or relocating public roads and bridges, or work incidental or related thereto, including the acquisition of property necessary therefor, in the State of Alabama; provided, that such funds may be used only for payment of the state's share or the costs thereof to be paid by any county or municipality within the state, of the cost of constructing, reconstructing, or relocating public roads and bridges, or work incidental or related thereto, which have been or will be constructed, reconstructed, or relocated under programs financed jointly by the...
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5-17-8
Section 5-17-8 Reports to Administrator of Alabama Credit Union Administration; powers of administrator. (a) Credit unions shall report to the Administrator of the Alabama Credit Union Administration at least annually on or before January 31 in such manner and form as required by the administrator for that purpose. Additional reports may be required. Credit unions shall be examined at least every 18 months by employees of the administration or by other persons designated by the administrator. For failure to file reports when due, unless excused for cause by the administrator, the credit union shall pay to the State Treasurer five dollars ($5) for each day of its delinquency. (b) If the administrator determines that the credit union is violating this chapter, or is insolvent, the administrator may suspend operations of the credit union by issuing an order requiring that the credit union cease operations pending a hearing on the revocation of the certificate of approval, or the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-17-8.htm - 13K - Match Info - Similar pages
8-32-3
Section 8-32-3 Requirements for selling or offering to sell service contracts. (a) Either the provider or its designee shall: (1) Provide a receipt for, or other written evidence of, the purchase of the service contract to the contract holder. (2) Provide a copy of the service contract to the service contract holder within a reasonable period of time from the date of purchase. (b) A provider may, but is not required to, appoint an administrator or other designee to be responsible for any or all of the administration of service contracts and compliance with this chapter. (c) Each provider of service contracts sold in this state shall file a registration with the commissioner on a form prescribed by the commissioner. Each provider shall pay to the commissioner a fee in the amount of two hundred dollars ($200) annually. All fees collected shall be paid into a special revolving fund to be set up by the State Treasurer referred to as the "Service Contract Revolving Fund." The Service...
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23-1-158
Section 23-1-158 Bonds - Disposition of proceeds. (a) The proceeds of all bonds, other than refunding bonds, issued by the corporation, remaining after paying the expenses of their issuance, shall be turned in to the Treasury or shall be deposited into such account or accounts as specified in the resolution of the board of directors whereunder such bonds are authorized to be issued, and shall be subject to be drawn on upon the approval of the Department of Transportation solely for the purpose of constructing, reconstructing, and relocating public roads, bridges and approaches thereto, tunnels, other public roadway improvements, or work incidental or related thereto, in the State of Alabama, including the acquisition of property necessary for such construction, reconstruction, and relocation and incidental and related work. If action is necessary in order to comply with any federal legislation relating to federal aid in construction of roads, the corporation may authorize the...
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