35-12-72
Section 35-12-72 Presumption of abandonment. (a) Property is presumed abandoned if it is unclaimed by the apparent owner during the time set forth below for the particular property: (1) Traveler's checks, 15 years after issuance. (2) Money order, five years after issuance. (3) A demand, savings, or time deposit including a deposit that is automatically renewable, three years after the earlier of maturity, as extended from time to time, or the date of the last indication by the apparent owner of interest in the property. (4) Tangible and intangible property held in a safe deposit box or other safekeeping depository in this state in the ordinary course of the holder's business and proceeds resulting from the sale of the property permitted by other law, three years after expiration of the lease or rental period on the box or other depository. (5) Money or credits owed to a customer as a result of a retail business transaction, one year after the obligation accrued. (6) Property in an...
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40-20-50
Section 40-20-50 Collection of severance taxes; deposit into fund; distribution of investment income; trustees; escrow agents; limitations. Any laws or parts of laws to the contrary notwithstanding, any annual privilege tax levied upon persons engaging in the business of producing or severing oil or gas or other hydrocarbons from the soil or waters of this state measured by the gross value of such oil or gas or other hydrocarbons and which tax is applicable only in a particular county and under which collections were being made on January 1, 1987, or which shall hereafter be levied pursuant to legislative act, shall be continued and collected only as herein prescribed: (1) All revenues collected from such local severance taxes shall, beginning the first day of the month following August 3, 1987, be paid into the general fund of the county exclusively for transfer and deposit into a trust fund hereby established until the total sum of $15,000,000 in severance tax revenues of the type...
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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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41-10-751
Section 41-10-751 Definitions. When used in this article, the following terms shall have the following meanings, unless the context clearly indicates otherwise: (1) ALABAMA TRUST FUND. The trust fund of the state created under Amendment 450 to the Constitution of Alabama of 1901, and appearing as ยง219.02 of the Official Recompilation of the Constitution of Alabama 1901, as amended. (2) APPROPRIATED FUNDS. The BP settlement revenues deposited in the special fund to the extent such revenues are appropriated to the authority pursuant to Section 41-10-759. (3) AUTHORITY. The Alabama Economic Settlement Authority authorized to be established pursuant to Section 41-10-752. (4) BONDS. Those bonds, including refunding bonds, issued pursuant to this article. (5) BP SETTLEMENT REVENUES. Revenues received by the state in settlement of economic damages claims of the state against BP Exploration and Production, Inc. and any of its corporate affiliates arising out of the Deepwater Horizon oil spill...
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45-30-250.04
Section 45-30-250.04 Board of directors. (a) The authority shall be governed by a board of directors. All powers of the authority shall be exercised by the board or pursuant to its authorization. (b) The initial board of directors shall consist of the three citizens appointed to incorporate the authority and six other directors to be appointed as follows: (1) In addition to the appointment of one of the incorporators who shall serve an initial term of three years, the Franklin County Commission shall appoint one additional director who shall serve an initial term of three years. (2) The county highway engineer shall serve as a perpetual member on the board of directors. (3) With each incorporated municipality, regardless of size, having one vote in the selection, the elected mayors of all incorporated municipalities in Franklin County, as a group, shall appoint one director who shall serve an initial term of two years. (4) The chairs of the existing water authorities in Franklin County...
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9-8A-1
Section 9-8A-1 Definitions. The following words and phrases used in this chapter, and others evidently intended as the equivalent thereof, shall, in the absence of clear implication herein otherwise, have the following respective meanings: (1) ALLOCATED FUNDS. That portion of the funds appropriated to the commission that are allocated by the commission to the soil and water conservation district in each county of the state. (2) AUTHORIZED INVESTMENTS. Bonds or other obligations of, or guaranteed by, the United States of America or the state, or interest bearing bank and savings and loan association deposits or obligations, obligations of any agency of the United States of America, any obligations in which a state chartered savings and loan association may invest its funds, any agreement to repurchase any of the foregoing, or any thereof. (3) COMMISSION. The Alabama Agricultural and Conservation Development Commission organized pursuant to the provisions of the Constitution of Alabama...
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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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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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36-17-3
Section 36-17-3 Duties generally. The powers, functions, and duties of the Treasurer shall be: (1) To receive all moneys due the state and deposit them in the proper accounts. (2) To perform the functions and duties now authorized by law with respect to state depositaries. (3) To pay all warrants duly executed by the Comptroller, and to pay for funds electronically transferred by the Comptroller in accordance with Section 41-4-50, upon the determination that there is sufficient money for the payment thereof in the fund upon which they are drawn. No warrant executed by any other person shall be honored. All checks drawn on the state funds shall be signed by the Treasurer, or the chief clerk in the office, and countersigned by the special assistant in the office of the Treasurer, who is appointed by the Treasurer with the approval of the Governor. Another employee may be designated by the Treasurer, with the approval of the Governor, to countersign checks in the absence of the special...
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26-2A-152
Section 26-2A-152 Powers of conservator in administration. (a) Subject to limitation provided in Section 26-2A-154, a conservator shall have all of the powers conferred in this section and any additional powers now or hereafter conferred by law on trustees in this state. In addition, a conservator of the estate of an unmarried minor as to whom no one has parental rights, has the powers of a guardian of a minor described in Section 26-2A-78 until the minor attains the age of 19 years, or the disabilities of nonage have been removed, but the parental rights so conferred on a conservator do not preclude appointment of a guardian as provided in Division 1 of this article. (b) A conservator without court authorization or confirmation may invest and reinvest funds of the estate as would a trustee. (c) A conservator, acting as a fiduciary in efforts to accomplish the purpose of the appointment, may act without court authorization or confirmation, to (1) Collect, hold, and retain assets of the...
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