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41-29-331
Section 41-29-331 Definitions. For the purposes of this division, the following terms shall
have the following meanings: (1) APPRENTICE. A worker who is at least 16 years of age, except
where a higher minimum age standard is otherwise fixed by law, who is employed to learn an
apprenticeable occupation as provided in 29 C.F.R. Part 29.4. (2) APPRENTICESHIP AGREEMENT.
A written agreement between an apprentice and either the apprenticeship program sponsor, or
an apprenticeship committee acting as agent for the apprenticeship program sponsor or sponsors,
which contains the terms and conditions of the employment and training of the apprentice in
conformance with 29 C.F.R., Subtitle A, Part 29 and Section 40-18-421. (3) APPRENTICESHIP
PROGRAM. A plan containing all terms and conditions for the qualification, recruitment, selection,
employment, and training of apprentices, as required under the federal guidelines in 29 C.F.R.,
Subtitle A, Parts 29 and 30, U.S.C. ยง50, for apprenticeship...
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25-4-134
Section 25-4-134 Procedures for collection of delinquent contribution payments. (a) Generally.
The contributions, interest, and penalties required to be paid under this chapter shall be
a first and prior lien upon all property and rights to property, real or personal, of any
employer subject to this chapter. The lien shall arise at the time the contribution report,
or the payment of the contributions, as the case may be, was due to have been filed with or
made to the Department of Labor. The secretary may file in the office of the judge of probate
of any county in this state a certificate which shall show the name of the department for
which it is filed, the amount and nature of the contributions, interest, and penalties for
which a lien is claimed together with any costs that may have accrued, the name of the employer
against whose property a lien for such contributions, interest, and penalties is claimed and
the date thereof. An error in the certificate of the amount shall not...
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25-4-51
Section 25-4-51 Rates of contributions, etc., by employers. (a) Contributions. Except as hereinafter
provided and subject to the provisions of Section 25-4-54, every employer shall pay contributions,
or payments in lieu of contributions, equal to the percentages of wages payable or paid as
hereinafter set out, with respect to employment by him. (1) With respect to employment during
calendar years after December 31, 1975, every employer who has been liable to the provisions
of this chapter during a period of time sufficient to have his rate of contribution determined
under the experience rating provisions of Section 25-4-54 shall pay contributions at the rate
prescribed thereby. (2) With respect to employment after December 31, 1975, every employer
who has not been liable to the provisions of this chapter for a sufficient length of time
to have his rate determined under the experience rating provisions of Section 25-4-54 shall
pay contributions at the rate of 2.70 percent of such wages...
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41-14-54
Section 41-14-54 Terms of linked deposits. (a) Only one linked deposit shall be made and be
outstanding at any one time to any one eligible borrower. (b) The linked deposit amount shall
not exceed seven hundred fifty thousand dollars ($750,000) per eligible borrower. (c) The
initial linked deposit term shall be two years. (d) The linked deposit may be renewed for
three additional two-year terms at the option of the Treasurer for a total duration of eight
years. (e) The linked deposit may not be made in support of a loan for the purpose of construction,
leasing, rental, real estate investment, other than for owner-occupied business premises of
the borrower, or speculation. (f) The linked deposit shall be returned to the Treasurer at
the earliest of (1) repayment of the linked deposit loan; or (2) expiration of the linked
deposit. (g) All linked deposit funds and interest shall be electronically disbursed and received
through the State Treasury. (h) Linked deposit interest shall be paid...
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34-21-98
Section 34-21-98 Provisions for default or other failure to honor a contract with the board.
(a) In the event that the participant defaults on or otherwise fails to honor a loan-repayment
contract with the board for any reason, the individual shall be liable for immediate repayment
of the total principal loan amount plus interest at the rate of eight percent, or the prime
lending rate, whichever is greater, accruing from the date of default or other failure to
honor the contract. In addition, the participant shall pay an additional penalty as specified:
(1) For default or other failure to honor a contract under which a year's worth of loans have
been received, a penalty equal to 20 percent of the total principal amount of the loan. (2)
For default or other failure to honor a contract under which two years' worth of loans have
been received, a penalty equal to 30 percent of the total principal amount of the loan. (3)
For default or other failure to honor a contract under which three or...
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41-14-33
Section 41-14-33 Contracts covering time deposits, open account; early withdrawal; apportionment;
payment and rate of interest. (a) The State Treasurer is authorized to enter into contracts
with the state depositories for the deposit of state funds in time deposits, open account,
having maturities of 91 days, six months, or one year; provided that any such contract for
a time deposit, open account, having a maturity of 91 days shall provide for early withdrawal
of funds upon written notice delivered at least 14 days (or the minimum period of time as
is prescribed by applicable banking regulation then in effect) prior to the date of withdrawal.
(b) The State Treasurer shall apportion the time deposits, open account, among state depositories,
giving preference to banks that are located in Alabama and giving due consideration to the
activities of the various banking accounts maintained therein, the reasonable value of the
banking services rendered or to be rendered the state by depositary...
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41-10-45.3
Section 41-10-45.3 Loans; maximum amount of project obligations; refinancing; investment of
funds. (a) The authority may provide loans to an eligible borrower to pay for all or part
of the eligible expenses of a qualifying project pursuant to a targeted county financing agreement.
A loan may have a maturity or maturities not exceeding 20 years from its date, may bear interest
or be interest free, may not exceed the maximum loan amount, and may contain terms not in
conflict with the provisions of this article, all as the governing body of the authority may
provide in the proceedings pursuant to which the loan is authorized to be issued. The authority
may provide, in its discretion, that the loan shall bear interest at a rate or rates fixed
at the time of the issuance thereof, or at fixed rates which may be changed from time to time
during the term of the loan in accordance with an objective procedure determined by the authority
at the time of the issuance of the loan, or at a floating...
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27-41-15
Section 27-41-15 Particular investments - Obligations of American and Canadian institutions
generally. An insurer may invest in secured and unsecured obligations bearing interest at
a fixed rate, with mandatory principal and interest being due at specified times, of any solvent
institution engaged in any lawful business and existing under the laws of the United States
or any state of the United States or Canada or any province thereof if the issuing institution
has not defaulted in the payment of principal and interest on any of its fixed interest obligations
during the five years preceding the date of investment; provided, that the obligations of
an institution which has not been in existence for a period of five years shall be deemed
eligible for investment under this section if the institution has not defaulted in the payment
of principal and interest on any of its fixed obligations during the period of its existence
and if such institution meets the other requisites of this...
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40-10-121
Section 40-10-121 Manner of redemption of land sold to state. THIS SECTION WAS AMENDED BY ACT
2018-494 IN THE 2018 REGULAR SESSION, EFFECTIVE JANUARY 1, 2020. TO SEE THE AMENDED VERSION,
SEE THE VERSION LABELED PENDING. (a) In order to obtain the redemption of land from tax sales
where the same has been heretofore or hereafter sold to the state, the party desiring to make
such redemption shall apply therefor as hereinafter provided and shall deposit with the judge
of probate of the county in which the land is situated the amount of money for which the lands
were sold, with interest thereon at the rate of 12 percent, together with the amount of all
taxes found to be due on such land since the date of sale, as provided herein, with interest
at the rate of 12 percent and all costs and fees due to officers. (b) Upon application to
the probate judge to redeem land where the same has been sold to the state for taxes, which
application shall be made on blank forms to be furnished by the Land...
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8-8-4
Section 8-8-4 Maximum rates of interest - Loans, etc., of $100,000 or more to State Board of
Education and trustees of state educational institutions. (a) The State Board of Education
and the trustees of all state institutions where education is a part of the program of the
institution as referred to in Section 16-3-28, when borrowing money in amounts of not less
than $100,000, may agree to pay such rate or rates of interest not to exceed a rate of 15
percent per annum for the loan or forbearance of money as such board of education or trustees
may determine, notwithstanding any law of this state otherwise prescribing or limiting such
rate or rates of interest. (b) As to any such agreement, neither such board of education or
trustees, nor any surety, guarantor, endorser, or any other person, firm, partnership, association,
or corporation which may become liable, in whole or in part, for the payment of the debt and
interest agreed to be paid thereon in accordance with the terms hereof,...
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