10A-5A-8.02
Section 10A-5A-8.02 Death or disqualification of member. (a) In the case of a limited liability
company performing professional services, upon the death of a member, upon a member becoming
a disqualified person, or upon a transferable interest being transferred by operation of law
or court decree to a disqualified person, the transferable interest of the deceased member
or of the disqualified person may be transferred to a qualified person and, if not so transferred,
subject to Section 10A-5A-4.06, shall be purchased by the limited liability company as provided
in this section. (b) If the price of the transferable interest is not fixed by the limited
liability company agreement, the limited liability company, within six months after the death
or 30 days after the disqualification or transfer, as the case may be, shall make a written
offer to pay to the holder of the transferable interest a specified price deemed by the limited
liability company to be the fair value of the transferable...
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10A-8A-10.03
Section 10A-8A-10.03 Death or disqualification of partner. (a) In the case of a limited liability
partnership performing professional services, upon the death of a partner, upon a partner
becoming a disqualified person, or upon a transferable interest being transferred by operation
of law or court decree to a disqualified person, the transferable interest of the deceased
partner or of the disqualified person may be transferred to a qualified person and, if not
so transferred, subject to Section 10A-8A-4.09, shall be purchased by the limited liability
partnership as provided in this section. (b) If the price of the transferable interest is
not fixed by the partnership agreement, the limited liability partnership, within six months
after the death or 30 days after the disqualification or transfer, as the case may be, shall
make a written offer to pay to the holder of the transferable interest a specified price deemed
by the limited liability partnership to be the fair value of the...
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43-8-1
Section 43-8-1 General definitions. Subject to additional definitions contained in the subsequent
articles which are applicable to specific articles or divisions, and unless the context otherwise
requires, in this chapter, the following words shall have the following meanings: (1) BENEFICIARY.
As it relates to trust beneficiaries, includes a person who has any present or future interest,
vested or contingent, and also includes the owner of an interest by assignment or other transfer
and as it relates to a charitable trust, includes any person entitled to enforce the trust.
(2) CHILD. Includes any individual entitled to take as a child under this chapter by intestate
succession from the parent whose relationship is involved and excludes any person who is only
a stepchild, a foster child, a grandchild or any more remote descendant. (3) COURT. The court
having jurisdiction in matters relating to the affairs of decedents. This court in Alabama
is known as the probate court. (4) DAYS. That...
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27-44-8
Section 27-44-8 Powers and duties of association. (a) If a member insurer is an impaired insurer,
the association may, in its discretion and subject to any conditions imposed by the association
that do not impair the contractual obligations of the impaired insurer, and that are approved
by the commissioner: (1) Guarantee or reinsure, or cause to be guaranteed, assumed, or reinsured,
any or all of the covered policies of the impaired insurers. (2) Provide such moneys, pledges,
notes, guarantees, or other means as are proper to effectuate subdivision (1), and assure
payment of the contractual obligations of the impaired insurer pending action under subdivision
(1). (b) If a member insurer is an insolvent insurer, the association shall, in its discretion
and subject to the approval of the commissioner, do either of the following: (1)a. Guarantee,
assume, or reinsure, or cause to be guaranteed, assumed, or reinsured, the covered policies
of the insolvent insurer. b. Assure payment of the...
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43-2-254
Section 43-2-254 Enforcement of decree or judgment when administrator adversely interested.
When such administrator ad litem is appointed on account of the adverse interest of the executor
or administrator, and the decree or judgment is rendered against such executor or administrator,
no execution, writ of possession or other writ for the enforcement of the decree or judgment
shall issue thereon, but in such decree or judgment the court shall require the executor or
administrator to charge himself, as executor or administrator of the estate represented by
the administrator ad litem, with the money or property recovered of him by the administrator
ad litem; but when the decree or judgment is not against the executor or administrator, execution,
writ of possession, or other writ for the enforcement of the judgment or decree, shall issue
thereon in favor of such executor or administrator. (Code 1876, §2628; Code 1886, §2287;
Code 1896, §356; Code 1907, §2822; Code 1923, §6061; Code...
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43-2-252
Section 43-2-252 Execution on money decree or judgment. When such decree or judgment is for
the recovery of money and the estate has no executor or administrator, execution shall issue
thereon in favor of the administrator ad litem for the use of the estate, and the money, when
collected, shall be paid by the officer to the judge of the probate court, or to the clerk
or register of the circuit or other court having jurisdiction, from which the execution issued.
The party against whom such decree or judgment is rendered may pay the same to such judge,
clerk or register, before the issue of execution, whose receipt to him therefor shall be a
full discharge of such decree or judgment. (Code 1876, §2626; Code 1886, §2285; Code 1896,
§354; Code 1907, §2820; Code 1923, §6059; Code 1940, T. 61, §167.)...
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43-2-810
Section 43-2-810 Continuance upon showing of insolvency. During the progress of any civil action
against an executor or administrator, he may show that such estate has been reported insolvent;
and, upon such showing, the case must be continued until the final disposition of such report.
(Code 1852, §1858; Code 1867, §2207; Code 1876, §2579; Code 1886, §2249; Code 1896, §317;
Code 1907, §2793; Code 1923, §6032; Code 1940, T. 61, §419.)...
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43-2-519
Section 43-2-519 Notice of annual or partial settlement; conclusiveness of order or decree;
reopening account. Whenever any administrator or executor shall file any annual, partial or
final settlement in any court having jurisdiction thereof, the court shall, at the request
of such administrator or executor, require that notice thereof be given in the same manner
as required by law in cases of final settlements, and any order or decree of the court on
such settlement after such notice shall be final and conclusive as to all items of receipts
and disbursements and other transactions and matters shown therein, and as to all fees and
compensation fixed or allowed to any such administrator, executor or attorney, and appeals
therefrom shall and must be taken in the manner provided for from any other final decrees
of such court. Thereafter, at any time prior to final settlement, the account may be reopened
by the court on motion or petition of the administrator, executor, beneficiary or...
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43-2-707
Section 43-2-707 Declaration of insolvency. If no person contests the correctness of the report
or if the issue is decided against contestant, the court must declare the estate insolvent
and must make an order for the executor or administrator on a day therein named, not less
than 30 nor more than 60 days therefrom, to appear and make a settlement of his administration;
and of such order, and of the day appointed for such settlement, notice must be given by the
judge of probate as is required by section 43-2-704. (Code 1852, §§1838, 1839; Code 1867,
§§2187, 2188; Code 1876, §§2559, 2560; Code 1886, §2230; Code 1896, §298; Code 1907,
§2763; Code 1923, §6002; Code 1940, T. 61, §389.)...
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43-2-139
Section 43-2-139 Inventory as evidence. In an action against an executor or administrator,
in which the fact of his having administered the estate of his testator or intestate, or any
part thereof, comes in issue, and the inventory of the property of the deceased, filed by
him, is given in evidence, the effect of the same may be repelled by evidence: (1) That any
property has been omitted in such inventory, or was not returned therein at its full value,
or since the filing thereof has increased in value; or (2) That such property has perished,
or been lost without the fault of such executor or administrator, or that it has been fairly
sold, according to law, at a less price than the value so returned, or that, since the return
of the inventory, such property has deteriorated or decreased in value; and in such action
the defendant cannot be charged for anything in action specified in the inventory, unless
it appears that it was, or might have been, collected by the exercise of due...
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