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19-3-120
Section 19-3-120 Classes of authorized investments; repeal of conflicting statutes. (a) Unless
otherwise authorized or directed by the court having jurisdiction thereof, or by the will,
trust agreement or other document which is the source of authority, a trustee, executor, administrator,
guardian or one acting in any other fiduciary capacity, other than as a trustee governed by
the Alabama Uniform Trust Code, with the exercise of reasonable business prudence, in addition
to any other investments now permitted by law, may invest funds in securities or investments
which, at the time of the making or purchase thereof, are included in one or more of the following
classes: (1) Bonds or other interest-bearing obligations of the United States of America,
or payment of which the United States of America has guaranteed as to both principal and interest.
(2) Bonds issued by the Federal Land Bank, under the act of Congress of the United States
of America, designated as "the Federal Farm Loan...
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43-2-173
Section 43-2-173 Resignation and removal - Generally. (a) The general administrator may be
removed for the same causes as other administrators. Such removal may be made by the judge
of probate without notice, but the grounds thereof must be entered on the minutes of the court.
(b) The resignation of the office of general administrator shall not operate to discharge
the incumbent from the administration of any estate previously committed to his charge as
such general administrator; but he may proceed, notwithstanding such resignation, to administer
and finally settle the same, as if he had not resigned such office; and the sureties on his
bond as general administrator shall be liable for every act of maladministration on such estate
committed after his resignation, to the same extent as if he had not resigned; but he may
be removed from the administration of such estate for any of the causes prescribed by law,
or he may resign his administration thereon by leave of the probate court of...
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43-2-813
Section 43-2-813 Effect of order or decree of insolvency certified to other courts after judgment
or decree therein rendered. After judgment or decree has been rendered in any court against
an executor or administrator for any debt, damages or costs, if the estate is subsequently
declared insolvent, such personal representative may file a certified copy of the decree or
order of the probate court declaring such estate insolvent with the clerk or register of the
court in which such judgment or decree was rendered against the personal representative; whereupon,
it shall be the duty of such clerk or register to certify back to the probate court a copy
of such judgment or decree for payment in the probate court as other claims against insolvent
estates, after which no execution shall issue or be further enforced against such executor
or administrator or sureties personally by the court rendering such judgment or decree. (Code
1907, §2796; Code 1923, §6035; Code 1940, T. 61, §422.)...
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43-2-464
Section 43-2-464 Conveyance. After such confirmation, and when the whole of the purchase money
has been paid by the purchaser, or his heirs, or any other person holding under him, directly
or derivatively, on the application of such purchaser, or his heirs, or such other person
holding under him, or of the executor or administrator, the court must order a conveyance
to be made to such purchaser, or to his heirs, or to such other person holding under him,
as the case may be, by the executor or administrator, or such other person as the court may
appoint, conveying all the right, title and interest which the decedent had, at the time of
his death, in such lands; and such order shall operate to vest the right, title and interest
of the decedent in such purchaser, or his heirs, or such other person holding under him. (Code
1852, §1770; Code 1867, §2096; Code 1876, §2468; Code 1886, §2124; Code 1896, §179; Code
1907, §2644; Code 1923, §5874; Code 1940, T. 61, §268.)...
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43-2-47
Section 43-2-47 Special administrator ad colligendum. (a) The judge of probate may, in any
contest respecting the validity of a will, or for the purpose of collecting the goods of a
deceased, or in any other case in which it is necessary, appoint a special administrator,
authorizing the collection and preservation by him of the goods of the deceased until letters
testamentary or of administration have been duly issued. (b) Every such special administrator
has authority to collect the goods and chattels of the estate and debts of the deceased, to
give receipts for moneys collected, to satisfy liens and mortgages paid to him and to secure
and preserve such goods and chattels at such expense as may be deemed reasonable by the probate
court; and for such purposes, he may maintain civil actions as administrator. (c) Such special
administrator may also, under the direction of the probate court, sell such goods as are perishable
or wasting, after the same have been appraised, upon such notice...
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10A-4-3.02
Section 10A-4-3.02 Death or disqualification of shareholder. (a) Upon the death of a shareholder
of a domestic professional corporation, or if a shareholder of a domestic professional corporation
becomes a disqualified person, or if shares of a domestic professional corporation are transferred
by operation of law or court decree to a disqualified person, the shares of the deceased shareholder
or of the disqualified person may be transferred to a qualified person and, if not so transferred,
shall be purchased or redeemed by the domestic professional corporation to the extent of funds
which may be legally made available for the purchase. (b) If the price for the shares is not
fixed by the governing documents of the domestic professional corporation or by private agreement,
the domestic professional corporation, 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 for
the shares at a specified price...
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19-3-21
Section 19-3-21 Contents of application; notice of hearing. The application must be in writing,
verified by affidavit, must state the nature and character of the trust and of the interest
of the applicant therein and must state, in the opinion of the applicant, said interest is,
or will be endangered, if bond with sureties is not required of such trustee; and, on the
filing of such petition, the register or clerk must appoint a day for the hearing thereof,
of which not less than five days' notice, by the service of summons to appear and answer,
must be given the trustee, if he resides in the state, and if he resides without the state,
notice must be given by publication for three successive weeks in some newspaper published
in the county, if there be such paper, and if there be not, in the paper published nearest
to such county. (Code 1886, §3550; Code 1896, §4153; Code 1907, §6055; Code 1923, §10392;
Code 1940, T. 58, §9.)...
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43-2-193
Section 43-2-193 Appointment of nonresident administrator. When any nonresident dies, leaving
assets in this state, if no application for letters of administration is made by a relative
or creditor entitled thereto, an administrator of his estate, appointed by the competent authority
of the state or territory of his domicile, shall be entitled to letters of administration
on such estate in this state, upon the production of the letters granted to him by the state
or territory of his intestate's domicile, duly certified as required by law, in preference
to any other person, upon his giving like bond and surety and upon the same terms, conditions
and requirements as are required by law of citizens of this state. The certified copy of his
foreign letters shall be filed and recorded in the office of the judge of probate issuing
letters in this state. (Code 1886, §2039; Code 1896, §82; Code 1907, §2558; Code 1923,
§5781; Code 1940, T. 61, §143.)...
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43-2-332
Section 43-2-332 When distributed share kept and worked with undivided portion of estate. When
a share or shares of real or personal property of any decedent is or are set apart or distributed
to any widow, heir at law or distributee of such decedent, and it appears to the satisfaction
of the court that it is to the interest of the parties interested in the estate that such
share or shares should be kept and worked together with such estate remaining undivided, the
probate court, upon the application of the executor or administrator, and of the owner or
owners of such share or shares, may order the executor or administrator to keep such share
or shares, and work the same, together with the estate remaining undivided, for a term not
exceeding 10 years; but such order must not be granted, if in conflict with the will of the
testator. (Code 1867, §2264; Code 1876, §2604; Code 1886, §2212; Code 1896, §280; Code
1907, §2745; Code 1923, §5984; Code 1940, T. 61, §200.)...
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43-2-629
Section 43-2-629 Disposition of personal estate of foreign decedent. (a) When administration
is taken out in this state on the estate of any person who, at the time of his death, was
an inhabitant of any other state or country, his personal estate, after the payment of debts
and charges on his estate, must be disposed of according to his last will, if probated in
this state and, if no such will is probated in this state, according to the law of the state
or country of which he was an inhabitant. (b) Upon the settlement of such estate and after
the payment of all debts for which the same is liable in this state, the residue of the personal
estate may be distributed and disposed of according to the provisions of subsection (a); or
it may be transmitted or paid over to the executor or administrator of the state or country
where the deceased had his domicile. (Code 1852, §§1826, 1827; Code 1867, §§2163, 2164;
Code 1876, §§2535, 2536; Code 1886, §§2153, 2154; Code 1896, §§221,...
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