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19-3B-1304
Section 19-3B-1304 Trusts for employees or self-employed persons. (a) A trust of real or personal
property or real and personal property combined: (1) which is created by an employer as part
of a stock bonus plan, pension plan, disability or death benefit plan, or profit-sharing plan,
for the exclusive benefit of some or all his or her employees, to which contributions are
made by such employer or employees, or both, for the purpose of distribution to such employees
the earnings of the principal, or both earnings and principal of the fund so held in trust;
or (2) which is created by a self-employed person or group of self-employed persons and: a.
which is part of a retirement, disability, or death benefit plan for such self-employed person
or persons; and b. contributions to which are deductible, in whole or in part, from gross
income for federal income tax purposes under the internal revenue laws of the United States;
or (3) which is created for the collective investment of the funds...
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27-25-3
Section 27-25-3 Definitions. For the purposes of this chapter, the following terms shall have
the following meanings: (1) ABSTRACT OF TITLE. A compilation or summary of all instruments
of public record of whatever kind or nature which in any manner affect title to a specified
parcel of real property. (2) BUSINESS ENTITY. A domestic entity properly formed and existing
under Title 10A. (3) COMMISSIONER. The Commissioner of the Alabama Department of Insurance.
(4) INDIVIDUAL. A natural person. (5) NAIC. The National Association of Insurance Commissioners,
its subsidiaries and affiliates, and any successor thereof. (6) OPINION OF TITLE. A written
expression of the status of title, including, but not limited to, the validity or invalidity
thereof, based upon an examination by an attorney at law, who is licensed to practice law
in this state, of instruments of public record or an abstract thereof affecting title to a
specified parcel of real property to ascertain the history and present...
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35-19-4
Section 35-19-4 Interest holders; rights of holders and agencies; priority. (a) An environmental
covenant must meet all of the following requirements: (1) State that the instrument is an
environmental covenant executed pursuant to this chapter. (2) Contain a legally sufficient
description of the real property subject to the covenant. (3) Describe the activity and use
limitations on the real property. (4) Identify every holder. (5) Be signed by the director,
every holder, and unless waived by the agency, every owner of the fee simple of the real property
subject to the covenant. (6) Identify the name and location of any administrative record for
the environmental response project reflected in the environmental covenant. (b) In addition
to the information required by subsection (a), an environmental covenant may contain other
information, restrictions, and requirements agreed to by the persons who signed it, including
any of the following: (1) Requirements for notice following transfer...
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35-4-92
Section 35-4-92 Transfers of standing timber, trees, and cutting rights. Except as may be otherwise
provided by Article 9 of the Uniform Commercial Code, all conveyances, mortgages, and other
instruments executed hereafter for the purpose of transferring standing timber or trees, or
cutting rights with respect thereto, or an interest therein, whether such timber, trees, or
rights shall be real or personal property, shall be recorded in the county in which such timber
and trees are located in the same manner and books and under the same conditions that conveyances
of real property are recorded in such county and with like effect; and no such instrument
need be recorded elsewhere. Unless an instrument effecting such transfer and herein required
to be recorded is so recorded, any such transfer shall be inoperative and void as against
purchasers, mortgagees, and judgment creditors without notice. (Acts 1951, No. 629, p. 1084;
Acts 1965, No. 549, p. 811.)...
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18-1A-75
Section 18-1A-75 Recording notice of pending action; amendment of complaint after notice filed;
notice of dismissal. (a) After commencement of a condemnation action, the plaintiff shall
cause a notice of the pendency of the proceedings to be recorded in the office of the probate
court in each county in which any real property described in the complaint is located. (b)
The notice shall contain: (1) The title of the action and the probate court, docket number
if available, and date of filing of the complaint; (2) A legal description of the real property
sought to be taken as described in the complaint; and (3) The name of each plaintiff and each
defendant designated in the complaint. (c) The notice shall be filed for record and indexed
in the same manner as a notice of lis pendens in other cases. (d) If after the filing of a
notice the complaint in the action is amended to enlarge the quantity of, or nature of the
interest in, the real property to be taken, or to add or substitute...
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35-10-96
Section 35-10-96 Affidavit of satisfaction requirements. An affidavit of satisfaction of a
security instrument must do all of the following: (1) Identify the original parties to the
security instrument, the secured creditor, and the recording data for the security instrument.
(2) State the basis upon which the person signing the affidavit is a satisfaction agent including,
without limitation, that the person signing the affidavit is authorized to sign on behalf
of, and to bind, the insurance company acting as satisfaction agent. (3) State that the person
signing the affidavit has determined that the real property described in the security instrument
is residential real property or was residential real property at the time the security instrument
was made. (4) State that the person signing the affidavit determined that the secured creditor
has received full payment or performance of the secured obligation and, if the security instrument
is an equity line security instrument, that the...
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13A-9-12
Section 13A-9-12 Offering false instrument for recording; nullifaction or expungement from
record. (a) A person commits the crime of offering a false instrument for recording if, knowing
that a written instrument relating to or affecting real or personal property, or an interest
therein, or directly affecting contractual relationships contains a material false statement
or material false information, and with intent to defraud, he presents or offers it to a public
office or a public employee, with the knowledge that it will be registered, filed or recorded
or become a part of the records of that public office or public employee. (b) Offering a false
instrument for recording is a Class A misdemeanor. (c) A person commits the crime of offering
a false instrument for recording against a public servant if the person offers, for recording,
a written instrument which relates to or affects the real or personal property, or an interest
therein, or a contractual relationship of a public...
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10A-30-1.09
Section 10A-30-1.09 Powers; conveyances; exemption from liability; applicable to professional
associations formed prior to January 1, 1984. A professional association organized pursuant
to the provisions of this article may contract in its own name, take, hold, and sell real
and personal property in its own name, independent of its members, and sue and be sued as
independent entities as now provided by law. Any conveyance in the name of the professional
association to a third person executed by the president and attested by the secretary shall
be conclusively presumed to be properly executed and shall divest all right, title, and interest
of the professional association, its members, and the board of governors thereof. The assets
of a professional association shall not be liable to attachment for the individual debts of
its members or shareholders. (Acts 1961, No. 865, p. 1349, §14; §10-10-9; amended and renumbered
by Act 2009-513, p. 967, §370.)...
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11-40-68
Section 11-40-68 Foreclosure sale; form of deed. (a) Following the hearing and order of the
court in accordance with Section 11-40-66, the court shall cause a sale of the real property
to be advertised and conducted by the court in a manner similar to that procedure contemplated
by Section 40-10-15. The sale shall not occur earlier than 45 days following the date of the
order of the court. (b) Except as otherwise authorized by law, the minimum bid price for the
sale of the real property shall be the redemption amount. (1) In the absence of any bid higher
than the minimum bid price, the court or its designee shall bid in for the real property on
behalf of the Class 2 municipality or its designee in an amount equal to the minimum bid price,
thereby causing the Class 2 municipality to become the purchaser at the sale pursuant to Section
11-40-66. (2) A bid in on behalf of the Class 2 municipality or its designee shall be tendered
as a credit bid for that part of the minimum bid price...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-40-68.htm - 7K - Match Info - Similar pages
5-19-4
Section 5-19-4 Additional charges for default or deferral; prepayment; renewal or refinancing;
real property transactions. (a) When a scheduled payment in a consumer credit transaction
is in default 10 days or more, the creditor may charge and collect a late charge not exceeding
the greater of eighteen dollars ($18) or five percent of the amount of the scheduled payment
in default, not to exceed one hundred dollars ($100). The late charge may be collected only
once on any scheduled payment, regardless of the period during which the scheduled payment
remains in default. (b) With respect to the deferral of one or more wholly unpaid scheduled
payments in a consumer credit transaction, in which the finance charge was determined by the
precomputed method, the creditor may collect, by agreement with the debtor either before or
after default, an additional charge for each full month that any wholly unpaid scheduled payments
are outstanding after the due date of each scheduled payment equal to...
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