|
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-12-72.htm - 8K - Match Info - Similar pages
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
11-47-224
Section 11-47-224 Bonds of an authority - Payment out of revenues; security for payment; mortgages,
security interests, or assignments as security for payment. (a) Any bonds issued by an authority
shall be revenue bonds and shall be payable solely out of the revenues of the authority as
may be designated in the proceedings of the board under which the bonds are authorized to
be issued. (b) As security for payment of the principal of and interest on any bonds issued
or assumed by it, an authority may enter into a contract or contracts, and adopt resolutions
or other proceedings containing provisions constituting a part of the contract or contracts
with the holders of the bonds, pertaining to, among other things, the following: (1) Pledging
all or any part of the revenues of the authority to secure the payment of the bonds. (2) Pledging,
assigning, or mortgaging all or any part of the assets of the authority to secure the payment
of the bonds. (3) The creation of reserve, sinking, or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-47-224.htm - 5K - Match Info - Similar pages
11-89A-10
Section 11-89A-10 Security for payment of bonds; contracts and agreements to secure. (a) Any
bonds issued by the authority shall be revenue bonds and shall be payable solely out of such
revenues of the authority as may be designated in the proceedings of the board under which
they shall be authorized to be issued. Any such proceedings may provide that the bonds therein
authorized shall be payable solely out of the revenues derived from the operation of any facility
or facilities owned by the authority, regardless of the fact that those bonds may have been
issued with respect to or for the benefit of a certain facility or facilities of the authority.
(b) As security for payment of the principal and interest on any bonds issued or assumed by
it, any authority may enter into a contract or contracts, and adopt resolutions or other proceedings
containing provisions constituting a part of the contract or contracts with the holders of
such bonds, pertaining to, among other things, the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-89A-10.htm - 5K - Match Info - Similar pages
6-5-248
Section 6-5-248 Who may redeem; priorities. (a) Where real estate, or any interest therein,
is sold, it may be redeemed by: (1) Any debtor, including any surety or guarantor. (2) Any
mortgagor, even if the mortgagor is not personally liable for payment of a debt. (3) Any junior
mortgagee, or its transferee. (4) Judgment creditor, or its transferee. (5) Any transferee
of the interests of the debtor or mortgagor, either before or after the sale. A transfer of
any kind made by the debtor or mortgagor will accomplish a transfer of the interests of that
party. (6) The respective spouses of all debtors, mortgagors, or transferees of any interest
of the debtor or mortgagor, who are spouses on the day of the execution, judgment, or foreclosure
sale. (7) Children, heirs, or devisees of any debtor or mortgagor. (b) All persons named or
enumerated in subdivisions (a)(1) through (a)(7) may exercise the right of redemption granted
by this article within 180 days from the date of the sale for...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/6-5-248.htm - 5K - Match Info - Similar pages
11-50A-8
Section 11-50A-8 Powers of the authority. In addition to other powers granted the authority
by this chapter, it shall have all powers consistent with the purposes of the authority as
set forth in Section 11-50A-3, which are necessary or convenient to carry out and effectuate
the purposes and provisions of this chapter, including, but without limiting the generality
of the foregoing, the following enumerated powers, which shall be exercised by the authority
consistently with the provisions of Section 11-50A-3: (1) To sue and be sued and to prosecute
and defend in any court having jurisdiction of the subject matter and of the parties thereto;
(2) To adopt and alter a corporate seal; (3) To make and alter at pleasure all needful bylaws,
rules, and regulations for the transaction of its business and the control of its property
and affairs; (4) To have the same right of eminent domain through condemnation conferred by
Section 10-5-1, or any subsequent statute of similar import; provided...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50A-8.htm - 13K - Match Info - Similar pages
11-92B-10
Section 11-92B-10 Powers and duties of authority. An authority shall have the following powers
and duties together with all powers and duties incidental thereto or necessary to the discharge
thereof: (1) To sue or be sued and to prosecute and defend in any court of competent jurisdiction.
(2) To adopt and to use a corporate seal and to alter the seal at pleasure. (3) To adopt and
alter bylaws for the regulation and conduct of its affairs and business. (4) With respect
to property within the operational area of the authority, to acquire, receive, and take title
to by purchase, gift, lease, devise, or otherwise, to hold, keep, improve, maintain, and impose
restrictive covenants and land use controls, to engage in environmental remediation and restoration
efforts as required under applicable agreements with the United States Department of Defense,
to equip, furnish, develop, and to transfer, convey, donate, sell, lease, grant options to,
assign, encumber with easements and mortgages and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-92B-10.htm - 7K - Match Info - Similar pages
11-97-10
Section 11-97-10 Security for payment of bonds; contracts and agreements to secure. (a) Bonds
issued by any corporation may, as its board may deem advisable, be either general obligations
of such corporation or limited obligations payable only out of certain specified revenues
or assets of such corporation; provided, that any corporation may enter into contracts with
the holders of any of its bonds preventing such corporation from thereafter issuing general
obligation bonds or limiting the amount of such bonds that may thereafter be issued. To the
extent permitted by any contracts with the holders of outstanding bonds and any other contractual
obligations or requirements, any corporation may pledge any of its revenues or mortgage or
assign any of its assets, whether real or personal and whether tangible or intangible, to
secure the payment of any of its bonds. (b) As security for payment of the principal of and
the interest and premium, if any, on any bonds issued or assumed by it, any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-97-10.htm - 8K - Match Info - Similar pages
26-1A-114
Section 26-1A-114 Agent's duties. (a) Notwithstanding provisions in the power of attorney,
an agent that has accepted appointment shall: (1) act in accordance with the principal's reasonable
expectations to the extent actually known by the agent and, otherwise, in the principal's
best interest; (2) act in good faith; and (3) act only within the scope of authority granted
in the power of attorney. (b) Except as otherwise provided in the power of attorney, an agent
that has accepted appointment shall: (1) act loyally for the principal's benefit; (2) act
so as not to create a conflict of interest that impairs the agent's ability to act impartially
in the principal's best interest; (3) act with the care, competence, and diligence ordinarily
exercised by agents in similar circumstances; (4) keep a record of all receipts, disbursements,
and transactions made on behalf of the principal; (5) cooperate with a person that has authority
to make health care decisions for the principal to carry out...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/26-1A-114.htm - 4K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-10-96.htm - 2K - Match Info - Similar pages
|