16-25-150
Section 16-25-150 Participation in plan. (a) As governed by this subsection, there exists as a part of this retirement system an optional account known as the Deferred Retirement Option Plan, which may be cited as "DROP." The purpose of DROP is to allow, contractually, in lieu of immediate withdrawal from service and receipt of a retirement allowance, continued employment for a specific period of time, coupled with the deferral of receipt of a retirement allowance until the end of the period of participation, at which time the member shall withdraw from service. (b) Participation in DROP is an option available to any member of this retirement system who meets all of the following requirements: (1) Has at least 25 years of creditable service exclusive of sick leave. (2) Is at least 55 years of age. (3) Is eligible for service retirement. (c) An election to participate in DROP may be made in one year increments not to exceed five years, nor to be less than three years. A member may...
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19-3B-816
Section 19-3B-816 Specific powers of trustee. (a) Without limiting the authority conferred by Section 19-3B-815, a trustee may: (1) collect trust property and accept or reject additions to the trust property from a settlor or any other person, including, but not being limited to, the authority to receive, collect, hold, and retain common or preferred stock or other interests in the trustee or any related party; (2) acquire or sell property, for cash or on credit, at public or private sale; (3) exchange, partition, or otherwise change the character of trust property; (4) deposit trust money in an account in a regulated financial-service institution; (5) borrow money, with or without security, and mortgage or pledge trust property for a period within or extending beyond the duration of the trust; (6) with respect to an interest in a proprietorship, partnership, limited liability company, business trust, corporation, or other form of business or enterprise, continue the business or other...
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11-89C-4
Section 11-89C-4 Powers of public corporation; requirements for development or adoption of rules, procedures, ordinances, etc. (a) When expressly required to comply with storm water laws, any public corporation created pursuant to this chapter shall have the following powers: (1) To establish, maintain, and operate an organizational structure pursuant to this chapter, its original or amended certification, and its bylaws or other rules of procedure, that will enable it to implement the storm water laws for and on behalf of any governing body that exercises the option to participate in or with a public corporation, provided that no new or greater authorities or powers other than those specifically granted to the governing bodies are conferred upon any public corporation formed pursuant to this chapter. Except for the authority provided in subdivision (20), authority to enforce the storm water laws is retained wholly and exclusively to the governing bodies and may not be further...
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36-27-170
Section 36-27-170 Participation in plan. (a) As governed by this subsection, there exists as a part of this retirement system, an optional account known as the Deferred Retirement Option Plan, which may be cited as "DROP." The purpose of DROP is to allow, contractually, in lieu of immediate withdrawal from service and receipt of a retirement allowance, continued employment for a specific period of time, coupled with the deferral of receipt of a retirement allowance until the end of such period of participation, at which time the member shall withdraw from service. (b) Participation in DROP is an option available to any member of this retirement system who meets all of the following: (1) Has at least 25 years of creditable service exclusive of sick leave. (2) Is at least 55 years of age, or in the case of a state police member, is at least 52 years of age. (3) Is eligible for service retirement. (c) An election to participate in DROP may be made in one year increments not to exceed five...
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45-37A-51.195
Section 45-37A-51.195 New participants. (a) Credit for service with the county or other municipality and with the city as a temporary employee hired on or after September 1, 1969, but before July 1, 2009. (1) In the event a qualified employee becoming a participant herein on or after September 1, 1969, shall have, prior to becoming a participant, been employed (i) by the county under the provisions of a merit system applicable to the county, (ii) by any other municipality in the county under the provisions of the merit system applicable to such municipality, or (iii) by the city under the provisions of the merit system applicable to the city as a temporary employee, he or she may receive credit for the prior service by paying to the city director of finance within 60 days after a verified, written calculation has been provided to the participant in an amount to be determined as follows: a. There shall first be determined the salary paid the participant each month of the prior service...
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11-95-7
Section 11-95-7 Powers of corporation. In addition to all other powers granted elsewhere in this chapter, a corporation shall have the following powers, together with all powers incidental thereto or necessary to the discharge thereof in corporate form: (1) To have succession by its corporate name for the duration of time (which may be perpetuity, subject to the provisions of Section 11-95-19) specified in its certificate of incorporation; (2) To sue and be sued in its own name in civil suits and actions, and to defend suits against it; (3) To adopt and make use of a corporate seal and to alter the same at pleasure; (4) To adopt and alter bylaws for the regulation and conduct of its affairs and business; (5) To acquire, construct, equip, enlarge, improve, maintain, and operate hospital facilities in the authorizing county and to do all things necessary to that end; (6) To receive, acquire, take and hold, whether by purchase, gift, lease, devise, or otherwise, real and personal property...
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25-14-9
Section 25-14-9 Written contract; rights and duties of clients; employees, and professional employer organizations. (a) All professional employer organization arrangements shall have a written contract between the client and the professional employer organization recognizing the rights, responsibilities, and duties of each party. The contract shall disclose to the client the services to be rendered by the professional employer organization, including the total administrative fees charged for professional employer organization services, the respective rights and obligations of the parties, and shall provide the following: (1) The professional employer organization reserves a right of direction and control over contract employees and exercises that right in the context of the need to do so according to the terms and conditions of the professional employment agreement. The client, however, as an employer, may retain sufficient direction and control over covered employees necessary to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/25-14-9.htm - 12K - Match Info - Similar pages
38-9B-5
Section 38-9B-5 AFT Corporation, Trust, and Charitable Trust. THIS SECTION WAS AMENDED BY ACT 2018-36 IN THE 2018 REGULAR SESSION, EFFECTIVE JANUARY 31, 2018. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) The board of trustees shall establish and administer the AFT Corporation. The board of trustees shall execute all documents necessary to establish and administer the AFT Corporation including, but not limited to, documents to form a not-for-profit corporation and to qualify as an organization pursuant to Section 501(c)(3) of the United States Internal Revenue Code. (b) The AFT Corporation shall establish the AFT Trust and the AFT Charitable Trust, and the board of trustees shall administer the AFT Trust and the AFT Charitable Trust through the AFT Corporation. The board of trustees and the AFT Corporation shall take all steps necessary to satisfy all federal and state laws, and all regulations, rules, and policies established by the federal Social Security Administration to ensure...
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45-8A-22.109
Section 45-8A-22.109 Contributions to the trust. (a) The secretary-treasurer shall receive contributions to the trust that shall consist of the following: (1) All of the money, securities, things of value, and assets belonging to any similar fund now being maintained by the City of Anniston. (2) All money or properties that may be given or donated by any person, firm, association, or corporation for the uses and purposes for which the trust is created, and the retirement board may take by gift, grant, devise, or bequest, any money, personal property or real estate, or any interest therein or any right of property for the benefit of the trust. (3) Participant Contributions. a. Employee Contributions. Effective prior to October 1, 2002, 10 percent of each participant's monthly compensation, including overtime and any other pay, which shall be deducted from such compensation and paid to the secretary-treasurer on or before the tenth day each month next succeeding the month in which such...
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45-8A-22.118
Section 45-8A-22.118 Maximum benefits; limitations; adjustments. (a) Annual Benefit and Final Regulations Under Internal Revenue Code Section 415. (1) Annual Benefit. For purposes of this section, "annual benefit" means the benefit payable annually under the terms of the plan, exclusive of any benefit not required to be considered for purposes of applying the limitations of Internal Revenue Code Section 415 to the plan, in the form of a straight life annuity with no ancillary benefits. If the benefit is payable in any other form, the annual benefit shall be adjusted to the equivalent of a straight life annuity pursuant to subsection (c). (2) Final Regulations Under Internal Revenue Code Section 415. Notwithstanding anything in this section to the contrary, the following provisions apply beginning on or after January 1, 1976, except as otherwise provided in this section. a. Incorporation by Reference. The limitations, adjustments, and other requirements prescribed in the plan shall...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-8A-22.118.htm - 30K - Match Info - Similar pages
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