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19-3B-413
Section 19-3B-413 Cy pres. (a) Except as otherwise provided in subsection (b), if a particular
charitable purpose becomes unlawful, impracticable, impossible to achieve, or wasteful: (1)
the trust does not fail, in whole or in part; (2) the trust property does not revert to the
settlor or the settlor's successors in interest; and (3) the court may apply cy pres to modify
or terminate the trust by directing that the trust property be applied or distributed, in
whole or in part, in a manner consistent with the settlor's charitable purposes. (b) A provision
in the terms of a charitable trust that would result in distribution of the trust property
to a noncharitable beneficiary prevails over the power of the court under subsection (a) to
apply cy pres to modify or terminate the trust only if, when the provision takes effect: (1)
the trust property is to revert to the settlor and the settlor is still living; or (2) fewer
than 21 years have elapsed since the date of the trust's creation....
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8-21C-10
Section 8-21C-10 Coercion prohibited. (a) A manufacturer or distributor may not coerce or attempt
to coerce a dealer to do any of the following: (1) Purchase a product that the dealer did
not order. (2) Enter into an agreement with the manufacturer or distributor. (3) Enter into
an agreement that requires the dealer to submit its disputes to binding arbitration or otherwise
waive rights or responsibilities provided under this chapter. (b) As used in this section,
the term coerce includes, but is not limited to, threatening to terminate, cancel, or not
renew a manufacturer and dealer agreement without good cause or threatening to withhold product
lines the dealer is entitled to purchase pursuant to the manufacturer and dealer agreement
or delay product delivery as an inducement to amending the manufacturer and dealer agreement.
(Act 2011-636, p. 1529, §10.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-21C-10.htm - 1K - Match Info - Similar pages
11-89A-6
Section 11-89A-6 Board of directors of authority; election; terms of office; vacancies; qualifications;
expenses; meetings; notice and waiver; resolutions; impeachment. (a) Each authority shall
have a board of directors composed of the number of directors provided in the certificate
of incorporation, as most recently amended; provided, however, that in the case of any authority
in existence and incorporated prior to May 11, 1989, the board shall consist of three directors
who shall be elected by the governing body of the determining subdivision for staggered terms
in accordance with the provisions of law as it existed immediately prior to the aforesaid
effective date unless such authority shall otherwise amend its certificate of incorporation
pursuant to the provisions of Section 11-89A-5. Unless provided to the contrary in its certificate
of incorporation, all powers of the authority shall be exercised, and the authority shall
be governed, by the board or pursuant to its...
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37-2-14
Section 37-2-14 Temporary or emergency rates. (a) The commission, when deemed by it necessary
to prevent injury to business, or in the interest of the people of this state, in consequence
of any interstate rate wars, or inequality of interstate rates, or in case of any other emergency,
to be judged by the commission, may temporarily alter, amend, or suspend, except as otherwise
provided by law, any existing passenger rates, freight rates, schedules, and orders, on any
railroad or part of railroad in this state, and such rates made by the commission shall apply
on one or more of the railroads of this state, or any portion thereof, as may be directed
by the commission, and shall take effect at such time and remain in force for such length
of time as may be prescribed by the commission. (b) When circumstances require a reduction
in any rate or rates on less than statutory notice in order to permit an emergency to be met,
the Public Service Commission, or, if the commission is not in...
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7-2A-404
Section 7-2A-404 Substituted performance. (1) If without fault of the lessee, the lessor and
the supplier, the agreed berthing, loading, or unloading facilities fail or the agreed type
of carrier becomes unavailable or the agreed manner of delivery otherwise becomes commercially
impracticable, but a commercially reasonable substitute is available, the substitute performance
must be tendered and accepted. (2) If the agreed means or manner of payment fails because
of domestic or foreign governmental regulation: (a) the lessor may withhold or stop delivery
or cause the supplier to withhold or stop delivery unless the lessee provides a means or manner
of payment that is commercially a substantial equivalent; and (b) if delivery has already
been taken, payment by the means or in the manner provided by the regulation discharges the
lessee's obligation unless the regulation is discriminatory, oppressive, or predatory. (Acts
1992, 2nd Ex. Sess., No. 92-700, p. 92, §404.)...
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10A-9A-4.06
Section 10A-9A-4.06 Management rights of general partner. (a) Each general partner has equal
rights in the management and conduct of the limited partnership's activities and affairs.
Except as expressly provided in this chapter, any matter relating to the activities and affairs
of the limited partnership is decided exclusively by the general partner or, if there is more
than one general partner, by a majority of the general partners. (b) The consent of all of
the partners is necessary to: (1) amend the partnership agreement; (2) amend the certificate
of formation to add or delete a statement that the limited partnership is a limited liability
limited partnership; and (3) sell, lease, exchange, or otherwise dispose of all, or substantially
all, of the limited partnership's property, with or without the good will, other than in the
usual and regular course of the limited partnership's activities and affairs. (c) A limited
partnership shall reimburse a general partner for payments made...
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10A-1-2.13
Section 10A-1-2.13 Power to make guaranties. (a) In this section, "guaranty" means
a mortgage, pledge, security agreement, or other agreement making the domestic entity or its
assets secondarily liable for another person's contract, security, or other obligation. (b)
Unless otherwise provided by its governing documents or this title, a domestic entity may:
(1) make a guaranty on behalf of a parent, subsidiary, or affiliate of the entity; or (2)
make a guaranty of the indebtedness of another person if the guaranty may reasonably be expected
directly or indirectly to benefit the entity. (c) For purposes of subsection (b)(2), a decision
by the governing authority of the domestic entity that a guaranty may reasonably be expected
to benefit the entity is conclusive and not subject to attack by any person, except: (1) a
guaranty may not be enforced by a person who participated in a fraud on the domestic entity
resulting in the making of the guaranty or by a person who had notice of that...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-1-2.13.htm - 1K - Match Info - Similar pages
10A-5-4.01
Section 10A-5-4.01 Management of the limited liability company; creation of classes; voting;
rights; meetings. REPEALED IN THE 2014 REGULAR SESSION BY ACT 2014-144 EFFECTIVE JANUARY 1,
2017. (a) Unless otherwise stated in the certificate of formation, the management of the limited
liability company is vested in its members. Subject to any provisions in the operating agreement
or this chapter restricting or enlarging the management rights and duties of any person or
group or class of persons, the members shall have the right and authority to manage the business
or affairs of the limited liability company and to make all decisions with respect thereto.
(b) If the certificate of formation vests management of the limited liability company in one
or more managers, then the managers shall have the power to manage the business or affairs
of the limited liability company as provided in the operating agreement. Except as otherwise
provided in the operating agreement, the managers: (1) Shall be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-5-4.01.htm - 3K - Match Info - Similar pages
11-49-1
Section 11-49-1 Consent to use public streets, etc., for construction or operation of public
utility or private enterprise; fees. (a) No person, firm, association, or corporation shall
be authorized to use the streets, avenues, alleys, and other public places of cities or towns
for the construction or operation of any public utility or private enterprise without first
obtaining the consent of the proper authorities of the city or town. (b) No electric supplier,
as defined in Section 37-14-31(1), which has an assigned service territory established by
general law enacted by the Legislature and which is subject to payment of a privilege or license
tax or other tax or fee established by general law enacted by the Legislature to a city or
town which authorizes a levy not to exceed three percent of the gross receipts of the business
done by the electric supplier in the municipality during the preceding year, and which authorizes
a levy not to exceed one and one-half percent of the gross...
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45-8A-22.135
Section 45-8A-22.135 Amendment and termination. (a) Amendment of the Plan. (1) The retirement
board shall have the right at any time to amend the plan, subject to the limitations of this
section. Any such amendment must be consistent with this subpart, any other legislation relating
to the trust, and consistent with other authority granted to the retirement board. Additionally,
in the event that the Legislature amends this subpart or makes other statutory changes that
impact the terms of the plan, the retirement board shall cause the plan to be amended as necessary
to reflect such legislation. (2) Any amendment which affects the rights, duties, or responsibilities
of the trustee may only be made with the trustee's written consent. Any such amendment shall
become effective as provided therein upon its execution. The trustee shall not be required
to execute an amendment unless such amendment affects the duties of the trustee hereunder.
(3) Except as otherwise specifically provided for...
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