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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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40-14A-22
Section 40-14A-22 Levy and amount of tax. (a) Levy of tax. There is hereby levied an annual
privilege tax on every corporation, limited liability entity, and disregarded entity doing
business in Alabama, or organized, incorporated, qualified, or registered under the laws of
Alabama. The tax shall accrue as of January 1 of every taxable year, or in the case of a taxpayer
organized, incorporated, qualified, or registered during the year, or doing business in Alabama
for the first time, as of the date the taxpayer is organized, incorporated, registered, or
qualifies to do business, or begins to do business in Alabama, as the case may be. The taxpayer
shall be liable for the tax levied by this article for each year beginning before the taxpayer
has been dissolved or otherwise ceased to exist or has withdrawn or forfeited its qualification
to do business in Alabama. The amount of the tax due shall be determined by multiplying the
taxpayer's net worth in Alabama by the rate determined in...
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41-14A-10
Section 41-14A-10 SAFE Loss Payment Fund. (a) In order to facilitate the administration of
this chapter, there is created the SAFE Loss Payment Fund, which shall be held and administered
by the State Treasurer, for the account of the SAFE Program, separate and apart from the State
General Fund. The proceeds from the sale of securities pledged as collateral or from any assessment
pursuant to Section 41-14A-9 shall be deposited into the Loss Payment Fund. The amounts on
deposit in the Loss Payment Fund shall be disbursed as necessary in accordance with the provisions
of this chapter in order to pay losses to public depositors and for such other purposes as
may be expressly provided for in this chapter. (b) The State Treasurer is authorized to pay
any losses to public depositors from the Loss Payment Fund. The term "losses," for
purposes of this chapter, shall also include losses of interest or other accumulations to
the public depositor as a result of penalties for early withdrawal...
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8-9A-1
Section 8-9A-1 Definitions. As used in this chapter: (1) AFFILIATE. a. A person who directly
or indirectly owns, controls, or holds with power to vote, 20 percent or more of the outstanding
voting securities of the debtor, other than a person who holds the securities, 1. As a fiduciary
or agent without sole discretionary power to vote the securities; or 2. Solely to secure a
debt, if the person has not exercised the power to vote; b. A corporation 20 percent or more
of whose outstanding voting securities are directly or indirectly owned, controlled, or held
with power to vote, by the debtor or a person who directly or indirectly owns, controls, or
holds, with power to vote, 20 percent or more of the outstanding voting securities of the
debtor, other than a person who holds the securities, 1. As a fiduciary or agent without sole
power to vote the securities; or 2. Solely to secure a debt, if the person has not in fact
exercised the power to vote; c. A person whose business is operated...
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10A-1-6.31
Section 10A-1-6.31 Insurance and other arrangements. (a) Notwithstanding any other provision
of this article, an enterprise may purchase or procure or establish and maintain insurance
or another arrangement to indemnify or hold harmless an existing or former governing person,
delegate, officer, employee, or agent against any liability: (1) asserted against and incurred
by the person in that capacity; or (2) arising out of the person's status in that capacity.
(b) The insurance or other arrangement established under subsection (a) may insure or indemnify
against the liability described by subsection (a) without regard to whether the enterprise
otherwise would have had the power to indemnify the person against that liability under this
chapter. (c) Insurance or another arrangement that involves self-insurance or an agreement
to indemnify made with the enterprise or a person that is not regularly engaged in the business
of providing insurance coverage may provide for payment of a...
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16-16B-2
Section 16-16B-2 Definitions. (a) Wherever used in this chapter, the following terms shall
have the following meanings unless the context clearly indicates otherwise: (1) "1965
Act" means Act No. 243 enacted at the 1965 First Special Session of the Legislature,
codified as Title 16, Chapter 16. (2) "1971 Acts" means Act No. 94 enacted at the
1971 First Special Session of the Legislature, Act No. 2428 enacted at the 1971 Regular Session
of the Legislature, and Act No. 56 enacted at the 1971 Second Special Session of the Legislature.
(3) "1973 Act" means Act No. 1277 enacted at the 1973 Regular Session of the Legislature
as amended by Act No. 73 enacted at the 1975 Third Special Session of the Legislature and
Act No. 1223 enacted at the 1975 Regular Session of the Legislature. (4) "1978 Act"
means Act No. 138 enacted at the 1978 Second Special Session of the Legislature, as amended
by Act No. 79-41 enacted at the 1979 Special Session of the Legislature and Act No. 81-827
enacted at the...
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16-16B-8
Section 16-16B-8 (Implementation Conditioned on Separate Legislative Enactment.) Refunding
bonds. For the purpose of refunding any Bonds or Refunding Bonds of the Authority issued under
the provisions of this chapter, the 1965 Act, the 1971 Acts, the 1973 Act, the 1978 Act, the
1985 Act, the 1990 Act, the 1995 Act, the 1998 Act, the 1999 Act, the 2001 Act, the 2002 Act,
the 2003 Act, the 2007 Act or any other act previously enacted, or any combination thereof,
whether such refunding shall occur before, at or after the maturity of the Bonds refunded
and for the purpose of paying all premiums and expenses of such refunding (including, but
not limited to, attorneys' fees, costs of printing the Refunding Bonds, fiscal agents' fees,
and accountants' fees), the Authority is hereby authorized to sell and issue its Refunding
Bonds. Such Refunding Bonds may be sold and issued from time to time, at public sale, on sealed
bids and on such other terms and conditions as the Authority shall...
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16-54-18
Section 16-54-18 Fund previously generated by proceeds from lands dedicated to university to
be deposited in Restricted Endowment Fund; provisions for payment of remaining principal over
five-year-period; interest to be paid. On May 19, 1980, the Treasurer of the state shall pay
to the Treasurer of the University of Montevallo the whole amount of the fund in the Treasury
generated by proceeds from both federally granted and other lands dedicated to the benefit
of the University of Montevallo. These funds shall be deposited into the University of Montevallo
Restricted Endowment Fund. On October 1, 1996, and on October 1 of each of the next four fiscal
years, the State Treasurer shall pay to the Treasurer of the University of Montevallo one-fifth
of the remaining principal sum of proceeds not heretofore transferred, which were derived
and generated from the sales of federal lands granted by the United States Congress to the
State of Alabama for the express support of the University of...
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19-3A-409
Section 19-3A-409 Deferred compensation, annuities, and similar payments. (a) In this section:
(1) "Payment" means a payment that a fiduciary may receive over a fixed number of
years or during the life of one or more individuals because of services rendered or property
transferred to the payer in exchange for future payments. The term includes a payment made
in money or property from the payer's general assets or from a separate fund created by the
payer. For purposes of subsections (d), (e), (f), and (g), the term also includes any payment
from any separate fund, regardless of the reason for the payment. (2) "Separate fund"
includes a private or commercial annuity, an individual retirement account, and a pension,
profit-sharing, stock-bonus, or stock-ownership plan. (b) To the extent that a payment or
portion thereof is characterized by other sections of this chapter as income in the hands
of the payer, a fiduciary shall allocate such payment or portion thereof to income. The...
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22-21-355
Section 22-21-355 Further provisions respecting investment of funds. In addition to the investment
powers granted by the enabling statute, any authority shall, to the extent permitted by the
contracts of such authority with the holders of its securities, have the further power to
invest any portion of the principal proceeds derived from the sale of any of its securities
not then needed for any of the purposes for which such securities were authorized to be issued,
any moneys held in any special fund created pursuant to any resolution or mortgage, mortgage
indenture, mortgage and trust indenture or trust indenture authorizing or securing any of
its securities, and any other moneys of such authority not then needed by it, in any of the
following: (1) Debt securities (whether general obligations or limited or special obligations)
of any state, territory or possession of the United States of America and of any political
subdivision of any such state, territory or possession, but if and...
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