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5-12A-13
Section 5-12A-13 Administration, etc., of common trust funds differing from funds permitted
by this chapter. Nothing contained in this chapter shall prohibit a trust institution, when
it acts in accordance with specific authority contained in the instrument or instruments under
which the trust institution acts, from establishing, maintaining, administering and investing
in, without regard to the requirements and limitations of this chapter, one or more common
trust funds differing from the common trust funds expressly permitted by this chapter. (Acts
1980, No. 80-658, §5-12-13.)...
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40-16-1
Section 40-16-1 Definitions. For the purpose of this chapter, the following terms shall have
the respective meanings ascribed to them by this section: (1) FINANCIAL INSTITUTION. Any person,
firm, corporation, and any legal entity whatsoever doing business in this state as a national
banking association, bank, banking association, trust company, industrial or other loan company
or building and loan association, and such term shall likewise include any other institution
or person employing moneyed capital coming into competition with the business of national
banks, and shall apply to such person or institution regardless of what business form and
whether or not incorporated, whether of issue or not, and by whatsoever authority existing.
The common parent corporation of a controlled group of corporations eligible to elect to file
a consolidated excise tax return, in accordance with Section 40-16-3, shall be considered
a financial institution if such parent corporation is a registered bank...
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5-12A-6
Section 5-12A-6 Control of investments by instrument under which trust institution acts. If
the instrument under which a trust institution acts as fiduciary, whether such fiduciary capacity
arose before or is created after July 8, 1943, shall either expressly or by its silence limit
or restrict the investment of moneys of the estate and securities to the class authorized
by law as legal investments, the trust institution may, in its capacity as sole fiduciary
or with the consent of any person acting with it in a fiduciary capacity, invest and reinvest
moneys of the estate in any such common trust fund maintained by the trust institution or
by an affiliated trust institution, provided, the securities composing such fund consist solely
of securities of the class authorized as legal investments for funds held by a fiduciary.
If the instrument under which the trust institution acts as fiduciary, whether such fiduciary
capacity arose before or is created after July 8, 1943, shall authorize...
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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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43-8-1
Section 43-8-1 General definitions. Subject to additional definitions contained in the subsequent
articles which are applicable to specific articles or divisions, and unless the context otherwise
requires, in this chapter, the following words shall have the following meanings: (1) BENEFICIARY.
As it relates to trust beneficiaries, includes a person who has any present or future interest,
vested or contingent, and also includes the owner of an interest by assignment or other transfer
and as it relates to a charitable trust, includes any person entitled to enforce the trust.
(2) CHILD. Includes any individual entitled to take as a child under this chapter by intestate
succession from the parent whose relationship is involved and excludes any person who is only
a stepchild, a foster child, a grandchild or any more remote descendant. (3) COURT. The court
having jurisdiction in matters relating to the affairs of decedents. This court in Alabama
is known as the probate court. (4) DAYS. That...
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35-8A-316
Section 35-8A-316 Lien for assessments. (a) The association has a lien on a unit for any assessment
and any other moneys due the association for special assessments or services or charges, such
as water or repairs, levied against that unit or fines imposed against its unit owner from
the time the assessment or fine becomes due. The association's lien may be foreclosed in like
manner as a mortgage on real estate provided the declaration is in conformity with Article
1A of Chapter 10 of this title and subject to the rights under Article 14A of Chapter 5 of
Title 6. The association shall send reasonable advance notice of its proposed action to the
unit owner and all lienholders of record of the unit. Unless the declaration otherwise provides,
fees, charges, late charges, fines, and interest charged pursuant to Section 35-8A-302(a)(10),
(11), and (12) are enforceable as assessments under this section. If an assessment is payable
in installments, the full amount of the assessment is a lien...
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34-27-50
Section 34-27-50 Definitions. For the purposes of this article, the following terms shall have
the meaning respectively ascribed to them by this section: (1) ACCOMMODATIONS. Any hotel or
motel room, condominium, or cooperative unit, cabin, lodge, apartment, or any other private
or commercial structure designed for occupancy by one or more individuals or any recreational
vehicle campsite or campground. (2) BUSINESS ENTITY. Any individual, corporation, firm, association,
joint venture, partnership, trust, estate, business trust, syndicate, fiduciary, and any other
group or combination which engages in acts or practices in any trade or commerce. (3) CONTRACT.
Any contract, promissory note, credit agreement, negotiable instrument, lease, use agreement,
license, security, or other muniment conferring on the purchaser the rights, benefits, and
obligations of a vacation time-sharing plan. (4) COMMISSION. The Alabama Real Estate Commission.
(5) COMMISSIONER. A member of the Alabama Real Estate...
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5-12A-3
Section 5-12A-3 Investments by trust institutions. Any trust institution, in its capacity as
fiduciary or cofiduciary, whether such fiduciary capacity arose before or was created after
July 8, 1943, may invest funds which it lawfully holds for investment in such capacity in
interests or participations in one or more common trust funds, if such investment is not prohibited
by the instrument, judgment, decree or order creating the fiduciary relationship and if, in
the case of cofiduciaries, the trust institution procures the consent of its cofiduciary or
cofiduciaries to such investment. (Acts 1980, No. 80-658, §5-12-3.)...
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5-12A-1
Section 5-12A-1 Definitions. As used in this chapter, the following terms shall have the following
meanings, respectively, unless the context clearly indicates otherwise: (1) TRUST INSTITUTION.
Any state bank, any national bank or any trust company authorized to act in a fiduciary capacity
in this state and under the supervision of the Comptroller of the Currency of the United States
or the Federal Reserve System, or the Superintendent of Banks of the State of Alabama. (2)
AFFILIATED TRUST INSTITUTION. A trust institution which, together with one or more other trust
institutions, are each owned or controlled by a bank holding company which is under the supervision
of the Board of Governors of the Federal Reserve System. (3) OWNED OR CONTROLLED. The ownership
by a bank holding company of stock possessions of at least 80 percent of the voting power
of all classes of stock and at least 80 percent of each class of the nonvoting stock (other
than nonvoting stock which is limited and...
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41-15-10
Section 41-15-10 Premiums and collected earnings to constitute trust fund; surplus may be invested
in bonds, stocks, mutual funds, etc.; limitations and conditions; requisition for payment
of losses, expenses, etc. All premiums and earnings collected under the provisions of this
chapter shall constitute a trust fund to be applied as authorized in this chapter. With the
approval of the Governor, any surplus in the fund over a necessary working capital, which
shall be determined by the Director of Finance, at not less than $400,000.00, may be invested
in the bonds or other obligations of the United States, of the State of Alabama or of any
agency, institution or instrumentality of the State of Alabama. The Director of Finance shall
also have the authority to invest and reinvest said state insurance trust funds in such classes
of bonds, mortgages, common and preferred stocks, shares of investment companies or mutual
funds or other investments as the Finance Director with the consent of...
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