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5-12A-15
Section 5-12A-15 Taxation. A common trust fund, whether established, maintained, and
administered pursuant to the requirements of this chapter or established, maintained, administered,
and invested in without regard to the requirements and limitations of this chapter, as provided
in Section 5-12A-13, shall not be subject to taxation under any income tax law of the
State of Alabama. The computation of gain, loss, basis, taxable income, taxable loss, and
other income tax treatment of a common trust fund and its participants, shall be determined
in accordance with 26 U.S.C. ยง584, as amended from time to time. Every trust institution
maintaining a common trust fund shall make a return under oath for each fiscal year stating
specifically with respect to the fund the items of gross income and the deductions allowed
by law, and shall include in the return the names and addresses of the participants entitled
to share in the net income of the fund and the amount of the proportionate share of...
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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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5-12A-4
Section 5-12A-4 Common trust fund plan. Each common trust fund shall be established
and maintained in accordance with a written plan (referred to herein as the plan) approved
by resolution of the board of directors of the trust institution and approved in writing by
competent legal counsel. The plan shall provide that the common trust fund shall be administered
under the laws of this state and of the United States and in conformity with the rules and
regulations promulgated from time to time under authority of such laws and shall contain full
and detailed provisions, not inconsistent with the provisions of this chapter, as to the manner
in which the common trust fund is to be operated, the investment powers with respect to the
common trust fund, the allocation and apportionment of income, profits and losses, the terms
and conditions governing the admission or withdrawal of investments or participations in the
common trust fund, the auditing and settlement of accounts of the trust...
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27-19-103
Section 27-19-103 Definitions. Unless the context requires otherwise, the definitions
in this section apply throughout this article. (1) APPLICANT. In the case of: a. An
individual long-term care insurance policy, the person who seeks to contract for benefits.
b. A group long-term care insurance policy, the proposed certificate holder. (2) CERTIFICATE.
Any certificate issued under a group long-term care insurance policy, which policy has been
delivered or issued for delivery in this state. (3) COMMISSIONER. The Alabama Commissioner
of Insurance. (4) GROUP LONG-TERM CARE INSURANCE. A long-term care insurance policy which
is delivered or issued for delivery in this state and issued to any of the following: a. One
or more employers or labor organizations, or to a trust or to the trustees of a fund established
by one or more employers or labor organizations, or a combination thereof, for employees or
former employees or a combination thereof, or for members or former members or a...
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36-26-14
Section 36-26-14 Deferred compensation plans for certain employees. (a) The personnel
board may adopt, establish, and maintain a deferred compensation plan or plans, except under
Internal Revenue Code Section 403 (b), for the employees of the State of Alabama or
any city, town, county, or public entity or corporation organized pursuant to the laws of
this state. Notwithstanding the foregoing, prior to the employees of a county or political
subdivision of the county participating in a plan, the employing county or political subdivision
of the county shall approve participation in the plan. The personnel board may include in
any such plan any provision that does not cause the plan to fail to qualify for its tax-favored
treatment under the United States Internal Revenue Code, including, but not limited to, participant
loans, unforeseeable emergency or hardship distributions, Roth deferrals, rollovers, transfers
to purchase service credit, and distributions to purchase a retired public...
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13A-9-71
Section 13A-9-71 Registration of charitable organizations, professional fund raisers,
and commercial co-venturers, and professional solicitors; notification of changes; exempt
persons; annual report; prohibition against fund raising by unregistered person; contracts
between professional fund raisers and commercial co-venturers; appointment of Secretary of
State as agent for service of process; use of name of charitable organization without consent;
disclosure by solicitors; violations and penalties; injunctive relief. (a) Every charitable
organization, except those granted an exemption in subsection (f), which is physically located
in this state, intends to solicit contributions in or from this state, or to have contributions
solicited in this state, on its behalf, by other charitable organizations, paid solicitors,
or commercial co-venturers in or from this state shall, prior to any solicitation, file a
registration statement with the Attorney General upon a form prescribed by the...
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41-14A-2
Section 41-14A-2 Definitions. As used in this chapter, the following words and terms
shall have the following meanings: (1) AVERAGE MONTHLY BALANCE OF PUBLIC DEPOSITS. The sum
of the average daily balances of public deposits, meaning the net average daily balances of
public deposits determined without any deduction for deposit insurance, for the reported month
and the 11 months preceding that month, divided by 12. (2) BOARD OF DIRECTORS or BOARD. The
Board of Directors of the SAFE Program established under Section 41-14A-6. The board
of directors shall consist of eight members. (3) COLLATERAL-PLEDGING LEVEL or COLLATERAL-PLEDGING
REQUIREMENT. The percentage or percentages of collateral, in relation to one or more levels
of public deposits held, required to be pledged by a qualified public depository as determined
in accordance with the provisions of this chapter or rules or orders of the board adopted
pursuant to this chapter. (4) COVERED PUBLIC ENTITY. The state and its political...
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40-2B-2
Section 40-2B-2 Alabama Tax Tribunal. (a) Statement of Purpose. To increase public confidence
in the fairness of the state tax system, the state shall provide an independent agency with
tax expertise to resolve disputes between the Department of Revenue and taxpayers, prior to
requiring the payment of the amounts in issue or the posting of a bond, but after the taxpayer
has had a full opportunity to attempt settlement with the Department of Revenue based, among
other things, on the hazards of litigation. By establishing an independent Alabama Tax Tribunal
within the executive branch of government, this chapter provides taxpayers with a means of
resolving controversies that insures both the appearance and the reality of due process and
fundamental fairness. The tax tribunal shall provide hearings in all tax matters, except those
specified by statute, and render decisions and orders relating thereto. A tax tribunal hearing
shall be commenced by the filing of a notice of appeal protesting...
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37-6-3
Section 37-6-3 Enumerated powers. A cooperative shall have the power: (1) To sue and
be sued in its corporate name. (2) To adopt a corporate seal and alter the same at its pleasure.
(3) To generate, manufacture, purchase, acquire and transmit electric energy and to distribute,
sell, supply and dispose of electric energy to its members, to governmental agencies and political
subdivisions and to other persons; provided, however, that should a cooperative acquire any
electric facilities dedicated or devoted to the public use, it may continue to serve the persons
served directly from such facilities at the time of such acquisition without requiring that
such persons become members, and, provided further, that such nonmembers shall have the right
to become members upon nondiscriminatory terms. Cooperatives may not condition membership
or provision of service on compliance by the member with requirements not directly related
to the electric or other service to be provided by the cooperative....
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25-4-10
Section 25-4-10 Employment. (a) Subject to other provisions of this chapter, "employment"
means: (1) Any service performed prior to January 1, 1978, which was employment as defined
in this section prior to such date and, subject to the other provisions of this section,
services performed for remuneration after December 31, 1977, including service in interstate
commerce, by: a. Any officer of a corporation; or b. Any individual who, under the usual common
law rules applicable in determining the employer-employee relationship, has the status of
an employee; or c. Any individual other than an individual who is an employee under paragraphs
a. or b. of this subdivision (1) who performs services for remuneration for any person: 1.
As an agent-driver or commission-driver engaged in distributing meat products, bakery products,
beverages (other than milk) or laundry or dry cleaning services for a principal; 2. As a traveling
or city salesman engaged upon a full-time basis in the solicitation on...
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