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7-8-320
Section 7-8-320 (Effective Until January 1, 1997) Transfer or pledge within a central depository
system. (1) If a security: (a) Is in the custody of a clearing corporation or of a custodian
bank or a nominee of either subject to the instructions of the clearing corporation; and (b)
Is in bearer form or indorsed in blank by an appropriate person or registered in the name
of the clearing corporation or custodian bank or a nominee of either; and (c) Is shown on
the account of a transferor or pledgor on the books of the clearing corporation; Then, in
addition to other methods, a transfer or pledge of the security or any interest therein may
be effected by the making of appropriate entries on the books of the clearing corporation
reducing the account of the transferor or pledgor and increasing the account of the transferee
or pledgee by the amount of the obligation or the number of shares or rights transferred or
pledged. (2) Under this section entries may be with respect to like securities...
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8-6-76
Section 8-6-76 (Repealed effective January 1, 1997) Obtaining evidence of appointment or incumbency;
standards of evidence; notice of document contents. (a) A corporation or transfer agent making
a transfer of a security pursuant to an assignment by a fiduciary who is not the registered
owner shall obtain the following evidence of appointment or incumbency: In the case of a fiduciary
appointed or qualified by a court, a certificate issued by or under the direction or supervision
of that court or an officer thereof and dated within 60 days before the transfer; or In any
other case, a copy of a document showing the appointment or a certificate issued by or on
behalf of a person reasonably believed by the corporation or transfer agent to be responsible
or, in the absence of such a document or certificate, other evidence reasonably deemed by
the corporation or transfer agent to be appropriate. (b) Corporations and transfer agents
may adopt standards with respect to evidence of appointment...
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10A-8A-1.02
Section 10A-8A-1.02 Definitions. Notwithstanding Section 10A-1-1.03, as used in this chapter,
unless the context otherwise requires, the following terms mean: (1) "Business"
includes every trade, occupation, and profession for profit. (2) "Disqualified person"
means any person who is not a qualified person. (3) "Distribution" except as otherwise
provided in Section 10A-8A-4.09(f), means a transfer of money or other property from a partnership
to another person on account of a transferable interest. (4) "Foreign limited liability
partnership" means a foreign partnership whose partners have limited liability for the
debts, obligations, or other liabilities of the foreign partnership under a provision similar
to Section 10A-8A-3.06(c). (5) "Foreign partnership" means a partnership governed
by the laws of a jurisdiction other than this state which would be a partnership if governed
by the laws of this state. The term includes a foreign limited liability partnership. (6)
"Limited liability...
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10A-9A-1.02
Section 10A-9A-1.02 Definitions. Notwithstanding Section 10A-1-1.03, as used in this chapter,
unless the context otherwise requires, the following terms mean: (1) "CERTIFICATE OF
FORMATION" with respect to a limited partnership means the certificate of formation required
by Section 10A-9A-2.01, and the certificate of formation as amended or restated. (2) "DISTRIBUTION"
except as otherwise provided in Section 10A-9A-5.08(f), means a transfer of money or other
property from a limited partnership to another person on account of a transferable interest.
(3) "FOREIGN LIMITED LIABILITY LIMITED PARTNERSHIP" means a foreign limited partnership
whose general partners have limited liability for the obligations of the foreign limited partnership
under a provision similar to Section 10A-9A-4.04(c). (4) "FOREIGN LIMITED PARTNERSHIP"
means a partnership formed under the laws of a jurisdiction other than this state and required
by those laws to have one or more general partners and one or more...
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15-18-150
Section 15-18-150 Employment income withholding order - Priority. Any order issued pursuant
to the provisions of this article directing any person to withhold, convey, assign, transfer,
deliver, disburse or pay over any employment income, other income, or asset or requiring the
attachment thereof, shall have priority over any writ or notice of garnishment or process
or writ of attachment subsequently served on such person; provided, however, an employment
income withholding order issued pursuant to this article shall not have priority over any
employment income withholding order or notice of garnishment for the support of a defendant's
dependent children; and provided further, that any court order for employment income withholding
issued pursuant to this article may exceed the maximum amounts which is or may be hereafter
prescribed by law for garnishment proceeding in Alabama. (Acts 1984, No. 84-370, p. 859, ยง11.)...
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19-3D-15
Section 19-3D-15 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION,
EFFECTIVE JANUARY 1, 2019. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. TRUST LIMITATION ON
DECANTING. (a) An authorized fiduciary may not exercise the decanting power to the extent
the first-trust instrument expressly prohibits exercise of: (1) the decanting power; or (2)
a power granted by state law to the fiduciary to distribute part or all of the principal of
the trust to another trust or to modify the trust. (b) Exercise of the decanting power is
subject to any restriction in the first-trust instrument that expressly applies to exercise
of: (1) the decanting power; or (2) a power granted by state law to a fiduciary to distribute
part or all of the principal of the trust to another trust or to modify the trust. (c) A general
prohibition of the amendment or revocation of a first trust, a spendthrift clause, or a clause
restraining the voluntary or involuntary transfer of a beneficiary's...
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26-2-3
Section 26-2-3 Transfer to circuit court; remand to probate court. (a) In any county where
the judge of probate is required to be learned in the law, the administration or conduct of
any guardianship or conservatorship of a minor or incapacitated person may be removed from
the probate court to the circuit court pursuant to Section 26-2-2 at any time before a proceeding
for final settlement thereof is commenced in probate court by the guardian or conservator
of the guardianship or conservatorship or guardian ad litem or next friend of a ward or anyone
entitled to support out of the estate of the ward without assigning any special equity. The
circuit court shall remand the administration of a guardianship or conservatorship transferred
pursuant to this section to the probate court if the circuit court finds that the removal
was sought for the purpose of improper delay or did not comply with applicable law. The circuit
court may remand the administration of a guardianship or...
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26-2A-149
Section 26-2A-149 Recording of conservator's letters. (a) Except for property unaffected by
the appointment of a conservator specified in Section 26-2A-148(a), letters of conservatorship
are evidence of transfer of all assets, or the part thereof specified in the letters, of a
protected person to the conservator. An order terminating a conservatorship is evidence of
transfer of all assets subject to the conservatorship from the conservator to the protected
person, or to successors of the person. (b) Subject to the requirements of general statutes
governing the filing or recordation of documents of title to land or other property, letters
of conservatorship and orders terminating conservatorships may be filed or recorded to give
record notice of title as between the conservator and the protected person. For the filing
and recordation of letters of conservatorship and orders terminating conservatorships, the
probate judge shall receive the same compensation (fees of registration)...
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26-2A-158
Section 26-2A-158 Termination of proceedings. (a) The protected person, conservator, or any
other interested person may petition the court to terminate the conservatorship. A protected
person seeking termination is entitled to the same rights and procedures as in an original
proceeding for a protective order. If the conservator has accounted to the formerly protected
person, no accounting is necessary. The court, upon determining after notice and hearing that
the minority or disability of the protected person has ceased, shall terminate the conservatorship.
Upon termination, title to assets of the estate passes to the formerly protected person or
to successors. The order of termination must provide for expenses of administration and direct
the conservator to execute appropriate instruments to evidence the transfer. (b) A conservator
appointed by any court of this state, on termination or removal of the protected person's
minority or disability, may present a verified petition to the...
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26-5-12
Section 26-5-12 Final consent settlement between conservator and ward. A conservator appointed
by any court of this state for a minor or incapacitated person may, on the arrival of his
or her ward at full age or on termination of the ward's incapacity or on removal of his or
her ward's disabilities of nonage by a court of competent jurisdiction or, if the ward is
married and has attained the age of 18 years, or if the ward has died, present a verified
petition to the court in which the conservatorship is pending, praying for a final consent
settlement by and between him or her and his or her ward, or the ward's personal representative,
if the ward has died. If such consent settlement is agreed to by the ward, or the ward's personal
representative, if the ward has died, by a written instrument, signed by him or her and acknowledged
as conveyances of real estate are acknowledged, the court may approve such settlement without
notice or publication or posting. The agreement of the ward, or...
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