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11-101A-6
Section 11-101A-6 Board of directors. (a) Each corporation shall be governed by a board of
directors composed of the number of directors provided in the certificate of incorporation
as most recently amended. Unless provided to the contrary in its certificate of incorporation,
all powers of the authority shall be exercised by the board or pursuant to this authorization.
Subject to the provisions of subdivision (8) of subsection (b) of Section 11-101A-4, the board
shall consist of directors having those qualifications, being elected or appointed by that
person or persons, including, without limitation, the board itself, one or more authorizing
subdivisions, or other counties and municipalities, and other entities or organizations and
in the manner, and serving for the terms of office, all as shall be specified in the certificate
of incorporation of the authority. Notwithstanding the foregoing, no fewer than a majority
of the directors shall be elected by the governing body or bodies of...
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11-47-217
Section 11-47-217 Boards of directors of authorities. (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. 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 authorization. Subject to the provisions of subdivision (8) of Section
11-47-215, the board shall consist of directors who have the qualifications and are elected
or appointed for certain terms of office as shall be specified in the certificate of incorporation
of the authority. Notwithstanding the foregoing, if the original directors are appointed by
the incorporators, the original directors shall be identified in the proposed form of the
certificate of incorporation submitted to the governing body of each of the authorizing subdivisions
together with the application for authority to...
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11-86A-10
Section 11-86A-10 Members of the board of directors; terms; meetings; removal from office.
(a) Except as provided in Section 11-86A-6, the board of directors shall be composed of the
number of directors provided for in the articles, appointed as provided in the articles for
the terms designated therein. (b) All directors shall serve until their successors are appointed
or until they cease to be qualified. Vacancies on the board of directors shall be filled as
provided for in the articles, but any person appointed to fill a vacancy shall serve only
for the unexpired portion of the term. In the event any uncertainty arises as to the terms
of office of a director, the governing body or person authorized to appoint a director to
the board of directors may clarify the term by adoption of an appropriate resolution or by
execution of an appropriate certificate. (c) A majority of the directors shall constitute
a quorum for the transaction of business, but any meeting of the board of directors...
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11-92A-10
Section 11-92A-10 Directors. (a) Except as provided in Section 11-92A-5, the board of directors
shall be composed of the number of directors provided for in the articles, appointed as provided
in the articles for the terms designated therein. (b) All directors shall serve until their
successors are duly appointed or until they cease to be qualified. Vacancies on the board
of directors shall be filled as provided for in the articles, but any person appointed to
fill a vacancy shall serve only for the unexpired portion of the term. In the event any uncertainty
arises as to the terms of office of the directors, the governing body or person authorized
to appoint such directors to the board of directors may clarify such term by adoption of an
appropriate resolution or by execution of an appropriate certificate, and such term of office
shall be as so clarified. (c) A majority of the directors shall constitute a quorum for the
transaction of business, but any meeting of the board of directors...
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16-60-303
Section 16-60-303 Appointment of board of directors. (a) The Community Outreach Partnership
Center shall initially be governed by a five-member board of directors. (b) The initial Board
of Directors of the Community Outreach Partnership Center shall be as follows: (1) The President
of Jefferson State Community College (Place One). (2) Two members (Place Two and Place Five)
initially selected by the State House of Representatives Legislative Delegation of Jefferson
County. (3) Two members (Place Three and Place Four) initially selected by the State Senate
Legislative Delegation of Jefferson County. (c) The terms of the initial board shall be staggered
as follows: (1) Place Two: Five years. (2) Place Three: Four years. (3) Place Four: Three
years. (4) Place Five: Two years. (d) With the exception of Place One and subject to the limitations
set out in Section 16-60-304, members succeeding the initial board members in Places Two to
Five, inclusive, shall serve a six-year term. Members may...
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2-10-60
Section 2-10-60 Selection of directors; contracts with association; vacancies. The affairs
of an association shall be managed by a board of not less than five directors, elected by
the members or stockholders from their own number. The bylaws may provide that the territory
in which the association has members shall be divided into districts and that the directors
shall be elected according to such districts. In such case, the bylaws shall specify the number
of directors to be elected by each district and the manner and method of reapportioning the
directors and redistricting the territory covered by the association. The bylaws may provide
that primary elections shall be held in each district to elect the directors apportioned to
such districts and the results of all such primary elections must be ratified by the next
regular meeting of the association. The bylaws may provide that one or more directors may
be appointed by the Commissioner of Agriculture and Industries, the President of...
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2-10-94
Section 2-10-94 Board of directors. The affairs of an association incorporated under this article
shall be conducted, controlled and managed by a board of directors of such number, not to
be less than five, and with such terms of office as may be provided by the bylaws. The said
directors shall be elected by the members or stockholders of the association from their own
number. When a vacancy on the board of directors occurs other than by expiration of term,
the remaining members of the board by a majority vote shall fill the vacancy until the next
regular meeting of the members of the association. An association may provide a fair remuneration
for the time actually spent by its officers and directors in its service. No director, during
his term of office, shall be a party to a contract for profit with the association differing
in any way from the business relations accorded regular members or holders of stock of the
association. (Acts 1935, No. 220, p. 604; Code 1940, T. 2, ยง118; Acts...
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26-1-5
Section 26-1-5 Age of majority for purposes of contracting with banks, credit unions, etc.,
for certain loans or accounts; requirements for members of Armed Forces. (a) Notwithstanding
Section 26-1-1, the age of majority for the purposes of contracting for educational loans
for college level education and above, within the State of Alabama, shall be 17 years of age.
(b) Notwithstanding Section 26-1-1, for purposes of contracting with a bank, credit union,
or similar savings and loan institution, including obtaining a loan or opening a checking
or savings account, a member of any branch of the Armed Forces of the United States shall
be deemed to have attained the age of majority and shall be relieved of his or her disabilities
of minority for that purpose, and he or she may continue to be deemed to have reached the
age of majority even if he or she shall subsequently no longer be a member of the Armed Forces
of the United States. A member of the Armed Forces of the United States who...
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5-17-4
Section 5-17-4 Powers generally. (a) A credit union shall have all of the following powers:
(1) To receive the savings of its members either as payment on shares or as deposits, including
the right to conduct Christmas clubs, vacation clubs, and other thrift organizations within
the membership. (2) To accept deposits of fiduciary funds if a member is the beneficiary,
trustee, or personal representative and if the funds are part of the estate of a deceased
member. (3) To make loans to members. (4) To make loans to other credit unions, including
credit union service organizations. (5) To purchase loans from financial institutions, provided
a purchased loan is of the nature and type that the credit union could have originated itself.
(6) To make loans to a cooperative society or other organizations having membership in the
credit union. (7) To deposit funds in state and national banks, savings and loan associations,
the accounts which are insured by the Federal Deposit Insurance...
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5-1A-10
Section 5-1A-10 Use of lender information or trade name in solicitations. (a) For purposes
of this section, the following terms shall have the following meanings: (1) LENDER. A bank,
industrial bank, savings and loan association, savings bank, credit union, finance company,
mortgage bank, mortgage broker, loan originator or holder of the loan, or other person who
makes loans in this state, and any affiliate thereof, or any third party operating with the
consent of the lender. A person shall not be considered a lender based on the person's former
employment with the lender. (2) PERSON. Any individual, firm, corporation, partnership, organization,
association, or other legal entity. (b) A person other than the lender may not use the trade
name or trademark of the lender or a trade name or trademark confusingly similar to that of
the lender in a solicitation for the offering of services or products without the consent
of the lender unless the solicitation clearly and conspicuously states...
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