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5-17-11
Section 5-17-11 Election of officers; duties of officers and directors; compensation;
liability. (a) At the first meeting and at subsequent times prescribed in the bylaws, the
directors shall elect a president. The president must be either a member of the board of directors
or an employee of the credit union who is not a member of the board of directors. If the credit
union elects a president who is not a member of the board of directors, the board of directors
shall elect from their own number a chair and one or more vice chairs of the board of directors.
The board of directors, in accordance with the bylaws, may remove any officer who is not a
member of the board of directors. At the first meeting and at subsequent annual meetings prescribed
in the bylaws, the directors shall elect from their own number, a secretary and treasurer,
who may be the same individual. To nominate a candidate by petition, the petition should conform
to the requirements as specified in the bylaws. The bylaws...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-17-11.htm - 4K - Match Info - Similar pages
40-27-1
Section 40-27-1 Compact adopted; terms. The following Multistate Tax Compact is hereby
approved, adopted and enacted into law by the State of Alabama: Multistate Tax Compact Article
I. Purposes. The purposes of this compact are to: 1. Facilitate proper determination of state
and local tax liability of multistate taxpayers, including the equitable apportionment of
tax bases and settlement of apportionment disputes. 2. Promote uniformity or compatibility
in significant components of tax systems. 3. Facilitate taxpayer convenience and compliance
in the filing of tax returns and in other phases of tax administration. 4. Avoid duplicative
taxation. Article II. Definitions. As used in this compact: 1. "State" means a state
of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or any territory
or possession of the United States. 2. "Subdivision" means any governmental unit
or special district of a state. 3. "Taxpayer" means any corporation, partnership,
firm,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-27-1.htm - 42K - Match Info - Similar pages
5-17-17
Section 5-17-17 Loans to members, directors, officers, etc. Loans are made subject to
the conditions contained in the bylaws. A borrower may repay his loan in whole or in part
any day the office of the credit union is open for business. Provided that loans to directors,
officers or members of a committee are not prohibited in the bylaws, it shall be the duty
of the board of directors to establish a written policy concerning loans to a director, officer
or member of a committee. If it is the policy of the credit union to make directors, officers
and members of a committee eligible for loans, such loans will be made under the same terms,
conditions and rules as similar loans to other members. In no case may the credit committee
make a loan to a director, officer or member of a committee under the terms more favorable
than the terms of similar loans to other members. The credit committee shall at least monthly
submit to the board of directors a listing of all loans made to directors,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-17-17.htm - 2K - Match Info - Similar pages
10A-1-1.03
Section 10A-1-1.03 Definitions. As used in this title, unless the context otherwise
requires, the following terms mean: (1) AFFILIATE. A person who controls, is controlled by,
or is under common control with another person. An affiliate of an individual includes the
spouse, or a parent or sibling thereof, of the individual, or a child, grandchild, sibling,
parent, or spouse of any thereof, of the individual, or an individual having the same home
as the individual, or a trust or estate of which an individual specified in this sentence
is a substantial beneficiary; a trust, estate, incompetent, conservatee, protected person,
or minor of which the individual is a fiduciary; or an entity of which the individual is director,
general partner, agent, employee or the governing authority or member of the governing authority.
(2) ASSOCIATE. When used to indicate a relationship with: (A) a domestic or foreign entity
for which the person is: (i) an officer or governing person; or (ii) a beneficial...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-1-1.03.htm - 25K - Match Info - Similar pages
16-22-9
Section 16-22-9 Educational authority sick leave bank plans. (a) The following terms
shall have the following meanings, respectively: (1) CATASTROPHIC ILLNESS. Any illness, injury,
or pregnancy or medical condition related to childbirth, certified by a licensed physician
which causes the employee to be absent from work for an extended period of time. (2) CHIEF
EXECUTIVE OFFICER. The superintendent of any public county or city school system; the President
of the Alabama Institute for Deaf and Blind; the president of any two-year school or college
under the auspices of the State Board of Education; the President of Alabama Agricultural
and Mechanical University; the Superintendent of the Department of Youth Services School District;
the Executive Director of the Alabama School of Fine Arts; and the Executive Director of the
Alabama High School of Mathematics and Science. (3) EDUCATIONAL AUTHORITY or AUTHORITY or
BOARD. Each city and county board of education; the Board of Trustees of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-22-9.htm - 9K - Match Info - Similar pages
5-17-29
Section 5-17-29 Penalties - Concealment of discounts or loans. Any officer, director,
employee, or committee member of a credit union who intentionally conceals from the directors
or a committee of such credit union any discount or loan made for and in behalf of the credit
union between the regular meetings of its board of directors or credit committee is guilty
of a Class C misdemeanor. (Acts 1989, No. 89-632, p. 1241, §3.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-17-29.htm - 734 bytes - Match Info - Similar pages
5-17-30
Section 5-17-30 Penalties - Overdraws; receipt of commission, emolument, etc., for procuring
loans. Any officer, director, committee member, or employee of a credit union who willfully
and knowingly overdraws his own account with such credit union and thereby obtains money or
funds of any such credit union except as specifically permitted by the written loan policy
of the board of directors or asks, receives, consents or agrees to receive any commission,
emolument, gratuity, or reward or any promise of any commission, emolument or reward, or any
money, property or thing of value or of personal advantage in procuring or endeavoring to
procure for any person, firm or corporation any loan from or the purchase or discount of any
paper, note, draft check or bill of exchange by any such credit union is guilty of a Class
C misdemeanor. (Acts 1989, No. 89-632, p. 1241, §4.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-17-30.htm - 1K - Match Info - Similar pages
37-11A-1
Section 37-11A-1 Execution and text of compact. The Governor, on behalf of this state,
shall execute a compact, in substantially the following form, with the State of Mississippi,
and the Legislature approves and ratifies the compact in the form substantially as follows:
Northeast Mississippi - Northwest Alabama Railroad Authority Compact. The contracting states
solemnly agree: Article I. The purpose of this compact is to promote and develop trade, commerce,
industry, and employment opportunities for the public good and welfare in northeast Mississippi
and northwest Alabama through the establishment of a joint interstate authority to acquire
certain railroad properties and facilities which the operator thereof has notified the Interstate
Commerce Commission of an intention to abandon and which are located in any of Franklin, Marion,
or Winston Counties, Alabama or in Alcorn or Tishomingo Counties, Mississippi. Article II.
This compact shall become effective immediately as to the State...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-11A-1.htm - 33K - Match Info - Similar pages
5-17-12
Section 5-17-12 Powers and duties of credit committee. The credit committee shall have
the general supervision of all loans to members. Applications for loans shall be on a form
prepared by the credit committee and all applications shall set forth the purpose for which
the loan is desired, the security, if any offered, and such other data as may be required.
At least a majority of the members of the credit committee shall pass on all loans, and approval
must be unanimous; except, that the credit committee may appoint one or more loan officers
and delegate to the officer or officers the power to approve loans in accordance with loan
policies approved by the board of directors of the credit union. (Acts 1927, No. 597, p. 696;
Code 1940, T. 28, §291; Acts 1971, No. 2294, p. 3698; Acts 1977, No. 210, p. 282, §2; Acts
1983, No. 83-772, p. 1407, §1; Act 2016-133, §1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-17-12.htm - 1K - Match Info - Similar pages
5-17-6
Section 5-17-6 Withdrawal of members; expulsion for cause; termination of membership;
readmission. (a) Any member may withdraw from the credit union at any time, but notice of
withdrawal may be required. All amounts paid on shares or as deposits of an expelled or withdrawing
member, with any dividends or interest accredited thereto to the date thereof shall, as funds
become available and after deducting all amounts due from the member to the credit union,
be paid to the individual. The credit union may require 60 days' notice of intention to withdraw
shares and 30 days' notice of intention to withdraw deposits. A credit union may reserve in
its bylaws the right to pay out not more than one half of its monthly receipts to withdrawing
members and depositors. (b) The board of directors may expel a member for cause by a majority
vote of a quorum of directors, pursuant to a written policy adopted by the board. For the
purposes of this section, cause includes a loss to the credit union, a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-17-6.htm - 2K - Match Info - Similar pages
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