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36-27-25
Section 36-27-25 Funds for assets of retirement system - Management. (a) The Board of Control
shall be the trustees of the several funds of the Employees' Retirement System created by
this article as provided in Section 36-27-24 and shall have full power to invest and reinvest
the funds, through its Secretary-Treasurer in the classes of bonds, mortgages, common and
preferred stocks, shares of investment companies or mutual funds, or other investments as
the Board of Control may approve, with the care, skill, prudence, and diligence under the
circumstances then prevailing that a prudent person acting in a like capacity and familiar
with such matters would use in the conduct of an enterprise of a like character and with like
aims. Subject to like terms, conditions, limitations and restrictions, the Board of Control,
through its Secretary-Treasurer, shall have full power to hold, purchase, sell, assign, transfer,
and dispose of any investments in which the funds created in Section...
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40-18-24.2
Section 40-18-24.2 Taxation of pass-through entities. (a) For purposes of this section and
Section 40-18-24.3, the following terms shall have the following meanings: (1) MEMBER. An
individual, estate, trust or business trust as defined in Section 40-18-1, a corporation as
defined in Section 40-18-1, or Subchapter K entity as defined in Section 40-18-1, that is
a partner in a general, limited, limited liability, or limited liability limited partnership,
or a member of a limited liability company. (2) NONRESIDENT. a. An individual who is not a
resident of or domiciled in this state during the applicable tax year. b. A nonresident trust
as defined in Section 40-18-1. c. A nonresident estate as defined in Section 40-18-1. d. A
foreign corporation as defined in Section 40-18-1, not commercially domiciled in this state
during the applicable tax year. e. A Subchapter K entity or business trust that is created
or organized under the laws of a jurisdiction other than this state and that is not...
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45-41A-10.08
Section 45-41A-10.08 Powers of authority. (a) The authority shall have the following powers,
together with all powers incidental thereto or necessary to the discharge thereof in corporate
form: (1) To have succession by its corporate name for the duration of time (which may be
perpetuity, subject to Section 45-41A-10.19) specified in its certificate of incorporation.
(2) To sue and be sued in its own name and to prosecute and defend civil actions in any court
having jurisdiction of the subject matter and of the parties. (3) To adopt and make use of
a corporate seal and to alter the same at pleasure. (4) To adopt and alter bylaws for the
regulation and conduct of its affairs and business. (5) To acquire, whether by purchase, construction,
exchange, gift, lease, or otherwise and to refinance existing indebtedness on, improve, maintain,
equip, and furnish one or more projects, including all real and personal properties which
the board of the authority may deem necessary in connection...
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8-19A-4
Section 8-19A-4 Exemptions. The provisions of this chapter do not apply to: (1) A person engaging
in commercial telephone solicitation where the solicitation is an isolated transaction and
not done in the course of a pattern of repeated transactions of like nature. (2) A person
making calls for religious, charitable, political, educational, or other noncommercial purposes
or a person soliciting for a nonprofit corporation if that corporation is properly registered
with the Secretary of State and is included within the exemption of the Alabama Revenue Code
or Section 501(c)(3) of the Internal Revenue Code or rural electric cooperatives formed under
Chapter 6 of Title 37 of the Code of Alabama or affiliates or subsidiaries thereof. (3) A
person soliciting: a. Without the intent to complete or obtain provisional acceptance of a
sale during the telephone solicitation. b. Who does not make the major sales presentation
during the telephone solicitation. c. Without the intent to complete, and...
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2-6-105
Section 2-6-105 Public corporation - Powers. The corporation shall have the following powers,
as well as the other powers specified in this article: (1) To have succession by its corporate
name until dissolved as provided in this article. (2) To sue and be sued and to prosecute
and defend, at law or in equity, in any court that may have jurisdiction of the subject matter
and of the parties. (3) To have and use a corporate seal and to alter the seal at pleasure.
(4) To make and alter all needful bylaws and rules for the transaction of the corporation's
business and the control of its property and affairs. (5) To enter into agreements of any
nature with any public or private entity regarding the construction, renovation, restoration,
improvement, maintenance, management, or operation of the project or any properties or facilities
constituting a part of the project. (6) To take all actions and enter into all agreements
necessary or appropriate to complete the project work. (7) To acquire,...
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5-5A-44
Section 5-5A-44 Acquisition of majority of voting shares of a bank; procedure. (a) No person,
acting directly or indirectly or through or in concert with one or more persons, may acquire
control of a state bank or of any corporation or other entity having control of a state bank,
unless an application is filed with the superintendent for review of the proposed transaction
and for his or her action, if any, as provided in this section. (b) The application shall
be on a form prescribed by the superintendent and shall be made under oath. The application
must contain all information that the superintendent by regulation requires to be furnished
in an application, as well as any information that the superintendent orders to be included
in the particular application being filed and shall be accompanied by the filing fee prescribed
by the Banking Board. For the purposes of this section, the Banking Board may reduce or waive
any prescribed fees for applications where a change of control...
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22-22-9
Section 22-22-9 Powers and duties; enforcement of orders; permits; civil penalties for violations.
(a) It shall be the duty of the commission to control pollution in the waters of the state,
and it shall specifically have the following powers: (1) To study and investigate all problems
concerned with the improvement and conservation of the waters of the state; (2) To conduct,
independently and in cooperation with others, studies, investigation and research and to prepare,
or in cooperation with others prepare, a program or programs, any or all of which shall pertain
to the purity and conservation of the waters of the state or to the treatment and disposal
of pollutants or other wastes, which studies, investigations, research and program or programs
shall be intended to result in the reduction of pollution of the waters of the state according
to the conditions and particular circumstances existing in the various communities throughout
the state; and (3) To propose remedial measures...
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27-1-24
Section 27-1-24 Alabama Insurance Underwriting Association. (a) Every insurer authorized to
write and engaged in writing, on a direct basis, fire and extended coverage insurance in Alabama
shall be and remain a member of the Alabama Insurance Underwriting Association, an unincorporated
nonprofit joint underwriting association organized in 1970 and in continuous existence from
1970 through November 1, 2008. Every such insurer shall be and remain a member of the association
so long as the association is in existence as a condition of such insurer's authority to continue
to transact the business of insurance in Alabama. An insurer that ceases to be a member of
the association due to withdrawal from the business of insurance in Alabama or its withdrawal
from writing fire and extended coverage insurance in Alabama remains liable to the association
as to contracts entered into during the insurer's membership in the association to the same
extent and effect as if the insurer's membership in...
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40-14A-23
Section 40-14A-23 Definition of net worth. (a) Net worth of corporation. The net worth of a
corporation shall equal the aggregate net amount of the following items determined as of the
first day of the corporation's taxable year and adjusted as required in this article: (1)
In the case of a corporation, the sum of the following: a. The issued capital stock and any
additional paid-in capital, without reduction for treasury stock; and b. Retained earnings,
but not less than zero, which shall include any amounts designated for the payment of dividends
until the amounts are definitely and irrevocably placed to the credit of stockholders subject
to withdrawal on demand, and (2) In the case of an entity taxed as a corporation under this
article that does not issue stock, the difference between the book value of the entity's assets
and liabilities, but not less than zero. (b) Net worth of limited liability entities. The
net worth of a limited liability entity shall be an amount equal to the...
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40-18-1
Section 40-18-1 Definitions. For the purpose of this chapter, the following terms shall have
the respective meanings ascribed by this section: (1) ADVANCED FOSSIL-BASED GENERATION. The
production of electricity from fossil-based generation with the use of technology or efficiency
improvements to control or reduce carbon emissions, including but not limited to, technologies
described in 26 U.S.C. § 48A(f), as such provision existed on December 31, 2007. (2) ALTERNATIVE
ENERGY RESOURCES. Coal gasification or liquefaction, nuclear, and advanced fossil-based generation.
(3) BIOMASS. Animals and plants, and the waste, by-products, or derivatives of either, including,
but not limited to, the materials described in 26 U.S.C. §§ 45(c)(2), 45(c)(3), 45K(c)(3),
or 48B(c)(4). (4) BUSINESS TRUST. Any entity which is a business trust for federal income
tax purposes. (5) CAPTIVE REIT. Any REIT whose shares or certificates of beneficial interest
are not regularly traded on an established...
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