5-17-15
Section 5-17-15 Deposits for minor or trust beneficiaries; deposits in names of two persons. (a) A minor, in his or her own name, may make a general or special deposit in any credit union. The deposit shall be paid only to the minor, or upon his or her order, and not to the parents or guardians of the minor, and the payment shall be valid as against the minor child and his or her parents or guardian. (b) Shares may be issued and withdrawn and deposits received and paid out in the name of a minor or in trust in such manner as the bylaws may provide. The name of the beneficiary must be disclosed to the credit union. If no other notice of the existence and terms of such trust has been given in writing to the corporation, such shares or deposits may, upon the death of the trustee, be transferred to or withdrawn by the person who was named by the trustee as the beneficiary or by his or her legal representative, and such transfer or withdrawal shall release the corporation from liability to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-17-15.htm - 3K - Match Info - Similar pages
16-25-21
Section 16-25-21 Method of financing. Effective October 1, 1997, all the assets of the retirement system shall be credited according to the purpose for which they are held among three funds, namely: The Annuity Savings Fund, the Pension Accumulation Fund, and the Expense Fund. The operation of the former Pension Reserve Fund and the Annuity Reserve Fund shall be discontinued as of such date, the balance of the former Pension Reserve Fund shall be transferred to the Pension Accumulation Fund, and the balance of the former Annuity Reserve Fund shall be transferred to the Pension Accumulation Fund. (1) The Annuity Savings Fund shall be a fund in which shall be accumulated contributions from the compensation of members to provide for their annuities. Contributions to and payments from the Annuity Savings Fund shall be made as follows: a. Each employer shall cause to be deducted from the salary of each member on each and every payroll of such employer for each and every payroll period five...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-25-21.htm - 15K - Match Info - Similar pages
16-25-14
Section 16-25-14 Retirement of members; benefits generally. (a)(1) Any Tier I plan member who withdraws from service upon or after attainment of age 60 and any Tier II plan member who withdraws from service upon or after attainment of age 62, or in the case of a Tier II plan member who is a correctional officer, firefighter, or law enforcement officer as defined in Section 36-27-59, who withdraws from service upon or after attainment of age 56 with at least ten years of creditable service as a correctional officer, firefighter, or law enforcement officer may retire upon written application to the Board of Control setting forth at what time, not less than 30 days nor more than 90 days subsequent to the execution and filing thereof, he or she desires to be retired; provided, that any such member who became a member on or after October 1, 1963, shall have completed 10 or more years of creditable service. (2) Any Tier I plan member who has attained age 60 and any Tier II plan member who...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-25-14.htm - 23K - Match Info - Similar pages
25-5-57
Section 25-5-57 Compensation for disability. (a) Compensation schedule. Following is the schedule of compensation: (1) TEMPORARY TOTAL DISABILITY. For injury producing temporary total disability, the compensation shall be 66 2/3 percent of the average weekly earnings received at the time of injury, subject to a maximum and minimum weekly compensation as stated in Section 25-5-68, but if at the time of injury the employee received average weekly earnings of less than the minimum stated in Section 25-5-68, then he or she shall receive the full amount of the average weekly earnings per week. This compensation shall be paid during the time of the disability, but at the time as a temporary total disability shall become permanent, compensation for the continued total disability shall be governed by (a)(4) of this section with respect to permanent total disability. Payments are to be made at the intervals when the earnings were payable, as nearly as may be, unless the parties otherwise agree....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/25-5-57.htm - 28K - Match Info - Similar pages
12-18-156
Section 12-18-156 Payments from plan; optional allowances; replacement beneficiaries. (a) Should a member cease to be a judge or clerk except by death or by retirement under the provisions of this article, the contributions standing to the credit of his or her individual account in the fund shall be paid to him or her upon demand and, in addition to such payment, there shall be paid five-tenths of the interest accumulations standing to the credit of his or her individual account if he or she shall have not less than three but less than 16 years of membership service, six-tenths of such interest accumulations if he or she shall have not less than 16 but less than 21 years of membership service, seven-tenths of such interest accumulations if he or she shall have not less than 21 but less than 26 years of membership service and eight-tenths of such interest accumulations if he or she shall have not less than 26 years of membership service. (b) In case of the death of a member eligible for...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/12-18-156.htm - 6K - Match Info - Similar pages
12-17-227.6
Section 12-17-227.6 (Effective November 8, 2016, subject to contingencies) Payments from plan; optional allowances; replacement beneficiaries. (a) Should a member cease to be a district attorney except by death or by retirement under the provisions of this division, the contributions standing to the credit of his or her individual account in the fund shall be paid to him or her upon demand and, in addition to such payment, there shall be paid five-tenths of the interest accumulations standing to the credit of his or her individual account if he or she shall have not less than three but less than 16 years of membership service, six-tenths of such interest accumulations if he or she shall have not less than 16 but less than 21 years of membership service, seven-tenths of such interest accumulations if he or she shall have not less than 21 but less than 26 years of membership service and eight-tenths of such interest accumulations if he or she shall have not less than 26 years of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/12-17-227.6.htm - 5K - Match Info - Similar pages
5-24-23
Section 5-24-23 Payment on POD designation. A financial institution, on request, may pay sums on deposit in an account with a POD designation to: (1) One or more of the parties, whether or not another party is disabled, incapacitated, or deceased when the payment is requested and whether or not a party survives another party; (2) The beneficiary or beneficiaries, if proof of death is presented to the financial institution showing that the beneficiary or beneficiaries survived all persons named as parties; or (3) The personal representative, if any, if proof of death is presented to the financial institution showing that the deceased party was the survivor of all other persons named on the account either as a party or beneficiary; or (4) The persons named in Section 5-5A-38, in accordance with the procedures in Sections 5-5A-38 and 5-5A-39. (Acts 1997, No. 97-644, p. 1177, §1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-24-23.htm - 1K - Match Info - Similar pages
34-13-11
Section 34-13-11 Authorizing agent; right of disposition. (a) A person, who is at least 18 years of age and of sound mind, may enter into a contract to act as authorizing agent and direct the location, manner, and conditions of disposition of remains and arrange for funeral goods and services to be provided upon death. Except as otherwise provided in subsection (b), the right to control the disposition of the remains of a deceased person as an authorizing agent, including the location, manner, and conditions of disposition and arrangements for funeral goods and services to be provided, shall vest in the following persons in the priority listed and the order named, provided the person is at least 18 years of age and of sound mind: (1) The person designated by the decedent as authorized to direct disposition pursuant to Public Law No. 109-163, Section 564, as listed on the decedent's United States Department of Defense Record of Emergency Data, DD Form 93, or its successor form, if the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/34-13-11.htm - 10K - Match Info - Similar pages
5-24-22
Section 5-24-22 Payment on multiple-party account. A financial institution, on request, may pay sums on deposit in a multiple-party account to: (1) One or more of the parties, whether or not another party is disabled, incapacitated, or deceased when payment is requested and whether or not the party making the request survives another party; or (2) The personal representative, if any, of a deceased party if proof of death is presented to the financial institution showing that the deceased party was the survivor of all other persons named on the account either as a party or beneficiary, unless the account is without right of survivorship under Section 5-24-12; or (3) The persons named in Section 5-5A-38, in accordance with the procedures set forth in Sections 5-5A-38 and 5-5A-39. (Acts 1997, No. 97-644, p. 1177, §1.)...
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45-37A-52.228
Section 45-37A-52.228 Survivor's benefits. (a) Effective July 1, 2002, in the event of the death of a retiree or participant who, on the date of his or her death was eligible for voluntary retirement under Section 45-37A-51.220, there may be payable a monthly survivor's benefit equal to 60 percent of the monthly retirement benefit which the retiree was receiving or was entitled to receive prior to his or her death or which the participant would have been entitled to receive had he or she retired under Section 45-37A-51.220 on the day preceding his or her death; notwithstanding anything to the contrary, the survivor's benefit may be increased pursuant to Section 45-37A-51.242. In the event any survivor is being paid an amount in excess of 60 percent of the retiree's monthly benefit on May 1, 2006, such survivor's benefits shall not be decreased. (b)(1) Effective July 1, 2002, upon the death of any retiree or participant who at the time of his or her death was not eligible for voluntary...
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