5-24-21
Section 5-24-21 Authority of financial institution. A financial institution may enter into
a contract of deposit for a multiple-party account to the same extent it may enter into a
contract of deposit for a single-party account, and may provide for a POD designation and
an agency designation in either a single-party account or a multiple-party account. A financial
institution need not inquire as to the source of a deposit to an account or as to the proposed
application of a payment from an account. A financial institution may answer "indebted",
or a similar answer, for the entire amount of an account upon receipt of a garnishment, levy,
or similar process involving a party and pay the entire amount in the account pursuant to
the process even though the process is issued in the name of fewer than all parties. The parties
on the account may assert their claims to ownership of the account in the proceedings out
of which the process arose or was issued. (Acts 1997, No. 97-644, p. 1177,...
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5-24-1
Section 5-24-1 Definitions. In this chapter: (1) ACCOUNT means a contract of deposit between
a depositor and a financial institution, and includes a checking account, savings account,
time deposit, certificate of deposit, and share account. (2) AGENT means a person authorized
to make account transactions for a party. (3) BENEFICIARY means a person named as one to whom
sums on deposit in an account are payable on request after death of all parties or for whom
a party is named as trustee. (4) DEVISEE means any person designated in a will to receive
a testamentary disposition of real or personal property. (5) FINANCIAL INSTITUTION means an
organization authorized to do business under state or federal laws relating to financial institutions,
and includes a bank, trust company, savings bank, building and loan association, savings and
loan company or association, and credit union. (6) HEIRS means those persons, including surviving
spouse, who are entitled under the statutes of intestate...
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5-24-12
Section 5-24-12 Rights at death. (a) Except as otherwise provided in this chapter, on death
of a party sums on deposit in a multiple-party account belong to the surviving party or parties.
If two or more parties survive and one is the surviving spouse of the decedent, the amount
to which the decedent, immediately before death, was beneficially entitled under Section 5-24-11
belongs to the surviving spouse. If two or more parties survive and none is the surviving
spouse of the decedent, the amount to which the decedent, immediately before death, was beneficially
entitled under Section 5-24-11 belongs to the surviving parties in equal shares, and augments
the proportion to which each survivor, immediately before the decedent's death, was beneficially
entitled under Section 5-24-11, and the right of survivorship continues between the surviving
parties. (b) In an account with a POD designation: (1) On death of one of two or more parties,
the rights in sums on deposit are governed by...
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34-27-36
Section 34-27-36 Disciplinary action - Generally. (a) The commission or its staff may on its
own, or on the verified complaint in writing of any person, investigate the actions and records
of a licensee. The commission may issue subpoenas and compel the testimony of witnesses and
the production of records and documents during an investigation. If probable cause is found,
a formal complaint shall be filed and the commission shall hold a hearing on the formal complaint.
The commission shall revoke or suspend the license or impose a fine of not less than one hundred
dollars ($100) nor more than two thousand five hundred dollars ($2,500), or both, or reprimand
the licensee in each instance in which the licensee is found guilty of any of the following
acts set out in this section. The commission may revoke or suspend a license until such time
as the licensee has completed an approved continuing education course and/or made restitution
to accounts containing funds to be held for other...
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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,...
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5-24-4
Section 5-24-4 Forms. (a) A contract of deposit may contain provisions in substantially the
following form to establish the type of account provided, and the account shall be governed
by the provisions of this chapter applicable to an account of that type: UNIFORM SINGLE- OR
MULTIPLE-PARTY ACCOUNT FORM PARTIES [Name One Or More Parties]: ___ ___ OWNERSHIP [Select
One]: ___ SINGLE-PARTY ACCOUNT ___ MULTIPLE-PARTY ACCOUNT Parties own account during the lifetime
of all parties in proportion to net contributions unless there is clear and convincing evidence
of a different intent. RIGHTS AT DEATH [Select One]: ___ SINGLE-PARTY ACCOUNT At death of
party, ownership passes as part of party's estate. ___ SINGLE-PARTY ACCOUNT WITH POD (PAY
ON DEATH) DESIGNATION [Name One Or More Beneficiaries]: ___ ___ At death of party, ownership
passes to POD beneficiaries and is not part of party's estate....
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5-18A-13
Section 5-18A-13 Duties of licensee. (a) A licensee may not knowingly enter into a deferred
presentment transaction with a customer that has outstanding deferred presentment transactions
from any lender at any location that exceeds five hundred dollars ($500) for the term of the
loan. (b) Before a licensee shall present for payment or deposit a check or debit authorization
accepted by the licensee, the check shall be endorsed with the actual name under which the
licensee is doing business. (c) Any agreement for a deferred presentment transaction shall
be in writing and signed by the checking account holder. The customer in a deferred presentment
contract shall have the right to redeem the check or debit authorization from the licensee
before the agreed date of deposit upon payment to the licensee of the amount of the contract.
A licensee shall not defer presentment of any personal check or debit authorization for less
than 10 days nor more than 31 calendar days after the date of the...
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36-25-1
Section 36-25-1 Definitions. Whenever used in this chapter, the following words and terms shall
have the following meanings: (1) BUSINESS. Any corporation, partnership, proprietorship, firm,
enterprise, franchise, association, organization, self-employed individual, or any other legal
entity. (2) BUSINESS WITH WHICH THE PERSON IS ASSOCIATED. Any business of which the person
or a member of his or her family is an officer, owner, partner, board of director member,
employee, or holder of more than five percent of the fair market value of the business. (3)
CANDIDATE. This term as used in this chapter shall have the same meaning ascribed to it in
Section 17-5-2. (4) COMMISSION. The State Ethics Commission. (5) COMPLAINT. Written allegation
or allegations that a violation of this chapter has occurred. (6) COMPLAINANT. A person who
alleges a violation or violations of this chapter by filing a complaint against a respondent.
(7) CONFIDENTIAL INFORMATION. A complaint filed pursuant to this...
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41-18-1
Section 41-18-1 Text. Article I. Findings and Purposes. (a) The party states find that the
South has a sense of community based on common social, cultural and economic needs and fostered
by a regional tradition. There are vast potentialities for mutual improvement of each state
in the region by cooperative planning for the development, conservation and efficient utilization
of human and natural resources in a geographic area large enough to afford a high degree of
flexibility in identifying and taking maximum advantage of opportunities for healthy and beneficial
growth. The independence of each state and the special needs of subregions are recognized
and are to be safeguarded. Accordingly, the cooperation resulting from this agreement is intended
to assist the states in meeting their own problems by enhancing their abilities to recognize
and analyze regional opportunities and take account of regional influences in planning and
implementing their public policies. (b) The purposes of...
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25-4-10
Section 25-4-10 Employment. (a) Subject to other provisions of this chapter, "employment"
means: (1) Any service performed prior to January 1, 1978, which was employment as defined
in this section prior to such date and, subject to the other provisions of this section, services
performed for remuneration after December 31, 1977, including service in interstate commerce,
by: a. Any officer of a corporation; or b. Any individual who, under the usual common law
rules applicable in determining the employer-employee relationship, has the status of an employee;
or c. Any individual other than an individual who is an employee under paragraphs a. or b.
of this subdivision (1) who performs services for remuneration for any person: 1. As an agent-driver
or commission-driver engaged in distributing meat products, bakery products, beverages (other
than milk) or laundry or dry cleaning services for a principal; 2. As a traveling or city
salesman engaged upon a full-time basis in the solicitation on...
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