5-24-13
Section 5-24-13 Alteration of rights. (a) Rights at death under Section 5-24-12 are determined
by the type of account at the death of a party. The type of account may be altered by written
notice given by a party to the financial institution to change the type of account or to stop
or vary payment under the terms of the account. The notice must be signed by a party and received
by the financial institution during the party's lifetime. (b) A right of survivorship arising
from the express terms of the account, Section 5-24-12, or a POD designation, may not be altered
by will. (Acts 1997, No. 97-644, p. 1177, §1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-24-13.htm - 934 bytes - Match Info - Similar pages

24-11-3
Section 24-11-3 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION,
EFFECTIVE MARCH 28, 2018. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. Definitions. As used
in this chapter, the following terms shall have the following meanings: (1) ACCOUNT HOLDER.
A first-time and second chance home buyer who establishes, individually or jointly with another
first-time and second chance home buyer, a first-time and second chance home buyer savings
account. (2) ALLOWABLE CLOSING COSTS. A disbursement listed on a settlement statement for
the purchase of a single-family residence in Alabama by a first-time and second chance home
buyer. (3) DEPARTMENT. Alabama Department of Revenue. (4) ELIGIBLE COSTS. The down payment
and allowable closing costs for the purchase of a single-family residence in Alabama by a
first-time and second chance home buyer. Eligible costs do not include any costs incurred
prior to the establishment of a first-time and second chance home buyer savings...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/24-11-3.htm - 2K - Match Info - Similar pages

5-27-2
Section 5-27-2 (Effective January 1, 2018) Definitions. When used in this chapter, the following
words and phrases shall have the following meanings: (1) APPROPRIATE STATE OR FEDERAL REGULATORY
AGENCY. The state or federal agency that is statutorily responsible for the supervision of
all or part of the operations of a participating financial institution. (2) DEPOSITOR. An
individual member or customer of a financial institution who meets all of the following requirements:
a. Maintains a qualifying account at a financial institution participating in a savings promotion
contest. b. Is in good standing at a financial institution authorized to do business in Alabama.
c. Is 18 years of age or older. (3) ENTRY. A chance or chances obtained by a depositor to
win a designated prize or prizes in a savings promotion contest by complying with the terms
and conditions of a savings promotion contest. (4) FINANCIAL INSTITUTION. A bank, savings
institution, or credit union authorized to do business...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-27-2.htm - 2K - Match Info - Similar pages

24-11-4
Section 24-11-4 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION,
EFFECTIVE MARCH 28, 2018. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. Establishment and Use
of First-time and Second Chance Home Buyer Savings Account. (a) Beginning January 1, 2019,
a first-time and second chance home buyer may open an account with a financial institution
designated in its entirety by the financial institution as a first-time and second chance
home buyer savings account. (b) Funds from a first-time and second chance home buyer savings
account may be used only to pay a first-time and second chance home buyer's eligible costs
for the purchase of a single-family residence in Alabama. (c) A first-time and second chance
home buyer may jointly own a first-time and second chance home buyer savings account with
another first-time and second chance home buyer if the joint account holders file a joint
income tax return. (d) Only cash and marketable securities may be contributed to a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/24-11-4.htm - 1K - Match Info - Similar pages

11-47-26
Section 11-47-26 Payment of municipal employees by direct deposit of wages. (a) A municipality
may adopt a policy to require new employees hired by the municipality after the adoption of
the policy to participate in direct deposit of the employee's wages. (b) If a municipality
elects to pay the wages of its employees by direct deposit, the municipality shall do all
of the following: (1) Provide a municipal employee with an electronic fund transfer authorization
form. (2) Deposit the wage of a municipal employee into a personal bank account at a financial
institution selected by the employee on the electronic fund transfer authorization form. (3)
Each time the municipality pays the wage of a municipal employee by direct deposit, provide
the employee with a direct deposit statement that includes: a. The total amount of the wage.
b. Any amount deducted from the wage. c. The amount of the wage directly deposited into the
personal bank account selected by the employee. (c) A municipality...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-47-26.htm - 1K - Match Info - Similar pages

27-20-3
Section 27-20-3 Group disability insurance - Direct payment of those rendering services. Any
group disability policy may, on request by the group policyholder, provide that all, or any
portion, of any indemnities provided by any such policy on account of hospital, nursing, medical,
or surgical services may, at the insurer's option, be paid directly to the hospital or person
rendering such services. Payment so made shall discharge the insurer's obligation with respect
to the amount of insurance so paid. (Acts 1971, No. 407, p. 707, §460.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-20-3.htm - 849 bytes - Match Info - Similar pages

40-18-6.1
Section 40-18-6.1 Gain or loss - Special rules for capital gains invested in opportunity zones.
(a) The provisions in 26 U.S.C. § 1400Z-2 shall be applicable to an investment in an approved
opportunity fund in calculating both of the following: (1) The income tax levied by this chapter,
or the estimated income tax payment. (2) The financial institution excise tax found in Chapter
16. (b) Any approved opportunity fund may enter into a project agreement with ADECA to provide
to the fund's investors impact investment tax credits against any tax liability described
in subdivisions (1) and (2) of subsection (a). The impact investment tax credits shall be
allocated annually, but only to the extent that one or more projects undertaken by the fund
are not producing the returns provided in the project agreement. Provided however, the calculation
of the impact investment tax credit does not guarantee a rate of return that is more than
the 52-week average yield rate for the United States 10-year...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-6.1.htm - 4K - Match Info - Similar pages

5-24-27
Section 5-24-27 Set-off. Without qualifying any other statutory right to set-off or lien and
subject to any contractual provision between a party and a financial institution, if any party
is indebted to a financial institution, the financial institution has a right to set-off against
the entire amount of the account without regard to the net contribution of the parties to
the account. (Acts 1997, No. 97-644, p. 1177, §1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-24-27.htm - 731 bytes - Match Info - Similar pages

5-27-3
Section 5-27-3 (Effective January 1, 2018) Savings promotion contest authorized; conditions.
(a) Subject to supervision by the appropriate federal or state regulatory agency, a financial
institution may conduct a savings promotion contest in accordance with this chapter for the
purposes of encouraging depositors to maintain savings accounts and increase personal savings.
The financial institution may join with other financial institutions to participate in a savings
promotion or contest. (b) A savings promotion contest shall be subject to all of the following
conditions: (1) Subject to any limits the financial institution may place on the number of
entries that may be placed by the depositor, it is structured such that a depositor may place
an entry to win a prize or prizes by doing either of the following: a. Depositing a minimum
specified amount of money or making a specified number of deposits into a qualifying account
in accordance with the terms and conditions of the specific...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-27-3.htm - 2K - Match Info - Similar pages

13A-9-14.1
Section 13A-9-14.1 Fraud by persons authorized to provide goods and services; definitions.
(a) Definitions. - For purposes of this section, the following terms shall have the meanings
ascribed by this subsection: (1) ACQUIRER. A business organization including without limitation
a merchant, financial institution, or an agent of a business organization or financial institution
that authorizes a merchant to accept payment by credit card for money, goods, services, or
anything else of value. (2) CARDHOLDER. The person or organization named on the face of a
credit card to whom or for whose benefit the credit card is issued by an issuer. (3) CREDIT
CARD TRANSACTION RECORD. Credit card slips, electronically recorded information or other documentation
or evidence evidencing a transaction involving a credit card. (4) CREDIT CARD. Any instrument
or device, whether known as a credit card, credit plate, bank service card, banking card,
check guarantee card, or debit card or by any other name,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/13A-9-14.1.htm - 4K - Match Info - Similar pages