10A-1-3.11
Section 10A-1-3.11 Right to amend certificate of formation. (a) A filing entity may amend its
certificate of formation. (b) An amended certificate of formation may contain only provisions
that: (1) would be permitted at the time of the amendment if the amended certificate of formation
were a newly filed original certificate of formation; or (2) effect a change, exchange, reclassification,
or cancellation in the membership or ownership interests or the rights of owners or members
of the filing entity. (Acts 1984, No. 84-290, p. 502, §36; §10-3A-80; amended and renumbered
by Act 2009-513, p. 967, §15.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-1-3.11.htm - 956 bytes - Match Info - Similar pages

27-19-15
Section 27-19-15 Mandatory policy provisions - Change of beneficiary. There shall be a provision
as follows: "Change of Beneficiary: Unless the insured makes an irrevocable designation
of beneficiary, the right to change a beneficiary is reserved to the insured and the consent
of the beneficiary, or beneficiaries, shall not be requisite to surrender or assignment of
this policy or to any change of beneficiary, or beneficiaries, or to any other changes in
this policy." (The first clause of this provision, relating to the irrevocable designation
of beneficiary, may be omitted at the insurer's option.) (Acts 1953, No. 193, p. 247, §3;
Acts 1957, No. 597, p. 834; Acts 1971, No. 407, p. 707, §436.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-19-15.htm - 1K - Match Info - Similar pages

19-3A-106
Section 19-3A-106 Conversion to unitrust. (a) Unless expressly prohibited by the governing
instrument, a trustee may convert a trust into a unitrust as described in this section if
all of the following apply: (1) The trustee has concluded that the conversion will enable
the trustee to better carry out the intent of the settlor or testator and the purposes of
the trust. (2) The trustee gives written notice of the trustee's intention to convert the
trust into a unitrust, including the trustee's initial decisions as set forth below, to all
the qualified beneficiaries. The written notice shall include the following: a. An explanation
of how the unitrust will operate; b. The effective date of the conversion to a unitrust; c.
The unitrust percentage to be used; d. The provisions for prorating a unitrust distribution
for a short year in which a beneficiary's right to payments commences or ceases; e. Whether
the net fair market value of the trust assets will be determined annually or averaged...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-3A-106.htm - 13K - Match Info - Similar pages

27-18-9
Section 27-18-9 Policy provisions - Payment of benefits. The group life insurance policy shall
contain a provision that any sum becoming due by reason of the death of the person insured
shall be payable to the beneficiary designated by the person insured, subject to the provisions
of the policy in the event there is no designated beneficiary as to all, or any part, of such
sum living at the death of the person insured, and subject to any right reserved by the insurer
in the policy and set forth in the certificate to pay at its option a part of such sum not
exceeding $500.00 to any person appearing to the insurer to be equitably entitled thereto
by reason of having incurred funeral or other expenses incident to the last illness or death
of the person insured. (Acts 1971, No. 407, p. 707, §415.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-18-9.htm - 1K - Match Info - Similar pages

5-24-15
Section 5-24-15 Rights of creditors and others. (a) If other assets of the estate are insufficient,
a transfer resulting from a right of survivorship or POD designation under this chapter is
not effective against the estate of a deceased party to the extent needed to pay claims against
the estate and statutory allowances to the surviving spouse and children. (b) A surviving
party or beneficiary who receives payment from an account after death of a party is liable
to account to the personal representative of the decedent for a proportionate share of the
amount received to which the decedent, immediately before death, was beneficially entitled
under Section 5-24-11, to the extent necessary to discharge the claims and allowances described
in subsection (a) remaining unpaid after application of the decedent's estate. A proceeding
to assert the liability may not be commenced unless the personal representative has received
a written demand by the surviving spouse, a creditor, a child, or a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-24-15.htm - 2K - 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.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-24-22.htm - 1K - 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

16-33C-11
Section 16-33C-11 ACES savings agreements. (a) Each savings agreement made pursuant to this
chapter shall include, but shall not be limited to, the following terms and provisions: (1)
The maximum and minimum annual contributions and maximum account balance allowed on behalf
of a designated beneficiary. (2) Provisions for withdrawals, refunds, transfers, returns of
excess contributions and any penalties. (3) The terms and conditions for remitting contributions,
including, but not limited to, that contributions may be made in cash only. (4) The name,
address, date of birth, and Social Security number of the designated beneficiary on whose
behalf the ABLE or ACES savings account is opened. (5) Terms and conditions for designation
of a substitute beneficiary. (6) Terms and conditions for termination of the account, including
any transfers to the state upon the death of the qualified beneficiary, if applicable, refunds,
withdrawals, transfers, applicable penalties, the name of the person...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-33C-11.htm - 4K - Match Info - Similar pages

43-8-253
Section 43-8-253 Effect of homicide on intestate succession, wills, joint assets, life insurance
and beneficiary designations; effect of bona fide purchase by third party or good faith payment
by obligor, etc. (a) A surviving spouse, heir or devisee who feloniously and intentionally
kills the decedent is not entitled to any benefits under the will or under articles 3 through
10 of this chapter, and the estate of decedent passes as if the killer had predeceased the
decedent. Property appointed by the will of the decedent to or for the benefit of the killer
passes as if the killer had predeceased the decedent. (b) Any joint tenant who feloniously
and intentionally kills another joint tenant thereby effects a severance of the interest of
the decedent so that the share of the decedent passes as his property and the killer has no
rights by survivorship. This provision applies to joint tenancies with the right of survivorship
and tenancies in common during the respective lives of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/43-8-253.htm - 3K - Match Info - Similar pages

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