36-27-24
Section 36-27-24 Funds for assets of retirement system - Creation; composition; disposition of funds; appropriations. (a) 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 and 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. (b) Annuity Savings Fund. 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: Effective October 1, 1971, each employer shall...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-27-24.htm - 15K - Match Info - Similar pages
9-17-152
Section 9-17-152 Board approval; recordation of order; certificate of effectiveness; dissolution of fields and units; determination of commercial reserves; creation of cavities. (a) The use of an underground reservoir as a storage facility for gas is hereby authorized, provided that the board shall first enter an order, after notice and hearing pursuant to the provisions of Sections 9-17-3 to 9-17-8, inclusive, approving such proposed underground storage of gas and designating the horizontal and vertical boundaries of the storage facility, such boundaries to include within them any necessary or reasonable buffer zone for the purpose of insuring the safe operation of the storage facility and to protect the storage facility against pollution, invasion, and escape or migration of gas therefrom, upon finding as follows: (1) That the storage facility is suitable and feasible for the injection, storage and withdrawal of gas and has a greater value or utility for the storage of gas than for...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/9-17-152.htm - 5K - Match Info - Similar pages
27-20-1
Section 27-20-1 Group disability insurance - Eligible groups. Group disability insurance is hereby declared to be that form of disability insurance covering groups of persons as defined in this section, with or without one or more members of their families or one or more of their dependents, or covering one or more members of the families or one or more dependents of such groups of persons, and issued upon the following basis: (1) Under a policy issued to an employer or trustees of a fund established by an employer, who shall be deemed the policyholder, insuring employees of such employer for the benefit of persons other than the employer. The term "employees" as used in this subdivision shall be deemed to include the officers, managers, and employees of the employer, the individual proprietor or partner if the employer is an individual proprietor or partnership, the officers, managers, and employees of subsidiary or affiliated corporations and the individual proprietors, partners, and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-20-1.htm - 4K - Match Info - Similar pages
32-6-31
Section 32-6-31 Terms of compact. The Driver License Compact is hereby enacted into law and entered into with all other jurisdictions legally joining therein in the form substantially as follows: Driver License Compact Article I Findings and Declaration of Policy (a) The party states find that: (1) The safety of their streets and highways is materially affected by the degree of compliance with state and local ordinances relating to the operation of motor vehicles. (2) Violation of such a law or ordinance is evidence that the violator engages in conduct which is likely to endanger the safety of persons and property. (3) The continuance in force of a license to drive is predicated upon compliance with laws and ordinances relating to the operation of motor vehicles, in whichever jurisdiction the vehicle is operated. (b) It is the policy of each of the party states to: (1) Promote compliance with the laws, ordinances and administrative rules and regulations relating to the operation of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/32-6-31.htm - 10K - Match Info - Similar pages
45-37A-51.09
Section 45-37A-51.09 Compensation limits; forfeitures; required minimum. (a) Compensation in excess of one hundred sixty thousand dollars ($160,000), or such other amount provided in the Internal Revenue Code of 1986, as amended, shall be disregarded. Such amount shall be adjusted for increases in the cost-of-living in accordance with Section 401(a)(17)(B), except that the dollar increase in effect on January 1 of any calendar year shall be effective for the fiscal years beginning with or within such calendar year. If compensation for any prior determination period is taken into account in determining a participant member's benefits for the current fiscal year, the compensation for such prior determination period is subject to the applicable annual compensation limit in effect for that prior period. (b) Notwithstanding the foregoing and to the extent applicable to governmental plans as such are defined in Section 414(d) of the Internal Revenue Code of 1986, as amended, in no event may...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37A-51.09.htm - 9K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-18A-13.htm - 6K - Match Info - Similar pages
8-20-5
Section 8-20-5 Limitations on cancellations, modifications, terminations, and nonrenewals of franchise relationships. (a) Notwithstanding the terms, provisions, or conditions of any agreement or franchise or notwithstanding the terms or provisions of any waiver, no manufacturer shall cancel, terminate, modify, fail to renew, or refuse to continue any franchise relationship with a licensed new motor vehicle dealer unless the manufacturer has: (1) Satisfied the notice requirement of this section. (2) Acted in good faith as defined in this chapter. (3) Has good cause for the cancellation, termination, modification, nonrenewal, or noncontinuance. (b) Notwithstanding the terms, provisions, or conditions of any agreement or franchise or the terms or provisions of any waiver, good cause shall exist for the purposes of a termination, cancellation, modification, nonrenewal, or noncontinuance when: (1) There is a failure by the new motor vehicle dealer to comply with a provision of the franchise...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-20-5.htm - 13K - Match Info - Similar pages
11-101A-6
Section 11-101A-6 Board of directors. (a) Each corporation shall be governed by a board of directors composed of the number of directors provided in the certificate of incorporation as most recently amended. Unless provided to the contrary in its certificate of incorporation, all powers of the authority shall be exercised by the board or pursuant to this authorization. Subject to the provisions of subdivision (8) of subsection (b) of Section 11-101A-4, the board shall consist of directors having those qualifications, being elected or appointed by that person or persons, including, without limitation, the board itself, one or more authorizing subdivisions, or other counties and municipalities, and other entities or organizations and in the manner, and serving for the terms of office, all as shall be specified in the certificate of incorporation of the authority. Notwithstanding the foregoing, no fewer than a majority of the directors shall be elected by the governing body or bodies of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-101A-6.htm - 4K - Match Info - Similar pages
27-15-72
Section 27-15-72 Nonforfeiture benefits. (a) In the case of policies issued on or after January 1, 1972, no policy of life insurance, except as set forth in Section 27-15-82, shall be delivered or issued for delivery in this state unless it shall contain in substance the following provisions, or corresponding provisions which, in the opinion of the commissioner, are at least as favorable to the defaulting or surrendering policyholder as are the minimum requirements specified in this section and are essentially in compliance with Section 27-15-81: (1) That, in the event of default in any premium payment, the insurer will grant, upon proper request not later than 60 days after the due date of the premium in default, a paid-up nonforfeiture benefit on a plan stipulated in the policy, effective as of such due date, of such amount as may be specified in this article. In lieu of such stipulated paid-up nonforfeiture benefit, the insurer may substitute, upon proper request not later than 60...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-15-72.htm - 4K - Match Info - Similar pages
27-27-27
Section 27-27-27 Exclusive management and production of business contracts by domestic insurers. (a) No domestic insurer shall hereafter make any contract whereby any person is granted or is to enjoy in fact the management of the insurer to the substantial exclusion of its board of directors or to have the controlling or preemptive right to produce substantially all insurance business for the insurer, unless the contract is filed with, and approved by, the commissioner. The contract shall be deemed approved unless disapproved by the commissioner within 20 days after date of filing, subject to such reasonable extension of time as the commissioner may require by notice given within such 20 days. Any disapproval shall be delivered to the insurer in writing, stating the grounds therefor. (b) Any such contract shall provide that any such manager or producer of its business shall, within 90 days after expiration of each calendar year, furnish the insurer's board of directors a written...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-27-27.htm - 2K - Match Info - Similar pages
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