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41-10-260
Section 41-10-260 Definitions. The following terms, wherever used in this article, shall have
the following respective meanings unless the context clearly indicates otherwise: (1) AUTHORITY.
The public corporation organized pursuant to the provisions of this article. (2) BOARD OF
DIRECTORS. The board of directors of the authority. (3) BONDS. When used with reference to
debt instruments issued by the authority, means bonds, notes and other forms of indebtedness.
(4) BUILDING COMMISSION. The Building Commission created by Act No. 128 adopted at the 1945
Regular Session of the Legislature of the state, and any successor agency thereto. (5) CHIEF
JUSTICE. The Chief Justice of the Supreme Court of the State of Alabama. (6) GOVERNMENT SECURITIES.
Any bonds or other obligations which as to principal and interest constitute direct obligations
of, or are unconditionally guaranteed by, the United States of America, including obligations
of any federal agency to the extent such obligations are...
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1-3-8
Section 1-3-8 Holidays enumerated; personal leave days; state holidays observed by closing
of state offices; compensatory leave days. (a) Sunday, Christmas Day, New Year's Day, Martin
Luther King, Jr.'s birthday, Robert E. Lee's birthday, George Washington's birthday, Thomas
Jefferson's birthday, Confederate Memorial Day, National Memorial Day, Jefferson Davis' birthday,
the Fourth day of July, Labor Day, Columbus Day and Fraternal Day, Veterans' Day, American
Indian Heritage Day, and the day designated by the Governor for public thanksgiving shall
each be deemed a holiday. If any holiday falls on Sunday, the following day is the holiday.
If any holiday falls on Saturday, the preceding day is the holiday. Veterans' Day shall be
observed by the closing of all state, county, and municipal offices, all banks located within
this state, and the public schools on such day. Public schools, grades K to 12, inclusive,
and all public two-year institutions of higher education shall also be closed...
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27-60-2
Section 27-60-2 Interstate Insurance Product Regulation Compact. The State of Alabama hereby
agrees to the following interstate compact known as the Interstate Insurance Product Regulation
Compact: ARTICLE I. PURPOSES. The purposes of this compact are, through means of joint and
cooperative action among the compacting states: 1. To promote and protect the interest of
consumers of individual and group annuity, life insurance, disability income, and long-term
care insurance products; 2. To develop uniform standards for insurance products covered under
the compact; 3. To establish a central clearinghouse to receive and provide prompt review
of insurance products covered under the compact and, in certain cases, advertisements related
thereto, submitted by insurers authorized to do business in one or more compacting states;
4. To give appropriate regulatory approval to those product filings and advertisements satisfying
the applicable uniform standard; 5. To improve coordination of...
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36-25-14
Section 36-25-14 Filing of statement of economic interests. (a) A statement of economic interests
shall be completed and filed in accordance with this chapter with the commission no later
than April 30 of each year covering the period of the preceding calendar year by each of the
following: (1) All elected public officials at the state, county, or municipal level of government
or their instrumentalities. (2) Any person appointed as a public official and any person employed
as a public employee at the state, county, or municipal level of government or their instrumentalities
who occupies a position whose base pay is seventy-five thousand dollars ($75,000) or more
annually, as adjusted by the commission by January 31 of each year to reflect changes in the
U.S. Department of Labor's Consumer Price Index, or a successor index. (3) All candidates,
provided the statement is filed on the date the candidate files his or her qualifying papers
or, in the case of an independent candidate, on the...
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10A-20-7.04
Section 10A-20-7.04 Powers of corporation. In furtherance of its purposes and in addition to
the powers now or hereafter conferred on business corporations by Alabama statutes, the corporation
shall, subject to the restrictions and limitations contained in this section, have the following
powers: (1) To elect, appoint, and employ officers, agents, and employees to make contracts
and incur liabilities for any of the purposes of the corporation; provided, that the corporation
shall not incur any secondary liability by way of guaranty or endorsement of the obligations
of any person, firm, corporation, joint stock company, association, or trust or in any other
manner. (2) To borrow money from its members and the small business administration and any
other similar federal agency for any of the purposes of the corporation, to issue therefor
its bonds, debentures, notes, or other evidences of indebtedness, whether secured or unsecured,
and to secure the same by mortgage, pledge, deed of...
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5-2A-63
Section 5-2A-63 Savings and Loan Board; appeals from orders, etc., of commissioner or board.
(a) There is hereby created a Savings and Loan Board, consisting of the Savings and Loan Commissioner,
who shall be the ex officio chairman of the board and four persons who shall be appointed
by the Governor and who shall be persons with actual practical experience for at least three
years in the operation and management of an institution of the savings and loan type. The
members of the board shall serve without compensation; except that members shall be paid their
travelling expenses in connection with the performance of their duties as members of the board
plus $10.00 per diem while engaged in the performance of such duties. Such travelling expenses
shall be paid out of the treasury. The board shall have such rights, powers and privileges
and shall be subject to such duties as are provided by Chapter 16 of this title. The board
shall maintain in the office of the commissioner permanent...
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40-20-50
Section 40-20-50 Collection of severance taxes; deposit into fund; distribution of investment
income; trustees; escrow agents; limitations. Any laws or parts of laws to the contrary notwithstanding,
any annual privilege tax levied upon persons engaging in the business of producing or severing
oil or gas or other hydrocarbons from the soil or waters of this state measured by the gross
value of such oil or gas or other hydrocarbons and which tax is applicable only in a particular
county and under which collections were being made on January 1, 1987, or which shall hereafter
be levied pursuant to legislative act, shall be continued and collected only as herein prescribed:
(1) All revenues collected from such local severance taxes shall, beginning the first day
of the month following August 3, 1987, be paid into the general fund of the county exclusively
for transfer and deposit into a trust fund hereby established until the total sum of $15,000,000
in severance tax revenues of the type...
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11-49B-7
Section 11-49B-7 Powers of authority. The authority shall exercise, subject to this chapter,
the following powers and duties necessary to the discharge of its powers and duties in corporate
form: (1) To have succession by its corporate name for the duration of time, which may be
perpetual, subject to the provisions of Section 11-49B-19 specified in its certificate of
incorporation. (2) To sue and be sued in its own name in civil suits and actions and to defend
suits against it. (3) To adopt and make use of a corporate seal and to alter the seal at pleasure.
(4) To adopt and alter bylaws for the regulation and conduct of its affairs and business.
(5) To acquire, receive, and take, by purchase, gift, lease, devise, or otherwise, and to
hold property of every description, real, personal, or mixed, whether located in one or more
counties or municipalities and whether located within or outside the authorizing county. (6)
To make, enter into, and execute contracts, agreements, leases, and...
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23-7-5
Section 23-7-5 Powers and functions. (a) In addition to the powers contained in other provisions
of this chapter, the bank has all power necessary, useful, or appropriate to fund, operate,
and administer the bank, and to perform its other functions including, but not limited to,
the following power to: (1) Have perpetual succession. (2) Adopt, promulgate, amend, and repeal
bylaws, not inconsistent with this chapter for the administration of the bank's affairs and
the implementation of its functions including the right of the board to select qualifying
projects and to provide loans and other financial assistance. (3) Sue and be sued in its own
name. (4) Have a seal and alter it at pleasure, although the failure to affix the seal does
not affect the validity of an instrument executed on behalf of the bank. (5) Make loans to
qualified borrowers to finance the eligible costs of qualified projects and to acquire, hold,
and sell loan obligations at prices and in a manner as the board...
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25-5-8
Section 25-5-8 Employers' options to secure payment of compensation. (a) Option to insure risks.
An employer subject to this chapter may secure the payment of compensation under this chapter
by insuring and keeping insured his or her liability in some insurance corporation, association,
organization, insurance association, corporation, or association formed of employers and workers
or formed by a group of employers to insure the risks under this chapter, operating by mutual
assessment or other plans or otherwise. Notwithstanding the foregoing, the insurance association,
organization, or corporation shall have first had its contract and plan of business approved
in writing by the Commissioner of the Department of Insurance of Alabama and have been authorized
by the Department of Insurance to transact the business of workers' compensation insurance
in this state and under the plan. Notwithstanding any other provision of the law to the contrary,
the obligations of employers under law for...
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