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27-32-23
Section 27-32-23 Deposit of moneys collected. The moneys collected by the commissioner in a
proceeding under this chapter shall be from time to time deposited in one or more state or
national banks, savings banks, or trust companies; and, in the case of the insolvency or voluntary
or involuntary liquidation of any such depositary which is an institution organized and supervised
under the laws of this state, such deposits shall be entitled to priority of payment on an
equality with any other priority given by the banking laws of this state. The commissioner
may, in his discretion, deposit such moneys, or any part thereof, in a national bank or trust
company as a trust fund. (Acts 1971, No. 407, p. 707, §642.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-32-23.htm - 1K - Match Info - Similar pages
27-37-1
Section 27-37-1 Assets - Generally. In any determination of the financial condition of an insurer,
there shall be allowed as assets only such assets as are owned by the insurer and which consist
of: (1) Cash in the possession of the insurer or in transit under its control, and including
the true balance of any deposit in a solvent bank or trust company; (2) Investments, securities,
properties, and loans acquired, or held, in accordance with this title and in connection therewith
the following items: a. Interest due or accrued on any bond or evidence of indebtedness which
is not in default and which is not valued on a basis including accrued interest; b. Declared
and unpaid dividends on stock and shares, unless such amount has otherwise been allowed as
an asset; c. Interest due or accrued upon a collateral loan in an amount not to exceed one
year's interest thereon; d. Interest due or accrued on deposits in solvent banks and trust
companies, and interest due or accrued on other assets,...
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41-15A-2
Section 41-15A-2 Distribution of proceeds. (a) Proceeds from the Penny Trust Fund which are
dedicated for the promotion of the public health shall be transmitted by the Comptroller to
the Department of Public Health for the Alabama Drug Assistance Program and other similar
programs upon application of the State Health Officer and approval by the board. (b) Proceeds
from the Penny Trust Fund which are dedicated for the promotion of the public health of children
in public schools shall be transmitted by the Comptroller to the State Board of Education
upon application of the State Superintendent of Education and approval by the board. Revenues
received by any school system from the Penny Trust Fund shall not replace or supplant any
existing funds or programs from any other source. (c) There is appropriated from the Penny
Trust Fund for any fiscal year accumulated earnings, available and not appropriated in any
fiscal year 2001 and forward sufficient to fund all applications and proposals...
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41-4-92
Section 41-4-92 Disposition of departmental and institutional fees, receipts, etc. All fees,
receipts and income collected or received by any department, board, bureau, commission, agency
or office or institution of the state shall be paid into the State Treasury or deposited in
an approved state depository to the credit of the General Fund of the State of Alabama or
to the credit of a special fund if the latter is required by law. No such payment or deposit
shall be subject to withdrawal by any such department, board, bureau, commission, agency,
office or institution, and all appropriations made to any such department, board, bureau,
commission, agency, office or institution shall be specified amounts and shall be subject
to allotment as provided in this article. Anything herein to the contrary notwithstanding,
however, this article shall not apply to the fees, receipts and income (other than appropriations)
of the Department of Conservation and Natural Resources, the Department of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-4-92.htm - 2K - Match Info - Similar pages
9-15-44
Section 9-15-44 Exchanges of school lands. The Commissioner of Conservation and Natural Resources
is hereby authorized to exchange school lands for other lands of equal value, with the approval
of the Governor and the State Superintendent of Education. The Commissioner of Conservation
and Natural Resources shall have the title to the land to be received by the state examined;
and, if in his opinion said title is without defect, he shall so certify to the Governor and,
provided the Governor and the State Superintendent of Education approve, the Governor shall
cause patents to be issued to those exchanging said lands. Such patent shall vest a fee simple
title in the grantee named therein. The title to the land received in exchange for school
land shall be in the State of Alabama in trust for the use of schools and shall be classified
as school land as defined by law. (Acts 1939, No. 581, p. 949, §12; Code 1940, T. 8, §244.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/9-15-44.htm - 1K - Match Info - Similar pages
16-13-300
Section 16-13-300 Legislative intent; construction. (a) It is the intention of the Legislature
by the adoption of this article to authorize each county board of education and each city
board of education in the State of Alabama to issue and sell, at public or private sale, upon
the prior written approval of the State Superintendent of Education, warrants payable from,
and secured by a pledge of, revenues of such board which are lawfully available and are designated
by the board therefor, for educational and public school purposes, including, without limitation,
payment of the costs of public school facilities and the refunding of valid indebtedness of
such board, regardless of whether such indebtedness was incurred under this article or under
other provisions of law and regardless of whether such indebtedness is a direct or indirect
obligation of such board and to authorize counties and municipalities to provide financial
and other assistance to boards of education within the...
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16-22-9
Section 16-22-9 Educational authority sick leave bank plans. (a) The following terms shall
have the following meanings, respectively: (1) CATASTROPHIC ILLNESS. Any illness, injury,
or pregnancy or medical condition related to childbirth, certified by a licensed physician
which causes the employee to be absent from work for an extended period of time. (2) CHIEF
EXECUTIVE OFFICER. The superintendent of any public county or city school system; the President
of the Alabama Institute for Deaf and Blind; the president of any two-year school or college
under the auspices of the State Board of Education; the President of Alabama Agricultural
and Mechanical University; the Superintendent of the Department of Youth Services School District;
the Executive Director of the Alabama School of Fine Arts; and the Executive Director of the
Alabama High School of Mathematics and Science. (3) EDUCATIONAL AUTHORITY or AUTHORITY or
BOARD. Each city and county board of education; the Board of Trustees of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-22-9.htm - 9K - Match Info - Similar pages
23-7-17
Section 23-7-17 Bonds authorized. (a) Whenever it shall become necessary that monies be raised
for qualified projects, including monies to be used to refund any bonds then outstanding,
the bank may issue bonds as provided in this chapter. (b) The bank may pledge any of its revenue
or funds to the payment of its bonds, subject to any prior pledges for other outstanding bonds
or other financial assistance of the bank and, in the case of those revenues described in
subdivisions (1) and (2) of subsection (a) and subsection (b) of Section 23-7-6, pledges by
Alabama Federal Aid Highway Finance Authority and Alabama Highway Finance Corporation of the
revenues for bonds issued by those entities. Bonds may be secured by a pledge of any loan
obligation owned by the bank, any grant, contribution, or guaranty from the United States,
the state, or any corporation, association, institution, or person, any other financial assistance
provided by the bank, any bond insurance, guarantees, letters of...
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35-12-71
Section 35-12-71 Definitions. As used in this article, unless the context otherwise requires,
the following terms shall have the meanings respectively ascribed to them by this section:
(1) APPARENT OWNER. A person whose name appears on the records of a holder as the person entitled
to property held, issued, or owing by the holder. (2) BUSINESS ASSOCIATION. A corporation,
joint stock company, investment company, partnership, unincorporated association, joint venture,
limited liability company, business trust, trust company, safe deposit company, financial
organization, insurance company, mutual fund, utility, or other business entity consisting
of one or more persons, whether or not for profit. (3) DOMICILE. The state of incorporation
of a corporation and the state of the principal place of business of a holder other than a
corporation. (4) FINANCIAL ORGANIZATION. A savings and loan association, building and loan
association, industrial loan organization, credit union, cooperative bank,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-12-71.htm - 6K - Match Info - Similar pages
40-16-6
Section 40-16-6 Remittance and disposition of tax. (a) The remittance of the excise tax due
under this chapter shall be made to the Department of Revenue at Montgomery, Alabama, with
checks payable to the Department of Revenue. (b) The Department of Revenue shall promptly
distribute the balance of financial institution excise tax revenue, net of refunds, as of
the close of each calendar quarter, with 50 percent of the revenue distributed to the general
fund, 33.3 percent distributed to municipalities, and the remaining 16.7 percent distributed
to counties. (c) Beginning with the 2019 municipal financial institution excise tax distribution,
each municipality shall receive a percentage share of the total municipal financial institution
excise tax revenue equal to its average percentage share of the total municipal financial
institution revenue distribution over the five years ending in 2018. (d) The first 20 percent
of total county financial institution excise tax revenue shall be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-16-6.htm - 2K - Match Info - Similar pages
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