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5-1A-2
Section 5-1A-2 Definitions. For the purposes of Chapters 1A through 12A of this title, the
following terms shall have the meanings respectively ascribed to them by this section: (1)
BANK. Any banking corporation or trust company organized under the laws of this state under
the jurisdiction of the superintendent of banks of this state or organized under the laws
of the United States having its principal place of business in this state. (2) SUPERINTENDENT.
The Superintendent of Banks of this state. (3) RECEIVERSHIP COURT. The circuit court of the
county in which is located the principal office of a bank in receivership. (4) NATIONAL BANK.
A national banking association organized pursuant to 12 U.S.C. § 21. (5) CAPITAL. The sum
of the par value of the authorized shares of a bank which have been issued and remain outstanding.
(6) SURPLUS. The aggregate of the amounts transferred to surplus pursuant to Section 5-5A-21
and any amounts subsequently designated as such by action of the board...
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27-3-29
Section 27-3-29 Protection of state insurers against foreign discriminatory or onerous requirements.
(a) The purpose of this section is to aid in the protection of insurers formed under the laws
of Alabama and transacting insurance in other states or countries against discriminatory or
onerous requirements under the laws of such states or countries or the administration thereof.
(b) When by or pursuant to the laws of any other state or foreign country, any taxes, licenses,
and other fees, in the aggregate, and any fines, penalties, deposit requirements, or other
material obligations, prohibitions, or restrictions are, or would be, imposed upon Alabama
insurers, or upon the agents or representatives of such insurers, which are in excess of such
taxes, licenses, and other fees, in the aggregate, or which are in excess of the fines, penalties,
deposit requirements, or other obligations, prohibitions, or restrictions directly imposed
upon similar insurers, or upon the agents or...
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27-31C-4
Section 27-31C-4 Issuance of license - Requirements. (a)(1) The commissioner may not issue
a license to an Alabama Coastal Captive Insurance Company unless the company possesses and
maintains unimpaired paid-in capital of not less than one million dollars ($1,000,000); however,
in the case of an Alabama Coastal Captive Insurance Company formed as a sponsored captive
insurance company that does not assume any risk, where the risks insured by the protected
cells are homogenous, the commissioner may reduce this amount to an amount not less than five
hundred thousand dollars ($500,000). (2) a. Except for an Alabama Coastal Captive Insurance
Company formed as a sponsored captive insurance company that does not assume any risk, the
capital must be in the form of cash, cash equivalent, or an irrevocable letter of credit issued
by a bank chartered by this state or a member bank of the Federal Reserve System with a branch
office in this state or as approved by the commissioner. b. For an...
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33-2-1
Section 33-2-1 Authority of state and State Docks Department generally. In addition to the
authority granted to the State of Alabama by the provisions of Section 93 of the Constitution
of Alabama as amended, and any other laws of this state, the state is hereby expressly authorized
and empowered to engage in works of internal improvement by promoting, developing, constructing,
maintaining and operating along navigable rivers, streams or waterways now or hereafter existing
within this state, all manner of dock facilities, elevators, compresses, warehouses, water
and rail terminals and other structures and facilities and improvements of every kind needful
for the convenient use of same, in aid of commerce and use of the waterways of this state;
provided, that all such works, improvements and facilities shall always be and remain under
the management and control of the Alabama State Docks Department. The Alabama State Docks
Department shall be the agency of the state under which the state...
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34-28A-40
Section 34-28A-40 Creation; composition; qualifications, appointment, and terms of office of
members; meetings; quorum; vacancies; removal of members. (a) There is established as an independent
agency of the executive branch of the government of the State of Alabama, the Alabama Board
of Examiners for Speech-Language Pathology and Audiology. (b) The board shall be comprised
of seven members, who shall be appointed by the Governor from names submitted to the Governor
by the association. Not more than one board member from any United States Congressional District
shall be appointed to serve at the same time. Those persons nominated or appointed to serve
on the board shall have been engaged in rendering services to the public, or teaching, or
research, or any combination of service to the public, teaching, or research, in speech-language
pathology or audiology, or both for at least five years immediately preceding their appointment,
and shall be citizens of this state. At least three...
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45-49-42
Section 45-49-42 Legislative findings. The Legislature of the State of Alabama declares and
finds that the business of operating massage parlors as defined herein are businesses affecting
the public health, safety, and general welfare; that such businesses have been used in Mobile
County and elsewhere as fronts for the conduct of prostitution, assignation, and lewdness;
that the method of operation of such business generally is such that female persons bargain
with male customers for illicit sexual activities, including prostitution and sodomy, only
after performing so-called massages while the male customer is nude, and after engaging the
customer as part of the so-called massage in sexual foreplay to the point of sexual arousal;
that because of the method of operation the gathering of evidence by law enforcement officers
sufficient for the officers to make an arrest or to institute some other civil proceeding
requires male officers to pose as customers, and to perform degrading,...
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5-7A-23
Section 5-7A-23 Declaration of incorporation. Before the issuing of such certificate by the
superintendent a majority of the directors of such bank shall file in the office of the official
or officials with which a certificate of incorporation would be filed under the business corporation
laws of this state a declaration of incorporation, which shall show: (1) The name to be assumed
and used by the corporation; (2) The objects of the corporation, among which shall be the
conversion of a national bank with the name and description of the same, into a state bank
with all the power and authority that may be exercised by a state bank; (3) The location of
its principal office; (4) The amount of its total authorized capital and the amount of its
paid-in capital; (5) The name and post-office address of each officer and director; (6) The
time limit, if any, for the duration of the corporation; and (7) A certificate, acknowledged
before a notary public by a majority of the directors of the...
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5-8A-30
Section 5-8A-30 Collection of claims of bank, etc. Upon taking possession of any of the property
and business of any bank, the receiver may collect moneys due to such bank and do such other
acts as are necessary to conserve its assets and business, and shall proceed to liquidate
the affairs thereof as provided in this chapter. The receiver shall collect all debts due
and claims belonging to the bank, whether in this state or in any other state, and may proceed
in courts of competent jurisdiction to enforce said claims in this state and in other states.
"Claims" shall include any right of action against any surety, fidelity or insurance
company, auditor or any past or present officer or director of such bank for mismanagement,
violations of laws or regulations or other breach of duty. It shall be the duty of the receiver
or his duly authorized agent to satisfy on the proper record all mortgages, judgments, security
interests, or other liens held or owned by any insolvent bank that have...
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11-54A-1
Section 11-54A-1 Legislative intent. The revitalization and redevelopment of any business district
of any city in Alabama develops and promotes for the public good and general welfare trade,
commerce, industry, and employment opportunities and promotes the general welfare of the city
and state by creating a climate favorable to the location of new industry, trade, and commerce.
Revitalization and redevelopment of a business district by financing projects under the chapter
will develop and promote for the public good and general welfare trade, commerce, industry,
and employment opportunities and will promote the general welfare of the city and state. It
is therefore in the public interest and is vital to the public welfare of the people of Alabama,
and it is hereby declared to be the public purpose of this chapter, to so revitalize and redevelop
any business district of any city in the state. (Acts 1985, No. 85-683, §1; Act 2004-630,
p. 1439, §1.)...
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11-81-183
Section 11-81-183 Designation of depository; disposition and disbursement of gross revenue
account and special funds by depository. The governing body of the borrower shall designate
as depository for the "gross revenue account" and each of the special funds provided
for in Section 11-81-181 a bank or trust company duly qualified and doing business within
the State of Alabama. The moneys in said account and in each of the said funds shall be received
and held by the respective depositories therefor in separate and special accounts as trust
funds for the benefit of the borrower and the holders of the bonds and coupons as their respective
interests may appear and shall be applied only for the respective purposes specified in the
authorizing proceedings or any trust indenture provided for in the authorizing proceedings;
provided, that the authorizing proceedings or such trust indenture may provide that any depository
for said account or for the said replacement and extension fund shall...
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