10A-20-7.11
Section 10A-20-7.11 Loans to corporation by members. Each member of the corporation shall make loans to the corporation as and when called upon by it to do so on the terms and other conditions as shall be approved from time to time by the board of directors, subject to the following conditions: (1) All loan limits shall be established at the one thousand dollars ($1,000) amount nearest to the amount computed in accordance with the provisions of this section. (2) No loan to the corporation shall be made if immediately thereafter the total amount of the obligations of the corporation would exceed 50 times the amount then paid in on the outstanding capital stock of the corporation. (3) The total amount outstanding on loans to the corporation made by any member at any one time, when added to the amount of the investment in the capital stock of the corporation then held by the member, shall not exceed: a. Twenty percent of the total amount then outstanding on loans to the corporation by all...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-20-7.11.htm - 3K - Match Info - Similar pages
24-1A-7
Section 24-1A-7 Proceeds from sale of bonds; use; issuance procedures; distribution percentages; allocation of proceeds available for single family mortgage loans. (a) All moneys derived from the sale of any bonds issued by the authority shall be used solely for the purpose or purposes for which the same are authorized, including costs and expenses of issue. Such costs and expenses may include but shall not be limited to: (1) The fiscal, legal and other expenses incurred in connection with the issuance of the bonds; and (2) Except in the case of refunding bonds, interest to accrue on such bonds for a period ending not later than two years from their date. (b) Bonds shall be issued in series, each of which shall be separately designated in the proceedings authorizing their issuance. The board of directors in the proceedings authorizing a series of bonds (other than refunding bonds) shall specify the purposes for which the proceeds of such series shall be used. The proceeds of a series...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/24-1A-7.htm - 5K - Match Info - Similar pages
40-16-1.2
Section 40-16-1.2 Additional items included in federal taxable income; items deducted from federal taxable income. (a) The following items shall be added to federal taxable income for purposes of computing net income under this chapter: (1) The tax due under this chapter that is deducted in computing federal taxable income. (2) State and local taxes that are deducted for purposes of calculating federal taxable income for which a credit is claimed under Section 40-16-8, to the extent the credit is utilized to reduce the tax owed under this chapter. (3) Refunds of federal income taxes deducted in prior tax periods for purposes of computing the tax due under this chapter. (4) Dividends received from a corporation in which the taxpayer owns less than 20 percent of the stock, by vote and value, but only to the extent the dividends are properly deducted in computing taxable income for federal income tax purposes. (5) State, county, and municipal interest income from loans and securities that...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-16-1.2.htm - 3K - Match Info - Similar pages
45-30-234
Section 45-30-234 Work release program. (a) This section shall apply to Franklin County. (b)(1) BOARD. The Franklin County Work Release Board, which shall be composed of the following members: The judge of probate of the county, the sheriff of the county, and the chief deputy of the Franklin County Sheriff's Department. (2) INMATE. Any person, male or female, convicted of a crime and sentenced to the county jail. (c) The employer of an inmate involved in work release shall pay the inmate's wages directly to the board. The board may adopt regulations concerning the disbursement of any earnings of the inmates involved in the work release program. The board shall be authorized to withhold from the inmate's earnings 25 percent of his or her gross earnings to pay such cost incident to the inmate's confinement as the board shall deem appropriate. The board may adopt policies to allow such monies to be spent exclusively for law enforcement and operation of the jail. After 25 percent has been...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-30-234.htm - 3K - Match Info - Similar pages
8-21A-6
Section 8-21A-6 Supplier's duties to dealers - Agreements to maintain inventory; supplier's duty to repurchase inventory, etc. upon termination of agreement; transfer of title and right of possession; continuing security interest; items not covered; civil liability of supplier; remedies. (a) Whenever any dealer enters into a dealer agreement with a supplier wherein the dealer agrees to maintain an inventory of equipment and/or repair parts and the dealer agreement is subsequently terminated or not renewed, whether by either party or mutual consent of both, the supplier shall repurchase the inventory as provided in this section. Further, supplier shall repurchase at its fair market value or assume the lease responsibilities of any specific data processing hardware and/or software that the supplier required the dealer to purchase to satisfy the minimum requirements of the dealer agreement and repurchase at 75 percent of the current net price any merchandising tools, accessories, and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-21A-6.htm - 5K - Match Info - Similar pages
14-6-51
Section 14-6-51 Emergency Prisoner Feeding Fund. There is hereby established the Emergency Prisoner Feeding Fund into which there is automatically appropriated five hundred thousand dollars ($500,000) each state fiscal year beginning with the fiscal year ending September 30, 2019. The state Comptroller shall transfer moneys from the General Fund to the emergency fund at the beginning of each state fiscal year or as soon as possible thereafter. The emergency fund shall not exceed a total accumulated amount of one million dollars ($1,000,000). The funds may be expended from time to time upon joint application by a county commission and the sheriff of a county in case of an unforeseeable emergency cost overrun that fully depletes the Prisoner Feeding Fund in the county treasury. This application shall be supported by the sworn statements by the chair of the county commission and the sheriff stating the reason for the need for emergency funding and the reason for the unforeseeable cost...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/14-6-51.htm - 1K - Match Info - Similar pages
27-36A-20
Section 27-36A-20 Small company alternative valuation. (a) A company calculating reserves under this section shall calculate reserves for ordinary life insurance, accident and health insurance contracts, credit life contracts, group life contracts, annuities, or deposit-type contracts in this state as if the policies were issued before the operative date of the valuation manual. For such policies issued after the operative date of the valuation manual, any mortality and interest rates defined by the valuation manual for net premium reserves shall be used. A company calculating reserves under this section shall comply with Section 27-36A-4(a) instead of Section 27-36A-4(b) and meet all of the following conditions: (1) The company has less than three hundred million dollars ($300,000,000) of ordinary life premium. (2) If the company is a member of a group of life insurers, the group has combined ordinary life premium of less than six hundred million dollars ($600,000,000). (3) The...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-36A-20.htm - 3K - Match Info - Similar pages
27-38-1
Section 27-38-1 Establishment of separate accounts by life insurers to provide for life insurance or annuities and benefits incidental thereto. A life insurer organized under the laws of this state may, by or pursuant to a resolution of its board of directors, establish one or more separate accounts and may allocate thereto amounts, including without limitation proceeds applied under optional modes of settlement or under dividend options, to provide for life insurance or annuities, and benefits incidental thereto, payable in fixed or variable amounts or both, subject to the following: (1) The income, gains, and losses, realized or unrealized, from assets allocated to a separate account shall be credited to, or charged against, the account, without regard to other income, gains, or losses of the insurer; (2) Except as provided in this section, amounts allocated to any separate account, and accumulations thereon, may be invested and reinvested without regard to any requirements or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-38-1.htm - 6K - Match Info - Similar pages
40-18-31.2
Section 40-18-31.2 Factor presence nexus standard for business activity. (a)(1) Individuals who are residents or domiciliaries of this state and business entities that are organized or commercially domiciled in this state have substantial nexus with this state. (2) Nonresident individuals and business entities organized outside of the state that are doing business in this state have substantial nexus and are subject to the taxes provided for in Chapters 14A, 18, and 16 of this title, when in any tax period the property, payroll, or sales of the individual or business in the state, as they are defined in subsection (d), exceeds the thresholds set forth in subsection (b). (b) Substantial nexus is established if any of the following thresholds are exceeded during the tax period: (1) A dollar amount of fifty thousand dollars ($50,000) of property. (2) A dollar amount of fifty thousand dollars ($50,000) of payroll. (3) A dollar amount of five hundred thousand dollars ($500,000) of sales, as...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-31.2.htm - 7K - Match Info - Similar pages
45-29-231.20
Section 45-29-231.20 Inmate work release program. (a) This section shall apply to Fayette County. (b) The following terms shall have the following meanings: (1) BOARD. The Sheriff of Fayette County in consultation with the Chief Deputy of the Fayette County Sheriff's Department. (2) INMATE. Any person convicted of a crime and sentenced to the county jail. (c) The employer of an inmate involved in work release shall pay the inmate's wages directly to the board. The board may adopt regulations concerning the disbursement of any earnings of the inmates involved in the work release program. The board shall be authorized to withhold from the inmate's earnings 40 percent of his or her gross earnings to pay such cost incident to the inmate's confinement as the board shall deem appropriate. The board may adopt policies to allow such monies to be spent exclusively for law enforcement and operation of the jail. After 40 percent has been deducted from the inmate's gross pay, the remainder of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-29-231.20.htm - 3K - Match Info - Similar pages
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