23-7-20
Section 23-7-20 Securing of bonds - Trust indenture. (a) Bonds may be secured by a trust indenture
between the bank and a corporate trustee, which may be the State Treasurer or any bank having
trust powers or any trust company doing business in this state. A trust indenture may contain
provisions for protecting and enforcing the rights and remedies of the bondholders which are
reasonable and proper, including covenants setting forth the duties of the bank in relation
to the exercise of its powers and the custody, safekeeping, and application of its money.
The bank may provide by the trust indenture for the payment of the proceeds of the bonds and
all or any part of the revenues of the bank to the trustee under the trust indenture or to
some other depository, and for the method of its disbursement with safeguards and restrictions
prescribed by it. All expenses incurred in performing the obligations of the bank under the
trust indenture may be treated as part of its operating expenses....
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40-16-1
exception that the credit for licenses or taxes as provided by Section 40-16-8 and the rules
adopted pursuant thereto by the Department of Revenue will not apply to amounts of excise
tax on financial institutions imposed hereby and paid by such parent corporation. Financial
institution shall not mean or include individual citizens and fiduciaries acting in a representative
capacity for individual citizens, not engaged in a banking, loan, investment, or similar business,
but merely making personal investments of personal or fiduciary funds in bonds,
notes, or other evidences of indebtedness and not made in competition with the business of
national banks, nor shall such term apply to insurance companies or insurance associations
merely making investments of reserves in bonds, notes or other evidences of indebtedness and
not made in competition with the business of national banks. (2) INTERNAL REVENUE CODE or
U.S.C. All references in this chapter to the Internal Revenue Code or to 26...
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25-5-85
Section 25-5-85 Procedure for and effect of payment of compensation to court appointed trustee.
At any time after the amount of an award has been agreed upon by the parties or found and
ordered by the court, a sum equal to the present value of all future installments of compensation
calculated on a six percent basis may, where death or the nature of the injury renders
the amount of future payments certain, by leave of court, be paid by the employer to a bank
or trust company of this state or a national bank doing business in this state to be approved
and designated by the court, and the sum, together with all interest thereon, shall thereafter
be held in trust for the employee or dependent of the employee, who shall have no further
recourse against the employer. The payment of the sum by the employer, evidenced by the receipts
in duplicate of the trustees, one of which shall be filed with the probate judge of the county
in which the injury or death occurred and the other filed with the...
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16-18B-13
Section 16-18B-13 Refunding bonds. Pursuant to the provisions of the aforesaid amendment and
this article, the corporation may, at any time and from time to time, issue for the state
refunding bonds of the state for the purpose of refunding any or all of the bonds authorized
by the amendment then outstanding (including any refunding bonds that may have been previously
issued), whether such refunding shall occur before, at or after the maturity of the bonds
to be refunded. In the discretion of the corporation, refunding bonds may be issued in exchange
for such outstanding bonds or they may be sold and the proceeds thereof applied to the purchase,
redemption or payment of outstanding bonds. Refunding bonds to be sold pursuant hereto may
be issued in such principal amount or amounts as shall be determined by the corporation. Pending
the application of the proceeds of refunding bonds issued in accordance with this section,
such proceeds, together with investment income therefrom, and...
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2-3A-35
Section 2-3A-35 Refunding bonds. Pursuant to the provisions of Amendment 618 and this article,
the authority may, at any time and from time to time, issue for the state refunding bonds
of the state for the purpose of refunding any or all of the bonds authorized by Amendment
618 then outstanding (including any refunding bonds that may have been previously issued),
whether such refunding shall occur before, at or after the maturity of the bonds to be refunded.
In the discretion of the authority, refunding bonds may be issued in exchange for such outstanding
bonds or they may be sold and the proceeds thereof applied to the purchase, redemption or
payment of such outstanding bonds. Refunding bonds to be issued in exchange for such outstanding
bonds shall not be issued in a principal amount greater than the principal amount of the bonds
to be refunded. Refunding bonds to be sold pursuant hereto may be issued in such principal
amount or amounts as shall be determined by said authority....
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2-3A-55
Section 2-3A-55 Refunding bonds. Pursuant to the provisions of Amendment 619 and this article,
the authority may, at any time and from time to time, issue for the state refunding bonds
of the state for the purpose of refunding any or all of the bonds authorized by the aforesaid
amendment then outstanding (including any refunding bonds that may have been previously issued),
whether such refunding shall occur before, at or after the maturity of the bonds to be refunded.
In the discretion of the authority, refunding bonds may be issued in exchange for such outstanding
bonds or they may be sold and the proceeds thereof applied to the purchase, redemption or
payment of such outstanding bonds. Refunding bonds to be issued in exchange for such outstanding
bonds shall not be issued in a principal amount greater than the principal amount of the bonds
to be refunded. Refunding bonds to be sold pursuant hereto may be issued in such principal
amount or amounts as shall be determined by said...
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9-14A-16
Section 9-14A-16 Refunding bonds. Pursuant to the provisions of the aforesaid amendment and
this chapter, the corporations may, at any time and from time to time, issue for the state
refunding bonds of the state for the purpose of refunding any or all of the bonds authorized
by the aforesaid amendment then outstanding, including any refunding bonds that may have been
previously issued, whether such refunding shall occur before, at or after the maturity of
the bonds to be refunded. In the discretion of the corporations, refunding bonds may be issued
in exchange for such outstanding bonds or they may be sold and the proceeds thereof applied
to the purchase, redemption or payment of such outstanding bonds. Refunding bonds to be issued
in exchange for such outstanding bonds shall not be issued in a principal amount greater than
the principal amount of the bonds to be refunded. Refunding bonds to be sold pursuant hereto
may be issued in such principal amount or amounts as shall be...
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41-9-963
Section 41-9-963 Bonds and obligations solely and exclusively commission's; resolution recital.
(a) All obligations incurred by the commission and all bonds issued by it shall be solely
and exclusively an obligation of the commission and shall not create an obligation or debt
of the State of Alabama or any county or municipality. (b) All bonds issued by the commission,
while not registered, shall be construed to be negotiable instruments even though they are
payable from a limited source. All coupons applicable to any bonds issued by the commission,
while the applicable bonds are not registered as to both principal and interest, shall likewise
be construed to be negotiable instruments although payable from a limited source. Bonds shall
constitute legal investments for savings banks and insurance companies organized under the
laws of the state; and, unless otherwise directed by the court having jurisdiction or the
document that is the source of authority, a trustee, executor,...
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44-1-7
Section 44-1-7 Alabama Boys Industrial School, Alabama Training School for Girls and Alabama
Industrial School - Donations and endowment funds. In order to make provision for the proper
preservation and application of donations from private sources by gift, devise or otherwise,
heretofore made to the board of trustees of the Alabama Boys Industrial School, the board
of trustees of the Alabama Training School for Girls or the board of trustees of the Alabama
Industrial School for the uses and purposes intended by the private donors and in order to
encourage future donations from private sources by way of gift, devise or otherwise to said
schools and assure prospective private donors of the use thereof at the particular school
or schools designated as the object of donations and to prohibit the diversion of past and
future donations to said schools from the uses and purposes for which the same were made,
the advisory board of each school is authorized and empowered to serve as trustee or...
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27-17A-2
designed for the encasement of human remains and which is usually constructed of wood, metal,
or like material, and ornamented and lined with fabric. (11) CEMETERY. A place that is established,
maintained, managed, operated, or improved and which is dedicated to and used or intended
to be used for the final disposition of human remains and their memorialization. (12) CEMETERY
AUTHORITY. Any person who owns or controls a cemetery or conducts cemetery business. (13)
CEMETERY MERCHANDISE. Any personal property offered for sale, contracted for sale,
or sold for use in connection with the burial of, final disposition, memorialization, interment,
entombment, or inurnment of human remains by a cemetery authority. Cemetery merchandise specifically
includes, but is not limited to, the casket, the outer burial container, and the memorial.
(14) CEMETERY SERVICES. Services provided by a cemetery authority for interment, entombment,
inurnment, and installation of cemetery merchandise. (15)...
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