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26-1A-208
Section 26-1A-208 Banks and other financial institutions. Unless the power of attorney otherwise
provides, language in a power of attorney granting general authority with respect to banks
and other financial institutions authorizes the agent to: (1) continue, modify, and terminate
an account or other banking arrangement made by or on behalf of the principal; (2) establish,
modify, and terminate an account or other banking arrangement with a bank, trust company,
savings and loan association, credit union, thrift company, brokerage firm, or other financial
institution selected by the agent; (3) contract for services available from a financial institution,
including renting a safe deposit box or space in a vault; (4) withdraw, by check, order, electronic
funds transfer, or otherwise, money or property of the principal deposited with or left in
the custody of a financial institution; (5) receive statements of account, vouchers, notices,
and similar documents from a financial institution...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/26-1A-208.htm - 2K - Match Info - Similar pages
27-31B-21
Section 27-31B-21 Conversion to or merger with reciprocal insurer. (a) An association captive
insurance company or industrial insured group formed as a stock or mutual corporation may
be converted to or merged with and into a reciprocal insurer in accordance with a plan therefor
and this section. (b) A plan for this conversion or merger shall satisfy both of the following:
(1) Be fair and equitable to the shareholders, in the case of a stock insurer, or the policyholders,
in the case of a mutual insurer. (2) Provide for the purchase of the shares of any nonconsenting
shareholder of a stock insurer or the policyholder interest of any nonconsenting policyholder
of a mutual insurer in substantially the same manner and subject to the same rights and conditions
as are accorded a dissenting shareholder under Article 13, commencing with Section 10-2B-13.01,
of Chapter 2B of Title 10. (c) A conversion authorized under subsection (a) shall satisfy
all of the following: (1) The conversion shall...
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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, ยง642.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-32-23.htm - 1K - Match Info - Similar pages
5-25-3
Section 5-25-3 Persons excluded. The following persons are not subject to the provisions of
this chapter: (1) Any depository institution as defined in Section 3 of the Federal Deposit
Insurance Act, any subsidiary institution that is owned and controlled by a depository institution,
and employees of any of the foregoing. Bank holding companies and subsidiaries of bank holding
companies, thrift holding companies and subsidiaries of thrift holding companies, trust companies,
savings or building and loan associations, savings banks and other thrift institutions, credit
unions, and all other affiliates of each of the above persons if more than 50 percent of the
affiliate's shares or other ownership interests are owned or controlled by such person, and
federally or state constituted agencies and employees of any of the foregoing. (2) Any person
licensed under Section 5-19-22. (3) An attorney licensed to practice law in Alabama who is
not principally engaged in negotiating mortgage loans...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-25-3.htm - 2K - Match Info - Similar pages
11-50A-20
Section 11-50A-20 Trust agreement. In the discretion of the authority, any issue of bonds may
be secured by a trust agreement or indenture made by the authority with a corporate trustee,
which may be any trust company or bank within or without the state having the powers of a
trust company. The trust agreement or indenture may pledge or assign any revenues to be received
by the authority and any proceeds which may be derived from the disposition of any real or
personal property of the authority or proceeds of insurance carried thereon. The resolution
providing for the issuance of bonds and the trust agreement or indenture may contain any provisions
the authority deems necessary or appropriate for protecting and enforcing the rights and remedies
of the bondholders, including the right of appointment of a receiver upon default in the payment
of any principal or interest obligation and the right of any receiver or trustee to enforce
collection of any rates, fees, tolls, charges, or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50A-20.htm - 3K - Match Info - Similar pages
16-64-3
Section 16-64-3 Certification of residency; evaluation of connections with State of Alabama.
(a) An individual claiming to be a resident for purposes of this chapter shall certify by
a signed statement each of the following: (1) A specific address or location within the State
of Alabama as his or her residence. (2) An intention to remain at this address indefinitely.
(3) Possession of more substantial connections with the State of Alabama than with any other
state. (b) Though certification of an address and an intent to remain in the state indefinitely
shall be prerequisites to establishing status as a resident, ultimate determination of that
status shall be made by the institution by evaluating the presence or absence of connections
with the State of Alabama. This evaluation shall include the consideration of all of the following
connections. (1) Consideration of the location of high school graduation. (2) Payment of Alabama
state income taxes as a resident. (3) Ownership of a...
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40-9-1
Section 40-9-1 Persons and property generally. The following property and persons shall be
exempt from ad valorem taxation and none other: (1) All bonds of the United States and this
state and all county and municipal bonds issued by counties and municipalities in this state,
all property, real and personal, of the United States and this state and of county and municipal
corporations in this state; all cemeteries, all property, real and personal, used exclusively
for religious worship, for schools or for purposes purely charitable; provided, that property,
real or personal, owned by any educational, religious or charitable institution, society or
corporation let for rent or hire or for use for business purposes shall not be exempt from
taxation, notwithstanding that the income from such property shall be used exclusively for
education, religious or charitable purposes; all mortgages, together with the notes, debts
and credits secured thereby on real and personal property situated in...
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41-16-123
Section 41-16-123 Provisions applicable to certain property held by division. This section
shall apply only to that property that has been held by the division for a period of not less
than 60 days from the date the property is first published in the list of surplus property,
as set out in subsection (b) of Section 41-16-121, and not purchased by any eligible entity
as set out in subsection (e) of Section 41-16-120 as follows: (1) All contracts made by or
on behalf of the State of Alabama or a department, board, bureau, commission, institution,
corporation, or agency thereof, of whatever nature for the sale or disposal of tangible personal
property owned by the State of Alabama, other than the following: a. Alcoholic beverages.
b. Products of the Alabama Institute for Deaf and Blind. c. Barter arrangements of the state
prison system. d. Books. e. School supplies. f. Food. g. Property used in vocational projects.
h. Livestock. i. Property owned by any state college or university,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-16-123.htm - 9K - Match Info - Similar pages
5-13B-81
Section 5-13B-81 Branches and agencies of foreign banks - Necessity of licensure. (a) No foreign
bank shall transact business in this state except at an Alabama state branch or Alabama state
agency which it is licensed to establish and maintain pursuant to, and at which it conducts
such activities as are permitted by, this article. (b) Subsection (a) shall not be deemed
to prohibit: (1) Any foreign bank which maintains a federal agency or federal branch in this
state from transacting at such federal agency or federal branch such business as it may be
authorized to transact under applicable federal laws and regulations; or (2) Any foreign bank
which does not maintain an Alabama state branch or Alabama state agency from making in this
state loans secured by liens on real property located in this state; or (3) Any foreign bank
which maintains an Alabama branch or agency from transacting business as agent for an affiliated
depository or other institution in accordance with provisions of...
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8-6-11
Section 8-6-11 Registration of securities - Exempt transactions. (a) Except as hereinafter
in this section expressly provided, Sections 8-6-3 through 8-6-9 shall not apply to any of
the following transactions: (1) Any isolated nonissuer transaction, whether effected through
a dealer or not; (2) Any nonissuer transaction in an outstanding security by a registered
dealer if: a. The issuer has a class of securities subject to registration under Section 12
of the Securities Exchange Act of 1934 and has been subject to the reporting requirements
of Sections 13 or 15(d) of the Securities Exchange Act of 1934 for not less than 180 days
before the transaction; or has filed and maintained with the commission for not less than
180 days before the transaction information, in such form as the commission, by rule, specifies,
substantially comparable to the information which the issuer would be required to file under
Section 12(b) or Section 12(g) of the Securities Exchange Act of 1934, or the...
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