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5-6A-20
Section 5-6A-20 Declaration of illegal dividends, discounts of notes, etc. Any director of
a bank who knowingly concurs in any vote or act of the directors of such bank by which it
is intended to pay a cash dividend except from the undivided profits arising from the business
of the bank in violation of Section 5-5A-21, or to make or approve a loan with the stock of
the lending bank as security therefor; to divide, withdraw or in any manner pay to the stockholders
or any of them any part of the capital of the bank, or to purchase or reduce such capital,
except in pursuance of law; or to discount or receive any note or other evidence of debt in
payment of any installment of purchase price of capital actually called in and required to
be paid, or with intention to provide the means of making such payment; or to receive or discount
any note or other evidence of debt with the intent to enable any stockholder to withdraw any
part of the money paid in by him on his stock; or to apply any...
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10A-1-1.03
Section 10A-1-1.03 Definitions. As used in this title, unless the context otherwise requires,
the following terms mean: (1) AFFILIATE. A person who controls, is controlled by, or is under
common control with another person. An affiliate of an individual includes the spouse, or
a parent or sibling thereof, of the individual, or a child, grandchild, sibling, parent, or
spouse of any thereof, of the individual, or an individual having the same home as the individual,
or a trust or estate of which an individual specified in this sentence is a substantial beneficiary;
a trust, estate, incompetent, conservatee, protected person, or minor of which the individual
is a fiduciary; or an entity of which the individual is director, general partner, agent,
employee or the governing authority or member of the governing authority. (2) ASSOCIATE. When
used to indicate a relationship with: (A) a domestic or foreign entity for which the person
is: (i) an officer or governing person; or (ii) a beneficial...
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5-6A-22
Section 5-6A-22 Overdrawing own account; receipt of commissions, etc., to procure loans, discounts,
etc. Any officer, director, or employee of a bank who willfully and knowingly overdraws his
account with such bank and thereby obtains money or funds of any such bank except as the superintendent
shall allow by regulation, or asks, receives, consents or agrees to receive any commission,
emolument, gratuity, or reward or any promise of any commission, emolument or reward, or any
money, property or thing of value or of personal advantage in procuring or endeavoring to
procure for any person, firm or corporation any loan from or the purchase or discount of any
paper, note, draft, check or bill of exchange by any such bank is guilty of a misdemeanor.
(Acts 1980, No. 80-658, §5-6-22.)...
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2-10-62
Section 2-10-62 Certificate of membership; stock of association; member's liability for association's
debts. When a member of an association established without capital stock has paid his membership
fee in full, he shall receive a certificate of membership. No association shall issue stock
to a member until it has been fully paid for. The promissory notes of the members may be accepted
by the association as full or partial payment. The association shall hold the stock as security
for the payment of the note, but such retention as security shall not affect the member's
right to vote. Except for debts lawfully contracted between him and the association, no member
shall be liable for the debts of the association to an amount exceeding the sum remaining
unpaid on his membership fee or his subscription to the capital stock, including any unpaid
balance or any promissory notes given in payment thereof. No stockholder of a cooperative
association shall own more than 20 percent of the common...
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40-14-41
Section 40-14-41 (Not Effective After December 31, 1999) Levy on foreign corporations. (a)
Amount of levy. Every corporation organized under the laws of any other state, nation, or
territory and doing business in this state, except strictly benevolent, educational, or religious
corporations, shall pay annually to the state an annual franchise tax of three dollars ($3)
on each one thousand dollars ($1,000) of the actual amount of its capital employed in this
state. Corporations which have qualified to do business in this state shall for the purpose
of this title prima facie be held to be doing business in Alabama. However, in no event shall
the amount paid by any corporation for annual franchise tax be less than the sum of twenty-five
dollars ($25). (b) Definition of capital. The total capital of such foreign corporation, herein
referred to as the "taxpayer," shall equal the aggregate net amount of the following
items determined in accordance with generally accepted accounting...
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8-6-2
Section 8-6-2 Definitions. When used in this article, unless the context otherwise requires,
the following terms shall have the meanings respectively ascribed to them by this section:
(1) COMMISSION or SECURITIES COMMISSION. The securities commission. (2) AGENT. Any individual
other than a dealer who represents a dealer or issuer in effecting or attempting to effect
sales of securities, but such term does not include an individual who represents an issuer
in: a. Effecting a transaction in a security exempted by subdivisions (1), (2), (3), (4),
(9) or (10) of Section 8-6-10; b. Effecting transactions exempted by Section 8-6-11; or c.
Effecting transactions with existing employees, partners, or directors of the issuer if no
commission or other remuneration is paid or given directly or indirectly for soliciting any
person in this state. A partner, officer, or director of a dealer or issuer is an agent if
he otherwise comes within this definition. (3) DEALER. Any person engaged in the...
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28-3-190
Section 28-3-190 Levy of tax; collection; disposition of proceeds by localities; enforcement
and administration; penalties; exclusive nature of tax. (a) Levy. In addition to the excise
tax levied by Article 5A of Chapter 3 of this title and the licenses provided for by Chapter
3A of this title and by Section 28-3-194, and any acts amendatory thereof, supplementary thereto
or substituted therefor, and municipal and county licenses, there is hereby levied a privilege
or excise tax on every person licensed under the provisions of Chapter 3A who sells, stores,
or receives for the purpose of distribution, to any person, firm, corporation, club, or association
within the State of Alabama any beer. The tax levied hereby shall be measured by and graduated
in accordance with the volume of sales by such person of beer, and shall be an amount equal
to one and six hundred twenty-five thousands cents (1.625 cents) for each four fluid ounces
or fractional part thereof. (b) Collection. The tax levied...
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15-8-150
Section 15-8-150 Contents; sufficiency; use of analogous forms. The forms of indictment set
forth in this section in all cases in which they are applicable, are sufficient, and analogous
forms may be used in other cases. (1) CAPTION, COMMENCEMENT AND CONCLUSION GENERALLY. The
State of Alabama,) Circuit court, ___ session, ___) 20___ The grand jury of said county charge
that, before the finding of this indictment, etc. (describing the offense as in the following
forms), against the peace and dignity of the State of Alabama. E.F.J.,District Attorney of
the ______ circuit. (2) ADVERTISING, ETC., UNREGISTERED SECURITIES. A. B. did, contrary to
law, and subsequent to the ____ day of ____, 20__, advertise (or otherwise describing the
unlawful act) in this state for the purpose of inducing or securing subscriptions to or sales
of the capital stock of the X. Y. company (or otherwise describing the security so advertised),
which said stock (or other security) had not then...
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5-5A-27
Section 5-5A-27 Loans secured by own stock; purchase of own stock; ownership of capital stock
of other banks. No bank shall make a loan taking its own stock as security therefor or directly
or indirectly purchase shares of its own stock, except in pursuance of provisions of law for
reducing its capital stock. No bank shall subscribe for or own capital stock in any other
bank except in the usual course of business in payment of an indebtedness or in order to prevent
a loss on a debt owing to it and the bank must sell said stock within one year from the time
the same is acquired unless this time period is extended by the superintendent; provided,
however, that nothing in this section shall prohibit the ownership by any bank of any stock
in another bank acquired prior to May 28, 1980. (Acts 1980, No. 80-658, §5-5-27.)...
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27-41-36
Section 27-41-36 Prohibited investments; underwriting, etc., of offerings of securities or
property. (a) After January 1, 1978, an insurer shall not invest in nor lend its funds upon
the security of any note or other evidence of indebtedness of any director, officer, or controlling
stockholder of the insurer, except as to policy loans authorized under Section 27-41-25 and
except as provided in Sections 27-1-2, 27-27-26, and 27-37-2 of the Alabama Insurance Code.
(b) No insurer shall underwrite or participate in the underwriting of an offering of securities
or property by any other person; provided, that nothing in this subsection shall prevent an
insurer from purchasing securities or property directly from any person so long as the purchase
is made for investment purposes and not for the purpose of resale through public distribution.
(Acts 1977, No. 408, p. 530, §39.)...
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