27-60-2
Section 27-60-2 Interstate Insurance Product Regulation Compact. The State of Alabama hereby
agrees to the following interstate compact known as the Interstate Insurance Product Regulation
Compact: ARTICLE I. PURPOSES. The purposes of this compact are, through means of joint and
cooperative action among the compacting states: 1. To promote and protect the interest of
consumers of individual and group annuity, life insurance, disability income, and long-term
care insurance products; 2. To develop uniform standards for insurance products covered under
the compact; 3. To establish a central clearinghouse to receive and provide prompt review
of insurance products covered under the compact and, in certain cases, advertisements related
thereto, submitted by insurers authorized to do business in one or more compacting states;
4. To give appropriate regulatory approval to those product filings and advertisements satisfying
the applicable uniform standard; 5. To improve coordination of...
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40-27-1
Section 40-27-1 Compact adopted; terms. The following Multistate Tax Compact is hereby approved,
adopted and enacted into law by the State of Alabama: Multistate Tax Compact Article I. Purposes.
The purposes of this compact are to: 1. Facilitate proper determination of state and local
tax liability of multistate taxpayers, including the equitable apportionment of tax bases
and settlement of apportionment disputes. 2. Promote uniformity or compatibility in significant
components of tax systems. 3. Facilitate taxpayer convenience and compliance in the filing
of tax returns and in other phases of tax administration. 4. Avoid duplicative taxation. Article
II. Definitions. As used in this compact: 1. "State" means a state of the United
States, the District of Columbia, the Commonwealth of Puerto Rico, or any territory or possession
of the United States. 2. "Subdivision" means any governmental unit or special district
of a state. 3. "Taxpayer" means any corporation, partnership, firm,...
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36-25-1
Section 36-25-1 Definitions. Whenever used in this chapter, the following words and terms shall
have the following meanings: (1) BUSINESS. Any corporation, partnership, proprietorship, firm,
enterprise, franchise, association, organization, self-employed individual, or any other legal
entity. (2) BUSINESS WITH WHICH THE PERSON IS ASSOCIATED. Any business of which the person
or a member of his or her family is an officer, owner, partner, board of director member,
employee, or holder of more than five percent of the fair market value of the business. (3)
CANDIDATE. This term as used in this chapter shall have the same meaning ascribed to it in
Section 17-5-2. (4) COMMISSION. The State Ethics Commission. (5) COMPLAINT. Written allegation
or allegations that a violation of this chapter has occurred. (6) COMPLAINANT. A person who
alleges a violation or violations of this chapter by filing a complaint against a respondent.
(7) CONFIDENTIAL INFORMATION. A complaint filed pursuant to this...
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27-61-1
Section 27-61-1 Surplus Lines Insurance Multi-State Compliance Compact. The Surplus Lines Insurance
Multi-State Compliance Compact Act is enacted into law and entered into with all jurisdictions
mutually adopting the compact in the form substantially as follows: PREAMBLE WHEREAS, with
regard to Non-Admitted Insurance policies with risk exposures located in multiple states,
the 111th United States Congress has stipulated in Title V, Subtitle B, the Non-Admitted and
Reinsurance Reform Act of 2010, of the Dodd-Frank Wall Street Reform and Consumer Protection
Act, hereafter, the NRRA, that: (A) The placement of Non-Admitted Insurance shall be subject
to the statutory and regulatory requirements solely of the insured's Home State, and (B) Any
law, regulation, provision, or action of any State that applies or purports to apply to Non-Admitted
Insurance sold to, solicited by, or negotiated with an insured whose Home State is another
State shall be preempted with respect to such application;...
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7-2A-402
Section 7-2A-402 Anticipatory repudiation. (1) If either party repudiates a lease contract
with respect to a performance not yet due under the lease contract, the loss of which performance
will substantially impair the value of the lease contract to the other, the aggrieved party
may: (a) for a commercially reasonable time, await retraction of repudiation and performance
by the repudiating party; (b) make demand pursuant to Section 7-2A-401 and await assurance
of future performance adequate under the circumstances of the particular case; or (c) resort
to any right or remedy upon default under the lease contract or this article, even though
the aggrieved party has notified the repudiating party that the aggrieved party would await
the repudiating party's performance and assurance and has urged retraction. (2) In addition,
whether or not the aggrieved party is pursuing one of the foregoing remedies, the aggrieved
party may suspend performance or, if the aggrieved party is the lessor,...
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37-9-23
Section 37-9-23 Certificates for common carriers and permits for contract carriers - Transfer
or lease. Any certificate or permit may be transferred or leased subject to the approval of
the commission and under such rules and regulations as may be prescribed by the commission.
Except where a transfer of a certificate or a permit results from the operation of law, approval
of such transfer or lease shall be given only upon a finding by the commission, after notice
and opportunity for a hearing, that such transfer or lease will be consistent with the public
interest. The application for approval shall be made jointly by the transferor and the transferee
or lessor and lessee. No value shall be allowed for any purpose for any certificate or permit
issued under this chapter. (Acts 1945, No. 269, p. 414, §13.)...
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7-2A-304
Section 7-2A-304 Subsequent lease of goods by lessor. (1) Subject to Section 7-2A-303, a subsequent
lessee from a lessor of goods under an existing lease contract obtains, to the extent of the
leasehold interest transferred, the leasehold interest in the goods that the lessor had or
had power to transfer, and except as provided in subsection (2) and Section 7-2A-527(4), takes
subject to the existing lease contract. A lessor with voidable title has power to transfer
a good leasehold interest to a good faith subsequent lessee for value, but only to the extent
set forth in the preceding sentence. If goods have been delivered under a transaction of purchase,
the lessor has that power even though: (a) the lessor's transferor was deceived as to the
identity of the lessor; (b) the delivery was in exchange for a check which is later dishonored;
(c) it was agreed that the transaction was to be a "cash sale"; or (d) the delivery
was procured through fraud punishable as larcenous under the...
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7-2A-505
Section 7-2A-505 Cancellation and termination and effect of cancellation, termination, rescission,
or fraud on rights and remedies. (1) On cancellation of the lease contract, all obligations
that are still executory on both sides are discharged, but any right based on prior default
or performance survives, and the cancelling party also retains any remedy for default of the
whole lease contract or any unperformed balance. (2) On termination of the lease contract,
all obligations that are still executory on both sides are discharged but any right based
on prior default or performance survives. (3) Unless the contrary intention clearly appears,
expressions of "cancellation," "rescission," or the like of the lease
contract may not be construed as a renunciation or discharge of any claim in damages for an
antecedent default. (4) Rights and remedies for material misrepresentation or fraud include
all rights and remedies available under this article for default. (5) Neither rescission nor
a...
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7-2A-531
Section 7-2A-531 Standing to sue third parties for injury to goods. (1) If a third party so
deals with goods that have been identified to a lease contract as to cause actionable injury
to a party to the lease contract (a) the lessor has a right of action against the third party,
and (b) the lessee also has a right of action against the third party if the lessee: (i) has
a security interest in the goods; (ii) has an insurable interest in the goods; or (iii) bears
the risk of loss under the lease contract or has since the injury assumed that risk as against
the lessor and the goods have been converted or destroyed. (2) If at the time of the injury
the party plaintiff did not bear the risk of loss as against the other party to the lease
contract and there is no arrangement between them for disposition of the recovery, his or
her suit or settlement, subject to his or her own interest, is as a fiduciary for the other
party to the lease contract. (3) Either party with the consent of the...
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41-9-928
Section 41-9-928 Property rights. The board may sell, convey, transfer, lease, or donate any
property, franchise, grant, easement, license, or lease or interest therein which it may own
and to transfer, assign, sell, convey, or donate any right, title, or interest which it may
have in any lease, contract, agreement, license, or property. (Acts 1993, 1st Ex. Sess., No.
93-893, p. 177, §10.)...
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