40-25-23
Section 40-25-23 Disposition of funds. All revenues collected under the provisions of this
article, except as otherwise provided, shall be paid to the Department of Revenue by check
or draft made payable to the Treasurer of Alabama, and shall be distributed in the following
manner: (1) All of the revenue derived from the tax levied upon cigarettes by Sections 40-25-2
and 40-25-41 shall be deposited in the State Treasury and 38.82 percent of such revenue shall
be divided as follows: a. Six and six one-hundredths percent to the credit of the State Public
Welfare Trust Fund, which is hereby appropriated for general welfare purposes. In this section,
"general welfare purposes" means: 1. The administration of public assistance as
set out in Sections 38-2-5 and 38-4-1; 2. Services, including supplementation and supplementary
services under the federal Social Security Act, to or on behalf of persons to whom such public
assistance may be given under Section 38-4-1; 3. Services to and on behalf...
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7-3-303
Section 7-3-303 Value and consideration. (a) An instrument is issued or transferred for value
if: (1) The instrument is issued or transferred for a promise of performance, to the extent
the promise has been performed; (2) The transferee acquires a security interest or other lien
in the instrument other than a lien obtained by judicial proceeding; (3) The instrument is
issued or transferred as payment of, or as security for, an antecedent claim against any person,
whether or not the claim is due; (4) The instrument is issued or transferred in exchange for
a negotiable instrument; or (5) The instrument is issued or transferred in exchange for the
incurring of an irrevocable obligation to a third party by the person taking the instrument.
(b) "Consideration" means any consideration sufficient to support a simple contract.
The drawer or maker of an instrument has a defense if the instrument is issued without consideration.
If an instrument is issued for a promise of performance, the issuer...
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7-3-310
Section 7-3-310 Effect of instrument on obligation for which taken. (a) Unless otherwise agreed,
if a certified check, cashier's check, or teller's check is taken for an obligation, the obligation
is discharged to the same extent discharge would result if an amount of money equal to the
amount of the instrument were taken in payment of the obligation. Discharge of the obligation
does not affect any liability that the obligor may have as an indorser of the instrument.
(b) Unless otherwise agreed and except as provided in subsection (a), if a note or an uncertified
check is taken for an obligation, the obligation is suspended to the same extent the obligation
would be discharged if an amount of money equal to the amount of the instrument were taken,
and the following rules apply: (1) In the case of an uncertified check, suspension of the
obligation continues until dishonor of the check or until it is paid or certified. Payment
or certification of the check results in discharge of the...
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7-3-502
Section 7-3-502 Dishonor. (a) Dishonor of a note is governed by the following rules: (1) If
the note is payable on demand, the note is dishonored if presentment is duly made to the maker
and the note is not paid on the day of presentment. (2) If the note is not payable on demand
and is payable at or through a bank or the terms of the note require presentment, the note
is dishonored if presentment is duly made and the note is not paid on the day it becomes payable
or the day of presentment, whichever is later. (3) If the note is not payable on demand and
paragraph (2) does not apply, the note is dishonored if it is not paid on the day it becomes
payable. (b) Dishonor of an unaccepted draft other than a documentary draft is governed by
the following rules: (1) If a check is duly presented for payment to the payor bank otherwise
than for immediate payment over the counter, the check is dishonored if the payor bank makes
timely return of the check or sends timely notice of dishonor or...
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27-40-15
Section 27-40-15 Premium financed to be sent to insurance company, agent, or surplus lines
broker; issuance of drafts, etc.; duties with respect to cancellation. (a) The amount of premium
financed, more specifically referred to as "the principal balance" in paragraph
c. of subdivision (3) of subsection (a) of Section 27-40-8, shall be sent to the insurance
company or companies, or the agent or surplus lines broker. (b) All drafts, checks, or other
orders of payment issued for premiums financed shall be issued by or on behalf of the premium
finance company and shall be mailed, delivered, or otherwise transmitted directly to the insurance
company or its agent, or surplus lines broker. Any check, draft, or other order or form of
payment to any insurance agent, insurance broker, managing general agent, or other person,
when issued shall be presumed to have been issued by the duly authorized agent of the premium
finance company which provided the checks or drafts to the person issuing the...
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35-12-76
Section 35-12-76 Report of abandoned property. (a) A holder of property presumed abandoned
shall make a report to the Treasurer concerning the property. The report shall be filed electronically
and the monies remitted electronically. The Treasurer may grant an exception upon written
request as established by rule. A report should contain only tangible property or intangible
property. If a holder possesses both property types, two reports shall be filed. (b) The report
must be verified, balanced, and must contain, at a minimum, all of the following: (1) A description
of the property. (2) The date, if any, on which the property became payable, demandable, or
returnable, and the date of the last transaction with the apparent owner with respect to the
property. (3) Other information that the Treasurer by rule prescribes as necessary for the
administration of this article. (4) Except with respect to a traveler's check, money order,
or State of Alabama issued payment instruments, the name,...
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35-12-82
Section 35-12-82 Claim of another state to recover property. (a) After property has been paid
or delivered to the Treasurer under this article, another state may recover the property if
any of the following apply: (1) The property was paid or delivered to the custody of this
state because the records of the holder did not reflect a last known location of the apparent
owner within the borders of the other state and the other state establishes that the apparent
owner or other person entitled to the property was last known to be located within the borders
of that state and under the laws of that state the property has escheated or become subject
to a claim of abandonment by that state. (2) The property was paid or delivered to the custody
of this state because the laws of the other state did not provide for the escheat or custodial
taking of the property, and under the laws of that state subsequently enacted the property
has escheated or become subject to a claim of abandonment by that...
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7-3-302
Section 7-3-302 Holder in due course. (a) Subject to subsection (c) and Section 7-3-106(d),
"holder in due course" means the holder of an instrument if: (1) The instrument
when issued or negotiated to the holder does not bear such apparent evidence of forgery or
alteration or is not otherwise so irregular or incomplete as to call into question its authenticity;
and (2) The holder took the instrument (i) for value, (ii) in good faith, (iii) without notice
that the instrument is overdue or has been dishonored or that there is an uncured default
with respect to payment of another instrument issued as part of the same series, (iv) without
notice that the instrument contains an unauthorized signature or has been altered, (v) without
notice of any claim to the instrument described in Section 7-3-306, and (vi) without notice
that any party has a defense or claim in recoupment described in Section 7-3-305(a). (b) Notice
of discharge of a party, other than discharge in an insolvency proceeding,...
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45-23-240.60
Section 45-23-240.60 Mail order procedures. (a) The county revenue commissioner shall mail
applications for renewal of motor vehicle licenses and tags, boat licenses, and manufactured
home licenses to the person to whom the license or tag was previously issued. Renewal forms
shall be in postcard form and shall contain sufficient information to adequately identify
and process the renewal. If the current licensee or owner so chooses, he or she shall sign
the application form, indicating any change of address, and return the form by mail to the
county revenue commissioner, together with his or her check or money order for any ad valorem
or license taxes, and fees required as indicated on the form. For renewal of motor vehicle
tags, renewal by mail is an option only available to the person to whom the renewal was sent
and only if he or she is still the legal owner of the motor vehicle. (b) All applications
for renewal by mail for motor vehicle licenses and tags, boat licenses, and...
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19-3A-409
Section 19-3A-409 Deferred compensation, annuities, and similar payments. (a) In this section:
(1) "Payment" means a payment that a fiduciary may receive over a fixed number of
years or during the life of one or more individuals because of services rendered or property
transferred to the payer in exchange for future payments. The term includes a payment made
in money or property from the payer's general assets or from a separate fund created by the
payer. For purposes of subsections (d), (e), (f), and (g), the term also includes any payment
from any separate fund, regardless of the reason for the payment. (2) "Separate fund"
includes a private or commercial annuity, an individual retirement account, and a pension,
profit-sharing, stock-bonus, or stock-ownership plan. (b) To the extent that a payment or
portion thereof is characterized by other sections of this chapter as income in the hands
of the payer, a fiduciary shall allocate such payment or portion thereof to income. The...

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