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43-2-852
Section 43-2-852 Terms and requirements of bonds. (a) The following requirements and provisions
apply to any bond required under Section 43-2-850: (1) Sureties are jointly and severally
liable with the personal representative and with each other. (2) By executing an approved
bond of a personal representative, the surety consents to the jurisdiction of the court that
issued letters to the primary obligor in any proceeding pertaining to the fiduciary duties
of the personal representative and naming the surety as a party respondent. Notice of any
proceeding must be delivered to the surety or mailed by registered or certified mail to the
address listed with the court at the place where the bond is filed and to the address as then
known to the petitioner. (3) On petition of a successor personal representative or any interested
person, a proceeding may be initiated against a surety for breach of the obligation of the
bond of the personal representative. (4) The bond of the personal...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/43-2-852.htm - 1K - Match Info - Similar pages
7-8-107
Section 7-8-107 Whether indorsement, instruction, or entitlement order is effective. (a) "Appropriate
person" means: (1) with respect to an indorsement, the person specified by a security
certificate or by an effective special indorsement to be entitled to the security; (2) with
respect to an instruction, the registered owner of an uncertificated security; (3) with respect
to an entitlement order, the entitlement holder; (4) if the person designated in paragraph
(1), (2), or (3) is deceased, the designated person's successor taking under other law or
the designated person's personal representative acting for the estate of the decedent; or
(5) if the person designated in paragraph (1), (2), or (3) lacks capacity, the designated
person's guardian, conservator, or other similar representative who has power under other
law to transfer the security or financial asset. (b) An indorsement, instruction, or entitlement
order is effective if: (1) it is made by the appropriate person; (2) it is...
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10A-5A-11.06
Section 10A-5A-11.06 Event causing dissociation of a member associated with a series. A person
is dissociated as a member associated with a series when any of the following occurs: (a)
the series has notice of the person's express will to dissociate from the series, except if
the person specifies a dissociation date later than the date the series had notice, then the
person is dissociated from the series on that later date; (b) an event stated in the limited
liability company agreement as causing the person's dissociation from the series occurs; (c)
the person is dissociated as a member of the limited liability company pursuant to Section
10A-5A-6.02; (d) the person is expelled as a member associated with that series pursuant to
the limited liability company agreement; (e) the person is expelled as a member associated
with the series by the unanimous consent of the other members associated with that series
if: (1) it is unlawful to carry on the series' activities and affairs with the...
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10A-5A-6.02
Section 10A-5A-6.02 Event causing dissociation. A person is dissociated as a member from a
limited liability company when any of the following occurs: (a) the limited liability company
has notice of the person's express will to dissociate as a member, except that if the person
specifies a dissociation date later than the date the limited liability company had notice,
then the person is dissociated as a member on that later date; (b) an event stated in the
limited liability company agreement as causing the person's dissociation occurs; (c) the person
is expelled as a member pursuant to the limited liability company agreement; (d) the person
is expelled as a member by the unanimous consent of the other members if: (1) it is unlawful
to carry on the limited liability company's activities and affairs with the person as a member;
(2) there has been a transfer of all of the person's transferable interest other than a transfer
for security purposes; (3) the person is an organization and,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-5A-6.02.htm - 4K - Match Info - Similar pages
10A-8A-6.01
Section 10A-8A-6.01 Events causing partner's dissociation. A person is dissociated from a partnership
as a partner upon the occurrence of any of the following events: (1) the partnership has notice
of the person's express will to dissociate as a partner, except that if the person specifies
a dissociation date later than the date the partnership had notice, then the person is dissociated
as a partner on that later date; (2) an event stated in the partnership agreement as causing
the person's dissociation as a partner occurs; (3) the person is expelled as a partner pursuant
to the partnership agreement; (4) the person is expelled as a partner by the unanimous consent
of the other partners if: (A) it is unlawful to carry on the partnership's business or not
for profit activity with the person as a partner; (B) there has been a transfer of all of
the person's transferable interest in the partnership, other than a transfer for security
purposes; (C) the person is an organization and, within...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-8A-6.01.htm - 4K - Match Info - Similar pages
10A-9A-6.03
Section 10A-9A-6.03 Dissociation as a general partner. A person is dissociated from a limited
partnership as a general partner when any of the following occurs: (1) the limited partnership
has notice of the person's express will to dissociate as a general partner, except that if
the person specifies a dissociation date later than the date the limited partnership had notice,
then the person is dissociated as a general partner on that later date; (2) an event stated
in the partnership agreement as causing the person's dissociation as a general partner occurs;
(3) the person is expelled as a general partner pursuant to the partnership agreement; (4)
the person is expelled as a general partner by the unanimous consent of the other partners
if: (A) it is unlawful to carry on the limited partnership's activities and affairs with the
person as a general partner; (B) there has been a transfer of all of the person's transferable
interest in the limited partnership, other than a transfer for...
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19-3A-102
Section 19-3A-102 Definitions. As used in this chapter, the following terms are defined as
follows: (1) ACCOUNTING PERIOD. A calendar year unless another 12-month period is selected
by a fiduciary. The term includes a portion of a calendar year or other 12-month period that
begins when an income interest begins or ends when an income interest ends. (2) BENEFICIARY.
Includes, in the case of a decedent's estate, an heir, legatee, and devisee and, in the case
of a trust, an income beneficiary and a remainder beneficiary. (3) FIDUCIARY. A personal representative
or a trustee. The term includes an executor, administrator, successor personal representative,
special administrator, and a person performing substantially the same function. (4) INCOME.
Money or property that a fiduciary receives as current return from a principal asset. The
term also includes a portion of receipts from a sale, exchange, or liquidation of a principal
asset, to the extent provided in Article 4. (5) INCOME...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-3A-102.htm - 4K - Match Info - Similar pages
10A-1-4.02
Section 10A-1-4.02 Delivery of filing instrument; duties of filing officer; fee; automated
electronic system. (a) A filing instrument required or allowed by this title to be delivered
to the Secretary of State for filing shall be delivered to the Secretary of State for filing.
(b) A filing instrument required or permitted by this title to be delivered to the judge of
probate for filing shall be delivered to the judge of probate for filing. (c) If a provision
of this title does not specify which filing officer a filing instrument is to be delivered
to for filing, that filing instrument shall be delivered to the Secretary of State for filing.
(d) If the filing officer finds that a filing instrument delivered to the filing officer for
filing substantially conforms to the provisions of this title that apply to that filing instrument
and that all required fees have been paid, the filing officer shall file it immediately upon
delivery by: (1) recording that filing instrument as "filed,"...
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26-1A-114
Section 26-1A-114 Agent's duties. (a) Notwithstanding provisions in the power of attorney,
an agent that has accepted appointment shall: (1) act in accordance with the principal's reasonable
expectations to the extent actually known by the agent and, otherwise, in the principal's
best interest; (2) act in good faith; and (3) act only within the scope of authority granted
in the power of attorney. (b) Except as otherwise provided in the power of attorney, an agent
that has accepted appointment shall: (1) act loyally for the principal's benefit; (2) act
so as not to create a conflict of interest that impairs the agent's ability to act impartially
in the principal's best interest; (3) act with the care, competence, and diligence ordinarily
exercised by agents in similar circumstances; (4) keep a record of all receipts, disbursements,
and transactions made on behalf of the principal; (5) cooperate with a person that has authority
to make health care decisions for the principal to carry out...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/26-1A-114.htm - 4K - Match Info - Similar pages
10A-2A-1.20
Section 10A-2A-1.20 Requirements for filing instruments; extrinsic facts. (a) Whenever any
filing instrument is to be filed with the Secretary of State or in accordance with this chapter,
such instrument shall be executed as follows: (1) Except as provided in subsection (a)(3),
the certificate of incorporation, and any other instrument to be filed before the election
of the initial board of directors if the initial directors were not named in the certificate
of incorporation, shall be signed by the incorporator or incorporators or the successors and
assigns of the incorporator or incorporators. If any incorporator is not available then any
other instrument may be signed, with the same effect as if the incorporator had signed it,
by any person for whom or on whose behalf the incorporator, in executing the certificate of
incorporation, was acting directly or indirectly as employee or agent, provided that the other
instrument shall state that the incorporator is not available and the...
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