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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
(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
made by a person who has power under the law of agency to transfer the security or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-8-107.htm - 2K - Match Info - Similar pages
10A-5A-11.06
or of all or substantially all of the person's property but this subsection shall not apply
to a person who is the sole remaining member associated with a series; (i) in the case of
a person that is a trust or is acting as a member by virtue of being a trustee of a trust,
the trust's entire transferable interest is distributed, but not solely by reason of the substitution
of a successor trustee; (j) in the case of a person that is an estate or is acting as a member
by virtue of being a personal representative of an estate, the estate's entire transferable
interest is distributed, but not solely by reason of the substitution of a successor personal
representative; (k) in the case of a member associated with a series that is not an individual,
the legal existence of the person otherwise terminates; (l) the transfer of a member's entire
remaining transferable interest but not until the later of (1) the transferee's becoming a
member associated with the series or (2) the time the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-5A-11.06.htm - 4K - Match Info - Similar pages
10A-5A-6.02
property, but this subsection (g) shall not apply to a person who is the sole remaining member
of a limited liability company; (h) in the case of a person that is a trust or is acting as
a member by virtue of being a trustee of a trust, the trust's entire transferable interest
in the limited liability company is distributed, but not solely by reason of the substitution
of a successor trustee; (i) in the case of a person that is an estate or is acting as a member
by virtue of being a personal representative of an estate, the estate's entire transferable
interest in the limited liability company is distributed, but not solely by reason of the
substitution of a successor personal representative; (j) in the case of a member that
is not an individual, the legal existence of the person otherwise terminates; (k) the transfer
of a member's entire remaining transferable interest to another member; or (l) the transfer
of a member's entire remaining transferable interest to a transferee...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-5A-6.02.htm - 4K - Match Info - Similar pages
10A-8A-6.01
or acquiesces to the appointment of a trustee, receiver, or liquidator of the person or of
all or substantially all of the person's property; (8) in the case of a person that is a trust
or is acting as a partner by virtue of being a trustee of a trust, the trust's entire transferable
interest in the partnership is distributed, but not solely by reason of the substitution of
a successor trustee; (9) in the case of a person that is an estate or is acting as a partner
by virtue of being a personal representative of an estate, the estate's entire transferable
interest in the partnership is distributed, but not solely by reason of the substitution of
a successor personal representative; (10) in the case of a person that is not an individual,
the legal existence of the person otherwise terminates; (11) the transfer of a partner's entire
remaining transferable interest to another partner; (12) the transfer of a partner's entire
remaining transferable interest to a transferee upon the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-8A-6.01.htm - 4K - Match Info - Similar pages
10A-9A-6.03
appointment of a trustee, receiver, or liquidator of the person or of all or substantially
all of the person's property; (8) in the case of a person that is a trust or is acting as
a general partner by virtue of being a trustee of a trust, the trust's entire transferable
interest in the limited partnership is distributed, but not merely by reason of the substitution
of a successor trustee; (9) in the case of a person that is an estate or is acting as a general
partner by virtue of being a personal representative of an estate, the estate's entire
transferable interest in the limited partnership is distributed, but not merely by reason
of the substitution of a successor personal representative; (10) in the case of a general
partner that is not an individual, the legal existence of the person otherwise terminates;
(11) the transfer of a general partner's entire remaining transferable interest to another
partner; (12) the transfer of a general partner's entire remaining transferable...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-9A-6.03.htm - 4K - Match Info - Similar pages
19-3A-102
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 BENEFICIARY. A person to whom net income of a trust is...
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,"...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-1-4.02.htm - 7K - Match Info - Similar pages
26-1A-114
granted by the principal or that engages another person on behalf of the principal is not liable
for an act, error of judgment, or default of that person if the agent exercises care, competence,
and diligence in selecting and monitoring the person. (h) Except as otherwise provided in
the power of attorney, an agent is not required to disclose receipts, disbursements, or transactions
conducted on behalf of the principal unless ordered by a court or requested by the principal,
a guardian, a conservator, another fiduciary acting for the principal, a governmental agency
having authority to protect the welfare of the principal, or, upon the death of the principal,
by the personal representative or successor in interest of the principal's estate.
If so requested, within 30 days the agent shall comply with the request or provide a writing
or other record substantiating why additional time is needed and shall comply with the request
within an additional 30 days. (Act 2011-683, p. 2015, ยง1.)...
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2A-1.20.htm - 5K - Match Info - Similar pages
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