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41-10-654
Section 41-10-654 Bonds of the authority. (a) General authorization to issue bonds. The authority
is authorized from time to time to sell and issue the bonds in one or more series in an aggregate
principal amount of up to fifty million dollars ($50,000,000) in order to provide the funds
to pay project costs, ancillary costs, and training costs. (b) Source of payment. The bonds
authorized herein shall be solely and exclusively an obligation of the authority and shall
not create an obligation or debt of the state. Such bonds shall not be general obligations
of the authority but shall be payable solely from the pledged revenues. (c) Security for the
bonds. The principal of and interest on the bonds shall be secured by a pledge of the pledged
revenues and, if necessary and desirable in the authority's sole discretion, a mortgage on
any part of the project. The resolution under which the bonds are authorized by the authority
to be issued and any trust indenture or mortgage may contain any...
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5-13B-113
Section 5-13B-113 Suspension or revocation of license; factors. If, after notice and a hearing,
the superintendent finds any of the following with respect to a foreign bank which is licensed
to establish and maintain an Alabama state branch or Alabama state agency, he or she may issue
an order suspending or revoking the license of such foreign bank: (1) That the foreign bank
has violated any provision of this article or of any regulation or order issued under this
article or any provision of any other applicable law, regulation, or order; (2) That the foreign
bank is transacting activities in this state in an unsafe or unsound manner or, in any case,
is transacting activities elsewhere in an unsafe or unsound manner; (3) That the foreign bank
or any one or more of its Alabama state branches or Alabama state agencies is in an unsafe
or unsound condition; (4) That the foreign bank has ceased to operate any of its offices in
this state without the prior approval of the superintendent in...
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7-4-402
Section 7-4-402 Bank's liability to customer for wrongful dishonor; time of determining insufficiency
of account. (a) Except as otherwise provided in this article, a payor bank wrongfully dishonors
an item if it dishonors an item that is properly payable, but a bank may dishonor an item
that would create an overdraft unless it has agreed to pay the overdraft. (b) A payor bank
is liable to its customer for damages proximately caused by the wrongful dishonor of an item.
Liability is limited to actual damages proved and may include damages for an arrest or prosecution
of the customer or other consequential damages. Whether any consequential damages are proximately
caused by the wrongful dishonor is a question of fact to be determined in each case. (c) A
payor bank's determination of the customer's account balance on which a decision to dishonor
for insufficiency of available funds is based may be made at any time between the time the
item is received by the payor bank and the time that...
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5-11A-32
Section 5-11A-32 Notice of transfer. (a) Within 30 days after the date of the transfer of the
fiduciary accounts, the transferor shall send written notice by first class mail to the last
known address (as then set forth on the records of the transferor, or if not set forth, as
may be determined by the transferor in the exercise of reasonable diligence) of the following
persons or entities: (1) For employee benefit plans, to the plan sponsors. (2) For individual
retirement accounts and retirement accounts for the self-employed, to the account owners.
(3) For agency and escrow accounts, to the principals. (4) For securities for which a transferor
bank serves as trustee, registrar, transfer agent or paying agent, to the issuers. (5) For
revocable trusts under agreement, to the settlors. (6) For irrevocable trusts under agreement,
to any co-fiduciary, to the settlor, to each current income beneficiary who is an adult, and
if a current income beneficiary is a minor, to a parent of the minor...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-11A-32.htm - 3K - Match Info - Similar pages
5-5A-42
Section 5-5A-42 Adverse claims to deposits. Notice to any bank of an adverse claim to a deposit
standing on its books to the credit of any person shall not be effectual to cause said bank
to recognize said adverse claimant unless said adverse claimant shall also either procure
a restraining order, injunction or other appropriate process against said bank from a court
of competent jurisdiction in a civil action therein instituted by such claimant wherein the
person to whose credit the deposit stands is made a party and served with summons or shall
execute to said bank in form and with sureties acceptable to it, a bond indemnifying said
bank from any and all liability, loss, damage, costs and expenses for and on account of the
payment or recognition of such adverse claim or the dishonor of or failure to pay the check
or failure to comply with other order of the person to whose credit the deposit stands on
the books of said bank; provided, that this section shall not apply in any instance...
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7-4-111
Section 7-4-111 Statute of limitations; accrual of action. An action to enforce an obligation,
duty, or right arising under this article must be commenced within three years after the cause
of action accrues. A cause of action accrues for payment of a time deposit upon the earlier
of: (1) the date demand for payment is made to the bank, but if the time deposit has a due
date and the bank is not required to pay before that date, the cause of action accrues when
a demand for payment is in effect and the due date has passed; (2) the latter of: a. the due
date of the time deposit established in the bank's last written notice of renewal sent pursuant
to Section 5-5A-36; or b. four years after the last written communication from the bank recognizing
the bank's obligation under the time deposit; or (3) the last day of the taxable year for
which the owner of the time deposit last reported interest income earned on the time deposit
on either a federal or state tax return. As used in this...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-4-111.htm - 2K - Match Info - Similar pages
22-30A-5
Section 22-30A-5 Identification of inactive or abandoned sites and liable parties by director;
development and implementation of cleanup plan; public comment period; orders; notice and
hearing; payment and reimbursement of expenses; appeal; recovery of expenses by order or civil
action; penalties. (a) The director shall identify inactive or abandoned hazardous substance
sites, as defined herein, within the State of Alabama. Once identified the director shall
refer to the most current national priorities list ("NPL") of the United States
Environmental Protection Agency under the Comprehensive Environmental Response, Compensation
and Liability Act of 1980, ("CERCLA") 42 U.S.C. §9601 et seq. Any Alabama site
identified by the director that also appears on the NPL shall not be subject to this chapter,
except for the matching funds provision of Section 22-30A-3(c). (b) For all sites so identified
by the director, not appearing on the NPL, the director shall attempt to identify all...
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35-12-88
Section 35-12-88 Periods of limitation. (a) The expiration, before or after May 12, 2004, of
a period of limitation on the owner's right to receive or recover property, whether specified
by contract, statute, or court order, does not preclude the property from being presumed abandoned
or affect a duty to file a report or to pay or deliver or transfer property to the Treasurer
as required by this article. (b) An action or proceeding may not be maintained by the Treasurer
to enforce this article in regard to the reporting, delivery, or payment of property more
than 10 years after the holder specifically identified the property in a report filed with
the Treasurer or gave express notice to the Treasurer of a dispute regarding the property.
In the absence of such a report or other express notice, the period of limitation is tolled.
The period of limitation is also tolled by the filing of a report that is fraudulent. (Act
2004-440, p. 755, §1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-12-88.htm - 1K - Match Info - Similar pages
41-10-674
Section 41-10-674 Authorization to issue bonds. (a) General. The authority is authorized from
time to time to sell and issue the bonds in one or more series in an aggregate principal amount
of up to one hundred three million seven hundred sixty thousand dollars ($103,760,000) in
order to provide the funds to pay project costs, ancillary costs and training costs. In addition,
proceeds of the bonds in an amount up to four million six hundred fifty-five thousand dollars
($4,655,000) shall be used to pay the cost of reconstructing and improving the flood levee
located in Elba, Alabama and proceeds in an amount up to five million eight hundred ten thousand
dollars ($5,810,000) shall be used to pay the cost of reconstructing and improving the flood
levee located in Geneva, Alabama. Of the proceeds of the bonds an amount up to seven hundred
sixty thousand dollars ($760,000) shall be allocated for the acquisition of high technology
and audio-visual equipment for an advanced aerospace training...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-674.htm - 3K - Match Info - Similar pages
5-9A-5
Section 5-9A-5 Appeals. If any stockholder, depositor or creditor shall not be satisfied with
such judgment, he may file a notice of appeal to the Supreme Court of Alabama within 42 days
from the day of entry of such judgment, provided he shall give security for cost of such appeal
and indemnity in an amount to be fixed by the court, conditioned to pay such damages as the
stockholders, depositors or creditors may sustain for a wrongful appeal or delay. Any such
appeal shall be a preferred case in the Supreme Court and shall be set for hearing at the
earliest possible date. If no such appeal is taken, the judgment of the circuit court shall
be final, and said bank may lawfully be reorganized in accordance with the plan approved by
the court. (Acts 1980, No. 80-658, §5-9-5.)...
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