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27-32-27.1
Section 27-32-27.1 Authority of receivers and federal home loan banks regarding collateral
pledged by insurer members in delinquency proceedings. (a) For purposes of this chapter, the
following terms shall have the following meanings: (1) FEDERAL HOME LOAN BANK or FHLB. A federal
home loan bank established pursuant to the Federal Home Loan Bank Act, 12 U.S.C. Section 1421,
et seq. (2) INSURER MEMBER. An insurer who is a member of a federal home loan bank. (b) Notwithstanding
any other provision of this chapter, the receiver for an insurer member may not void any transfer
of, or any obligation to transfer, money or any other property arising under or in connection
with any federal home loan bank security agreement, or any pledge, security, collateral, or
guarantee agreement, or any other similar arrangement or credit enhancement relating to a
federal home loan bank security agreement made in the ordinary course of business and in compliance
with the applicable federal home loan bank...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-32-27.1.htm - 4K - Match Info - Similar pages
12-19-26
Section 12-19-26 Administrative fee for periodic payments; payment to General Fund; notice
of fee. (a) There is hereby imposed an administrative fee of $1.00 to be collected by the
clerks of the circuit and district courts and the registers of the circuit courts for the
receipt and disbursement of each periodic payment made to their offices under any order, decree
or judgment of the circuit or district court which provides for periodic and continuing payments
of alimony, child support, or court-ordered restitution, except for payments received from
a responding state pursuant to Sections 30-4-80 through 30-4-98. Said fee shall be collected
from the individual responsible for the periodic payments at the time each payment is receipted
through the office of the clerk or register, whether such payment is collected for the benefit
of a private individual or the state, including any department or agency thereof and whether
the duty to collect such payments is imposed upon the clerk or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/12-19-26.htm - 2K - Match Info - Similar pages
41-1-60
Section 41-1-60 Acceptance of credit card payment. (a) Notwithstanding any other provision
of law to the contrary, any officer or unit of state government required or authorized to
receive or collect any payments to state government may accept a credit card payment of the
amount that is due. This section shall only apply to departments, agencies, boards, bureaus,
commissions, and authorities which are units of state government, and shall not apply to any
departments, agencies, boards, bureaus, commissions, or authorities which are units of county
or municipal government and come under the provisions of Chapter 103 of Title 11. (b) This
section shall be broadly construed to authorize acceptance of credit card payments by: (1)
All departments, agencies, boards, bureaus, commissions, authorities, and other units of state
government. (2) All officers, officials, employees, and agents of the state and units of state
government. (c) This section shall be broadly construed to authorize...
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7-4-215
Section 7-4-215 Final payment of item by payor bank; when provisional debits and credits become
final; when certain credits become available for withdrawal. (a) An item is finally paid by
a payor bank when the bank has first done any of the following: (1) Paid the item in cash;
(2) Settled for the item without having a right to revoke the settlement under statute, clearing-house
rule, or agreement; or (3) Made a provisional settlement for the item and failed to revoke
the settlement in the time and manner permitted by statute, clearing-house rule, or agreement.
(b) If provisional settlement for an item does not become final, the item is not finally paid.
(c) If provisional settlement for an item between the presenting and payor banks is made through
a clearing house or by debits or credits in an account between them, then to the extent that
provisional debits or credits for the item are entered in accounts between the presenting
and payor banks or between the presenting and successive...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-4-215.htm - 2K - Match Info - Similar pages
7-4-503
Section 7-4-503 Responsibility of presenting bank for documents and goods; report of reasons
for dishonor; referee in case of need. Unless otherwise instructed and except as provided
in Article 5, a bank presenting a documentary draft: (1) Must deliver the documents to the
drawee on acceptance of the draft if it is payable more than three days after presentment;
otherwise, only on payment; and (2) Upon dishonor, either in the case of presentment for acceptance
or presentment for payment, may seek and follow instructions from any referee in case of need
designated in the draft or, if the presenting bank does not choose to utilize the referee's
services, it must use diligence and good faith to ascertain the reason for dishonor, must
notify its transferor of the dishonor and of the results of its effort to ascertain the reasons
therefor, and must request instructions. However the presenting bank is under no obligation
with respect to goods represented by the documents except to follow any...
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35-4-435
Section 35-4-435 Notice requirements for existing private transfer fee obligations. (a) The
payee of a private transfer fee obligation imposed prior to May 25, 2011, shall record, prior
to December 31, 2011, against the real property subject to the private transfer fee obligation,
a separate document in the office of the judge of probate for each county in which the real
property is located which complies with all of the following requirements: (1) The title of
the document shall be "Notice of Private Transfer Fee Obligation" in at least 14-point
boldface type. (2) The amount, if the private transfer fee is a flat amount, or the percentage
of the sales price constituting the cost of the private transfer fee, or such other basis
by which the private transfer fee is to be calculated. (3) If the real property is residential
property, actual dollar-cost examples of the private transfer fee for a home priced at two
hundred fifty thousand dollars ($250,000), five hundred thousand dollars...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-4-435.htm - 5K - Match Info - Similar pages
5-20-3
Section 5-20-3 Definitions. Notwithstanding any other provision of law, for the purposes of
this chapter, the following terms shall have the meanings prescribed by this section: (1)
ALABAMA BANK. A bank which is organized under the laws of this state or of the United States
and which has its principal place of business in this state. (2) BANK. Any "insured bank"
as such term is defined in Section 3(h) of the Federal Deposit Insurance Act, 12 U.S.C. §1813(h).
(3) BANK HOLDING COMPANY. Any company which is a bank holding company under the Bank Holding
Company Act of 1956, as amended, 12 U.S.C. §1841(a). (4) CREDIT CARD. Any type of arrangement
or agreement pursuant to which any domestic lender or credit card bank, whether directly or
indirectly through any domestic lender acting as its agent, gives a debtor the privilege of
using a credit card or other credit confirmation, device or instrument of any type in transactions
out of which debt arises: a. By the domestic lender or credit...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-20-3.htm - 3K - Match Info - Similar pages
7-7-502
Section 7-7-502 Rights acquired by due negotiation. (a) Subject to Sections 7-7-205 and 7-7-503,
a holder to which a negotiable document of title has been duly negotiated acquires thereby:
(1) Title to the document; (2) Title to the goods; (3) All rights accruing under the law of
agency or estoppel, including rights to goods delivered to the bailee after the document was
issued; and (4) The direct obligation of the issuer to hold or deliver the goods according
to the terms of the document free of any defense or claim by the issuer except those arising
under the terms of the document or under this article, but in the case of a delivery order,
the bailee's obligation accrues only upon the bailee's acceptance of the delivery order and
the obligation acquired by the holder is that the issuer and any indorser will procure the
acceptance of the bailee. (b) Subject to Section 7-7-503, title and rights acquired by due
negotiation are not defeated by any stoppage of the goods represented by the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-7-502.htm - 1K - Match Info - Similar pages
7-9A-408
Section 7-9A-408 Restrictions on assignment of promissory notes, health-care-insurance receivables,
and certain general intangibles ineffective. (a) Term restricting assignment generally ineffective.
Except as otherwise provided in subsection (b), a term in a promissory note or in an agreement
between an account debtor and a debtor which relates to a health-care-insurance receivable
or a general intangible, including a contract, permit, license, or franchise, and which term
prohibits, restricts, or requires the consent of the person obligated on the promissory note
or the account debtor to, the assignment or transfer of, or creation, attachment, or perfection
of a security interest in, the promissory note, health-care-insurance receivable, or general
intangible, is ineffective to the extent that the term: (1) would impair the creation, attachment,
or perfection of a security interest; or (2) provides that the assignment or transfer or the
creation, attachment, or perfection of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-9A-408.htm - 4K - Match Info - Similar pages
5-17-15
Section 5-17-15 Deposits for minor or trust beneficiaries; deposits in names of two persons.
(a) A minor, in his or her own name, may make a general or special deposit in any credit union.
The deposit shall be paid only to the minor, or upon his or her order, and not to the parents
or guardians of the minor, and the payment shall be valid as against the minor child and his
or her parents or guardian. (b) Shares may be issued and withdrawn and deposits received and
paid out in the name of a minor or in trust in such manner as the bylaws may provide. The
name of the beneficiary must be disclosed to the credit union. If no other notice of the existence
and terms of such trust has been given in writing to the corporation, such shares or deposits
may, upon the death of the trustee, be transferred to or withdrawn by the person who was named
by the trustee as the beneficiary or by his or her legal representative, and such transfer
or withdrawal shall release the corporation from liability to...
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