7-5-110
Section 7-5-110 Warranties. (a) If its presentation is honored, the beneficiary warrants: (1)
to the issuer, any other person to whom presentation is made, and the applicant that there
is no fraud or forgery of the kind described in Section 7-5-109(a); and (2) to the applicant
that the drawing does not violate any agreement between the applicant and beneficiary or any
other agreement intended by them to be augmented by the letter of credit. (b) The warranties
in subsection (a) are in addition to warranties arising under Article 3, 4, 7, and 8 because
of the presentation or transfer of documents covered by any of those articles. (Acts 1997,
No. 97-702, p. 1427, §1.)...
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7-5-108
Section 7-5-108 Issuer's rights and obligations. (a) Except as otherwise provided in Section
7-5-109, an issuer shall honor a presentation that, as determined by the standard practice
referred to in subsection (e), appears on its face strictly to comply with the terms and conditions
of the letter of credit. Except as otherwise provided in Section 7-5-113 and unless otherwise
agreed with the applicant, an issuer shall dishonor a presentation that does not appear so
to comply. (b) An issuer has a reasonable time after presentation, but not beyond the end
of the seventh business day of the issuer after the day of its receipt of documents: (1) to
honor, (2) if the letter of credit provides for honor to be completed more than seven business
days after presentation, to accept a draft or incur a deferred obligation, or (3) to give
notice to the presenter of discrepancies in the presentation. (c) Except as otherwise provided
in subsection (d), an issuer is precluded from asserting as a basis...
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7-5-111
Section 7-5-111 Remedies. (a) If an issuer wrongfully dishonors or repudiates its obligation
to pay money under a letter of credit before presentation, the beneficiary, successor, or
nominated person presenting on its own behalf may recover from the issuer the amount that
is the subject of the dishonor or repudiation. If the issuer's obligation under the letter
of credit is not for the payment of money, the claimant may obtain specific performance or,
at the claimant's election, recover an amount equal to the value of performance from the issuer.
In either case, the claimant may also recover incidental but not consequential damages. The
claimant is not obligated to take action to avoid damages that might be due from the issuer
under this subsection. If, although not obligated to do so, the claimant avoids damages, the
claimant's recovery from the issuer must be reduced by the amount of damages avoided. The
issuer has the burden of proving the amount of damages avoided. In the case of...
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7-5-117
Section 7-5-117 Subrogation of issuer, applicant, and nominated person. (a) An issuer that
honors a beneficiary's presentation is subrogated to the rights of the beneficiary to the
same extent as if the issuer were a secondary obligor of the underlying obligation owed to
the beneficiary and of the applicant to the same extent as if the issuer were the secondary
obligor of the underlying obligation owed to the applicant. (b) An applicant that reimburses
an issuer is subrogated to the rights of the issuer against any beneficiary, presenter, or
nominated person to the same extent as if the applicant were the secondary obligor of the
obligations owed to the issuer and has the rights of subrogation of the issuer to the rights
of the beneficiary stated in subsection (a). (c) A nominated person who pays or gives value
against a draft or demand presented under a letter of credit is subrogated to the rights of:
(1) the issuer against the applicant to the same extent as if the nominated person...
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7-5-102
Section 7-5-102 Definitions. (a) In this article: (1) "Adviser" means a person who,
at the request of the issuer, a confirmer, or another adviser, notifies, or requests another
adviser to notify, the beneficiary that a letter of credit has been issued, confirmed, or
amended. (2) "Applicant" means a person at whose request or for whose account a
letter of credit is issued. The term includes a person who requests an issuer to issue a letter
of credit on behalf of another if the person making the request undertakes an obligation to
reimburse the issuer. (3) "Beneficiary" means a person who under the terms of a
letter of credit is entitled to have its complying presentation honored. The term includes
a person to whom drawing rights have been transferred under a transferable letter of credit.
(4) "Confirmer" means a nominated person who undertakes, at the request or with
the consent of the issuer, to honor a presentation under a letter of credit issued by another.
(5) "Dishonor" of a letter...
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7-5-103
Section 7-5-103 Scope. (a) This article applies to letters of credit and to certain rights
and obligations arising out of transactions involving letters of credit. (b) The statement
of a rule in this article does not by itself require, imply, or negate application of the
same or a different rule to a situation not provided for, or to a person not specified, in
this article. (c) With the exception of this subsection, subsections (a) and (d), Sections
7-5-102(a)(9) and (10), and 7-5-114(d), and except to the extent prohibited in Sections 7-1-302
and 7-5-117(d), the effect of this article may be varied by agreement or by a provision stated
or incorporated by reference in an undertaking. A term in a letter of credit, confirmation,
advice, transfer, amendment, or cancellation generally excusing liability or generally limiting
remedies for failure to perform obligations is not sufficient to vary obligations prescribed
by this article. (d) Rights and obligations of an issuer to a beneficiary...
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8-19A-5
Section 8-19A-5 Licensing; application for license. (a) Prior to doing business in this state,
a commercial telephone seller shall obtain a license from the division. Doing business in
this state includes both telephone solicitation from a location in Alabama and solicitation
from other states or nations of purchasers located in Alabama. (b) An applicant for a license
as a commercial telephone seller shall submit to the division, in the form prescribed, a written
application for the license. The application shall set forth the following information: (1)
The true name, date of birth, driver's license number, Social Security number, and home address
of the applicant, including each name under which he or she intends to do business. (2) Each
business or occupation engaged in by the applicant during the three years immediately preceding
the date of the application, and the location thereof. (3) The previous experience of the
applicant as a commercial telephone seller or salesperson. (4)...
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9-16-88
Section 9-16-88 Permits - Review and appeal of applications. (a) At the time of submission
of an application for a surface coal mining and reclamation permit, or revision of an existing
permit, pursuant to the provisions of this article, the applicant shall submit to the regulatory
authority a copy of his advertisement of the ownership, precise location, and boundaries of
the land to be affected. At the time of submission such advertisement shall be placed by the
applicant in a local newspaper of general circulation in the locality of the proposed surface
mine at least once a week for four consecutive weeks. The regulatory authority shall notify
various local governmental bodies, planning agencies, and sewage and water treatment authorities
or water companies in the locality in which the proposed surface mining will take place, notifying
them of the operator's intention to surface mine a particularly described tract of land and
indicating the application's permit number and where a...
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22-6-163
Section 22-6-163 Legislative findings; rules; collaboration; approval of agreements and contracts;
state action immunity; confidentiality of records; additional duties. (a) The Legislature
declares that collaboration among public payers, private health carriers, third party purchasers,
and providers to identify appropriate service delivery systems and reimbursement methods in
order to align incentives in support of integrated and coordinated health care delivery is
in the best interest of the public. Collaboration pursuant to this article is to provide quality
health care at the lowest possible cost to Alabama citizens who are Medicaid eligible. The
Legislature, therefore, declares that this health care delivery system affirmatively contemplates
the foreseeable displacement of competition, such that any anti-competitive effect may be
attributed to the state's policy to displace competition in the delivery of a coordinated
system of health care for the public benefit. In furtherance of...
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13A-9-71
Section 13A-9-71 Registration of charitable organizations, professional fund raisers, and commercial
co-venturers, and professional solicitors; notification of changes; exempt persons; annual
report; prohibition against fund raising by unregistered person; contracts between professional
fund raisers and commercial co-venturers; appointment of Secretary of State as agent for service
of process; use of name of charitable organization without consent; disclosure by solicitors;
violations and penalties; injunctive relief. (a) Every charitable organization, except those
granted an exemption in subsection (f), which is physically located in this state, intends
to solicit contributions in or from this state, or to have contributions solicited in this
state, on its behalf, by other charitable organizations, paid solicitors, or commercial co-venturers
in or from this state shall, prior to any solicitation, file a registration statement with
the Attorney General upon a form prescribed by the...
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