7-5-106
Section 7-5-106 Issuance, amendment, cancellation, and duration. (a) A letter of credit is issued and becomes enforceable according to its terms against the issuer when the issuer sends or otherwise transmits it to the person requested to advise or to the beneficiary. A letter of credit is revocable only if it so provides. (b) After a letter of credit is issued, rights and obligations of a beneficiary, applicant, confirmer, and issuer are not affected by an amendment or cancellation to which that person has not consented except to the extent the letter of credit provides that it is revocable or that the issuer may amend or cancel the letter of credit without that consent. (c) If there is no stated expiration date or other provision that determines its duration, a letter of credit expires one year after its stated date of issuance or, if none is stated, after the date on which it is issued. (Acts 1997, No. 97-702, p. 1427, ยง1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-5-106.htm - 1K - Match Info - Similar pages
7-9A-109
Section 7-9A-109 Scope. (a) General scope of article. Except as otherwise provided in subsections (c) and (d), this article applies to: (1) a transaction, regardless of its form, that creates a security interest in personal property or fixtures by contract; (2) an agricultural lien; (3) a sale of accounts, chattel paper, payment intangibles, or promissory notes; (4) a consignment; (5) a security interest arising under Section 7-2-401, 7-2-505, 7-2-711(3), or 7-2A-508(5), as provided in Section 7-9A-110; and (6) a security interest arising under Section 7-4-210 or 7-5-118. (b) Security interest in secured obligation. The application of this article to a security interest in a secured obligation is not affected by the fact that the obligation is itself secured by a transaction or interest to which this article does not apply. (c) Extent to which article does not apply. This article does not apply to the extent that: (1) a statute, regulation, or treaty of the United States preempts this...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-9A-109.htm - 4K - Match Info - Similar pages
7-9A-615
Section 7-9A-615 Application of proceeds of disposition; liability for deficiency and right to surplus. (a) Application of proceeds. A secured party shall apply or pay over for application the cash proceeds of disposition under Section 7-9A-610 in the following order to: (1) the reasonable expenses of retaking, holding, preparing for disposition, processing, and disposing, and, to the extent provided for by agreement and not prohibited by law, reasonable attorney's fees and legal expenses incurred by the secured party; (2) the satisfaction of obligations secured by the security interest or agricultural lien under which the disposition is made; (3) the satisfaction of obligations secured by any subordinate security interest in or other subordinate lien on the collateral if: (A) the secured party receives from the holder of the subordinate security interest or other lien an authenticated demand for proceeds before distribution of the proceeds is completed; and (B) in a case in which a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-9A-615.htm - 4K - Match Info - Similar pages
26-2A-153
Section 26-2A-153 Distributive duties and powers of conservator. (a) A conservator may expend or distribute income or principal of the estate without court authorization or confirmation for the health, support, education, or maintenance of the protected person and dependents in accordance with the following principles: (1) The conservator shall consider recommendations relating to the appropriate standard of support, education, and benefit for the protected person or dependents made by a parent or guardian, if any. The conservator may not be surcharged for sums paid to persons or organizations furnishing support, education, or maintenance to the protected person or a dependent pursuant to the recommendations of a parent or guardian of the protected person unless the conservator knows that the parent or guardian derives personal financial benefit therefrom, including relief from any personal duty of support, or the recommendations are clearly not in the best interest of the protected...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/26-2A-153.htm - 5K - Match Info - Similar pages
7-3-605
Section 7-3-605 Discharge of indorsers and accommodation parties. (a) In this section, the term "indorser" includes a drawer having the obligation described in Section 7-3-414(d). (b) Discharge, under Section 7-3-604, of the obligation of a party to pay an instrument does not discharge the obligation of an indorser or accommodation party having a right of recourse against the discharged party. (c) If a person entitled to enforce an instrument agrees, with or without consideration, to an extension of the due date of the obligation of a party to pay the instrument, the extension discharges an indorser or accommodation party having a right of recourse against the party whose obligation is extended to the extent the indorser or accommodation party proves that the extension caused loss to the indorser or accommodation party with respect to the right of recourse. (d) If a person entitled to enforce an instrument agrees, with or without consideration, to a material modification of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-3-605.htm - 4K - Match Info - Similar pages
30-3D-102
Section 30-3D-102 Definitions. In this chapter: (1) "Child" means an individual, whether over or under the age of majority, who is or is alleged to be owed a duty of support by the individual's parent or who is or is alleged to be the beneficiary of a support order directed to the parent. (2) "Child-support order" means a support order for a child, including a child who has attained the age of majority under the law of the issuing state or foreign country. (3) "Convention" means the Convention on the International Recovery of Child Support and Other Forms of Family Maintenance, concluded at The Hague on November 23, 2007. (4) "Duty of support" means an obligation imposed or imposable by law to provide support for a child, spouse, or former spouse, including an unsatisfied obligation to provide support. (5) "Foreign country" means a country, including a political subdivision thereof, other than the United States, that authorizes the issuance of support orders and: (A) which has been...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/30-3D-102.htm - 7K - Match Info - Similar pages
16-22A-3
Section 16-22A-3 Definitions. When used in this chapter only, the following terms shall have the following meanings, respectively, unless the context clearly indicates otherwise: (1) APPLICANT. A certified or noncertified individual who submits an application for employment to a local employing board or any nonpublic school, to act in any capacity in which the individual will have unsupervised access to children in an educational environment. (2) APPLICANT FOR CERTIFICATION. An individual who submits an application for certification issued by the State Superintendent of Education. (3) AUTHORIZED EMPLOYER. Any educational entity authorized to obtain criminal history background information, including the State Department of Education, local employing boards, and nonpublic schools which are responsible for hiring employees or contracting with private employers to provide personnel who have unsupervised access to children in an educational setting. (4) CERTIFIED APPLICANT FOR EMPLOYMENT. A...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-22A-3.htm - 12K - Match Info - Similar pages
34-27-31
Section 34-27-31 Recovery Fund created; fees paid to fund; injured party's recovery from fund; procedures, appeals, etc.; licensee to report any legal action taken against him or her. (a) The commission shall establish and maintain a Recovery Fund from which an aggrieved party may recover actual or compensatory damages, not including interest and court costs, sustained only within the State of Alabama as a result of conduct of a broker or salesperson in violation of Article 1 or 2 of this chapter or the rules and regulations of the commission. (b) Notwithstanding any other provision to the contrary, payments from the Recovery Fund are subject to the following conditions and limitations: (1) The fund shall not be obligated for the acts or omissions of a broker or salesperson while acting on his or her own behalf or on behalf of his or her child, spouse, or parent regarding property in which he or she or his or her spouse, child, or parent has, or is attempting to acquire, an interest;...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/34-27-31.htm - 10K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/13A-9-71.htm - 16K - Match Info - Similar pages
36-27-16
Section 36-27-16 Retirement, etc., of employees; retirement allowances. (a)(1) RETIREMENT, ETC., OF EMPLOYEES GENERALLY; ELIGIBILITY FOR SERVICE RETIREMENT BENEFITS. a. Any Tier I plan member who withdraws from service upon or after attainment of age 60 and any Tier II plan member who withdraws from service upon or after attainment of age 62 may retire upon written application to the Board of Control setting forth at what time, not less than 30 days nor more than 90 days subsequent to the execution and filing thereof, he or she desires to be retired; provided, that any such member who became a member on or after October 1, 1963, shall have completed 10 or more years of creditable service; provided further, that a Tier I plan member employed as a state policeman shall be eligible to file application for service retirement upon attaining age 52 and a Tier II plan member employed as a state policeman or employed as a correctional officer, firefighter, or law enforcement officer as defined...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-27-16.htm - 34K - Match Info - Similar pages
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