7-4A-502
Section 7-4A-502 Creditor process served on receiving bank; setoff by beneficiary's bank. (a) As used in this section, "creditor process" means levy, attachment, garnishment, notice of lien, sequestration, or similar process issued by, or on behalf of a creditor or other claimant with respect to an account. (b) This subsection applies to creditor process with respect to an authorized account of the sender of a payment order if the creditor process is served on the receiving bank. For the purpose of determining rights with respect to the creditor process, if the receiving bank accepts the payment order the balance in the authorized account is deemed to be reduced by the amount of the payment order to the extent the bank did not otherwise receive payment of the order, unless the creditor process is served at a time and in a manner affording the bank a reasonable opportunity to act on it before the bank accepts the payment order. (c) If a beneficiary's bank has received a payment order...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-4A-502.htm - 2K - Match Info - Similar pages
7-9A-607
Section 7-9A-607 Collection and enforcement by secured party. (a) Collection and enforcement generally. If so agreed, and in any event after default, a secured party: (1) may notify an account debtor or other person obligated on collateral to make payment or otherwise render performance to or for the benefit of the secured party; (2) may take any proceeds to which the secured party is entitled under Section 7-9A-315; (3) may enforce the obligations of an account debtor or other person obligated on collateral and exercise the rights of the debtor with respect to the obligation of the account debtor or other person obligated on collateral to make payment or otherwise render performance to the debtor, and with respect to any property that secures the obligations of the account debtor or other person obligated on the collateral; (4) if it holds a security interest in a deposit account perfected by control under Section 7-9A-104(a)(1), may apply the balance of the deposit account to the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-9A-607.htm - 3K - Match Info - Similar pages
9-17-83
Section 9-17-83 Order requiring unit operation - Contents. The order shall be fair and reasonable under all the circumstances, shall protect the rights of interested parties and shall include: (1) A description of the area embraced, termed the unit area, and a description of the pool or pools or portions thereof affected and lying within the unit area, termed the unit pool. (2) A statement of the nature of the operations contemplated. (3) An allocation among the separately owned interests derived from or associated with tracts in the unit area of all the oil or gas, or both, produced from the unit pool within the unit area, and not required in the conduct of such operation or unavoidably lost, such allocation to be based on the relative contribution which each such tract or interest is expected to make during the course of such operation, to the total production of oil or gas, or both, so allocated. (4) A provision for adjustment among the owners of the unit area (not including royalty...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/9-17-83.htm - 6K - Match Info - Similar pages
19-3B-201
Section 19-3B-201 Role of court in administration of trust. (a) The court may intervene in the administration of a trust to the extent its jurisdiction is invoked by an interested person or as provided by law. (b) A trust is not subject to continuing judicial supervision unless ordered by the court. (c) A judicial proceeding involving a trust may relate to any matter involving the trust's administration, including a request for instructions and an action to declare rights. (d) A judicial proceeding involving a trust may relate to any matter involving the trust's administration, including, but not being limited to a proceeding to: (1) request instructions; (2) determine the existence or nonexistence of any immunity, power, privilege, duty or right; (3) approve a nonjudicial settlement; (4) interpret or construe the terms of the trust; (5) determine the validity of a trust or of any of its terms; (6) approve a trustee's report or accounting or compel a trustee to report or account; (7)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-3B-201.htm - 2K - Match Info - Similar pages
19-3D-23
Section 19-3D-23 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION, EFFECTIVE JANUARY 1, 2019. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. TRUST FOR CARE OF ANIMAL. (a) In this section the following terms have the following meanings: (1) ANIMAL TRUST. A trust or an interest in a trust created to provide for the care of one or more animals. (2) PROTECTOR. A person appointed in an animal trust to enforce the trust on behalf of the animal or, if no such person is appointed in the trust, a person appointed by the court for that purpose. (b) The decanting power may be exercised over an animal trust that has a protector to the extent the trust could be decanted under this chapter if each animal that benefits from the trust were an individual, if the protector consents in a signed record to the exercise of the power. (c) A protector for an animal has the rights under this chapter of a qualified beneficiary. (d) Notwithstanding any other provision of this chapter,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-3D-23.htm - 1K - Match Info - Similar pages
24-1-104
Section 24-1-104 Procedure for increase of area of operation. The area of operation or boundaries of a regional housing authority shall be increased from time to time to include one or more additional contiguous counties not already within a regional housing authority, if the governing body of each of the counties then included in the area of operation of such regional housing authority, the commissioners of the regional housing authority and the governing body of each such additional county or counties each adopt a resolution declaring that there is a need for the inclusion of such additional county or counties in the area of operation of such regional housing authority. Upon the adoption of such resolutions, any county housing authority created for any such additional county shall cease to exist, except for the purpose of winding up its affairs and executing a deed to the regional housing authority as provided in this section; provided, however, that such resolution shall not be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/24-1-104.htm - 4K - Match Info - Similar pages
5-7A-22
Section 5-7A-22 Conversion of national bank, etc., into state bank - Powers and duties of bank, stockholders, officers, etc., upon issuance of certificate. (a) When the superintendent has given to such bank a certificate that the provisions of this article have been complied with, such bank and all its stockholders, officers and employees shall have the same powers and privileges and shall be subject to the same duties, liabilities and regulations, in all respects, as shall have been prescribed for banks originally organized as banking corporations under the laws of Alabama. (b) At the time when such conversion of the national bank into a state bank, under the charter of the latter, becomes effective, all the property of the national bank, including all its rights, title and interest in and to all property of whatsoever kind, whether real, personal or mixed, and things in action, and every right, privilege, interest and asset of any conceivable value or benefit then existing, belonging...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-7A-22.htm - 4K - Match Info - Similar pages
9-17-13
Section 9-17-13 Integration of interests; cycling operations; orders of board; procedures. (a) When any mineral or other related interests deriving from two or more separately owned tracts of land are embraced within an established or a proposed drilling or production unit, or when there are separately owned interests in all or a part of an established or proposed drilling or production unit, or any combination of such, the persons owning the interests therein may validly agree to integrate or pool the interests and to develop the interests and associated lands as a drilling or production unit. Where, however, the owners have not agreed to so integrate or pool the interests, the board shall, for the prevention of waste or to avoid the drilling of unnecessary wells, require the persons owning such interests to do so and to develop their interests and the associated lands as a drilling or production unit. (b) The board, in order to prevent waste and avoid the drilling of unnecessary...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/9-17-13.htm - 15K - Match Info - Similar pages
27-44-8
Section 27-44-8 Powers and duties of association. (a) If a member insurer is an impaired insurer, the association may, in its discretion and subject to any conditions imposed by the association that do not impair the contractual obligations of the impaired insurer, and that are approved by the commissioner: (1) Guarantee or reinsure, or cause to be guaranteed, assumed, or reinsured, any or all of the covered policies of the impaired insurers. (2) Provide such moneys, pledges, notes, guarantees, or other means as are proper to effectuate subdivision (1), and assure payment of the contractual obligations of the impaired insurer pending action under subdivision (1). (b) If a member insurer is an insolvent insurer, the association shall, in its discretion and subject to the approval of the commissioner, do either of the following: (1)a. Guarantee, assume, or reinsure, or cause to be guaranteed, assumed, or reinsured, the covered policies of the insolvent insurer. b. Assure payment of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-44-8.htm - 24K - Match Info - Similar pages
34-14A-15
Section 34-14A-15 Recovery fund. (a) The board may establish a Homeowners' Recovery Fund for the purpose of consumer protection, consumer education, and consumer awareness. An aggrieved homeowner may recover actual economic damages, not including interest and court costs, sustained within the state as the direct result of conduct of a licensee in violation of this chapter or the rules of the board from the Homeowners' Recovery Fund. Any payments from the Homeowners' Recovery Fund shall be subject to the following limitations and conditions: (1) The Homeowners' Recovery Fund shall make payments only to homeowners who file a complaint with the board pursuant to the requirements of subsection (b) of Section 34-14A-8. (2) The Homeowners' Recovery Fund shall not make payments based on consent judgments. (3) Failure of the homeowner to follow any provisions of this chapter shall preclude payment from the Homeowners' Recovery Fund. (b) The board, by rule, shall determine the maximum amount of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/34-14A-15.htm - 6K - Match Info - Similar pages
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