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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...
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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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10A-5A-4.07
Section 10A-5A-4.07 Direction and oversight of the limited liability company. (a) The limited
liability company agreement of a limited liability company may provide that the activities
and affairs of the limited liability company shall be under the direction, and subject to
the oversight, of: (1) its members; (2) one or more managers; or (3) such other governance
structure as provided in the limited liability company agreement. The limited liability company
agreement of a limited liability company may provide that the activities and affairs of a
series shall be under the direction, and subject to the oversight, of: (1) the members associated
with that series; (2) one or more managers; or (3) such other governance structure as provided
in the limited liability company agreement. (b) If the limited liability company agreement
does not specify who shall direct and oversee the activities and affairs of the limited liability
company or a series thereof: (1)(A) The activities and affairs of...
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26-1A-301
Section 26-1A-301 Power of attorney form. A document substantially in the following form may
be used to create a power of attorney that has the meaning and effect prescribed by this chapter.
ALABAMA POWER OF ATTORNEY FORM IMPORTANT INFORMATION This power of attorney authorizes another
person (your agent) to make decisions concerning your property for you (the principal). Your
agent will be able to make decisions and act with respect to your property (including your
money) whether or not you are able to act for yourself. The meaning of authority over subjects
listed on this form is explained in the Alabama Uniform Power of Attorney Act, Chapter 1A,
Title 26, Code of Alabama 1975. This power of attorney does not authorize the agent to make
health care decisions for you. Such powers are governed by other applicable law. You should
select someone you trust to serve as your agent. Unless you specify otherwise, generally the
agent's authority will continue until you die or revoke the power...
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32-8-64
Section 32-8-64 Release of security interest. (a) Upon the satisfaction of a security interest
in a vehicle for which the certificate of title is in the possession of the lienholder, he
or she shall, within 10 days after demand, execute a release of his or her security interest,
in the space provided therefor on the certificate or as the department prescribes, and mail
or deliver the certificate and release to the next lienholder named therein, or, if none,
to the owner or any person who delivers to the lienholder an authorization from the owner
to receive the certificate. The owner, other than a dealer holding the vehicle for resale,
shall promptly cause the certificate and release to be mailed or delivered to the department,
which shall release the lienholder's rights on the certificate or issue a new certificate.
(b) Upon the satisfaction of a security interest in a vehicle for which the certificate of
title is in the possession of a prior lienholder, the lienholder whose security...
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7-2A-310
Section 7-2A-310 Lessor's and lessee's rights when goods become accessions. (1) Goods are "accessions"
when they are installed in or affixed to other goods. (2) The interest of a lessor or a lessee
under a lease contract entered into before the goods became accessions is superior to all
interests in the whole except as stated in subsection (4). (3) The interest of a lessor or
a lessee under a lease contract entered into at the time or after the goods became accessions
is superior to all subsequently acquired interests in the whole except as stated in subsection
(4) but is subordinate to interests in the whole existing at the time the lease contract was
made unless the holders of such interests in the whole have in writing consented to the lease
or disclaimed an interest in the goods as part of the whole. (4) The interest of a lessor
or a lessee under a lease contract described in subsection (2) or (3) is subordinate to the
interest of (a) a buyer in the ordinary course of business or a...
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10A-5A-4.09
Section 10A-5A-4.09 Records to be kept; right of members and dissociated members to information.
Notwithstanding Sections 10A-1-3.32 and 10A-1-3.33: (a) Each limited liability company shall
maintain the following records: (1) A current list of the full name and last known business
or residence street address of each member. (2) A copy of the filed certificate of formation
and all amendments thereto, together with executed copies of any powers of attorney pursuant
to which any documents have been executed. (3) Copies of the limited liability company's federal,
state, and local income tax returns and reports, if any, for the three most recent years.
(4) Copies of the then effective limited liability company agreement including any amendments
thereto. (5) Copies of any financial statements of the limited liability company for the three
most recent years. (b) Subject to subsection (g), on 10 days' notice made in a writing received
by the limited liability company, the records set forth in...
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10A-9A-4.07
Section 10A-9A-4.07 Right of general partner and former general partner to information. Notwithstanding
Sections 10A-1-3.32 and 10A-1-3.33: (a) Subject to subsection (f), a general partner, without
having any particular purpose for seeking the information, may inspect and copy during regular
business hours at a reasonable location specified by the limited partnership, required information
and any other records maintained by the limited partnership regarding the limited partnership's
activities and affairs and financial condition. (b) Subject to subsection (f), each general
partner and the limited partnership shall furnish to a general partner: (1) without demand,
any information concerning the limited partnership's activities and affairs and activities
and affairs reasonably required for the proper exercise of the general partner's rights and
duties under the partnership agreement or this chapter; and (2) on demand, any other information
concerning the limited partnership's activities...
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2-1-3
Section 2-1-3 Prima facie evidence of possession with intent to sell. The having in possession
of any article, substance, material or product, the sale of which is regulated under the provisions
of this title or any other provision of this Code or other statute which the Commissioner,
Department or Board of Agriculture and Industries is authorized or directed to administer
or enforce, by any person who manufactures, sells, keeps for sale, offers or exposes for sale,
serves, distributes or delivers the same shall be prima facie evidence of having in possession
with intent to sell, except, that this section or any of the penalties set forth in this title
or other such statute shall not apply to any common carrier when said article, substance,
material or product was received by said carrier for transportation in the ordinary course
of business and without actual knowledge of the adulteration, misbranding or under standard
grade, weight or measure claimed. (Ag. Code 1927, ยง3; Code 1940,...
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32-12-22
Section 32-12-22 License requirements of persons operating motor-driven cycles. (a) A person
operating a motor-driven cycle with a Class M motorcycle license with a motor-driven cycle
restriction, a motorcycle Class M displayed on the person's regular license, or a Class M
motorcycle license shall be granted all of the rights and shall be subject to all of the duties
applicable to the driver of any other vehicle under Chapter 6 of this title, except as to
special regulations in this article and those provisions of this chapter which by their nature
can have no application. (b)(1) A Class M motorcycle license with a motor-driven cycle restriction
shall be issued to any person 14 years and older if the person has passed a motorcycle knowledge
test designated by the Alabama Law Enforcement Agency or if the individual has successfully
completed an Alabama Traffic Safety Center/Alabama Motorcycle Safety Program, Motorcycle Safety
Foundation, Basic Riders Course. (2) A person 17 years of age...
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