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5-13B-111
Section 5-13B-111 Asset maintenance. (a) Each foreign bank which is licensed to establish
and maintain an Alabama state branch or Alabama state agency shall hold in this state currency,
bonds, notes, debentures, drafts, bills of exchange, or other evidences of indebtedness, including
loan participation agreements or certificates, or other obligations payable in the United
States or in United States funds or, with the prior approval of the superintendent, in funds
freely convertible into United States funds, or such other assets as the superintendent shall
by regulation or order permit, in an amount which shall bear such relationship as the superintendent
shall by regulation or order prescribe to liabilities of such foreign bank payable at or through
its Alabama state branch or Alabama state agency, including acceptances, but excluding amounts
due and other liabilities to other offices, agencies, or branches of, and wholly owned, except
for a nominal number of directors' shares,...
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7-9A-108
Section 7-9A-108 Sufficiency of description. (a) Sufficiency of description. Except
as otherwise provided in subsections (c), (d), and (e), a description of personal or real
property is sufficient, whether or not it is specific, if it reasonably identifies what is
described. (b) Examples of reasonable identification. Except as otherwise provided in subsection
(d), a description of collateral reasonably identifies the collateral if it identifies the
collateral by: (1) specific listing; (2) category; (3) except as otherwise provided in subsection
(e), a type of collateral defined in the Uniform Commercial Code; (4) quantity; (5) computational
or allocational formula or procedure; or (6) except as otherwise provided in subsection (c),
any other method, if the identity of the collateral is objectively determinable. (c) Supergeneric
description not sufficient. A description of collateral as "all the debtor's assets"
or "all the debtor's personal property" or using words of similar import...
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35-12-77
Section 35-12-77 Payment or delivery of abandoned property. (a) Except for property
held in a safe deposit box or other safekeeping depository, upon filing the report required
in Section 35-12-76, the holder of property presumed abandoned shall pay, deliver,
or cause to be paid or delivered to the Treasurer the property described in the report as
unclaimed, but if the property is an automatically renewable deposit, and a penalty or forfeiture
in the payment of interest would result, the time for compliance is extended until a penalty
or forfeiture would no longer result. (b) Tangible property held in a safe deposit box or
other safekeeping depository shall be delivered to the Treasurer within 120 days after filing
the report required in Section 35-12-76. (c) If the property reported to the Treasurer
is a security or security entitlement under Article 8 of Title 7, the Uniform Commercial Code,
the Treasurer is an appropriate person to make an indorsement, instruction, or entitlement...
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35-12-71
Section 35-12-71 Definitions. As used in this article, unless the context otherwise
requires, the following terms shall have the meanings respectively ascribed to them by this
section: (1) APPARENT OWNER. A person whose name appears on the records of a holder
as the person entitled to property held, issued, or owing by the holder. (2) BUSINESS ASSOCIATION.
A corporation, joint stock company, investment company, partnership, unincorporated association,
joint venture, limited liability company, business trust, trust company, safe deposit company,
financial organization, insurance company, mutual fund, utility, or other business entity
consisting of one or more persons, whether or not for profit. (3) DOMICILE. The state of incorporation
of a corporation and the state of the principal place of business of a holder other than a
corporation. (4) FINANCIAL ORGANIZATION. A savings and loan association, building and loan
association, industrial loan organization, credit union, cooperative bank,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-12-71.htm - 6K - Match Info - Similar pages
27-27-26
Section 27-27-26 Pecuniary interests of officers, etc., of domestic insurers. (a) No
officer or director of a domestic insurer, and no member of any committee or employee of a
domestic insurer who is charged with the duty of investing or handling the funds of the insurer,
shall do any of the following: (1) Deposit or invest the funds except in the corporate name
of the insurer; except, that the insurer may for its convenience hold any equity investment
in a street name or in the name of a nominee. (2) Borrow the funds of the insurer. (3) Be
pecuniarily interested in any loan, pledge or deposit, security, investment, sale, purchase,
exchange, reinsurance, or other similar transaction or property of the insurer except as follows:
a. As a stockholder or member of the insurer. b. As a holder or owner of common stock or equity-like
preferred stock in any corporation or business entity trading on a national or international
stock exchange. c. As a holder or owner of shares of mutual funds,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-27-26.htm - 3K - Match Info - Similar pages
27-29-4
Section 27-29-4 Registration of insurers. (a)(1) Every insurer which is authorized to
do business in this state and which is a member of an insurance holding company system shall
register with the commissioner, except a foreign insurer subject to registration requirements
and standards adopted by statute or regulation in the jurisdiction of its domicile which are
substantially similar to those contained in this section and both of the following:
a. Subdivision (1) of subsection (a) of Section 27-29-5, and subsections (b) and (d)
of Section 27-29-5. b. Either subdivision (2) of subsection (a) of Section 27-29-5
or a provision such as the following: Each registered insurer shall keep current the information
required to be disclosed in its registration statement by reporting all material changes or
additions within 15 days after the end of the month in which it learns of each change or addition.
(2) Any insurer which is subject to registration under this section shall register
within 15...
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40-2A-7
Section 40-2A-7 Uniform revenue procedures. (a) Maintenance of records; audit and subpoena
authority; authority to issue regulations. (1) In addition to all other recordkeeping requirements
otherwise set out in this title, taxpayers shall keep and maintain an accurate and complete
set of records, books, and other information sufficient to allow the department to determine
the correct amount of value or correct amount of any tax, license, permit, or fee administered
by the department, or other records or information as may be necessary for the proper administration
of any matters under the jurisdiction of the department. The books, records, and other information
shall be open and available for inspection by the department upon request at a reasonable
time and location. (2) The department may examine and audit the records, books, or other relevant
information maintained by any taxpayer or other person for the purpose of computing and determining
the correct amount of value or correct...
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19-3B-802
Section 19-3B-802 Duty of loyalty. (a) A trustee shall administer the trust solely in
the interests of the beneficiaries. (b) Subject to the rights of persons dealing with or assisting
the trustee as provided in Section 19-3B-1012, a sale, encumbrance, or other transaction
involving the investment or management of trust property entered into by the trustee for the
trustee's own personal account or which is otherwise affected by a conflict between the trustee's
fiduciary and personal interests is voidable by a beneficiary affected by the transaction
unless: (1) the transaction was authorized by the terms of the trust; (2) the transaction
was approved by the court; (3) the beneficiary did not commence a judicial proceeding within
the time allowed by Section 19-3B-1005; (4) the beneficiary consented to the trustee's
conduct, ratified the transaction, or released the trustee in compliance with Section
19-3B-1009; or (5) the transaction involves a contract entered into or claim acquired by...
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8-32-3
Section 8-32-3 Requirements for selling or offering to sell service contracts. (a) Either
the provider or its designee shall: (1) Provide a receipt for, or other written evidence of,
the purchase of the service contract to the contract holder. (2) Provide a copy of the service
contract to the service contract holder within a reasonable period of time from the date of
purchase. (b) A provider may, but is not required to, appoint an administrator or other designee
to be responsible for any or all of the administration of service contracts and compliance
with this chapter. (c) Each provider of service contracts sold in this state shall file a
registration with the commissioner on a form prescribed by the commissioner. Each provider
shall pay to the commissioner a fee in the amount of two hundred dollars ($200) annually.
All fees collected shall be paid into a special revolving fund to be set up by the State Treasurer
referred to as the "Service Contract Revolving Fund." The Service...
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8-6-2
Section 8-6-2 Definitions. When used in this article, unless the context otherwise requires,
the following terms shall have the meanings respectively ascribed to them by this section:
(1) COMMISSION or SECURITIES COMMISSION. The securities commission. (2) AGENT. Any individual
other than a dealer who represents a dealer or issuer in effecting or attempting to effect
sales of securities, but such term does not include an individual who represents an issuer
in: a. Effecting a transaction in a security exempted by subdivisions (1), (2), (3), (4),
(9) or (10) of Section 8-6-10; b. Effecting transactions exempted by Section
8-6-11; or c. Effecting transactions with existing employees, partners, or directors of the
issuer if no commission or other remuneration is paid or given directly or indirectly for
soliciting any person in this state. A partner, officer, or director of a dealer or issuer
is an agent if he otherwise comes within this definition. (3) DEALER. Any person engaged in
the...
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