22-21-107
Section 22-21-107 Issuance of securities - Terms, conditions, etc.; pledge of revenues; mortgages; foreclosure prohibited. Securities issued under this division may contain such other terms, provisions, conditions, limitations and agreements, not inconsistent with the provisions of this division, as the directors of the hospital corporation issuing the same shall deem advisable, including, but not limited to, a pledge of all or any part of the revenues of the hospital corporation in payment of the securities and a mortgage of all or any part of the property, real or personal, or any interest therein, of the hospital corporation, including the property acquired or to be acquired from the proceeds of the securities being issued, as security for the payment of the principal of and interest on the securities; provided, that no such mortgage or pledge shall be construed so as to permit the foreclosure thereof. (Acts 1949, No. 640, p. 981, §5.)...
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22-21-184
Section 22-21-184 Refunding securities. (a) The corporation may, at any time and from time to time, issue refunding securities for the purpose of refunding any securities of the corporation theretofore issued under Section 22-21-182 and then outstanding, whether or not such securities shall have matured or are redeemable at the option of the corporation at the time of such refunding; provided, however, that the maximum principal of securities that the corporation may at any time issue for refunding purposes shall not exceed the sum of: (1) The outstanding principal or face amount of the securities being refunded; (2) The unpaid interest accrued thereon to the date that such refunding securities are issued; (3) Any redemption premium necessary to be paid in order to redeem the securities to be refunded; and (4) The expenses estimated to be incurred in connection with such refunding. (b) The principal proceeds derived by the corporation from the sale of any refunding securities shall be...
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45-39-92.53
Section 45-39-92.53 Abolition of corporation upon payment in full of securities; disposition of proceeds. (a) When the original securities secured by a pledge of the taxes authorized in this subpart, including refunding securities hereafter issued to refund the original securities, for the Shoals Economic Development Project have been paid in full, the local public corporation is abolished. Securities for which an irrevocable trust fund consisting of cash or direct general obligations of the United States of America, or both, is established for retirement of all of the principal of or interest on any outstanding security, shall be deemed paid in full for the purposes of this subpart. (b) Notwithstanding any other provision of this subpart, the local public corporation may not increase any outstanding debt or debt obligations or create additional debts relating to the original bond balance owed as of May 12, 2005. (c) (1) Upon abolishment of the local public corporation, the proceeds of...
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37-4-11
Section 37-4-11 Sale, pledge or other disposition of securities. Whenever any securities set forth and described in any such application for authority or certificate of notification as pledged or held unencumbered in the treasury of the utility shall, subsequent to the filing of such application or certificate, be sold, pledged, repledged or otherwise disposed of by the utility, such utility shall, within 10 days after such sale, pledge, repledge or other disposition, file with the commission a certificate of notification to that effect, setting forth therein all such facts as may be required by the commission. (Acts 1920, No. 37, p. 38; Code 1923, §9748; Code 1940, T. 48, §313.)...
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22-21-182
Section 22-21-182 Borrowing by corporation generally; debts not obligations of state, counties or municipalities; tax exemptions. (a) All securities of the corporation shall be signed in the name and behalf of the corporation by its chairman and attested by its secretary, but a facsimile of the signature of one, but not both, of such officers may be printed thereon in lieu of the manual signature of such officer, and the seal of the corporation shall be affixed thereto or a facsimile thereof printed thereon. Any interest coupons applicable to any securities of the corporation shall be signed by its chairman, but a facsimile of such chairman's signature may be printed on any such interest coupons in lieu of his manually signing the same. Any securities of the corporation may be executed and delivered by it at any time and from time to time, shall be in such form and denomination and of such tenor and maturity or maturities not exceeding 40 years from their date, shall contain such...
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2-6-127
Section 2-6-127 Dissolution of corporation. When all securities issued by the corporation and all obligations assumed by it under this article shall have been paid in full, the then president of the corporation shall execute and deliver in the name of and in behalf of the corporation an appropriate deed, or deeds, to which the seal of the corporation shall be affixed and attested by the secretary of the corporation, whereby there shall be conveyed to the state all the buildings, properties, and other assets then owned by the corporation. The then officers and directors of the corporation shall at such time file with the Secretary of State a written statement, subscribed and sworn to by each of them, reciting the payment in full of all bonds issued by the corporation and the execution and delivery of such deed or deeds to the state, which statement shall be filed by the Secretary of State and recorded with the certificate of incorporation of the corporation, whereupon the corporation...
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2-6-85
Section 2-6-85 Exemption of securities from taxation. All securities issued by the corporation and any redemption premium and any interest thereon, the properties of the corporation and any income realized from rents or leases obtained from operation of any market facility constructed under the provision of this article, or any income realized from rents or leases from any source or business under the control of the Agricultural Center Board, and all instruments which may be filed for record pertaining to the pledge and lien authorized by this article to be created, shall be exempt from all taxation in the state. (Acts 1984, No. 84-252, p. 405, §16.)...
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10A-2-7.33
Section 10A-2-7.33 Corporation without notice of infancy may treat infant as having capacity to vote, transfer, etc. REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. A corporation may treat an infant who holds stock or other securities of the corporation in his or her own name as having capacity to vote or to give consent in person or by proxy in respect thereof, to transfer and to convey the same and to make elections and exercise rights relating to the stock or securities, unless the corporation has notice of the infancy by delivery to it or to its transfer agent of a written notice stating that the holder is an infant. (Acts 1957, No. 546, p. 766, §1; §10-6-1; amended and renumbered by Act 2009-513, p. 967, §114.)...
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11-50-170
Section 11-50-170 Authorized; terms; adoption of resolutions authorizing transfer. (a) Every public corporation heretofore or hereafter organized or created in this state pursuant to authorization or determination by a municipality or its governing body, which public corporation now or hereafter owns a water system or systems, and any municipality in this state in which any part of such water system or systems is situated are each hereby authorized, without the necessity of an election of qualified voters of any such municipality or of any other approval or proceeding other than those specifically prescribed in this article, to transfer and convey such system or systems and all right, title, and interest therein, including, without limitation, all reversionary, residuary, or remainder rights provided by law to any other public corporation, the certificate of incorporation of which was filed in the office of the probate judge of the same county in which was filed the certificate of...
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2-6-78
Section 2-6-78 Disposition of proceeds from sale of securities. All proceeds derived from the sale of any securities of the corporation, other than refunding securities, shall be deposited in the State Treasury and carried in a special account or accounts, and may be withdrawn solely for the purposes and in the amounts set out below: (1) No more than 60 percent of the said proceeds shall be used for the acquisition, construction and installation of a market facility by the Board of Agriculture and Industries. Withdrawals for such purpose shall be upon requisition by or pursuant to authority of the Board of Agriculture and Industries addressed and presented to the State Comptroller and paid out by the warrant of the Comptroller upon the State Treasury, to be used only to pay the following: a. The cost of materials, supplies and labor used in the construction of the market facility; b. The cost of acquisition and installation of equipment for the market facility; c. The cost of acquiring...
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