11-65-19
Section 11-65-19 Review of application for operator's license. (a) A commission shall promptly consider any application for the issuance or transfer of an operator's license submitted to it and shall grant or deny the issuance or transfer of such license based on all information before it, including the results of investigations it deems appropriate. A commission shall deny a license to any applicant unless it finds as follows: (1) That such applicant is a business entity, whether a corporation, partnership, or other kind of organization, possessing the organizational substance, financial soundness, managerial capability, and business experience with racing and pari-mutuel wagering operations, or with businesses requiring similar managerial experience and skill, that, in the reasonable judgment of the commission, are necessary to conduct horse racing and pari-mutuel wagering thereon or greyhound racing and pari-mutuel wagering thereon, as the case may be, at the location for which an...
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23-2-167
Section 23-2-167 Definitions. THIS SECTION WAS AMENDED BY ACT 2019-501 IN THE 2019 REGULAR SESSION, EFFECTIVE JANUARY 1, 2024. TO SEE THE AMENDED VERSION, SEE THE VERSION LABELED PENDING. As used in this article, the following words shall have the following meanings: (1) AUTHORITY. The Alabama Toll Road, Bridge and Tunnel Authority, as defined in Section 23-2-142. (2) DEPARTMENT. The Department of Transportation. (3) ELECTRONIC TOLL COLLECTION. A method of collecting tolls or charges which is capable of charging an account holder the appropriate toll or charge including, but not limited to, either of the following: a. The transmission of information from an electronic device on a motor vehicle to the toll system, which information is used to charge the account the appropriate toll or charge. b. The transmission of license plate information from a photo-monitoring system to the toll system, which information is used to charge the account the appropriate toll or charge. (4) ELECTRONIC...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-2-167.htm - 4K - Match Info - Similar pages
40-29-30
Section 40-29-30 Legal effect of certificate of sale of personal property and deed of real property. (a) Certificate of sale of property other than real property. In all cases of a sale of property (other than real property) pursuant to Section 40-29-26, the certificate of such sale: (1) AS EVIDENCE. Shall be prima facie evidence of the right of the officer to make such sale, and conclusive evidence of the regularity of his proceedings in making the sale; and (2) AS CONVEYANCES. Shall transfer to the purchaser all right, title, and interest of the party delinquent in and to the property sold; and (3) AS AUTHORITY FOR TRANSFER OF CORPORATE STOCK. If such property consists of stocks, shall be notice when received, to any corporation, company, or association of such transfer, and shall be authority to such corporation, company, or association to record the transfer on its books and records in the same manner as if the stocks were transferred or assigned by the party holding the same, in...
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45-49A-81.04
Section 45-49A-81.04 Investment of funds. All monies properly belonging to the fund shall be kept in a separate account or accounts, and may, in the discretion of the persons charged with the duties of administering the fund, be invested in any securities provided by law to be a suitable investment for trust fund monies pursuant to the laws of this state including, but not limited to, the following: (1) Bonds, notes, or other obligations of the United States, or those guaranteed by the United States or for which the credit of the United States is pledged for the payment of the principal and interest or the dividends thereof. (2) State bonds pledging the full faith and credit of the state and revenue bonds additionally secured by the full faith and credit of the state. (3) Bonds of the counties and municipalities of the state which contain a pledge of full faith and credit of the county or municipality which issues the bonds. (4) Savings accounts or certificates of deposit at any bank...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-49A-81.04.htm - 2K - Match Info - Similar pages
7-9A-208
Section 7-9A-208 Additional duties of secured party having control of collateral. (a) Applicability of section. This section applies to cases in which there is no outstanding secured obligation and the secured party is not committed to make advances, incur obligations, or otherwise give value. (b) Duties of secured party after receiving demand from debtor. Within 10 days after receiving an authenticated demand by the debtor: (1) a secured party having control of a deposit account under Section 7-9A-104(a)(2) shall send to the bank with which the deposit account is maintained an authenticated statement that releases the bank from any further obligation to comply with instructions originated by the secured party; (2) a secured party having control of a deposit account under Section 7-9A-104(a)(3) shall: (A) pay the debtor the balance on deposit in the deposit account; or (B) transfer the balance on deposit into a deposit account in the debtor's name; (3) a secured party, other than a...
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23-1-158
Section 23-1-158 Bonds - Disposition of proceeds. (a) The proceeds of all bonds, other than refunding bonds, issued by the corporation, remaining after paying the expenses of their issuance, shall be turned in to the Treasury or shall be deposited into such account or accounts as specified in the resolution of the board of directors whereunder such bonds are authorized to be issued, and shall be subject to be drawn on upon the approval of the Department of Transportation solely for the purpose of constructing, reconstructing, and relocating public roads, bridges and approaches thereto, tunnels, other public roadway improvements, or work incidental or related thereto, in the State of Alabama, including the acquisition of property necessary for such construction, reconstruction, and relocation and incidental and related work. If action is necessary in order to comply with any federal legislation relating to federal aid in construction of roads, the corporation may authorize the...
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5-11A-32
Section 5-11A-32 Notice of transfer. (a) Within 30 days after the date of the transfer of the fiduciary accounts, the transferor shall send written notice by first class mail to the last known address (as then set forth on the records of the transferor, or if not set forth, as may be determined by the transferor in the exercise of reasonable diligence) of the following persons or entities: (1) For employee benefit plans, to the plan sponsors. (2) For individual retirement accounts and retirement accounts for the self-employed, to the account owners. (3) For agency and escrow accounts, to the principals. (4) For securities for which a transferor bank serves as trustee, registrar, transfer agent or paying agent, to the issuers. (5) For revocable trusts under agreement, to the settlors. (6) For irrevocable trusts under agreement, to any co-fiduciary, to the settlor, to each current income beneficiary who is an adult, and if a current income beneficiary is a minor, to a parent of the minor...
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10A-2-14.34
Section 10A-2-14.34 Election to purchase in lieu of dissolution. REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) In a proceeding under Section 10A-2-14.30(2) to dissolve a corporation that has no shares listed on a national securities exchange or regularly traded in a market maintained by one or more members of a national or affiliated securities association, the corporation may elect or, if it fails to elect, one or more shareholders may elect to purchase all shares owned by the petitioning shareholder at the fair value of the shares. An election pursuant to this section shall be irrevocable unless the court determines that it is equitable to set aside or modify the election. (b) An election to purchase pursuant to this section may be filed with the court at any time within 90 days after the filing of the petition under Section 10A-2-14.30(2) or at a later time as the court in its discretion may allow. If...
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10A-20-7.04
Section 10A-20-7.04 Powers of corporation. In furtherance of its purposes and in addition to the powers now or hereafter conferred on business corporations by Alabama statutes, the corporation shall, subject to the restrictions and limitations contained in this section, have the following powers: (1) To elect, appoint, and employ officers, agents, and employees to make contracts and incur liabilities for any of the purposes of the corporation; provided, that the corporation shall not incur any secondary liability by way of guaranty or endorsement of the obligations of any person, firm, corporation, joint stock company, association, or trust or in any other manner. (2) To borrow money from its members and the small business administration and any other similar federal agency for any of the purposes of the corporation, to issue therefor its bonds, debentures, notes, or other evidences of indebtedness, whether secured or unsecured, and to secure the same by mortgage, pledge, deed of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-20-7.04.htm - 4K - Match Info - Similar pages
11-101A-10
Section 11-101A-10 Powers of authorizing subdivision. (a) In addition to all other powers that an authorizing subdivision may have with respect to an authority, any authorizing subdivision may, with or without consideration and on such terms as its governing body may deem advisable: (1) Lend, donate, or otherwise contribute money to, or perform services for the benefit of, an authority. (2) Donate, convey, transfer, lease, or grant to an authority any property of any kind. (3) Enter into contractual agreements with an authority and with other authorizing subdivisions obligating the authorizing subdivision to lend, donate, or otherwise contribute money to, perform services for the benefit of, and to otherwise provide financial support for an authority. (4) Issue securities of the authorizing subdivision to provide moneys to make any loan, donation, or contribution provided for in subdivisions (1), (2), and (3). (b) The obligation of an authorizing subdivision to lend, donate, or...
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