|
19-3B-816
Section 19-3B-816 Specific powers of trustee. (a) Without limiting the authority conferred
by Section 19-3B-815, a trustee may: (1) collect trust property and accept or reject additions
to the trust property from a settlor or any other person, including, but not being limited
to, the authority to receive, collect, hold, and retain common or preferred stock or other
interests in the trustee or any related party; (2) acquire or sell property, for cash or on
credit, at public or private sale; (3) exchange, partition, or otherwise change the character
of trust property; (4) deposit trust money in an account in a regulated financial-service
institution; (5) borrow money, with or without security, and mortgage or pledge trust property
for a period within or extending beyond the duration of the trust; (6) with respect to an
interest in a proprietorship, partnership, limited liability company, business trust, corporation,
or other form of business or enterprise, continue the business or other...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-3B-816.htm - 10K - Match Info - Similar pages
37-11A-1
by the Governor, or upon its otherwise becoming a law, and when the State of Mississippi ratifies
the compact. Article III. For purposes of this compact, the following terms shall have the
following meanings: (1) Person means an individual, a corporation, a partnership, or any other
entity. (2) Railroad means a common carrier by railroad as defined in Section 1(3) of Part
I of the Interstate Commerce Act [codified as 49 U.S.C. §1(3)]. (3) Railroad properties and
facilities mean any real or personal property or interest in property which is owned,
leased, or otherwise controlled by a railroad or other person, including, without limitation,
the authority, and which are used or are useful in rail transportation service, including,
without limiting the generality of the foregoing: a. Track, roadbed, and related structures,
including rail, ties, ballast, other track materials, grading, tunnels, bridges, trestles,
culverts, elevated structures, stations, office buildings used for operating...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-11A-1.htm - 33K - Match Info - Similar pages
43-2-851
Section 43-2-851 Bond. (a) The court must require a personal representative or special
administrator to furnish bond payable to the judge of probate conditioned upon faithful discharge
of all duties of the trust according to law, with sureties as it shall specify. Unless otherwise
directed, the bond must be in the amount of the aggregate capital value of the property of
the estate in the personal representative's control, plus one year's estimated income,
and minus the value of securities deposited under arrangements requiring an order of the court
for their removal and the value of any land which the fiduciary, pursuant to Section 43-2-844,
lacks power to sell or convey without court authorization. The court, in lieu of sureties
on a bond, may accept other collateral for the performance of the bond, including a pledge
of securities or any other assets or a mortgage of land. (b) The court may at any time reduce
the bond of the personal representative or require the personal...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/43-2-851.htm - 2K - Match Info - Similar pages
5-5A-18
Corporations formed for the purpose of doing business as a bank may: (1) Discount bills, notes
or other evidences of debt; (2) Receive and pay out deposits, with or without interest, pay
checks, and impose charges for any services; (3) Receive on special deposit money, bullion
or foreign coins or bonds or other securities; (4) Buy and sell foreign and domestic exchanges,
gold and silver bullion or foreign coins, bonds, bills of exchange, notes and other negotiable
paper; (5) Lend money on personal security or upon pledges of bonds, stocks or other
negotiable securities; (6) Take and receive security by mortgage, security agreement or otherwise
on property, real and personal; (7) Become trustees for any purpose and be appointed
and act as executors, administrators, guardians, receivers, or fiduciaries upon receiving
the prior written approval of the superintendent under Section 5-11A-1; (8) Lease real and
personal property upon specific request of a customer, provided such banks must...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-5A-18.htm - 2K - Match Info - Similar pages
7-8-106
Section 7-8-106 Control. (a) A purchaser has "control" of a certificated security
in bearer form if the certificated security is delivered to the purchaser. (b) A purchaser
has "control" of a certificated security in registered form if the certificated
security is delivered to the purchaser, and: (1) the certificate is indorsed to the purchaser
or in blank by an effective indorsement; or (2) the certificate is registered in the name
of the purchaser, upon original issue or registration of transfer by the issuer. (c) A purchaser
has "control" of an uncertificated security if: (1) the uncertificated security
is delivered to the purchaser; or (2) the issuer has agreed that it will comply with instructions
originated by the purchaser without further consent by the registered owner. (d) A purchaser
has "control" of a security entitlement if: (1) the purchaser becomes the entitlement
holder; (2) the securities intermediary has agreed that it will comply with entitlement orders
originated by...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-8-106.htm - 2K - Match Info - Similar pages
27-33-13
Section 27-33-13 Trusteed assets - Withdrawal. (a) The trust agreement shall provide, in substance,
that no withdrawals of trusteed assets shall be made by the insurer or permitted by the trustee
without the written authorization or approval of the commissioner in advance thereof except
as follows: (1) Any or all income, earnings, dividends, or interest accumulations of the trusteed
assets may be paid over to the United States manager of the insurer upon request of the insurer
or the manager; (2) For substitution, coincidentally with such withdrawal, of other securities
or assets of value at least equal in amount to those being withdrawn, if such substituted
securities or assets are likewise such as are eligible for investment of the funds of like
domestic insurers and if such withdrawal is requested in writing by the insurer's United States
manager pursuant to general or specific written authority previously given or delegated by
the insurer's board of directors, or other similar...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-33-13.htm - 3K - Match Info - Similar pages
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
43-8-1
the parent whose relationship is involved and excludes any person who is only a stepchild,
a foster child, a grandchild or any more remote descendant. (3) COURT. The court having jurisdiction
in matters relating to the affairs of decedents. This court in Alabama is known as the probate
court. (4) DAYS. That period of time as computed in accordance with section 1-1-4 and Rule
6(a), Alabama Rules of Civil Procedure. (5) DEVISE. When used as a noun, means a testamentary
disposition of real or personal property and when used as a verb, means to dispose
of real or personal property by will. (6) DEVISEE. Any person designated in a will
to receive a devise. In the case of a devise to an existing trust or trustee, or to a trustee
or trust described by will, the trust or trustee is the devisee and the beneficiaries are
not devisees. (7) DISTRIBUTEE. Any person who has received property of a decedent from his
personal representative other than as creditor or purchaser. A testamentary trustee
is...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/43-8-1.htm - 8K - Match Info - Similar pages
7-9A-805
a jurisdiction other than the jurisdiction in which the financing statement is filed governs
perfection of a security interest in collateral covered by the financing statement. (e) Application
of Part 5. A financing statement that includes a financing statement filed before July 1,
2014, and a continuation statement filed on or after July 1, 2014, is effective only to the
extent that it satisfies the requirements of Part 5 as amended by Act 2014-374 for an initial
financing statement. A financing statement that indicates that the debtor is a decedent's
estate indicates that the collateral is being administered by a personal representative
within the meaning of Section 7-9A-503(a)(2) as amended by Act 2014-374. A financing statement
that indicates that the debtor is a trust or is a trustee acting with respect to property
held in trust indicates that the collateral is held in a trust within the meaning of Section
7-9A-503(a)(3) as amended by Act 2014-374. (Act 2014-374, p. 1339, §2.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-9A-805.htm - 3K - Match Info - Similar pages
8-9-2
of another; (4) Every agreement, promise or undertaking made upon consideration of marriage,
except mutual promises to marry; (5) Every contract for the sale of lands, tenements or hereditaments,
or of any interest therein, except leases for a term not longer than one year, unless the
purchase money, or a portion thereof is paid and the purchaser is put in possession of the
land by the seller; (6) Every agreement, contract or promise to make a will or to devise or
bequeath any real or personal property or right, title or interest therein; (7) Every
agreement or commitment to lend money, delay or forebear repayment thereof or to modify the
provisions of such an agreement or commitment except for consumer loans with a principal amount
financed less than $25,000; (8) Notwithstanding Section 7-8-113, every agreement for the sale
or purchase of securities other than through the facilities of a national stock exchange or
of the over-the-counter securities market. (Code 1852, §1551;...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-9-2.htm - 2K - Match Info - Similar pages
|