11-81-114
Section 11-81-114 Maintenance and disposition of sinking fund account for bond issues; enforcement of maintenance of accounts, payment of bonds, etc.; disposition of assessments securing bonds in certain cities. (a) The official charged with the duty of collecting assessments shall keep all sinking funds in some bank or banks paying interest on time deposits to be designated by the governing body of said municipality and shall provide and keep a separate sinking fund account for each bond issue. If said officer shall fail to provide and keep said separate sinking fund account for each such bond issue in said bank or banks or shall divert any of such funds to other uses or shall fail to pay any bond or bonds or the interest thereon properly payable from said funds when available, any taxpayer of the issuing municipality or any holder of bonds of the series affected by such diversion or failure, whether of bonds heretofore issued or to be hereafter issued, shall have the right to apply...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-81-114.htm - 2K - Match Info - Similar pages
7-9A-310
Section 7-9A-310 When filing required to perfect security interest or agricultural lien; security interests and agricultural liens to which filing provisions do not apply. (a) General rule: Perfection by filing. Except as otherwise provided in subsection (b) and Section 7-9A-312(b), a financing statement must be filed to perfect all security interests and agricultural liens. (b) Exceptions: Filing not necessary. The filing of a financing statement is not necessary to perfect a security interest: (1) that is perfected under Section 7-9A-308(d), (e), (f), or (g); (2) that is perfected under Section 7-9A-309 when it attaches; (3) in property subject to a statute, regulation, or treaty described in Section 7-9A-311(a); (4) in goods in possession of a bailee which is perfected under Section 7-9A-312(d)(1) or (2); (5) in certificated securities, documents, goods, or instruments which is perfected without filing, control, or possession under Section 7-9A-312(e), (f), or (g); (6) in collateral...
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45-49-151.17
Section 45-49-151.17 Disposition of funds. (a) All fees, commissions, taxes, and other monies, including fines and forfeitures, received under this subpart shall be paid to the racing commission and shall be remitted by it to the county treasurer for deposit in the county treasury to the account of the Mobile County Racing Commission as directed by the racing commission. All monies remaining after payment of the expenses incurred in the administration of this subpart including, but not limited to, the payment of the salaries and expenses of the members and employees of the racing commission, and subject to any reserves for contingencies as the racing commission shall direct, shall be distributed by the county treasurer monthly as follows: (1) Until the capital improvement fund has accumulated four million two hundred thousand dollars ($4,200,000): Forty percent to the University of South Alabama for the use of the medical school; 10 percent to S. D. Bishop State Community College; 15...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-49-151.17.htm - 8K - Match Info - Similar pages
27-37-1
Section 27-37-1 Assets - Generally. In any determination of the financial condition of an insurer, there shall be allowed as assets only such assets as are owned by the insurer and which consist of: (1) Cash in the possession of the insurer or in transit under its control, and including the true balance of any deposit in a solvent bank or trust company; (2) Investments, securities, properties, and loans acquired, or held, in accordance with this title and in connection therewith the following items: a. Interest due or accrued on any bond or evidence of indebtedness which is not in default and which is not valued on a basis including accrued interest; b. Declared and unpaid dividends on stock and shares, unless such amount has otherwise been allowed as an asset; c. Interest due or accrued upon a collateral loan in an amount not to exceed one year's interest thereon; d. Interest due or accrued on deposits in solvent banks and trust companies, and interest due or accrued on other assets,...
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5-5A-41
Section 5-5A-41 Payment of deposits made in names of two persons upon death of one; more than two persons with provision for survivorship. (a) Any deposit heretofore or hereafter made in any bank in the names of two or more persons payable to any of such persons, upon the death of either of said persons, may be paid by the bank to the survivors jointly, irrespective of whether or not: (1) The form of the deposit or deposit contract contains any provision for survivorship; (2) The funds deposited were the property of only one said person; (3) There was at the time of making such deposit any intention on the part of the person making such deposit to vest the other with a present interest therein; (4) Only one of said persons during their joint lives had the right to withdraw such deposit; (5) There was any delivery of any bank book, account book, savings account book, certificate of deposit or other writing by the person making such deposit to the other of such persons; or (6) Any other...
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7-9A-408
Section 7-9A-408 Restrictions on assignment of promissory notes, health-care-insurance receivables, and certain general intangibles ineffective. (a) Term restricting assignment generally ineffective. Except as otherwise provided in subsection (b), a term in a promissory note or in an agreement between an account debtor and a debtor which relates to a health-care-insurance receivable or a general intangible, including a contract, permit, license, or franchise, and which term prohibits, restricts, or requires the consent of the person obligated on the promissory note or the account debtor to, the assignment or transfer of, or creation, attachment, or perfection of a security interest in, the promissory note, health-care-insurance receivable, or general intangible, is ineffective to the extent that the term: (1) would impair the creation, attachment, or perfection of a security interest; or (2) provides that the assignment or transfer or the creation, attachment, or perfection of the...
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10A-5A-5.03
Section 10A-5A-5.03 Charging order. (a) On application to a court of competent jurisdiction by any judgment creditor of a member or transferee, the court may charge the transferable interest of the judgment debtor with payment of the unsatisfied amount of the judgment with interest. To the extent so charged and after the limited liability company has been served with the charging order, the judgment creditor has only the right to receive any distribution or distributions to which the judgment debtor would otherwise be entitled in respect of the transferable interest. (b) A limited liability company, after being served with a charging order and its terms, shall be entitled to pay or deposit any distribution or distributions to which the judgment debtor would otherwise be entitled in respect of the charged transferable interest into the hands of the clerk of the court so issuing the charging order, and the payment or deposit shall discharge the limited liability company and the judgment...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-5A-5.03.htm - 3K - Match Info - Similar pages
10A-8A-5.03
Section 10A-8A-5.03 Rights of creditor of partner or transferee. (a) On application to a court of competent jurisdiction by any judgment creditor of a partner or transferee, the court may charge the transferable interest of the judgment debtor with payment of the unsatisfied amount of the judgment with interest. To the extent so charged and after the partnership has been served with the charging order, the judgment creditor has only the right to receive any distribution or distributions to which the judgment debtor would otherwise be entitled in respect of the transferable interest. (b) The partnership, after being served with a charging order and its terms, shall be entitled to pay or deposit any distribution or distributions to which the judgment debtor would otherwise be entitled in respect of the charged transferable interest into the hands of the clerk of the court so issuing the charging order, and the payment or deposit shall discharge the partnership and the judgment debtor...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-8A-5.03.htm - 3K - Match Info - Similar pages
10A-9A-7.03
Section 10A-9A-7.03 Rights of creditor of partner or transferee. (a) On application to a court of competent jurisdiction by any judgment creditor of a partner or transferee, the court may charge the transferable interest of the judgment debtor with payment of the unsatisfied amount of the judgment with interest. To the extent so charged and after the limited partnership has been served with the charging order, the judgment creditor has only the right to receive any distribution or distributions to which the judgment debtor would otherwise be entitled in respect of the transferable interest. (b) The limited partnership, after being served with a charging order and its terms, shall be entitled to pay or deposit any distribution or distributions to which the judgment debtor would otherwise be entitled in respect of the charged transferable interest into the hands of the clerk of the court so issuing the charging order, and the payment or deposit shall discharge the limited partnership and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-9A-7.03.htm - 3K - Match Info - Similar pages
39-7-27
Section 39-7-27 Disposition of moneys of authority. All moneys of an authority incorporated under this chapter from whatever source derived shall be paid to the treasurer of such authority and deposited by said treasurer in a depository designated by the board of trustees of such authority. The treasurer shall not commingle said moneys with any other moneys. Said moneys shall be deposited in a separate bank account or accounts. The moneys in said accounts shall be paid out on check or warrant of the treasurer of said authority on requisition of the board of trustees or of such other person or persons as the authority may authorize to make such requisitions. All deposits of such money shall, if required by such treasurer or by the board of trustees of the authority, be secured by obligations of the United States or of the State of Alabama of a market value equal at all times to the amount of the deposit and all banks and trust companies are authorized to give such security for such...
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