33-2-9
Section 33-2-9 Application of proceeds of facilities; payment of deficiency where proceeds
are insufficient to cover expenses. The proceeds of the handling and operation of improvements
and facilities constructed pursuant to this article shall be applied as follows: All expenses
of carrying out the purposes of this article shall be paid from said proceeds. Not less than
30 days before each semiannual date upon which interest matures on the bonds hereby authorized,
or any installment of principal matures, the Secretary-Treasurer of the State Docks Department
shall pay to the state treasury from receipts of facilities constructed pursuant to this article
an amount sufficient to cover such installment of interest or principal, and therefrom the
State Treasurer shall pay such interest or principal. If the receipts of the State Docks Department
from facilities constructed pursuant to this article are insufficient to cover any expenses
herein provided for or any installment of interest or...
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7-2A-303
Section 7-2A-303 Alienability of interests, transfer of rights, etc. (1) As used in
this section, "creation of a security interest" includes the sale of a lease
contract that is subject to Article 9A, Secured Transactions, by reason of Section
7-9A-109(a)(3). (2) Except as provided in subsection (3) and Section 7-9A-407, a provision
in a lease agreement which (i) prohibits the voluntary or involuntary transfer, including
a transfer by sale, sublease, creation, or enforcement of a security interest, or attachment,
levy, or other judicial process, of an interest of a party under the lease contract or of
the lessor's residual interest in the goods, or (ii) makes such a transfer an event of default,
gives rise to the rights and remedies provided in subsection (4), but a transfer that is prohibited
or is an event of default under the lease agreement is otherwise effective. (3) A provision
in a lease agreement which (i) prohibits a transfer of a right to damages for default with
respect to...
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7-8-320
Section 7-8-320 (Effective Until January 1, 1997) Transfer or pledge within a central
depository system. (1) If a security: (a) Is in the custody of a clearing corporation or of
a custodian bank or a nominee of either subject to the instructions of the clearing corporation;
and (b) Is in bearer form or indorsed in blank by an appropriate person or registered in the
name of the clearing corporation or custodian bank or a nominee of either; and (c) Is shown
on the account of a transferor or pledgor on the books of the clearing corporation; Then,
in addition to other methods, a transfer or pledge of the security or any interest therein
may be effected by the making of appropriate entries on the books of the clearing corporation
reducing the account of the transferor or pledgor and increasing the account of the transferee
or pledgee by the amount of the obligation or the number of shares or rights transferred or
pledged. (2) Under this section entries may be with respect to like securities...
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11-9-2
Section 11-9-2 Authority for issuance; form, terms, denominations, etc.; sale and disposition
of proceeds; pledge for payment of principal and interest generally. Each county which is
now levying or may hereafter levy a special sanitary tax shall have the power from time to
time to sell and issue, in addition to all other securities which it may now or hereafter
be authorized to issue, interest-bearing warrants or certificates of indebtedness of such
county for the purpose of paying the costs of acquiring, providing, constructing, enlarging
or extending a sanitary sewer system or systems or any part or parts thereof, including sanitary
sewers, outfall lines, a sewage disposal plant or plants and appurtenances to any thereof;
provided, that the maximum principal amount of warrants and certificates of indebtedness that
may be issued under the provisions of this article shall not exceed $1,500,000.00. Any such
warrants or certificates of indebtedness may be in such denomination or...
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16-13-310
Section 16-13-310 Obligations under contractual agreements. (a) Upon the request of
a public person who shall have issued or incurred obligations for the benefit of a board and
for a purpose or purposes for which a board could issue warrants under this article, and upon
compliance with the following terms and conditions, a board may undertake, pursuant to a contractual
agreement with such public person, to pay such amounts to, or for the account of, such public
person at such times and in such amounts as shall be sufficient to pay all, or such portion
as such board and such public person shall determine, of the principal of, premium (if any),
and interest on such obligations when and as due and payable. (b) The obligations of a public
person which a board is authorized to support by a contractual agreement under subsection
(a) shall be in such denomination, mature at such time or times, bear interest at such rate,
be subject to redemption, and contain such other terms, as are...
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16-60-111.11
Section 16-60-111.11 Additional powers of board. (a) The board may exercise all of the
following powers: (1) To borrow money from the United States of America or any department
or agency thereof, or from any person, firm, corporation, or other lending agency for the
purchase, construction, enlargement, or alteration of any buildings or other improvements,
including dormitories, dining halls, classrooms, laboratories, libraries, stadiums, administration
buildings, and any other buildings and appurtenances thereto suitable for use by the institution
or institutions with respect to which the borrowing is made, or for the benefit of the Alabama
Community College System or one or more of its programs, the acquisition of furniture and
equipment for any thereof, the purchase of land, the beautification of grounds, and the construction
of swimming pools, tennis courts, athletic fields, and other facilities for physical education,
all for use by such institution or institutions, and for the...
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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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22-27-23
Section 22-27-23 Special pledges for payment of principal and interest on warrants.
(a) The county commission of the county issuing any such warrants may, in its discretion,
assign and specially pledge, for the payment of the principal of and interest on such warrants,
so much as may be necessary for said payment of any one or more of the following, or any part
thereof: (1) The proceeds from the general annual ad valorem tax of one half of one percent
which the county is authorized to levy without reference to the purpose thereof under the
provisions of Section 215 of the Constitution of Alabama of 1901; (2) The proceeds
from any other tax, including any ad valorem tax and any privilege, license or excise tax,
that at the time of the issuance of the said warrants may lawfully be used by the county for
payment of such principal and interest; and (3) The revenues derived by the county from any
solid wastes collection and disposal facilities owned, controlled, used or operated by the...

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27-18-16
Section 27-18-16 Assignment of rights and benefits under group policies. Any person
insured under a group insurance policy may, in accordance with Section 27-14-21 and
pursuant to the terms of such policy or an arrangement among the insured, the group policyholder
and the insurer, make an assignment of the rights and benefits conferred by any provision
of such policy or by law, including specifically, but not by way of limitation, the right
to have issued to the insured an individual policy arising from conversion or otherwise and
the right to name a beneficiary. Any assignment permitted in this section, whether
made before or after January 1, 1972, shall be valid for the purpose of vesting in the assignee
all such rights and benefits so assigned and shall entitle the insurer to deal with the assignee
as the owner of all rights and benefits conferred on the insured under the policy in accordance
with the terms of the assignment without prejudice to the insurer on account of any payment...

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40-16-11
Section 40-16-11 Transition rules for Financial Institution Excise Tax Reform Act of
2019. This section provides for transition rules for the implementation of the Financial
Institution Excise Tax Reform Act of 2019. (1) Act 2019-284 imposes for the first time a system
of prepaid estimated tax payments patterned after the federal system and transitions the Financial
Institution Excise Tax from the current post-payment system. To account for this transition,
the Department of Revenue shall waive both penalties and interest attributable to underpayments
of estimated tax payments occurring within the first two applicable tax years and not attributable
to an intentional disregard of the law. (2) Act 2019-284's conformity of the depreciation
deduction allowed in the calculation of the tax due under this chapter with the corollary
deduction allowed for federal income tax purposes, as well as the act's express rejection
of the federal Tax Cuts and Jobs Act of 2017's (i) limitations on the...
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