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6-11-54
Section 6-11-54 Effects of transfer of rights. (a) Following a transfer of structured settlement
payment rights under this article: (1) The structured settlement obligor and the annuity issuer
shall, as to all parties except the transferee, be discharged and released from any and all
liability for the transferred payments. (2) The transferee shall be liable to the structured
settlement obligor and the annuity issuer in the following cases: a. If the transfer contravenes
the terms of the structured settlement, for any federal or state income taxes, interest, fees,
and penalties incurred by the parties, including the annuity issuer and structured settlement
obligor, as a consequence of the transfer. b. For any other liabilities or costs, including
reasonable costs and attorneys' fees, arising from compliance by the parties with the order
of the court or responsible administrative authority or arising as a consequence of the transferee's
failure to comply with this article. (b) Neither...
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7-9A-617
Section 7-9A-617 Rights of transferee of collateral. (a) Effects of disposition. A secured
party's disposition of collateral after default: (1) transfers to a transferee for value all
of the debtor's rights in the collateral; (2) discharges the security interest under which
the disposition is made; and (3) discharges any subordinate security interest or other subordinate
lien. (b) Rights of good-faith transferee. A transferee that acts in good faith takes free
of the rights and interests described in subsection (a), even if the secured party fails to
comply with this article or the requirements of any judicial proceeding. (c) Rights of other
transferee. If a transferee does not take free of the rights and interests described in subsection
(a), the transferee takes the collateral subject to: (1) the debtor's rights in the collateral;
(2) the security interest or agricultural lien under which the disposition is made; and (3)
any other security interest or other lien. (Act 2001-481, p....
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12-18-156
Section 12-18-156 Payments from plan; optional allowances; replacement beneficiaries. (a) Should
a member cease to be a judge or clerk except by death or by retirement under the provisions
of this article, the contributions standing to the credit of his or her individual account
in the fund shall be paid to him or her upon demand and, in addition to such payment, there
shall be paid five-tenths of the interest accumulations standing to the credit of his or her
individual account if he or she shall have not less than three but less than 16 years of membership
service, six-tenths of such interest accumulations if he or she shall have not less than 16
but less than 21 years of membership service, seven-tenths of such interest accumulations
if he or she shall have not less than 21 but less than 26 years of membership service and
eight-tenths of such interest accumulations if he or she shall have not less than 26 years
of membership service. (b) In case of the death of a member eligible for...
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41-10-516
Section 41-10-516 Special funds. For the purpose of providing funds for the payment of the
principal of and interest on the bonds issued by the authority under the provisions of this
article, there is hereby created and irrevocably pledged to the payment of such obligations
a special and continuing trust fund which shall consist of all receipts and income from rents
contracted for and received by the authority under leases of the facility or facilities constructed
with the proceeds from the sale of the bonds. There shall be created within said special and
continuing trust fund a reserve fund account of said authority in the State Treasury in which
shall be placed as trust fund and held separate and apart from all other moneys of the state
or of the authority, (1) any moneys left after the completion of the facility and the payment
of all costs in connection therewith and in connection with the issuance of the bonds, and,
(2) all excess rentals and other surplus income from the facility...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-516.htm - 2K - Match Info - Similar pages
6-5-253
Section 6-5-253 Payment or tender of purchase money and other lawful charges, with interest.
(a) Anyone entitled and desiring to redeem real estate under the provisions of this article
must also pay or tender to the purchaser or his or her transferee the purchase price paid
at the sale, with interest at the rate allowed to be charged on money judgments as set forth
in Section 8-8-10 (as it is now or hereinafter may be amended), and all other lawful charges,
also with interest as aforesaid; lawful charges are the following: (1) Permanent improvements
as prescribed herein. (2) Taxes paid or assessed. (3) All insurance premiums paid or owed
by the purchaser. (4) Any other valid lien or encumbrance paid or owned by such purchaser
or his or her transferee or if the redeeming party is a judgment creditor or junior mortgagee
or any transferee thereof, then all recorded judgments, recorded mortgages, and recorded liens
having a higher priority in existence at the time of sale which are revived...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/6-5-253.htm - 3K - Match Info - Similar pages
10A-9A-8.09
Section 10A-9A-8.09 Disposition of assets, when contributions required. Notwithstanding Section
10A-1-9.12, upon the winding up of a limited partnership, the assets of the limited partnership,
including any obligation under Article 5 of this chapter, and any contribution required by
this section, shall be applied as follows: (a) Payment, or adequate provision for payment,
shall be made to creditors, including, to the extent permitted by law, partners who are creditors,
in satisfaction of liabilities of the limited partnership. (b) After a limited partnership
complies with subsection (a), any surplus must be distributed: (1) first, to each person owning
a transferable interest that reflects contributions made on account of the transferable interest
and not previously returned, an amount equal to the value of the person's unreturned contributions;
and (2) then to each person owning a transferable interest in the proportions in which the
owners of transferable interests share in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-9A-8.09.htm - 3K - Match Info - Similar pages
40-29-33
Section 40-29-33 Application of proceeds of levy. (a) Collection of liability. Any money realized
by proceedings under this article (whether by seizure, by surrender under Section 40-29-24,
except pursuant to subsection (b)(2) thereof, or by sale of seized property) or by sale of
property redeemed by the State of Alabama (if the interest of the State of Alabama in such
property was a lien arising under the provisions of this title) shall be applied as follows:
(1) EXPENSE OF LEVY AND SALE. First, against the expenses of the proceedings; (2) SPECIFIC
TAX LIABILITY ON SEIZED PROPERTY. If the property seized and sold is subject to a tax imposed
under this title which has not been paid, the amount remaining after applying subdivision
(1) shall then be applied against such tax liability, including any penalty and interest,
(and, if such tax was not previously assessed, it shall then be assessed); (3) LIABILITY OF
DELINQUENT TAXPAYER. The amount, if any, remaining after applying subdivisions...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-29-33.htm - 1K - Match Info - Similar pages
7-9A-622
Section 7-9A-622 Effect of acceptance of collateral. (a) Effect of acceptance. A secured party's
acceptance of collateral in full or partial satisfaction of the obligation it secures: (1)
discharges the obligation to the extent consented to by the debtor; (2) transfers to the secured
party all of a debtor's rights in the collateral; (3) discharges the security interest or
agricultural lien that is the subject of the debtor's consent and any subordinate security
interest or other subordinate lien; and (4) terminates any other subordinate interest. (b)
Discharge of subordinate interest notwithstanding noncompliance. A subordinate interest is
discharged or terminated under subsection (a), even if the secured party fails to comply with
this article. (Act 2001-481, p. 647, ยง1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-9A-622.htm - 1K - Match Info - Similar pages
4-3-54
Section 4-3-54 Bonds - Security for payment of principal and interest. In the discretion of
the authority, any bonds may be issued under and secured by an indenture between the authority
and a trustee. Said trustee may be a private person or corporation, including, but not limited
to, any trust company or bank having trust powers, whether such bank or trust company is located
within or without the state. In any such indenture or resolution providing for the issuance
of bonds, the authority may pledge for payment of the principal of and the interest on such
bonds any of its revenues, rents, income or funds to which its right then exists or may thereafter
come into existence and may assign, as security for such payment, any of its leases, franchises,
permits and contracts and, in any such indenture, the authority may mortgage any of its properties,
including any that may be thereafter acquired by it. Any such pledge of revenues shall be
valid and binding from the time it is made, and the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/4-3-54.htm - 4K - Match Info - Similar pages
41-10-472
Section 41-10-472 Pledge and lien for benefit of bonds. In the proceedings authorizing the
issuance of any of its bonds, the authority is authorized and empowered to pledge for the
payment of the principal of and interest on such bonds at the respective maturities of said
principal and interest, and to agree to use solely for such purpose, all the revenues which
under the provisions of Section 41-10-471 are provided for the payment of the said principal
and interest, subject to prior pledges thereof as and to the extent the authority may provide.
In said proceedings the authority may further provide and create, as security for the payment
of said principal and interest, a statutory lien upon the buildings and properties, other
than the State Capitol, for the acquisition and construction or renovation of which the bonds
are issued. Such statutory lien shall not be subject to foreclosure and, in the event of default
in the payment of any such principal or interest, the remedies...
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