7-9A-522
Section 7-9A-522 Maintenance and destruction of records. (a) Post-lapse maintenance and retrieval of information. The filing office shall maintain a record of the information provided in a filed financing statement for at least one year after the effectiveness of the financing statement has lapsed under Section 7-9A-515 with respect to all secured parties of record. The record must be retrievable by using the name of the debtor and by using the file number assigned to the initial financing statement to which the record relates. (b) Destruction of written records. Except to the extent that a statute governing disposition of public records provides otherwise, the filing office immediately may destroy any written record evidencing a financing statement. However, if the filing office destroys a written record, it shall maintain another record of the financing statement which complies with subsection (a). (Act 2001-481, p. 647, §1.)...
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8-3-41
Section 8-3-41 Issuance of execution on judgment paid by surety; collection of money from principal debtor or cosureties. (a) If a judgment is entered by any court against a principal debtor and his surety, or against his sureties, and one or more of his sureties shall pay and satisfy the judgment, the same shall be thereby transferred and assigned by operation of law to the surety or sureties paying and satisfying it, who shall have all the liens and equities of such judgment and of the debt or claim on which the same is founded which the creditor therein had. (b) The surety, on making affidavit of his suretyship and of his having paid the judgment and filing the affidavit and any evidence of such payment that he may hold with the officer authorized to issue execution on the judgment to whom he may apply for execution, shall be entitled to have execution issued on the judgment in the name of the plaintiff or complainant for his use or in his own name against the other defendants...
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11-40-67
Section 11-40-67 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2017 REGULAR SESSION, EFFECTIVE MAY 16, 2017. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. Redemption of property prior to sale by payment of redemption amount. (a) At any point prior to the moment of the sale, any interested party may redeem the real property from the sale by payment of the redemption amount. Payment shall be made to the Class 2 municipality. Following receipt of the payment, the Class 2 municipality shall file for dismissal of the proceedings. (b) In the event of the payment by the owner of the real property, the proceedings shall be dismissed and the rights and interests of all interested parties shall remain unaffected. (c) In the event of payment by any interested party other than the owner, the party making the payment shall possess a lien on the real property for the full amount of the payment, which lien shall have the same priority as the municipal code lien discussed in subsection (b)...
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14-3-58
Section 14-3-58 Notification and procedures upon escape of inmate; reward. (a) This section shall be known as the "Joel Willmore Act." (b) Whenever an inmate escapes from a penal facility, as defined in subdivision (3) of subsection (b) of Section 13A-10-30, or when a probationer or parolee who has a prior conviction for a Class A felony or a crime in which the victim was a child less than 12 years of age or is serving a life sentence absconds from a residential facility, it shall be the duty of the department or other agency having custody of the prisoner to take all proper measures for his or her apprehension, and for that purpose, it shall notify the following as soon as possible, but not later than 12 hours after the escape: (1) The Governor. (2) The Alabama State Law Enforcement Agency. (3) The sheriff and district attorney of the county where the escape occurred. (4) The chief of police where the escape occurred, if the escape occurred within a municipality. (5) The sheriff and...
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24-11-7
Section 24-11-7 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION, EFFECTIVE MARCH 28, 2018. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. Deduction of Contributions, Exclusion of Earnings, and Limitations. (a) Except as otherwise provided in this chapter and subject to the limitations under this section, a first-time and second chance home buyer savings account holder shall be entitled to a state tax deduction, subject to the limitations of this section, not to exceed five thousand dollars ($5,000) for an account holder who files an individual tax return or ten thousand dollars ($10,000) for joint account holders who file a joint tax return, for contributions made by the account holder to a first-time and second chance home buyer savings account during the tax year in which the deduction is claimed. (b) Except as otherwise provided in this chapter and subject to the limitations under this section, earnings from the first-time and second chance home buyer...
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35-10-95
Section 35-10-95 Conditions for satisfaction agent to sign and submit affidavit for recording. (a) Subject to subsections (b) and (c), a satisfaction agent may sign and submit for recording an affidavit of satisfaction of a security instrument complying with this article if either of the following occurs: (1) There does not appear of record a satisfaction of a security instrument within 30 days after the receipt by the secured creditor of the notification. (2) The secured creditor authorizes the satisfaction agent to do so. (b) A satisfaction agent may not sign and submit for recording an affidavit of satisfaction of a security instrument if it has received a notification stating that the secured obligation remains unsatisfied or information that the security instrument has been assigned. (c) If a satisfaction agent receives information that the security instrument has been assigned, the satisfaction agent may not submit for recording an affidavit of satisfaction of the security...
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36-27-20
Section 36-27-20 Increase in maximum retirement allowance of certain state, etc., employees - 1971 five percent increase. (a) On or after October 1, 1971, there is hereby provided to any state employee who retired prior to October 1, 1971, an increase in his maximum retirement allowance by an amount of up to five percent, excluding that part of five percent provided by any other legislation in 1971. (b) On or after October 1, 1971, there is hereby provided to any employee who was retired prior to October 1, 1971, as an employee participating in the Employees' Retirement System of Alabama under the provisions of Section 36-27-6 an increase in his maximum retirement allowance by an amount of up to five percent, excluding that part of five percent provided by any other legislation in 1971. The employer participating under said Section 36-27-6 as described in this subsection shall provide the funds necessary to pay the increase in retirement allowances as described in this subsection. (c)...
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5-19-6
Section 5-19-6 Copies of instruments signed by debtors to be furnished to debtors; required statement in contracts, etc.; limitation on disclosure requirements; intent, applicability of limitation. (a) Any creditor, when extending credit with respect to a consumer credit transaction, other than under an open-end credit plan, shall at that time furnish to the debtor a copy of each instrument executed by the debtor in connection with the consumer credit transaction. The consumer credit transaction contract or note shall contain the following statement in eight point or larger type immediately above the space for the borrower's signature. "CAUTION - IT IS IMPORTANT THAT YOU THOROUGHLY READ THE CONTRACT BEFORE YOU SIGN IT." (b) No disclosures are required by this chapter to be made by a creditor with respect to any transaction other than disclosures required by regulations made by the administrator pursuant to Section 5-19-21 and disclosures required by subsection (a) above and by Sections...
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5-20-3
Section 5-20-3 Definitions. Notwithstanding any other provision of law, for the purposes of this chapter, the following terms shall have the meanings prescribed by this section: (1) ALABAMA BANK. A bank which is organized under the laws of this state or of the United States and which has its principal place of business in this state. (2) BANK. Any "insured bank" as such term is defined in Section 3(h) of the Federal Deposit Insurance Act, 12 U.S.C. §1813(h). (3) BANK HOLDING COMPANY. Any company which is a bank holding company under the Bank Holding Company Act of 1956, as amended, 12 U.S.C. §1841(a). (4) CREDIT CARD. Any type of arrangement or agreement pursuant to which any domestic lender or credit card bank, whether directly or indirectly through any domestic lender acting as its agent, gives a debtor the privilege of using a credit card or other credit confirmation, device or instrument of any type in transactions out of which debt arises: a. By the domestic lender or credit...
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6-5-248
Section 6-5-248 Who may redeem; priorities. (a) Where real estate, or any interest therein, is sold, it may be redeemed by: (1) Any debtor, including any surety or guarantor. (2) Any mortgagor, even if the mortgagor is not personally liable for payment of a debt. (3) Any junior mortgagee, or its transferee. (4) Judgment creditor, or its transferee. (5) Any transferee of the interests of the debtor or mortgagor, either before or after the sale. A transfer of any kind made by the debtor or mortgagor will accomplish a transfer of the interests of that party. (6) The respective spouses of all debtors, mortgagors, or transferees of any interest of the debtor or mortgagor, who are spouses on the day of the execution, judgment, or foreclosure sale. (7) Children, heirs, or devisees of any debtor or mortgagor. (b) All persons named or enumerated in subdivisions (a)(1) through (a)(7) may exercise the right of redemption granted by this article within 180 days from the date of the sale for...
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