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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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7-9A-604
Section 7-9A-604 Procedure if security agreement covers real property or fixtures. (a) Enforcement:
Personal and real property. If a security agreement covers both personal and real property,
a secured party may proceed: (1) under this part as to the personal property without prejudicing
any rights with respect to the real property; or (2) as to both the personal property and
the real property in accordance with the rights with respect to the real property, in which
case the other provisions of this part do not apply. (b) Enforcement: Fixtures. Subject to
subsection (c), if a security agreement covers goods that are or become fixtures, a secured
party may proceed: (1) under this part; or (2) in accordance with the rights with respect
to real property, in which case the other provisions of this part do not apply. (c) Removal
of fixtures. Subject to the other provisions of this part, if a secured party holding a security
interest in fixtures has priority over all owners and encumbrancers...
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10A-8A-1.02
Section 10A-8A-1.02 Definitions. Notwithstanding Section 10A-1-1.03, as used in this chapter,
unless the context otherwise requires, the following terms mean: (1) "Business"
includes every trade, occupation, and profession for profit. (2) "Disqualified person"
means any person who is not a qualified person. (3) "Distribution" except as otherwise
provided in Section 10A-8A-4.09(f), means a transfer of money or other property from a partnership
to another person on account of a transferable interest. (4) "Foreign limited liability
partnership" means a foreign partnership whose partners have limited liability for the
debts, obligations, or other liabilities of the foreign partnership under a provision similar
to Section 10A-8A-3.06(c). (5) "Foreign partnership" means a partnership governed
by the laws of a jurisdiction other than this state which would be a partnership if governed
by the laws of this state. The term includes a foreign limited liability partnership. (6)
"Limited liability...
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24-9-7
Section 24-9-7 Disposition of tax delinquent properties. (a) The authority shall adopt rules
and regulations for the disposition of property in which the authority holds a legal interest,
which rules and regulations shall address the conditions set forth in this section. (b) The
authority may manage, maintain, protect, rent, repair, insure, alter, convey, sell, transfer,
exchange, lease as lessor, or otherwise dispose of property or rights or interests in property
in which the authority holds a legal interest to any public or private person for value determined
by the authority on terms and conditions, and in a manner and for an amount of consideration
the authority considers proper, fair, and valuable, including for no monetary consideration.
The transfer and use of property under this section and the exercise by the authority of powers
and duties under Act 2013-249 shall be considered a necessary public purpose and for the benefit
of the public. (c) Before the authority may sell,...
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33-5-3
Section 33-5-3 Definitions. As used in this article, the following terms shall have the meanings
respectively ascribed to them in this section, unless the context clearly requires a different
meaning: (1) VESSEL. Every description of watercraft, other than a seaplane, capable of being
used as a means of transportation on the water, but such term shall not include vessels 12
feet in length or less when used solely on farm ponds of less than 50 acres in size. (2) WATERS
OF THIS STATE. Any waters within the territorial limits of this state and the marginal sea
adjacent to this state and the high seas when navigated as a part of a journey or ride to
and from the shore of this state; provided, however, that "waters of this state"
shall not be interpreted to mean any private pond which is not used for boat rentals or the
charging of fees for fishing therein. (3) OWNER. A person, other than a lienholder, having
the property in or title to a vessel. The term includes a person entitled to the...
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35-8A-103
Section 35-8A-103 Definitions. In the declaration and bylaws, unless specifically provided
otherwise or the context otherwise requires, and in this chapter, the following terms are
defined as set forth below: (1) AFFILIATE OF A DECLARANT. Any person who controls, is controlled
by, or is under common control with a declarant. A person "controls" a declarant
if the person (i) is a general partner, officer, director, or employer of the declarant, (ii)
directly or indirectly or acting in concert with one or more other persons, or through one
or more subsidiaries, owns, controls, holds with power to vote, or holds proxies representing
more than 20 percent of the voting interest in the declarant, (iii) controls in any manner
the election of a majority of the directors of the declarant, or (iv) has contributed more
than 20 percent of the capital of the declarant. A person "is controlled by" a declarant
if the declarant (i) is a general partner, officer, director, or employer of the person,...
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36-25-5
Section 36-25-5 Use of official position or office for personal gain. (a) No public official
or public employee shall use or cause to be used his or her official position or office to
obtain personal gain for himself or herself, or family member of the public employee or family
member of the public official, or any business with which the person is associated unless
the use and gain are otherwise specifically authorized by law. Personal gain is achieved when
the public official, public employee, or a family member thereof receives, obtains, exerts
control over, or otherwise converts to personal use the object constituting such personal
gain. (b) Unless prohibited by the Constitution of Alabama of 1901, nothing herein shall be
construed to prohibit a public official from introducing bills, ordinances, resolutions, or
other legislative matters, serving on committees, or making statements or taking action in
the exercise of his or her duties as a public official. A member of a legislative...
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5-19-17
Section 5-19-17 Inducing obligation on more than one contract in order to obtain higher finance
charge prohibited; consolidation of existing precomputed consumer credit transaction contract
and subsequent precomputed consumer credit transaction. (a) No creditor shall induce or permit
any person or any husband and wife, jointly or severally, to become obligated directly or
contingently, or both, on more than one consumer credit transaction at the same time for the
purpose of obtaining a higher finance charge than would otherwise be permitted by Section
5-19-3. This subsection shall not apply to the maintenance of two or more separate consumer
credit transactions where the consumer credit transactions were created on different dates.
(b) It shall be unlawful for any seller to evade or attempt to evade this section by inducing
a buyer to become obligated to another creditor in which the initial creditor has a pecuniary
interest or with whom the initial creditor has an arrangement for...
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7-8-313
Section 7-8-313 (Effective Until January 1, 1997) When delivery to the purchaser occurs; purchaser's
broker as holder. (1) Delivery to a purchaser occurs when: (a) He or a person designated by
him acquires possession of a security; or (b) His broker acquires possession of a security
specially indorsed to or issued in the name of the purchaser; or (c) His broker sends him
confirmation of the purchase and also by book entry or otherwise identifies a specific security
in the broker's possession as belonging to the purchaser; or (d) With respect to an identified
security to be delivered while still in the possession of a third person when that person
acknowledges that he holds for the purchaser; or (e) Appropriate entries on the books of a
clearing corporation are made under Section 7-8-320. (2) The purchaser is the owner of a security
held for him by his broker, but is not the holder except as specified in subparagraphs (b),
(c) and (e) of subsection (1). Where a security is part of a...
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10A-8A-5.02
Section 10A-8A-5.02 Transfer of partner's transferable interest. (a) A transfer, in whole or
in part, of a partner's transferable interest: (1) is permissible; (2) does not by itself
cause the partner's dissociation; (3) does not by itself cause a dissolution and winding up
of the partnership; and (4) subject to Section 10A-8A-5.05, does not entitle the transferee
to: (A) participate in the management or conduct of the partnership's business or not for
profit activity; or (B) except as otherwise provided in subsection (d), have access to required
information, records, or other information concerning the partnership's business or not for
profit activity. (b) A transferee has a right: (1) to receive, in accordance with the transfer,
distributions to which the transferor would otherwise be entitled; (2) to receive upon the
dissolution and winding up of the partnership, in accordance with the transfer, the net amount
otherwise distributable to the transferor; and (3) to seek under Section...
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