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7-9A-314
Section 7-9A-314 Perfection by control. (a) Perfection by control. A security interest in investment
property, deposit accounts, letter-of-credit rights, electronic chattel paper, or electronic
documents may be perfected by control of the collateral under Section 7-7-106, 7-9A-104, 7-9A-105,
7-9A-106, or 7-9A-107. (b) Specified collateral: Time of perfection by control; continuation
of perfection. A security interest in deposit accounts, electronic chattel paper, letter-of-credit
rights, or electronic documents is perfected by control under Section 7-7-106, 7-9A-104, 7-9A-105,
or 7-9A-107 when the secured party obtains control and remains perfected by control only while
the secured party retains control. (c) Investment property: Time of perfection by control;
continuation of perfection. A security interest in investment property is perfected by control
under Section 7-9A-106 from the time the secured party obtains control and remains perfected
by control until: (1) the secured party...
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8-23-3
Section 8-23-3 Registration of health studio sales persons; resident agent; security bond.
(a) Each person who sells health studio services in this state shall register with the Attorney
General's Consumer Protection Division on forms the division provides. The person shall furnish
the full name and address of each business location where health studio services are sold
as well as any other registration information the division deems appropriate. (b) There shall
be one registered agent representing each seller of health studio services in the county where
a studio is located and shall serve as a resident agent for receipt of service of process.
(c) The division may bring an action for mandamus against a health studio to require the club
to register or to have and maintain the surety required by this section. (d) Every health
studio which sells contracts for health studio services to be rendered at a planned health
studio or a health studio under construction shall purchase a security...
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22-6-223
Section 22-6-223 Solvency and financial requirements. (a) An integrated care network shall
meet minimum solvency and financial requirements as provided by the Medicaid Agency. The Medicaid
Agency shall require the integrated care network, as a condition of certification or continued
certification, to maintain minimum solvency and financial reserves. The Medicaid Agency shall
hereafter promulgate rules setting forth requirements for minimum solvency, financial reserves,
and other financial requirements of an integrated care network based on the number of integrated
care networks that may be certified and based on actuarial soundness as determined by the
Medicaid Agency. The Medicaid Agency shall allow for the requirements to be met through the
submission of an irrevocable letter of credit in an amount equal to the financial reserves
that would otherwise be required of the integrated care network, to guarantee the performance
of the provisions of the risk contract. If an irrevocable...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-6-223.htm - 1K - Match Info - Similar pages
2-2-71
Section 2-2-71 Substitution of bond equivalent; forms. (a) Whenever there is a requirement
under law to obtain any permit or license issued by the Commissioner of Agriculture and Industries,
the Board of Agriculture and Industries or the Department of Agriculture and Industries that
the permittee or licensee be bonded, the licensee or permittee may substitute in lieu of the
bond a bond equivalent. (b) The bond equivalent shall be in the form of a trust fund agreement
based upon cash, fully negotiable bonds of the U.S. Government or of the State of Alabama,
or an irrevocable letter of credit. (c) The Commissioner of Agriculture and Industries shall
furnish all necessary forms to be used for the issuance of the bond or bond equivalent. (Acts
1989, No. 89-692, p. 1364, §2.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/2-2-71.htm - 1K - Match Info - Similar pages
5-17-54
Section 5-17-54 Bond of Alabama Credit Union Administration employees. Before entering upon
the duties of their respective offices, the administrator shall cause the Division of Risk
Management of the Department of Finance or its successor agency to include each employee of
the Alabama Credit Union Administration under a bond to be fixed and approved by the administrator,
for the faithful performance of their duties. (Acts 1985, No. 85-457, p. 425, §31; Act 2016-133,
§1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-17-54.htm - 787 bytes - Match Info - Similar pages
27-17A-11.1
Section 27-17A-11.1 Report of preneed contract activity; written logs. (a) On a semi-annual
basis, within 45 days after the end of each second calendar reporting period, the certificate
holder shall file a report of its preneed contract activity on a form or in a format prescribed
by the commissioner. The information reported shall include the total number of preneed contracts
in force at the end of the previous reporting period, the total number of preneed contracts
sold during the reporting period, the total number of preneed contracts fulfilled during the
reporting period, the total number of preneed contracts in force at the end of the reporting
period, and such other information as may be required by the commissioner. The report shall
be organized by type of funding including, life insurance, trust, letter of credit, or surety
bond. The report shall also provide a certification by the trustee of the amount of assets
held by the trust at the beginning of the reporting period and at...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-17A-11.1.htm - 2K - Match Info - Similar pages
32-20-24
Section 32-20-24 Acceptance of application where ownership of manufactured home in question.
If the department is not satisfied as to the ownership of the manufactured home or that there
are no undisclosed security interests in it, the department may accept the application but
shall do either of the following: (1) Withhold issuance of a certificate of title until the
applicant presents documents reasonably sufficient to satisfy the department as to the applicant's
ownership of the manufactured home and that there are no undisclosed security interests on
it. (2) As a condition of issuing a certificate of title or certificate of cancellation, require
the applicant to file with the department a bond in a form prescribed by the department and
executed by the applicant, and either accompanied by the deposit of cash with the department
or also executed by a person authorized to conduct a surety business in this state. The bond
shall be in an amount equal to fifty thousand dollars ($50,000)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/32-20-24.htm - 2K - Match Info - Similar pages
7-2-325
Section 7-2-325 "Letter of credit" term; "confirmed credit." (1) Failure
of the buyer seasonably to furnish an agreed letter of credit is a breach of the contract
for sale. (2) The delivery to seller of a proper letter of credit suspends the buyer's obligation
to pay. If the letter of credit is dishonored, the seller may on seasonable notification to
the buyer require payment directly from him. (3) Unless otherwise agreed the term "letter
of credit" or "banker's credit" in a contract for sale means an irrevocable
credit issued by a financing agency of good repute and, where the shipment is overseas, of
good international repute. The term "confirmed credit" means that the credit must
also carry the direct obligation of such an agency which does business in the seller's financial
market. (Acts 1965, No. 549, p. 811.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-2-325.htm - 1K - Match Info - Similar pages
7-5-108
Section 7-5-108 Issuer's rights and obligations. (a) Except as otherwise provided in Section
7-5-109, an issuer shall honor a presentation that, as determined by the standard practice
referred to in subsection (e), appears on its face strictly to comply with the terms and conditions
of the letter of credit. Except as otherwise provided in Section 7-5-113 and unless otherwise
agreed with the applicant, an issuer shall dishonor a presentation that does not appear so
to comply. (b) An issuer has a reasonable time after presentation, but not beyond the end
of the seventh business day of the issuer after the day of its receipt of documents: (1) to
honor, (2) if the letter of credit provides for honor to be completed more than seven business
days after presentation, to accept a draft or incur a deferred obligation, or (3) to give
notice to the presenter of discrepancies in the presentation. (c) Except as otherwise provided
in subsection (d), an issuer is precluded from asserting as a basis...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-5-108.htm - 3K - Match Info - Similar pages
2-15-61
Section 2-15-61 Permits required for operation of livestock markets; applications; issuance;
revocation; appeals. (a) No person shall operate a livestock market in the State of Alabama
without first having obtained from the commissioner, as required by this division, an annual
permit therefor. (b) The application for such a permit shall be made upon forms furnished
by the department, which shall be verified by affidavit of the applicant which shall include
all of the following information: (1) The name and address of the applicant or applicants
and, if a corporation, its officers, and if a partnership, the names and addresses of its
partners. (2) The place where applicant proposes to operate a livestock market. (3) A description
of the property and facilities proposed to be used as a livestock market. (4) The kind of
livestock the applicant proposes to handle at the livestock market and the day or days of
the week the applicant proposes to conduct sales. (5) A financial statement of...
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