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8-3-4
Section 8-3-4 Tender by surety discharges surety. The surety may tender to the creditor the
amount of his debt and demand that the evidence of and the securities for the same be delivered
up to him to be enforced against his principal or cosureties; and a failure of the creditor
to comply, when within his power, shall operate to discharge the surety. (Code 1907, §5387;
Code 1923, §9546; Code 1940, T. 9, §80.)...
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8-3-13
Section 8-3-13 Surety may require creditor to bring action against principal; discharge of
surety upon failure to bring action. (a) A surety upon any contract for the payment of money
or for the delivery or payment of personal property may require the creditor or anyone having
the beneficial interest in the contract, by notice in writing, to bring an action thereon
against the principal debtor or against any cosurety to such contract. (b) If an action is
not brought thereon in three months after the receipt of such notice and prosecuted with diligence
according to the ordinary course of law, the surety giving such notice is discharged from
all liability as surety or his aliquot proportion of the debt, as the case may be. (c) One
surety may give the notice in behalf of his cosureties. (d) The remedy secured by this section
does not apply to bonds or other contracts with collateral conditions, nor to the bonds of
executors, administrators, guardians, or public officers. (Code 1852,...
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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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45-36-252.06
Section 45-36-252.06 Bonds of the authority; obligations. (a) In addition to all other powers
now or hereafter granted by law, the authority shall have the following powers, together with
all powers incidental thereto or necessary to the discharge thereof in corporate form: (1)
To sell and issue bonds of the authority in order to provide funds for any corporate function,
use, or purpose, any such bonds to be payable solely out of one or more of the following:
a. Any or all proceeds or receipts from the privilege, license, or excise tax levied on the
sale, distribution, storage, use, or consumption of tobacco and certain tobacco products in
Jackson County by Section 45-36-247. b. Any or all proceeds from any tax received by the Jackson
County Commission which are required by law to be deposited to the credit of the Jackson County
Water Authority. c. The revenues derived from any water, sewer, or garbage system or facility
of the authority. (2) To pledge for payment of any bonds issued...
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8-3-14
Section 8-3-14 Provisions of chapter inure to benefit of personal representatives. All the
provisions of this chapter inure to the benefit of the personal representatives of the creditor
or surety and in favor of sureties and cosureties against the personal representatives of
the principal or of a surety. (Code 1852, §2649; Code 1867, §3076; Code 1876, §3416; Code
1886, §3155; Code 1896, §3886; Code 1907, §5398; Code 1923, §9557; Code 1940, T. 9, §91.)...
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35-12-71
Section 35-12-71 Definitions. As used in this article, unless the context otherwise requires,
the following terms shall have the meanings respectively ascribed to them by this section:
(1) APPARENT OWNER. A person whose name appears on the records of a holder as the person entitled
to property held, issued, or owing by the holder. (2) BUSINESS ASSOCIATION. A corporation,
joint stock company, investment company, partnership, unincorporated association, joint venture,
limited liability company, business trust, trust company, safe deposit company, financial
organization, insurance company, mutual fund, utility, or other business entity consisting
of one or more persons, whether or not for profit. (3) DOMICILE. The state of incorporation
of a corporation and the state of the principal place of business of a holder other than a
corporation. (4) FINANCIAL ORGANIZATION. A savings and loan association, building and loan
association, industrial loan organization, credit union, cooperative bank,...
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37-6-18
Section 37-6-18 Dissolution. (a) A cooperative which has not commenced business may dissolve
voluntarily by delivering to the Secretary of State articles of dissolution, executed and
acknowledged on behalf of the cooperative by a majority of the incorporators, which shall
state: (1) The name of the cooperative; (2) The address of its principal office; (3) The date
of its incorporation; (4) That the cooperative has not commenced business; (5) That the amount,
if any, actually paid in on account of membership fees, less any part thereof disbursed for
necessary expenses, has been returned to those entitled thereto and that all easements shall
have been released to the grantors; (6) That no debt of the cooperative remains unpaid; and
(7) That a majority of the incorporators elect that the cooperative be dissolved. Such articles
of dissolution shall be submitted to the Secretary of State for filing as provided in this
chapter. (b) A cooperative which has commenced business may dissolve...
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7-9A-102
Section 7-9A-102 Definitions and index of definitions. (a) Article 9A definitions. In this
article: (1) "Accession" means goods that are physically united with other goods
in such a manner that the identity of the original goods is not lost. (2) "Account,"
except as used in "account for," means a right to payment of a monetary obligation,
whether or not earned by performance, (i) for property that has been or is to be sold, leased,
licensed, assigned, or otherwise disposed of, (ii) for services rendered or to be rendered,
(iii) for a policy of insurance issued or to be issued, (iv) for a secondary obligation incurred
or to be incurred, (v) for energy provided or to be provided, (vi) for the use or hire of
a vessel under a charter or other contract, (vii) arising out of the use of a credit or charge
card or information contained on or for use with the card, or (viii) as winnings in a lottery
or other game of chance operated or sponsored by a State, governmental unit of a State, or...
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39-2-12
Section 39-2-12 Partial and final payments of contractors by awarding authorities. (a) As used
in this section the following words shall have the meanings ascribed to them as follows: (1)
CONTRACTOR. Any natural person, partnership, company, firm, corporation, association, limited
liability company, cooperative, or other legal entity licensed by the Alabama State Licensing
Board for General Contractors. (2) NONRESIDENT CONTRACTOR. A contractor which is neither a.
organized and existing under the laws of the State of Alabama, nor b. maintains its principal
place of business in the State of Alabama. A nonresident contractor which has maintained a
permanent branch office within the State of Alabama for at least five continuous years shall
not thereafter be deemed to be a nonresident contractor so long as the contractor continues
to maintain a branch office within Alabama. (3) RETAINAGE. That money belonging to the contractor
which has been retained by the awarding authority conditioned on...
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40-29-22
Section 40-29-22 Lien for taxes - Validity and priority against certain persons. (a) Purchasers,
holders of security interests, mechanic's lienors, and judgment lien creditors. The lien imposed
by Section 40-29-20 shall not be valid as against any purchaser, holder of a security interest,
mechanic's lienor, or judgment lien creditor until notice thereof which meets the requirements
of subsection (f) has been filed by the Commissioner of Revenue or his delegate, and shall
not be perfected as against any purchaser, holder of a security interest, mechanic's lienor,
or judgment lien creditor until the date such notice is filed. (b) Protection for certain
interest even though notice filed. Even though notice of a lien imposed by Section 40-29-20
has been filed, such lien shall not be valid: (1) SECURITIES. With respect to a security (as
defined in subsection (g)(4)): a. As against a purchaser of such security who at the time
of purchase did not have actual notice or knowledge of the...
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