41-29-2
Section 41-29-2 Powers, duties, and functions of Department of Commerce. (a) The Department of Commerce shall be the principal staff agency of the executive branch to plan with the other departments of state government and with other governmental units for the comprehensive development of the state's human, economic and physical resources and their relevance for programs administered by the state and the governmental structure required to put such programs into effect. It shall provide information, assistance and staff support by all appropriate means. The Department of Commerce shall perform all the duties and exercise all the powers and authority relative to state regional and local planning and industrial development heretofore vested in the Alabama Development Office. All books, records, supplies, funds, equipment, and personnel of the Alabama Development Office are also hereby transferred to the Department of Commerce. (b) All of the powers and authority heretofore vested in the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-29-2.htm - 4K - Match Info - Similar pages
7-9-302
Section 7-9-302 When filing is required to perfect security interest; security interests to which filing provisions of this article do not apply. THIS SECTION WAS REPEALED IN THE 2001 REGULAR SESSION, BY ACT 2001-481, EFFECTIVE JAN. 1, 2002. (1) A financing statement must be filed to perfect all security interests except the following: (a) A security interest in collateral in possession of the secured party under Section 7-9-305; (b) A security interest temporarily perfected in instruments, certificated securities, or documents without delivery under Section 7-9-304 or in proceeds for a 20-day period under Section 7-9-306; (c) A security interest created by an assignment of a beneficial interest in a trust or a decedent's estate; (d) A purchase money security interest in consumer goods; but filing is required for a motor vehicle required to be registered; and fixture filing is required for priority over conflicting interests in fixtures to the extent provided in Section 7-9-313; (e) An...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-9-302.htm - 5K - Match Info - Similar pages
11-101A-14
Section 11-101A-14 Securities payable out of revenues from projects, properties, etc., indenture may contain agreements; liens. (a) Securities issued by an authority shall not be general obligations of the authority but shall be payable solely out of the revenues from any project or other properties or assets, including, without limitation, proceeds from the securities, investment income and insurance, and condemnation proceeds, owned by it, all as may be provided or specified in the resolution of the board authorizing the securities or the indenture under which issued. The principal of and interest, and premium, if any, on any securities issued by the authority shall be secured by a pledge of the revenues out of which the same are payable and may be secured by an indenture conveying as security for the securities all or any part of its property, which indenture may be subject to foreclosure. (b) Any indenture executed on behalf of the authority and any resolution of the board...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-101A-14.htm - 4K - Match Info - Similar pages
11-101A-2
Section 11-101A-2 Definitions. As used in this chapter, the following terms shall have the following meanings, respectively, unless the context clearly indicates otherwise: (1) APPLICANT. A natural person who files a written application with the governing body of a county or municipality, or two or more thereof, in accordance with Section 11-101A-3. (2) AUTHORITY. A public corporation organized pursuant to this chapter. (3) AUTHORIZING RESOLUTION. A resolution adopted by the governing body of an authorizing subdivision in accordance with Section 11-101A-3, that authorizes the incorporation of an authority under this chapter. (4) AUTHORIZING SUBDIVISION. Each county and municipality with the governing body of which an application for the incorporation of an authority under this chapter is filed. (5) BOARD. The board of directors of an authority. (6) BONDS. Any bonds authorized to be issued by an authority hereunder, including refunding bonds. (7) CODE. The Code of Alabama 1975. (8)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-101A-2.htm - 3K - Match Info - Similar pages
33-2-189
Section 33-2-189 Docks facilities revenue bonds and refunding bonds - Disposition of proceeds of docks facilities revenue bonds. The department shall pay out of the proceeds from the sale of any of the docks facilities revenue bonds all expenses that the director may deem necessary or advantageous in connection with the sale and issuance of such docks facilities revenue bonds (including any discount reflected in the purchase price thereof paid to the department), including fees and disbursements of attorneys, accountants, financial advisors, consulting engineers, and other consultants, fees and disbursements of trustees and escrow agents, bond insurance premiums, printing costs, and other customary bond issuance expenses. Proceeds of any of the docks facilities revenue bonds may also be applied to pay the costs of any surety bonds or bonds that the department may cause to be deposited in a reserve account to further secure the payment of principal of, premium, if any, and interest on...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/33-2-189.htm - 3K - Match Info - Similar pages
40-14B-1
Section 40-14B-1 Definitions. As used in this chapter, the following terms shall have the following meanings: (1) AFFILIATE. An affiliate of another person shall include any of the following: a. A person who directly or indirectly either: 1. Beneficially owns 15 percent or more of the outstanding voting securities or other voting ownership interests of the other person, whether through rights, options, convertible interests, or otherwise; or 2. Controls or holds power to vote 15 percent or more of the outstanding voting securities or other voting ownership interests of the other person. b. A person owning 15 percent or more of the outstanding voting securities or other voting ownership interests of which are directly or indirectly either: 1. Beneficially owned by the other person, whether through rights, options, convertible interests, or otherwise; or 2. Controlled or held with power to vote by the other person. c. A partnership or limited liability company in which the other person...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-14B-1.htm - 7K - Match Info - Similar pages
41-14A-2
Section 41-14A-2 Definitions. As used in this chapter, the following words and terms shall have the following meanings: (1) AVERAGE MONTHLY BALANCE OF PUBLIC DEPOSITS. The sum of the average daily balances of public deposits, meaning the net average daily balances of public deposits determined without any deduction for deposit insurance, for the reported month and the 11 months preceding that month, divided by 12. (2) BOARD OF DIRECTORS or BOARD. The Board of Directors of the SAFE Program established under Section 41-14A-6. The board of directors shall consist of eight members. (3) COLLATERAL-PLEDGING LEVEL or COLLATERAL-PLEDGING REQUIREMENT. The percentage or percentages of collateral, in relation to one or more levels of public deposits held, required to be pledged by a qualified public depository as determined in accordance with the provisions of this chapter or rules or orders of the board adopted pursuant to this chapter. (4) COVERED PUBLIC ENTITY. The state and its political...
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5-5A-23
Section 5-5A-23 Investments and loans with respect to housing. (a) Banks, insurance companies and savings and loan associations are authorized: (1) To make such loans and advances of credit and purchases of obligations representing loans and advances of credit as are eligible for insurance and to obtain such insurance; and (2) To make such loans secured by real property or leasehold as the Federal Housing Administrator insures or makes a commitment to insure and to obtain such insurance. (b) It shall be lawful for banks, insurance companies or savings and loan associations to purchase, invest in and dispose of bonds or notes secured by mortgages issued by the Federal Housing Administrator and in securities issued by national mortgage associations. (c) No law of this state requiring security upon which loans or investments may be made, or prescribing or limiting interest rates upon loans or investments, or prescribing or limiting the period for which loans or investments may be made...
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10A-1-7.35
Section 10A-1-7.35 Out of state business or property of foreign entity not subject to control or regulation. (a) The public interest lying in the promotion of business and industry in this state, it is the intent of the Legislature and declared to be the policy of the State of Alabama by passage of this section to promote and encourage industry and business in Alabama and specifically to induce the location within this state of the principal administrative office, principal distribution or manufacturing plant or principal place of business of foreign entities engaged in manufacturing, industrial, commercial, business, transportation, utility, public service, and research enterprises. This section shall be liberally construed in conformity with this intention. (b) When a foreign entity that transacts only a portion of its business in this state has located, or is in the process of locating, its principal administrative office, its principal distribution or manufacturing plant or its...
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11-54-125
Section 11-54-125 Definitions. As used in this division, the following terms shall have the following meanings: (1) AUTHORIZING RESOLUTION. A resolution adopted by the directors and authorizing the execution and delivery of a trust agreement. (2) DIRECTORS. The board of directors of an industrial development board. (3) ENDOWMENT TRUST FUND or FUND. A trust fund created by an industrial development board pursuant to this division. (4) FUND MANAGER. Any individual, partnership, corporation, or other person, including, without limitation, a trustee bank, employed to manage and invest moneys held in and forming a part of an endowment trust fund and other contributions to such fund. (5) INDUSTRIAL DEVELOPMENT BOARD or BOARD. A public corporation now in existence or hereafter organized pursuant to the provisions of either industrial development board act. (6) INDUSTRIAL DEVELOPMENT BOARD ACT. Act 648, 1949 Regular Session, as amended, and Division 1 and Division 2 of this article, as...
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