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11-94-15
Section 11-94-15 Liability of authorizing subdivisions upon bonds, obligations and agreements
of authority; other actions by authorizing subdivisions to attain objectives of chapter. (a)
Neither of the authorizing subdivisions of an authority shall in any event be liable for the
payment of the principal of, interest and premium, if any, on any bonds of an authority or
for the performance of any pledge, assignment, indenture, obligation or agreement of any kind
whatsoever which may be undertaken by an authority and none of the bonds of an authority or
any of its agreements or obligations shall be construed to constitute an indebtedness of any
authorizing subdivision within the meaning of any constitutional or statutory provision whatsoever.
(b) For the purpose of attaining the objectives of this chapter, either of the authorizing
subdivisions, any other county or municipality of the state, and any other political subdivision,
public corporation, agency or instrumentality of the state or...
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11-97-2
Section 11-97-2 Definitions. The following words and phrases used in this chapter, and
others evidently intended as the equivalent thereof, shall, in the absence of a clear implication
herein otherwise, be given the following respective interpretations herein: (1) APPLICANT.
A natural person who files a written application with the governing body of any county or
municipality in accordance with the provisions of Section 11-97-3 hereof. (2) AUTHORIZING
RESOLUTION. A resolution of ordinance adopted by the governing body of any county or municipality
in accordance with the provisions of Section 11-97-3 hereof, that authorizes the incorporation
of a corporation. (3) BOARD. The board of directors of a corporation. (4) BONDS. Bonds, notes,
or other obligations representing an obligation to pay money. (5) CORPORATION. Any public
corporation organized pursuant to the provisions of this chapter. (6) COSTS. As applied to
a facility or any portion thereof, shall include all or any part of the...
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19-3A-102
Section 19-3A-102 Definitions. As used in this chapter, the following terms are defined
as follows: (1) ACCOUNTING PERIOD. A calendar year unless another 12-month period is selected
by a fiduciary. The term includes a portion of a calendar year or other 12-month period that
begins when an income interest begins or ends when an income interest ends. (2) BENEFICIARY.
Includes, in the case of a decedent's estate, an heir, legatee, and devisee and, in the case
of a trust, an income beneficiary and a remainder beneficiary. (3) FIDUCIARY. A personal representative
or a trustee. The term includes an executor, administrator, successor personal representative,
special administrator, and a person performing substantially the same function. (4) INCOME.
Money or property that a fiduciary receives as current return from a principal asset. The
term also includes a portion of receipts from a sale, exchange, or liquidation of a principal
asset, to the extent provided in Article 4. (5) INCOME...
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11-95-8
Section 11-95-8 Bonds of corporation - From what source payable; pledge of revenues;
execution; form, interest rate, maturity, sale, and negotiability; nature of obligation and
source of payment; investment eligibility. (a) All bonds issued by a corporation shall be
payable solely from one or more of the following sources as may be designated in the proceedings
of the board under which such bonds shall be authorized to be issued: (1) Hospital taxes;
and (2) Revenues from any hospital facilities owned or operated by it. (b) The principal of
and interest on any bonds issued by a corporation shall be secured by a pledge of the designated
revenues and may be secured by a trust indenture evidencing such pledge or by a non-foreclosable
mortgage and deed of trust conveying as security for such bonds all or any part of the property
of the corporation from which any part of the designated revenues so pledged may be derived.
The resolution of the board under which the bonds are authorized to be...
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15-18-142
Section 15-18-142 Definitions. Unless the context clearly requires otherwise or unless
different meanings are expressly specified in subsequent provisions of this article, wherever
used in this article, in the singular or plural case, the following terms shall mean: (1)
PERSON. a. A human being. b. A public or private corporation, an unincorporated association,
a partnership, or other entity established by law. c. A government or governmental instrumentality,
including, but not limited to the State of Alabama or any political subdivision thereof. (2)
RESTITUTION. An amount of money ordered by a court to be paid to a clerk or other person by
a defendant for the use and benefit of a victim of the defendant's criminal offense. (3) DEFENDANT.
A person, as defined, who has been ordered by a court to pay restitution. (4) CRIMINAL OFFENSE.
Conduct for which a sentence to a term of imprisonment, or the death penalty, or to a fine
is provided by any law of this state or by any law, local law,...
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27-41-34
Section 27-41-34 Particular investments - Real estate. (a)(1) An insurer may acquire,
invest in, own, maintain, alter, furnish, and improve the following real estate: a. Land and
buildings used for home office and branch office purposes, together with such other real estate
as is required for the convenient transaction of its business; and b. Funeral home buildings
used in the servicing of burial insurance policies. (2) An insurer may lease to others part
of the real property otherwise occupied by it for home office and other purposes under paragraphs
a. and b. of subdivision (1) of this subsection, except that the value of the parts so leased
must be included in subdivision (2) of subsection (b) of this section. (3) Except as
provided in subsection (e) of this section, an insurer may not carry, as an admitted
asset, real estate acquired under this subsection following 10 years from the date when such
real estate ceases to be necessary for the convenient accommodation of the insurer in...
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34-24-531
Section 34-24-531 Powers and duties of the interstate commission. The interstate commission
shall have the duty and power to do all of the following: (a) Oversee and maintain the administration
of the compact. (b) Promulgate rules which shall be binding to the extent and in the manner
provided for in the compact. (c) Issue, upon the request of a member state or member board,
advisory opinions concerning the meaning or interpretation of the compact, its bylaws, rules,
and actions. (d) Enforce compliance with compact provisions, the rules promulgated by the
interstate commission, and the bylaws, using all necessary and proper means, including, but
not limited to, the use of judicial process. (e) Establish and appoint committees including,
but not limited to, an executive committee as required by Section 34-24-530, which
shall have the power to act on behalf of the interstate commission in carrying out its powers
and duties. (f) Pay, or provide for the payment of the expenses related to...
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40-14A-1
Section 40-14A-1 Definitions. For purposes of this chapter, the following terms shall
mean: (a) ALABAMA S CORPORATION. An S corporation defined under Section 40-18-160.
(b) C CORPORATION. A corporation other than an Alabama S corporation. (c) CODE. The Internal
Revenue Code of 1986, as amended from time to time. (d) CORPORATION. An entity, including
a limited liability company electing to be taxed as a corporation for federal income tax purposes,
through which business can be conducted while offering limited liability to the owners of
the entity with respect to some or all of the obligations of the entity, other than a limited
liability entity or a disregarded entity. The term "corporation" shall include but
not be limited to the following: Corporations, professional corporations, joint stock companies,
unincorporated professional associations, real estate investment trusts, limited liability
companies electing to be taxed as corporations for federal income tax purposes, and all...
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45-37-123.22
Section 45-37-123.22 Powers and duties of the pension board. (a) The pension board shall
be responsible for the general administration and proper operation of the plan, and shall
administer the plan for the exclusive benefit of the members and their beneficiaries, subject
to the specific terms of the plan. The pension board shall administer the plan in accordance
with its terms and shall have the power and discretion to construe the terms of the plan and
the act and to determine all questions arising in connection with the administration, interpretation,
and application of the plan. Any such determination by the pension board shall be conclusive
and binding upon all persons. The pension board may establish procedures, correct any defect,
supply any information, or reconcile any inconsistency in such manner and to such extent as
shall be deemed necessary or advisable to carry out the purpose of the plan; provided, however,
that any procedure, discretionary act, interpretation, or...
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45-37A-51.137
Section 45-37A-51.137 The fund and its investment. (a) In each instance in which any
provision of this section requires a determination of the value of a security, or securities,
in the fund, the fair market value of such security or securities as determined by pricing
sources acceptable to the custodian, shall be deemed to be the value thereof. (b) The fund
shall include all assets of the fund in any form, and the city director of finance shall be,
ex officio, the custodian of the fund. The custodian shall keep a separate account of the
fund and of all assets and liabilities thereof and of all receipts and disbursements thereof
and of all prior service time and paid membership time of employee members. The custodian
shall keep all monies of the fund in a separate bank account. The custodian shall keep in
force and effect a bond in a penal amount equal to the total amount of monies and securities
in such custodian's custody or possession, but in no event in excess of fifty thousand...
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