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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 THIS SECTION WAS REPEALED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...
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10A-20-7.04
Section 10A-20-7.04 Powers of corporation. In furtherance of its purposes and in addition
to the powers now or hereafter conferred on business corporations by Alabama statutes, the
corporation shall, subject to the restrictions and limitations contained in this section,
have the following powers: (1) To elect, appoint, and employ officers, agents, and employees
to make contracts and incur liabilities for any of the purposes of the corporation; provided,
that the corporation shall not incur any secondary liability by way of guaranty or endorsement
of the obligations of any person, firm, corporation, joint stock company, association, or
trust or in any other manner. (2) To borrow money from its members and the small business
administration and any other similar federal agency for any of the purposes of the corporation,
to issue therefor its bonds, debentures, notes, or other evidences of indebtedness, whether
secured or unsecured, and to secure the same by mortgage, pledge, deed of...
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11-89A-2
Section 11-89A-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 11-89A-3. (2) AUTHORITY.
Any public corporation organized pursuant to the provisions of this chapter. (3) AUTHORIZING
RESOLUTION. A resolution or ordinance adopted by the governing body of any county or municipality
in accordance with the provisions of Section 11-89A-3, that authorizes the incorporation
of an authority. (4) BOARD. The board of directors of an authority. (5) BONDS. Bonds, notes,
or other obligations representing an obligation to pay money. (6) COSTS. As applied to a facility
or any portion thereof, such term shall include all or any part of the cost of...
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19-3C-3
Section 19-3C-3 Standard of conduct in managing and investing institutional funds. (a)
Subject to the intent of a donor expressed in a gift instrument, an institution, in managing
and investing an institutional fund, shall consider the charitable purposes of the institution
and the purposes of the institutional fund. (b) In addition to complying with the duty of
loyalty imposed by law other than this chapter, each person responsible for managing and investing
an institutional fund shall manage and invest the fund in good faith and with the care an
ordinarily prudent person in a like position would exercise under similar circumstances. (c)
In managing and investing an institutional fund, an institution: (1) may incur costs that
are appropriate and reasonable in relation to the assets, the purposes of the institution,
and the skills available to the institution; and (2) shall make a reasonable effort to verify
facts relevant to the management and investment of the fund. (d) An...
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44-1-91
Section 44-1-91 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER. THIS SECTION
HAS NOT BEEN CODIFIED BY THE LEGISLATURE. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. As used
in this article, the following terms shall have the following meanings: (1) CAPITAL OUTLAY
PROJECTS or CAPITAL IMPROVEMENT PURPOSES. The planning, construction, reconstruction, enlargement,
improvement, repair, or renovation of Department of Youth Services facilities; the acquisition
or purchase of facilities for use of the Department of Youth Services; the acquisition or
purchase of land for Department of Youth Services facilities; and the acquisition or purchase
of equipment. (2) DEPARTMENT. The Alabama Department of Youth Services or any other department
or agency of the state that, by law, shall succeed to its functions and responsibilities.
(3) FUND. The Department of Youth Services Capital Improvement Trust Fund. (4) LAND or LANDS.
Real property and any interests therein. (5) STATE. The State of Alabama. (6)...
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26-2A-152
Section 26-2A-152 Powers of conservator in administration. (a) Subject to limitation
provided in Section 26-2A-154, a conservator shall have all of the powers conferred
in this section and any additional powers now or hereafter conferred by law on trustees
in this state. In addition, a conservator of the estate of an unmarried minor as to whom no
one has parental rights, has the powers of a guardian of a minor described in Section
26-2A-78 until the minor attains the age of 19 years, or the disabilities of nonage have been
removed, but the parental rights so conferred on a conservator do not preclude appointment
of a guardian as provided in Division 1 of this article. (b) A conservator without court authorization
or confirmation may invest and reinvest funds of the estate as would a trustee. (c) A conservator,
acting as a fiduciary in efforts to accomplish the purpose of the appointment, may act without
court authorization or confirmation, to (1) Collect, hold, and retain assets of the...
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38-14-1
Section 38-14-1 Definitions. As used in this chapter, the following terms shall have
the following meanings: (1) DEPARTMENT. The Department of Human Resources. (2) ELIGIBLE INDIVIDUAL
or FAMILY MEMBER. A person whose household income is equal to or less than 80 percent of the
median household income for the state or less than 200 percent of the federal poverty guidelines,
whichever is greater. (3) EMERGENCY. Payments for necessary medical expenses of the account
owner or family member, expenses to avoid the eviction of the account owner from the account
owner's primary residence, and for necessary living expenses following a loss of income (4)
FIDUCIARY ORGANIZATION. Any nonprofit, fund-raising organization that is exempt from taxation
under Section 501(c)(3) of the Internal Revenue Code, as amended; any certified community
development financial institution; any credit union chartered under federal or state law;
or any Indian tribe as defined in Section 4(12) of the Native American...
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41-10-425
Section 41-10-425 Powers of the authority. The authority shall have the following powers
among others specified in this article: (1) To have succession by its corporate names until
dissolved as provided in this article; (2) To institute or maintain legal proceedings in any
court of competent jurisdiction to enforce its contractual, statutory and other rights; (3)
To have and to use a corporate seal and to alter the same at pleasure; (4) To make and alter
all needful bylaws, rules and regulations for transaction of the authority's business and
the control of its property affairs; (5) The authority may, from time to time, borrow an amount
not to exceed $400,000.00, as may be needed, to acquire, hold title to real property, to prepare
and construct facilities and to sell, convey, lease, leaseback or rent and maintain that certain
property located in the City of Montgomery, Montgomery County, Alabama, which is owned by
and in the name and interest of the State of Alabama and the Real...
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43-8-1
Section 43-8-1 General definitions. Subject to additional definitions contained in the
subsequent articles which are applicable to specific articles or divisions, and unless the
context otherwise requires, in this chapter, the following words shall have the following
meanings: (1) BENEFICIARY. As it relates to trust beneficiaries, includes a person who has
any present or future interest, vested or contingent, and also includes the owner of an interest
by assignment or other transfer and as it relates to a charitable trust, includes any person
entitled to enforce the trust. (2) CHILD. Includes any individual entitled to take as a child
under this chapter by intestate succession from the parent whose relationship is involved
and excludes any person who is only a stepchild, a foster child, a grandchild or any more
remote descendant. (3) COURT. The court having jurisdiction in matters relating to the affairs
of decedents. This court in Alabama is known as the probate court. (4) DAYS. That...
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45-39-221.03
Section 45-39-221.03 Powers of tourism board. (a) The tourism board may conduct programs
and events, including, but not limited to, programs of information and publicity, sporting
events, and other public events to attract tourists and visitors to the county. The tourism
board may conduct programs or events in the state and elsewhere and expend its funds in the
furtherance of such programs and events in the state and elsewhere. (b) The tourism board
may enter into contracts with any person, firm, corporation, or association to carry out the
purposes set forth herein. No contract entered into by the tourism board shall bind either
the state, the county, or any municipality. (c) The tourism board shall have the following
additional powers, together with all powers incidental thereto or necessary to the discharge
thereof in corporate form: (1) To sue and be sued in its own name in civil suits and actions,
and to defend suits and actions against it, including suits and actions ex delicto...
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