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11-50-172
Section 11-50-172 Provision by transferor for payment of outstanding bonds, mortgages,
indentures, etc. If there are outstanding any bonds, mortgages, indentures, resolutions, or
other obligations, including revenue bonds or other securities, payable from or secured by
a pledge of the revenues or earnings of or constituting a lien upon the water system or systems
proposed to be transferred and conveyed under the provisions of this article, the public corporation
proposing to make such transfer and conveyance: (1) Shall make provision for the assumption
by the transferee public corporation of the due and prompt payment of the principal of and
interest on such bonds or other obligations and the due and prompt performance of all other
agreements and conditions in the manner authorized by such outstanding bonds, mortgages, indentures,
resolutions, or other obligations, or (2) In the absence of any such authorization or, at
the election of the transferor and transferee public corporations,...
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19-4-20
Section 19-4-20 Definitions. When used in this article, the following words and phrases
shall have the following meanings, respectively, unless the context clearly indicates otherwise:
(1) FIDUCIARY. An administrator, an administrator with the will annexed, an administrator
de bonis non, an executor, a trustee, a guardian, a conservator, an agent or a custodian.
(2) FIDUCIARY ACCOUNT. An estate, a trust, a guardianship, a custodianship, an agency or any
other fiduciary relationship, including a custodianship or agency for another fiduciary or
fiduciaries. (3) BANK. A bank or trust company organized and existing under the laws of Alabama
with authority to act as a fiduciary and a national banking association with its principal
office in the State of Alabama and with authority to act as a fiduciary. (4) SECURITY. Any
note; stock; treasury stock; bond; debenture; evidence of indebtedness; certificate of interest
or participation in an oil, gas or mining title or lease or in payments out...
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26-2A-20
Section 26-2A-20 General definitions. As used in this chapter the following terms shall
have the following meanings, respectively, unless the context clearly indicates otherwise:
(1) CLAIMS. In respect of a protected person, includes liabilities of the protected person,
whether arising in contract, tort, or otherwise, and liabilities of the estate which arise
at or after the appointment of a conservator, including expenses of administration. (2) CONSERVATOR.
A person who is appointed by a court to manage the estate of a protected person and includes
a limited conservator described in Section 26-2A-148(a). (3) COURT. A probate court
of this state. (4) COURT REPRESENTATIVE. A person appointed in a guardianship or protective
proceeding who is trained in law, nursing, or social work, is an officer, employee, or special
appointee of the court, and has no personal interest in the proceeding. (5) DISABILITY. Cause
for a protective order as described in Section 26-2A-130. (6) ESTATE. Includes...
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35-12-77
Section 35-12-77 Payment or delivery of abandoned property. (a) Except for property
held in a safe deposit box or other safekeeping depository, upon filing the report required
in Section 35-12-76, the holder of property presumed abandoned shall pay, deliver,
or cause to be paid or delivered to the Treasurer the property described in the report as
unclaimed, but if the property is an automatically renewable deposit, and a penalty or forfeiture
in the payment of interest would result, the time for compliance is extended until a penalty
or forfeiture would no longer result. (b) Tangible property held in a safe deposit box or
other safekeeping depository shall be delivered to the Treasurer within 120 days after filing
the report required in Section 35-12-76. (c) If the property reported to the Treasurer
is a security or security entitlement under Article 8 of Title 7, the Uniform Commercial Code,
the Treasurer is an appropriate person to make an indorsement, instruction, or entitlement...
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40-29-30
Section 40-29-30 Legal effect of certificate of sale of personal property and deed of
real property. (a) Certificate of sale of property other than real property. In all cases
of a sale of property (other than real property) pursuant to Section 40-29-26, the
certificate of such sale: (1) AS EVIDENCE. Shall be prima facie evidence of the right of the
officer to make such sale, and conclusive evidence of the regularity of his proceedings in
making the sale; and (2) AS CONVEYANCES. Shall transfer to the purchaser all right, title,
and interest of the party delinquent in and to the property sold; and (3) AS AUTHORITY FOR
TRANSFER OF CORPORATE STOCK. If such property consists of stocks, shall be notice when received,
to any corporation, company, or association of such transfer, and shall be authority to such
corporation, company, or association to record the transfer on its books and records in the
same manner as if the stocks were transferred or assigned by the party holding the same, in...
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7-9A-316
Section 7-9A-316 Effect of change in governing law. (a) General rule: Effect on perfection
of change in governing law. A security interest perfected pursuant to the law of the jurisdiction
designated in Section 7-9A-301(1) or 7-9A-305(c) remains perfected until the earliest
of: (1) the time perfection would have ceased under the law of that jurisdiction; (2) the
expiration of four months after a change of the debtor's location to another jurisdiction;
or (3) the expiration of one year after a transfer of collateral to a person that thereby
becomes a debtor and is located in another jurisdiction. (b) Security interest perfected or
unperfected under law of new jurisdiction. If a security interest described in subsection
(a) becomes perfected under the law of the other jurisdiction before the earliest time or
event described in that subsection, it remains perfected thereafter. If the security interest
does not become perfected under the law of the other jurisdiction before the earliest...
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11-50-171
Section 11-50-171 Publication of notice of adoption of resolution authorizing transfer,
certain terms thereof, etc.; limitation period for action to restrain proposed transfer, etc.
(a) After the adoption of proceedings providing for the transfer and conveyance of any water
system or systems, the public corporation and municipality or municipalities proposing to
make such transfer and conveyance shall cause to be published once a week for two successive
weeks in a newspaper having general circulation within the limits of such municipality or
municipalities a notice in substantially the following form (the blanks being first properly
filled in) with the names of the public corporation and the municipality or municipalities
appended thereto: "A resolution has been adopted by the board of directors of the _____
(herein insert the name of the public corporation proposing to make the transfer) and a resolution
(or resolutions) has (or have) been adopted by the governing body (or bodies) of...
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23-7-2
Section 23-7-2 Definitions. For the purposes of this chapter, the following words shall
have the following meanings: (1) BANK. The Alabama Transportation Infrastructure Bank. (2)
BOARD. The board of directors of the bank. (3) BONDS. Includes bonds, notes, or other evidence
of indebtedness except as otherwise provided in this chapter. (4) DEPARTMENT or DEPARTMENT
OF TRANSPORTATION. The Alabama Department of Transportation. (5) ELIGIBLE COST. As applied
to a qualified project to be financed from the federal highway account, the costs that are
permitted under applicable federal laws, requirements, procedures, and guidelines in regard
to establishing, operating, and providing assistance from the bank. As applied to a qualified
project to be financed from the state highway account, these costs include the costs of preliminary
engineering, traffic, and revenue studies; environmental studies; right-of-way acquisition;
legal and financial services associated with the development of the...
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26-1A-217
Section 26-1A-217 Gifts. (a) In this section, a gift "for the benefit of"
a person includes a gift to a trust, an account under the Uniform Transfers to Minors Act,
and a tuition savings account or prepaid tuition plan as defined under Internal Revenue Code
Section 529, 26 U.S.C. Section 529, as amended. (b) Unless the power of attorney
otherwise expressly provides, language in a power of attorney granting general authority with
respect to gifts authorizes the agent only to: (1) make outright to, or for the benefit of,
a person including the agent, a gift of any of the principal's property, including by the
exercise of a presently exercisable general power of appointment held by the principal, in
an amount per donee not to exceed the annual dollar limits of the federal gift tax exclusion
under Internal Revenue Code Section 2503(b), 26 U.S.C. Section 2503(b), as amended,
without regard to whether the federal gift tax exclusion applies to the gift, or if the principal's
spouse agrees to...
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7-8-320
Section 7-8-320 (Effective Until January 1, 1997) Transfer or pledge within a central
depository system. (1) If a security: (a) Is in the custody of a clearing corporation or of
a custodian bank or a nominee of either subject to the instructions of the clearing corporation;
and (b) Is in bearer form or indorsed in blank by an appropriate person or registered in the
name of the clearing corporation or custodian bank or a nominee of either; and (c) Is shown
on the account of a transferor or pledgor on the books of the clearing corporation; Then,
in addition to other methods, a transfer or pledge of the security or any interest therein
may be effected by the making of appropriate entries on the books of the clearing corporation
reducing the account of the transferor or pledgor and increasing the account of the transferee
or pledgee by the amount of the obligation or the number of shares or rights transferred or
pledged. (2) Under this section entries may be with respect to like securities...
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