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10A-5A-11.14
Section 10A-5A-11.14 Application of assets in winding up series' activities and affairs. Notwithstanding
Section 10A-1-9.12, upon the winding up of a series, the assets of the series shall be applied
as follows: (a) Payment, or adequate provision for payment, shall be made to creditors of
the series, including, to the extent permitted by law, members who are associated with the
series and who are also creditors of the series, in satisfaction of liabilities of the series.
(b) After a series complies with subsection (a), any surplus must be distributed: (1) first,
to each person owning a transferable interest associated with that series that reflects contributions
made on account of that transferable interest and not previously returned, an amount equal
to the value of the unreturned contributions; and (2) then to each person owning a transferable
interest associated with that series in the proportions in which the owners of transferable
interests associated with that series share in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-5A-11.14.htm - 1K - Match Info - Similar pages
13A-12-200.1
Section 13A-12-200.1 Definitions. As used in this division, the following terms shall have
the meanings respectively ascribed to them by this section: (1) ADULT BOOKSTORES and ADULT
VIDEO STORES. A commercial establishment in which is offered for sale or rent any book, video,
film, or other medium which in the aggregate constitute substantially all of its stock or
inventory which depicts sexual conduct as defined herein. (2) ADULT MOVIE HOUSE. A place where
obscene "adult films" depicting sexual conduct are shown. (3) ADULT-ONLY ENTERTAINMENT.
Any commercial establishment or private club where entertainers, employees, dancers, or waiters
appear nude or semi-nude. (4) BREAST NUDITY. The showing of the post-pubertal human female
breasts below a point immediately above the top of the areola. (5) DISPLAY FOR SALE. To expose,
place, exhibit, show, or in any fashion display any material for the purpose of the sale of
such material to any person in a manner that a minor can physically examine...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/13A-12-200.1.htm - 6K - Match Info - Similar pages
40-22-1
Section 40-22-1 Deeds, bills of sale, etc. (a) Except as set out in subsection (b), no deed,
bill of sale, or other instrument of like character which conveys any real or personal property
within this state or which conveys any interest in any such property shall be received for
record unless the privilege or license tax is paid prior to the instrument being offered for
record as provided in subsection (c). (b) No privilege or license tax shall be required for
any of the following: (1) The transfer of mortgages on real or personal property within this
state upon which the mortgage tax has been paid. (2) Deeds or instruments executed for a nominal
consideration for the purpose of perfecting the title to real estate. (3) The re-recordation
of corrected mortgages, deeds, or instruments executed for the purpose of perfecting the title
to real or personal property, specifically, but not limited to, corrections of maturity dates
thereof, and deeds and other instruments or conveyances,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-22-1.htm - 9K - Match Info - Similar pages
5-19-6
Section 5-19-6 Copies of instruments signed by debtors to be furnished to debtors; required
statement in contracts, etc.; limitation on disclosure requirements; intent, applicability
of limitation. (a) Any creditor, when extending credit with respect to a consumer credit transaction,
other than under an open-end credit plan, shall at that time furnish to the debtor a copy
of each instrument executed by the debtor in connection with the consumer credit transaction.
The consumer credit transaction contract or note shall contain the following statement in
eight point or larger type immediately above the space for the borrower's signature. "CAUTION
- IT IS IMPORTANT THAT YOU THOROUGHLY READ THE CONTRACT BEFORE YOU SIGN IT." (b) No disclosures
are required by this chapter to be made by a creditor with respect to any transaction other
than disclosures required by regulations made by the administrator pursuant to Section 5-19-21
and disclosures required by subsection (a) above and by Sections...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-19-6.htm - 2K - Match Info - Similar pages
7-3-206
Section 7-3-206 Restrictive indorsement. (a) An indorsement limiting payment to a particular
person or otherwise prohibiting further transfer or negotiation of the instrument is not effective
to prevent further transfer or negotiation of the instrument. (b) An indorsement stating a
condition to the right of the indorsee to receive payment does not affect the right of the
indorsee to enforce the instrument. A person paying the instrument or taking it for value
or collection may disregard the condition, and the rights and liabilities of that person are
not affected by whether the condition has been fulfilled. (c) If an instrument bears an indorsement
(i) described in Section 7-4-201(b), or (ii) in blank or to a particular bank using the words
"for deposit," "for collection," or other words indicating a purpose of
having the instrument collected by a bank for the indorser or for a particular account, the
following rules apply: (1) A person, other than a bank, who purchases the instrument...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-3-206.htm - 3K - Match Info - Similar pages
7-3-303
Section 7-3-303 Value and consideration. (a) An instrument is issued or transferred for value
if: (1) The instrument is issued or transferred for a promise of performance, to the extent
the promise has been performed; (2) The transferee acquires a security interest or other lien
in the instrument other than a lien obtained by judicial proceeding; (3) The instrument is
issued or transferred as payment of, or as security for, an antecedent claim against any person,
whether or not the claim is due; (4) The instrument is issued or transferred in exchange for
a negotiable instrument; or (5) The instrument is issued or transferred in exchange for the
incurring of an irrevocable obligation to a third party by the person taking the instrument.
(b) "Consideration" means any consideration sufficient to support a simple contract.
The drawer or maker of an instrument has a defense if the instrument is issued without consideration.
If an instrument is issued for a promise of performance, the issuer...
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7-3-404
Section 7-3-404 Impostors; fictitious payees. (a) If an impostor, by use of the mails or otherwise,
induces the issuer of an instrument to issue the instrument to the impostor, or to a person
acting in concert with the impostor, by impersonating the payee of the instrument or a person
authorized to act for the payee, an indorsement of the instrument by any person in the name
of the payee is effective as the indorsement of the payee in favor of a person who, in good
faith, pays the instrument or takes it for value or for collection. (b) If (i) a person whose
intent determines to whom an instrument is payable (Section 7-3-110(a) or (b)) does not intend
the person identified as payee to have any interest in the instrument, or (ii) the person
identified as payee of an instrument is a fictitious person, the following rules apply until
the instrument is negotiated by special indorsement: (1) Any person in possession of the instrument
is its holder. (2) An indorsement by any person in the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-3-404.htm - 2K - Match Info - Similar pages
7-9A-307
Section 7-9A-307 Location of debtor. (a) "Place of business." In this section, "place
of business" means a place where a debtor conducts its affairs. (b) Debtor's location:
General rules. Except as otherwise provided in this section, the following rules determine
a debtor's location: (1) A debtor who is an individual is located at the individual's principal
residence. (2) A debtor that is an organization and has only one place of business is located
at its place of business. (3) A debtor that is an organization and has more than one place
of business is located at its chief executive office. (c) Limitation of applicability of subsection
(b). Subsection (b) applies only if a debtor's residence, place of business, or chief executive
office, as applicable, is located in a jurisdiction whose law generally requires information
concerning the existence of a nonpossessory security interest to be made generally available
in a filing, recording, or registration system as a condition or result...
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7-9A-611
Section 7-9A-611 Notification before disposition of collateral. (a) "Notification date."
In this section, "notification date" means the earlier of the date on which: (1)
a secured party sends to the debtor and any secondary obligor an authenticated notification
of disposition; or (2) the debtor and any secondary obligor waive the right to notification.
(b) Notification of disposition required. Except as otherwise provided in subsection (d),
a secured party that disposes of collateral under Section 7-9A-610 shall send to the persons
specified in subsection (c) a reasonable authenticated notification of disposition. (c) Persons
to be notified. To comply with subsection (b), the secured party shall send an authenticated
notification of disposition to: (1) the debtor; (2) any secondary obligor; and (3) if the
collateral is other than consumer goods: (A) any other person from which the secured party
has received, before the notification date, an authenticated notification of a claim of an...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-9A-611.htm - 3K - Match Info - Similar pages
9-17-33
Section 9-17-33 Disposition of proceeds from sale of oil or gas production. (a) As used in
this section, the following terms shall have the following meanings: (1) CHECK STUB. The financial
record attached to a check, included with a check, or mailed separately at or near the time
the check is mailed. (2) DIVISION ORDER. A contract between the interest owner and the purchaser,
operator, or the owner of the right to drill and to produce, directing the distribution of
the value from the sale of the oil, gas, and other liquid hydrocarbons in the proportions
set out in the division order, which division order is prepared by the purchaser, operator,
and/or the owner of the right to drill and to produce on the basis of the ownership shown
in a title opinion prepared after examination of abstracts or based on other generally acceptable
legal ownership documentation and which is executed by the interest owners or others having
an interest in the production. (3) INTEREST OWNER. A person owning...
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