10A-8A-10.03
Section 10A-8A-10.03 Death or disqualification of partner. (a) In the case of a limited liability partnership performing professional services, upon the death of a partner, upon a partner becoming a disqualified person, or upon a transferable interest being transferred by operation of law or court decree to a disqualified person, the transferable interest of the deceased partner or of the disqualified person may be transferred to a qualified person and, if not so transferred, subject to Section 10A-8A-4.09, shall be purchased by the limited liability partnership as provided in this section. (b) If the price of the transferable interest is not fixed by the partnership agreement, the limited liability partnership, within six months after the death or 30 days after the disqualification or transfer, as the case may be, shall make a written offer to pay to the holder of the transferable interest a specified price deemed by the limited liability partnership to be the fair value of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-8A-10.03.htm - 7K - Match Info - Similar pages
25-4-134
Section 25-4-134 Procedures for collection of delinquent contribution payments. (a) Generally. The contributions, interest, and penalties required to be paid under this chapter shall be a first and prior lien upon all property and rights to property, real or personal, of any employer subject to this chapter. The lien shall arise at the time the contribution report, or the payment of the contributions, as the case may be, was due to have been filed with or made to the Department of Labor. The secretary may file in the office of the judge of probate of any county in this state a certificate which shall show the name of the department for which it is filed, the amount and nature of the contributions, interest, and penalties for which a lien is claimed together with any costs that may have accrued, the name of the employer against whose property a lien for such contributions, interest, and penalties is claimed and the date thereof. An error in the certificate of the amount shall not...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/25-4-134.htm - 18K - Match Info - Similar pages
27-15-53
Section 27-15-53 Requirements for death master file comparisons. (a) An insurer shall perform a comparison of its insureds' in-force life insurance policies, annuity contracts, and retained asset accounts against a death master file, to identify potential death master file matches of its insureds. Such comparison shall be completed by January 1, 2019. Thereafter, an insurer shall maintain a program designed to compare each such policy, contract, or account with a death master file no less frequently than every three years, it being the intent that insurers fashion a program that best fits their business systems while at the same time protecting consumers by assuring reasonable checks are being performed to identify unreported deaths. For those potential death master file matches identified as a result of a death master file comparison, the insurer shall do all of the following: (1) Within 90 days of a death master file match: a. Complete a commercially reasonable effort, which shall be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-15-53.htm - 5K - Match Info - Similar pages
27-37-4
Section 27-37-4 Disallowance of assets or credits for deception. (a) The commissioner shall disallow as an asset or as a credit against liabilities any reinsurance found by him after a hearing thereon to have been arranged for on a temporary basis for the purpose principally of deception as to the ceding insurer's financial condition as at the date of any financial statement of the insurer. Reinsurance of any substantial part of the insurer's outstanding risks contracted for in fact within 90 days prior to the date of any such financial statement and cancelled in fact within 90 days after the date of such statement shall prima facie be deemed to have been arranged for the purpose of deception within the intent of this section. (b) The commissioner shall disallow as an asset any deposit, funds, or other assets of the insurer found by him after a hearing thereon: (1) Not to be in good faith the property of the insurer; (2) Not freely subject to withdrawal or liquidation by the insurer at...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-37-4.htm - 2K - Match Info - Similar pages
35-8A-317
Section 35-8A-317 Other liens affecting the condominium. (a) Except as provided in subsection (b), a judgment for money against the association if recorded is not a lien on the common elements, but is a lien in favor of the judgment lienholder against all of the units in the condominium at the time the judgment was entered. No other property of a unit owner is subject to the claims of creditors of the association. (b) If the association has granted a security interest in the common elements to a creditor of the association pursuant to Section 35-8A-312, the holder of that security interest shall exercise its right against the common elements before its judgment lien on any unit may be enforced. (c) Whether perfected before or after the creation of the condominium, if a lien other than a deed of trust or mortgage, including a judgment lien or lien attributable to work performed or materials supplied before creation of the condominium, becomes effective against two or more units, the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-8A-317.htm - 2K - Match Info - Similar pages
10A-2-14.40
Section 10A-2-14.40 Deposit with State Treasurer. REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. Assets of a dissolved corporation that should be transferred to a creditor, claimant, or shareholder of the corporation who cannot be found or who is not competent to receive them shall be reduced to cash and deposited with the State Treasurer for safekeeping. When the creditor, claimant, or shareholder furnishes satisfactory proof of entitlement to the amount deposited, the State Treasurer shall pay him or her or his or her representative that amount. The assets shall be held for the owner by the State Treasurer for three years and any assets which remain unclaimed by the owner after three years shall be presumed abandoned and subject to the provisions of the Uniform Disposition of Unclaimed Property Act. (Acts 1994, No. 94-245, p. 343, §1; §10-2B-14.40; amended and renumbered by Act 2009-513, p. 967, §151.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-14.40.htm - 1K - Match Info - Similar pages
35-9A-461
Section 35-9A-461 Landlord's action for eviction, rent, monetary damages, or other relief. (a) A landlord's action for eviction, rent, monetary damages, or other relief relating to a tenancy subject to this chapter shall be governed by the Alabama Rules of Civil Procedure and the Alabama Rules of Appellate Procedure except as modified by this chapter. (b) District courts and circuit courts, according to their respective established jurisdictions, shall have jurisdiction over eviction actions, and venue shall lie in the county in which the leased property is located. Eviction actions shall be entitled to precedence in scheduling over all other civil cases. (c) Service of process shall be made in accordance with the Alabama Rules of Civil Procedure. However, if a sheriff, constable, or process server is unable to serve the defendant personally, service may be had by delivering the notice to any person who is sui juris residing on the premises, or if after reasonable effort no person is...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-9A-461.htm - 5K - Match Info - Similar pages
37-5-8
Section 37-5-8 Bonds - Rights and remedies of bondholders. In addition to all other remedies, any holder of a bond of any district incorporated under this chapter, including a trustee for bondholders, shall have the right, subject to any contractual limitations binding upon such bondholders or trustee and subject to the prior or superior rights of others: (1) By mandamus or other action or proceedings to enforce his rights against such district and the board of such district, including the right to require such district and such board to fix and collect rates and charges adequate to carry out any agreement as to, or pledge of, the revenues produced by such rates or charges, and to require such district and such board to carry out any other covenants and agreements with such bondholder and to perform its and their duties under this chapter. (2) By civil action to enjoin any acts or things which may be unlawful or a violation of the rights of such bondholder. (3) By civil action to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-5-8.htm - 2K - Match Info - Similar pages
8-9B-3
Section 8-9B-3 Insolvency. (a) A debtor is insolvent if the sum of the debtor's debts at a fair valuation is greater than the sum of the debtor's assets at a fair valuation. (b) A debtor that is generally not paying the debtor's debts as they become due other than as a result of a bona fide dispute is presumed to be insolvent. The presumption imposes on the party against which the presumption is directed the burden of proving that the nonexistence of insolvency is more probable than its existence. (c) Assets under this section do not include property that has been transferred, concealed, or removed with intent to hinder, delay, or defraud creditors or that has been transferred in a manner making the transfer voidable under this chapter. (d) Debts under this section do not include an obligation to the extent it is secured by a valid lien on property of the debtor not included as an asset. (Act 2018-163, §1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-9B-3.htm - 1K - Match Info - Similar pages
11-50-529
Section 11-50-529 Bonds - Rights and remedies of bondholders. In addition to all other remedies available under this chapter or by law, any holder of any bonds issued by the corporation, including the trustee under any mortgage or deed of trust executed as security therefor, shall have the right, subject to any contractual limitations and to the prior or superior rights of others: (1) By mandamus or other suit, action or proceeding to enforce his rights against the corporation and the board and its officers, including the right to require the fixing and collection of uniform schedules of rates and charges adequate to carry out any agreement made by the corporation as to, or pledge of, the revenues of the corporation, and to require the corporation and the board and its officers to carry out any other agreements with the holders of such bonds and the trustee; (2) By civil action to enjoin any acts or things which may be unlawful or in violation of the rights of the holders of the bonds...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50-529.htm - 2K - Match Info - Similar pages
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