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5-7A-22
Section 5-7A-22 Conversion of national bank, etc., into state bank - Powers and duties of bank,
stockholders, officers, etc., upon issuance of certificate. (a) When the superintendent has
given to such bank a certificate that the provisions of this article have been complied with,
such bank and all its stockholders, officers and employees shall have the same powers and
privileges and shall be subject to the same duties, liabilities and regulations, in all respects,
as shall have been prescribed for banks originally organized as banking corporations under
the laws of Alabama. (b) At the time when such conversion of the national bank into a state
bank, under the charter of the latter, becomes effective, all the property of the national
bank, including all its rights, title and interest in and to all property of whatsoever kind,
whether real, personal or mixed, and things in action, and every right, privilege, interest
and asset of any conceivable value or benefit then existing, belonging...
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10A-2A-14.05
Section 10A-2A-14.05 Effect of dissolution. (a) A dissolved corporation continues its existence
as a corporation but may not carry on any business except as is appropriate to wind up and
liquidate its business and affairs, including: (1) collecting its assets; (2) disposing of
its properties that will not be distributed in kind to stockholders; (3) discharging or making
provisions for discharging its liabilities; (4) distributing its remaining property among
its stockholders according to their interests; and (5) doing every other act necessary to
wind up and liquidate its business and affairs. (b) In winding up its business and affairs,
a corporation may: (1) preserve the corporation's business and affairs and property as a going
concern for a reasonable time; (2) prosecute, defend, or settle actions or proceedings whether
civil, criminal, or administrative; (3) transfer the corporation's assets; (4) resolve disputes
by mediation or arbitration; (5) merge or convert in accordance with...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2A-14.05.htm - 2K - Match Info - Similar pages
10A-5A-11.10
Section 10A-5A-11.10 Effect of dissolution of series. Notwithstanding Section 10A-1-9.12: (a)
A dissolved series continues its existence as a series but may not carry on any activities
and affairs except as is appropriate to wind up and liquidate its activities and affairs,
including: (1) collecting the assets of the series; (2) disposing of the properties of the
series that will not be distributed in kind to persons owning transferable interests; (3)
discharging or making provisions for discharging the liabilities of the series; (4) distributing
the remaining property of the series in accordance with Section 10A-5A-11.14; and (5) doing
every other act necessary to wind up and liquidate the series' activities and affairs. (b)
In winding up a series' activities and affairs, a series may: (1) preserve the series' activities
and affairs and property as a going concern for a reasonable time; (2) prosecute, defend,
or settle actions or proceedings whether civil, criminal, or administrative;...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-5A-11.10.htm - 1K - Match Info - Similar pages
11-40-65
Section 11-40-65 Filing petition for foreclosure; form of petition; notice. (a) After a municipal
code lien has been recorded with the office of the probate judge of the county in which the
real property lies, the Class 2 municipality may identify those properties on which to commence
a judicial in rem foreclosure in accordance with this article, except that those properties
the Class 2 municipality identifies as owner occupied shall not be subject to judicial in
rem foreclosure under this article. The Class 2 municipality shall not file a petition for
judicial in rem foreclosure in accordance with this article for a period of six months following
the date upon which the municipal code lien is recorded in the office of the probate judge.
A petition for judicial in rem foreclosure may include any other municipal code lien that
has been filed prior to the date the petition is filed. After enforcement proceedings have
commenced in accordance with this article, the enforcement proceedings...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-40-65.htm - 11K - Match Info - Similar pages
18-4-14
Section 18-4-14 Procedure for acquiring real property. Whenever real property is acquired by
a state agency in connection with any programs or projects, the acquisition shall be conducted,
to the greatest extent practicable, in accordance with the following: (1) An agency shall
make every reasonable effort to acquire, expeditiously, real property by negotiation. (2)
Real property shall be appraised before the initiation of negotiations, and the owner or his
or her designated representative shall be given an opportunity to accompany the appraiser
during his or her inspection of the property. (3) Before the initiation of negotiations for
real property, the state agency concerned shall establish an amount which it believes to be
just compensation for the property and shall make a prompt offer to acquire the property for
the full amount established. In no event shall the amount be less than the approved appraisal
of the fair market value of the property by the agency. Any decrease or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/18-4-14.htm - 3K - Match Info - Similar pages
27-14-29
Section 27-14-29 Rights of beneficiaries, etc., under life insurance policies against creditors,
etc. (a) If a policy of insurance, whether heretofore or hereafter issued, is effected by
any person on his own life or on another life in favor of a person other than himself or,
except in cases of transfer with intent to defraud creditors, if a policy of life insurance
is assigned or in any way made payable to any such person, the lawful beneficiary, or assignee
thereof, other than the insured or the person so effecting such insurance or his executors
or administrators, shall be entitled to its proceeds and avails against the creditors, personal
representatives, trustees in bankruptcy, and receivers in state and federal courts of the
person insured and of the person effecting the insurance, whether or not the right to change
the beneficiary is reserved or permitted and whether or not the policy is made payable to
the person whose life is insured, if the beneficiary or assignee shall...
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35-4-431
Section 35-4-431 Definitions. (a) As used in this article, the following words have the following
meanings: (1) ASSOCIATION. An association or unit owners' association, as defined in Section
35-8A-103 of the Alabama Uniform Condominium Act of 1991; an association as defined in Section
35-8-2 of the Condominium Ownership Act; or a nonprofit or cooperative membership organization
composed exclusively of owners of mobile homes, manufactured housing, time-shares, camping
resort interests, or other interests in real property that is responsible for the maintenance,
improvements, services, or expenses related to real property that is owned, used, or enjoyed
in common by the members. (2) PAYEE. The person or entity who claims the right to receive
or collect a private transfer fee payable under a private transfer obligation. A payee may
or may not have a pecuniary interest in the private transfer fee obligation. (3) PRIVATE TRANSFER
FEE. A fee or charge payable upon the transfer of an interest...
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41-16-123
Section 41-16-123 Provisions applicable to certain property held by division. This section
shall apply only to that property that has been held by the division for a period of not less
than 60 days from the date the property is first published in the list of surplus property,
as set out in subsection (b) of Section 41-16-121, and not purchased by any eligible entity
as set out in subsection (e) of Section 41-16-120 as follows: (1) All contracts made by or
on behalf of the State of Alabama or a department, board, bureau, commission, institution,
corporation, or agency thereof, of whatever nature for the sale or disposal of tangible personal
property owned by the State of Alabama, other than the following: a. Alcoholic beverages.
b. Products of the Alabama Institute for Deaf and Blind. c. Barter arrangements of the state
prison system. d. Books. e. School supplies. f. Food. g. Property used in vocational projects.
h. Livestock. i. Property owned by any state college or university,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-16-123.htm - 9K - Match Info - Similar pages
45-26A-70.15
Section 45-26A-70.15 Applicability of article. (a) This article shall not apply to a highway,
road, street, bridge, or utility structure or facility, nor to any highway, road, street,
bridge, or utility structure or facility to be constructed or improved, including any property,
building, or other structure or facility to be changed, moved, demolished, acquired, or utilized
in connection therewith, or within an historic district or an area designated as historic
properties under this article, nor to actions taken in connection therewith by public authorities
or utilities charged with the responsibility of constructing, maintaining, repairing, or improving
any such highway, road, street, bridge, or utility structure or facility, including any property,
building, or other structure or facility to be changed, moved, demolished, acquired, or utilized
in connection therewith; provided further, however, that where property lying within an area
designated as historic properties or as an...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-26A-70.15.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, ยง1.)...
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