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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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27-32-27
Section 27-32-27 Voidable transfers and liens. (a) Any transfer of, or lien upon, the property
of an insurer which is made or created within four months prior to the granting of an order
to show cause under this chapter with the intent of giving to any creditor a preference or
of enabling him to obtain a greater percentage of his debt than any other creditor of the
same class and which is accepted by such creditor, having reasonable cause to believe that
such preference will occur, shall be voidable. (b) Every director, officer, employee, stockholder,
member, subscriber, and any other person acting on behalf of such insurer who shall be concerned
in any such act or deed and every person receiving thereby any property of such insurer of
the benefit thereof shall be personally liable therefor and shall be bound to account to the
commissioner. (c) The commissioner, as receiver in any proceeding under this chapter, may
avoid any transfer of, or lien upon, the property of an insurer which...
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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...
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8-9B-11
Section 8-9B-11 Governing law. (a) 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. (b) A claim for relief in the nature of a claim
for relief under this chapter is governed by the local law of the jurisdiction in which the
debtor is located when the transfer is made. (Act 2018-163, §1.)...
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19-3A-502
Section 19-3A-502 Disbursements from principal. (a) A trustee shall make the following disbursements
from principal: (1) An amount, not to exceed fifty percent (50%), of the disbursements described
in Section 19-3A-501(a) and Section 19-3A-501(b); (2) All of the trustee's compensation calculated
on principal as a fee for acceptance, distribution, or termination, and disbursements made
to prepare property for sale; (3) Payments on the principal of a trust debt; (4) Expenses
of a proceeding that concerns primarily principal, including a proceeding to construe the
trust or to protect the trust or its property; (5) Premiums paid on a policy of insurance
not described in Section 19-3A-501(d), of which the trust is the owner and beneficiary; and
(6) Estate, inheritance, and other transfer taxes, including penalties thereon, apportioned
to the trust which carries the name of the estate. (b) If a principal asset is encumbered
with an obligation that requires income from that asset to be paid...
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7-8-108
Section 7-8-108 Warranties in direct holding. (a) A person who transfers a certificated security
to a purchaser for value warrants to the purchaser, and an indorser, if the transfer is by
indorsement, warrants to any subsequent purchaser, that: (1) the certificate is genuine and
has not been materially altered; (2) the transferor or indorser does not know of any fact
that might impair the validity of the security; (3) there is no adverse claim to the security;
(4) the transfer does not violate any restriction on transfer; (5) if the transfer is by indorsement,
the indorsement is made by an appropriate person, or if the indorsement is by an agent, the
agent has actual authority to act on behalf of the appropriate person; and (6) the transfer
is otherwise effective and rightful. (b) A person who originates an instruction for registration
of transfer of an uncertificated security to a purchaser for value warrants to the purchaser
that: (1) the instruction is made by an appropriate person,...
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8-9A-2
Section 8-9A-2 Insolvency. (a) A debtor is insolvent if the sum of the debtor's debts is greater
than all of the debtor's assets at a fair valuation. (b) A debtor who is generally not paying
his debts as they become due is presumed to be insolvent. (c) A partnership is insolvent under
subsection (a) if the sum of the partnership's debts is greater than the aggregate, at a fair
valuation, of all of the partnership's assets and the sum of the excess of the value of each
general partner's nonpartnership assets over the partner's nonpartnership debts. (d) 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. (e) 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. (Acts 1989, No. 89-793, p. 1585, §2.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-9A-2.htm - 1K - Match Info - Similar pages
8-21C-6
Section 8-21C-6 Change of dealer ownership. (a) If a dealer desires to make a change in ownership
by the sale of the business assets, a stock transfer, or otherwise, the dealer shall give
the manufacturer or distributor written notice at least 15 business days before the closing,
including all supporting documentation as may be reasonably required by the manufacturer or
distributor to determine if an objection to the sale may be made. In the absence of a breach
by the selling dealer of its dealer agreement or this chapter, the manufacturer or distributor
may not object to the proposed change in ownership unless any of the following circumstances
is present: (1) The prospective transferee has previously been terminated by the manufacturer
or distributor for breach of its dealer agreement. (2) The prospective transferee has been
convicted of a felony or any crime of fraud, deceit, or moral turpitude. (3) The prospective
transferee lacks any license required by law. (4) The prospective...
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8-3-40
Section 8-3-40 Transfer of judgment to surety upon payment of same by surety. (a) Whenever
a judgment is obtained by a creditor on a demand to which there are one or more sureties,
the sureties may pay such demand, and the same shall be transferred by operation of law to
the surety or sureties paying or satisfying such demand, who shall have all the liens or equities
of such judgment and of the debt or claim on which the same is founded. (b) The plaintiff
in the judgment, his agent or attorney of record, when the payment is made, must assign such
judgment to the surety or sureties paying the money, who may collect the same, with interest
and costs, in the name of the plaintiff for their use, and may assert any lien or right against
the principal debtor which the plaintiff could have asserted if the debt had not been paid.
(Code 1852, §2651; Code 1867, §3078; Code 1876, §3418; Code 1886, §3157; Code 1896, §3888;
Code 1907, §5408; Code 1923, §9567; Code 1940, T. 9, §101.)...
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27-31B-22
Section 27-31B-22 Protected cell captive insurance companies. (a) One or more sponsors may
form a protected cell captive insurance company under this chapter. (b) A protected cell captive
insurance company formed or licensed under this chapter may establish and maintain one or
more protected cells to insure risks of one or more participants, subject to all of the following
conditions: (1) Each protected cell shall be accounted for separately on the books and records
of the protected cell captive insurance company to reflect the financial condition and results
of operations of the protected cell, net income or loss, dividends or other distributions
to participants, and other factors as may be provided in the participant contract or required
by the commissioner. (2) The assets of a protected cell shall not be chargeable with liabilities
arising out of any other insurance business the protected cell captive insurance company may
conduct. (3) No sale, exchange, or other transfer of assets...
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