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11-47-218
own name in civil actions and to defend actions against it. (3) To adopt and make use of a
corporate seal and to alter the same at pleasure. (4) To adopt, alter, and repeal bylaws,
regulations, and rules, not inconsistent with this article or its certificate of incorporation,
for the regulation and conduct of the affairs and business of the authority. (5) To acquire,
receive, take, and hold, whether by purchase, gift, lease, devise or otherwise, property of
every description, whether real, personal or mixed, and to manage the property and
to develop any undeveloped property owned, leased, or controlled by it. (6) To borrow money
and to sell and issue bonds for any corporate use or purposes. (7) To acquire, whether by
gift, purchase, transfer, foreclosure, lease, or otherwise, to construct and to expand, improve,
operate, maintain, equip, and furnish one or more projects, including all real and personal
properties that its board may deem necessary in connection therewith. (8) To lease...
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5-5A-22
Section 5-5A-22 Limits of indebtedness. (a) No bank shall make a loan to any one person which,
when combined with all other loans to such person, would cause total loans to that person
to exceed: (1) Ten percent of the capital accounts of the bank, if such loans are not secured,
or (2) Twenty percent of the capital accounts of the bank, if loans in excess of 10 percent
of capital are fully secured. (b) No loans which would exceed the limitation set forth in
subsection (a)(1) shall be made unless duly authorized or approved in advance by the board
of directors of the bank, a committee of the board of directors of the bank, or a loan committee,
with such authorization or approval recorded in minutes of the meeting at which the authority
was given. (c)(1) As used in this section, the term "capital accounts" shall include
capital, surplus, and undivided profits as defined in Section 5-1A-2, together with obligations
of the bank subordinated in priority upon liquidation or dissolution to...
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23-1-314
Section 23-1-314 Bonds and notes - Payment generally. (a) For the purpose of providing funds
to enable the authority to pay at their respective maturities and due dates the principal
of and interest on the obligations that may be issued by it under this article at any time
after March 1, 2014, there hereby is irrevocably pledged and appropriated so much as shall
be necessary for the purpose of the state's share of net gasoline tax proceeds. (b) In addition,
for the purpose of providing funds to enable the authority to pay at their respective maturities
and due dates the principal of and interest on the obligations that may be issued by it under
this article, there hereby is irrevocably pledged and appropriated each year all federal aid
funds for federal aid projects to be received by the State Department of Transportation from
the United States government to the extent that such funds may be required to pay the principal
of and interest on such obligations. All federal aid funds for...
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40-14-41
or other political subdivision of the State of Alabama, or any public corporation organized
under the laws of the State of Alabama, unless the corporation is a dealer in securities.
c. The amount invested by the taxpayer in all devices, facilities, or structures, and all
identifiable components or materials for use therein, acquired or constructed primarily for
the control, reduction, or elimination of air or water pollution. d. The amount invested by
the taxpayer in all real and tangible personal property, equipment, facilities, structures,
and components including, but not limited to, all aircraft replacement parts, components,
systems, supplies, and sundries affixed or used on an aircraft, and ground support equipment
and vehicles used by or for the aircraft, when used by certified or licensed air carrier with
a hub operation within this state, for use in conducting intrastate, interstate, or foreign
commerce for transporting people or property by air. For the purpose of this...
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10A-20-7.04
charges for interest and service connected therewith; provided, however, that the corporation
shall not approve any application for a loan unless and until the person applying for the
loan shall show that the person has applied for the loan through ordinary banking channels
and that the loan has been refused by at least one bank or other financial institution. (4)
To purchase, receive, hold, lease, or otherwise acquire and to sell, convey, transfer, lease,
or otherwise dispose of real and personal property, together with the rights and privileges
as may be incidental and appurtenant thereto and the use thereof, including, but not restricted
to, any real or personal property acquired by the corporation from time to time in
the satisfaction of debts or enforcement of obligations. (5) To acquire the goodwill, business,
rights, real and personal property, and other assets, or any part thereof or interest
therein, of any persons, firms, corporations, joint-stock companies, associations,...
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11-89A-8
to defend suit against it; (3) To adopt and make use of a corporate seal and to alter the same
at pleasure; (4) To adopt, alter, and repeal bylaws, regulations, and rules, not inconsistent
with the provisions of this chapter, for the regulation and conduct of its affairs and business;
(5) To acquire, whether by gift, purchase, transfer, foreclosure, lease, or otherwise, to
construct and to expand, improve, operate, maintain, equip, and furnish one or more facilities,
including all real and personal properties that its board may deem necessary in connection
therewith, regardless of whether or not any such facility shall then be in existence and,
if in existence, regardless of whether or not any such facility is then owned or leased by
any person to which such facility may subsequently be sold or leased by such authority; (6)
To borrow money and to sell and issue bonds as hereinafter provided for any corporate use
or purpose; (7) To lease to any person or persons all or any part of any...
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39-2-12
Section 39-2-12 Partial and final payments of contractors by awarding authorities. (a) As used
in this section the following words shall have the meanings ascribed to them as follows: (1)
CONTRACTOR. Any natural person, partnership, company, firm, corporation, association, limited
liability company, cooperative, or other legal entity licensed by the Alabama State Licensing
Board for General Contractors. (2) NONRESIDENT CONTRACTOR. A contractor which is neither a.
organized and existing under the laws of the State of Alabama, nor b. maintains its principal
place of business in the State of Alabama. A nonresident contractor which has maintained a
permanent branch office within the State of Alabama for at least five continuous years shall
not thereafter be deemed to be a nonresident contractor so long as the contractor continues
to maintain a branch office within Alabama. (3) RETAINAGE. That money belonging to the contractor
which has been retained by the awarding authority conditioned on...
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41-14-51
Section 41-14-51 Definitions. When used in this article, the following words and phrases have
the following meanings: (1) AGRICULTURE and AGRICULTURAL. Those activities, land, buildings,
and machinery relating to any of the following: a. The raising, harvesting, rotation, selling,
or marketing of crops or products of the soil planted, served, or saved including cereals,
vegetables, fruits, fibers, sugars, resins and pitches, grasses, grains, seeds, nuts, bulbs,
feed, forage, wood and wood by-products, nursery stock, including trees and shrubs or other
plants grown or kept for propagation, distribution, or sale, vegetable oils, flowers, silage,
pasturage, and other products and produce thereof. b. The feeding, breeding, management, raising,
marketing, sale, or production of livestock of all types, poultry, insects, fish, and other
aquatic animals for meat, leather, eggs, fur, milk, bone, liquids, and other products and
produce thereof. c. Recreational or educational activities directly...
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40-9-1
Section 40-9-1 Persons and property generally. The following property and persons shall be
exempt from ad valorem taxation and none other: (1) All bonds of the United States and this
state and all county and municipal bonds issued by counties and municipalities in this state,
all property, real and personal, of the United States and this state and of county
and municipal corporations in this state; all cemeteries, all property, real and personal,
used exclusively for religious worship, for schools or for purposes purely charitable; provided,
that property, real or personal, owned by any educational, religious or charitable
institution, society or corporation let for rent or hire or for use for business purposes
shall not be exempt from taxation, notwithstanding that the income from such property shall
be used exclusively for education, religious or charitable purposes; all mortgages, together
with the notes, debts and credits secured thereby on real and personal property situated
in...
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45-28-91.01
board shall be interested, directly or indirectly, in any contract of work, materials, or services.
(e) The board shall have the power to do all of the following: (1) To sue and be sued. (2)
To acquire property and rights and interests in property by gift, lease, or purchase. (3)
To have a seal and alter the same at pleasure. (4) To appoint officers, agents, or employees
as deemed necessary. (5) To make contracts and to execute all instruments necessary to lease
or purchase and own real or personal property to be used for the furtherance of the
purposes for the accomplishment of which the board is created. (6) To accept or receive gifts,
bequests, and devises. (7) To invest its funds not needed to meet disbursements in bonds or
obligations of the United States of America or deposit such funds in any bank or building
and loan association, provided the deposit is fully insured by a federal corporation or agency
of the federal government insuring deposits in financial institutions or...
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