27-17A-47
Section 27-17A-47 Establishment and management of endowment care fund. (a) Every cemetery authority operating an endowment care cemetery shall establish an endowment care fund which shall be placed with and held by a bank, trust company, savings and loan association, or other financial institution authorized to provide trust services under Title 5, as amended, or under the applicable laws of the United States or any other state, or a board of trustees, consisting of at least three members, who shall reside in the State of Alabama, one of whom is engaged in outside cemetery management, and each of whom shall be bonded to honestly perform the duties of trustee under a formal trust agreement. (b) Except as specifically provided in this subsection, commencing on July 1, 2014, a person serving on a board of trustees or cemetery authority may not also serve as a trustee of an endowment care fund for the cemetery authority. A board of trustees in existence on July 1, 2014, may continue to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-17A-47.htm - 3K - Match Info - Similar pages
5-12A-6
Section 5-12A-6 Control of investments by instrument under which trust institution acts. If the instrument under which a trust institution acts as fiduciary, whether such fiduciary capacity arose before or is created after July 8, 1943, shall either expressly or by its silence limit or restrict the investment of moneys of the estate and securities to the class authorized by law as legal investments, the trust institution may, in its capacity as sole fiduciary or with the consent of any person acting with it in a fiduciary capacity, invest and reinvest moneys of the estate in any such common trust fund maintained by the trust institution or by an affiliated trust institution, provided, the securities composing such fund consist solely of securities of the class authorized as legal investments for funds held by a fiduciary. If the instrument under which the trust institution acts as fiduciary, whether such fiduciary capacity arose before or is created after July 8, 1943, shall authorize...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-12A-6.htm - 2K - Match Info - Similar pages
17-5-7
Section 17-5-7 Use of excess moneys received; solicitation, etc., of contributions. (a) Except as provided in subsection (d) and in Section 17-5-7.1, a candidate, public official, or treasurer of a principal campaign committee as defined in this chapter, may only use campaign contributions, and any proceeds from investing the contributions that are in excess of any amount necessary to defray expenditures of the candidate, public official, or principal campaign committee, for the following purposes: (1) Necessary and ordinary expenditures of the campaign. (2) Expenditures that are reasonably related to performing the duties of the office held. For purposes of this section, expenditures that are reasonably related to performing the duties of the office held do not include personal and legislative living expenses, as defined in this chapter. (3) Donations to the State General Fund, the Education Trust Fund, or equivalent county or municipal funds. (4) Donations to an organization to which...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/17-5-7.htm - 5K - Match Info - Similar pages
36-21-183
Section 36-21-183 Board of Commissioners of the Alabama Firefighters Annuity and Benefit Fund - Powers and duties. The board shall have the following powers in carrying out its responsibilities: (1) To collect all moneys provided in this article to be collected by it. (2) To provide for and maintain all necessary administrative facilities and personnel. (3) To provide for payment of all administrative salaries, fees, and expenses. (4) To cause its moneys to be invested in a manner consistent with the ERS investment policies and practices. (5) To pass upon all applications for annuities and benefits provided for in this article. (6) To adopt such rules as may be necessary or desirable to expedite the administration of the affairs of the board pursuant to the Alabama Administrative Procedure Act. (7) To provide upon request descriptive literature regarding the fund. (8) To pay all benefits and annuities that may be determined to be due under this article and under the rules of the board....
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36-21-64
Section 36-21-64 Board of Commissioners of Alabama Peace Officers' Annuity and Benefit Fund - Powers and duties generally. The board shall have the following powers in carrying out its responsibilities under this article: (1) To collect all moneys provided in this article to be collected by it; (2) To provide for and maintain all necessary administrative facilities and personnel; (3) To provide for payment of all administrative salaries, fees and expenses; (4) To cause its moneys to be invested and its investments sold or exchanged and the proceeds and income collected; (5) To determine who is a peace officer; (6) To pass upon all applications for annuities and benefits provided for in this article; (7) To adopt such rules and regulations as may be necessary or desirable to expedite the administration of the affairs of the board and as shall not be inconsistent with the laws of the state; (8) To provide descriptive literature respecting the fund; (9) To pay all benefits and annuities...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-21-64.htm - 2K - Match Info - Similar pages
9-11-23
Section 9-11-23 Alabama Marine Resources Endowment Fund. (a) There is created within the Marine Resources Fund, a special account to be known as the Alabama Marine Resources Endowment Fund. The assets of the fund shall consist of all of the following: (1) The proceeds from the sale of the lifetime resident saltwater fishing license and two hundred fifty dollars ($250) of the proceeds from the sale of the combination lifetime freshwater and saltwater fishing, combination lifetime saltwater fishing and hunting, and combination lifetime freshwater and saltwater fishing and hunting licenses, provided in subsections (a), (b), (c), and (d) of Section 9-11-65.2. (2) The proceeds of any gifts, grants, and contributions to the state which are specifically designated for inclusion in the fund. (3) Any other sources as may be specified by law. (b) The fund shall be administered by the Alabama Marine Resources Endowment Fund Board of Trustees, which shall consist of the Director of Finance, the...
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11-81-183
Section 11-81-183 Designation of depository; disposition and disbursement of gross revenue account and special funds by depository. The governing body of the borrower shall designate as depository for the "gross revenue account" and each of the special funds provided for in Section 11-81-181 a bank or trust company duly qualified and doing business within the State of Alabama. The moneys in said account and in each of the said funds shall be received and held by the respective depositories therefor in separate and special accounts as trust funds for the benefit of the borrower and the holders of the bonds and coupons as their respective interests may appear and shall be applied only for the respective purposes specified in the authorizing proceedings or any trust indenture provided for in the authorizing proceedings; provided, that the authorizing proceedings or such trust indenture may provide that any depository for said account or for the said replacement and extension fund shall...
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25-8-32.2
Section 25-8-32.2 Child Labor Administrative Trust Fund. (a) The Child Labor Administrative Trust Fund is established in the State Treasury into which shall be deposited certain assessments under this chapter collected by the department. The fund shall constitute a separate fund to be disbursed by the state Comptroller on order of the secretary. For two years following May 19, 2009, the child labor division of the department shall be funded from the State General Fund after which expenses incurred by the child labor division of the department under the child labor law, including the salaries of all employees, travel cost, and costs of administration and enforcement as may become necessary, either within or without the state, shall be paid from the trust fund in the State Treasury upon warrants of the state Comptroller drawn upon the State Treasury from time to time when vouchers therefor are approved by the secretary. For the two years referred to in the previous sentence, the amount...
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26-16-32
Section 26-16-32 State income tax refund designation program - Disposition of contributions. (a) Each year that the refund designation program established in Section 26-16-31(a), above, is in effect, the Commissioner of the Department of Revenue shall transfer to the Children's Trust Fund an amount equal to the total amount designated by individuals to be paid to the fund under this article, less an amount, equal to not more than three percent of the total of such funds then collected, for the additional cost incurred by the Department of Revenue in collecting and handling such funds which shall be deposited the General Fund of the State Treasury for the use of the Revenue Department. Such deposits shall be made not less than quarterly commencing with the first day such funds are collected from the taxpayer. (b) Moneys contained in the Children's Trust Fund are continuously appropriated to the Child Abuse and Neglect Prevention Board for the purposes set out in Section 26-16-30(f) of...
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32-5A-191.2
Section 32-5A-191.2 Administration and disposition of funds in Alabama Head and Spinal Cord Injury Trust Fund. (a) Beginning October 1, 1994, moneys in the Alabama Head and Spinal Cord Injury Trust Fund shall be distributed to the Division of Rehabilitation Services in the State Department of Education for the following purposes: (1) As a payer of last resort for the costs of care provided in this state for citizens of this state who have survived neuro-trauma with head or spinal cord injuries. Expenditures for spinal cord injury and head injury care shall be made by the Division of Rehabilitation Services according to criteria established by the Alabama Head and Spinal Cord Injury Trust Fund Advisory Board. Expenditures may include but need not be limited to, post acute medical care, rehabilitation therapies, medication, attendant care, home accessibility modification, and equipment necessary for activities of daily living. (2) Public information, prevention education, and research...
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