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11-54B-9
Section 11-54B-9 Collection of special assessment; procedures; claim of lien; interest, penalties,
and fees. (a) A self-help business improvement district ordinance shall provide that the special
assessment levied on the owners of the real property located within the geographical area
of the district shall be collected by the district management corporation. The collection
procedures utilized by the district management corporation shall include the mailing of a
notice of the special assessment to the person shown as owner of the property on the records
of the tax assessor in the following manner: (1) After October 1 of each year, the district
management corporation may levy the special assessment for services to be provided during
the following calendar year. (2) The assessment shall be due on December 1 and delinquent
on January 1 following the October levy. (3) Upon delinquency, interest and penalties may
be assessed in the amounts provided in subsection (d). (b) Notwithstanding...
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11-54B-10
Section 11-54B-10 Amendment of self-help business improvement district ordinance. (a) Except
as provided in subsection (b), the governing body of the municipality may amend a self-help
business improvement district ordinance upon the written request of the district management
corporation or a representative group of the owners of the real property located within the
geographical area of the district. Such request must specify the desired amendment, which
should be made by the governing body of the municipality to the self-help business improvement
district ordinance. If such request is made by a representative group of owners of the real
property located within the geographical area of the district, such request must also include
the signatures of the owners of real property which comprises at least two-thirds of the total
fair market value of all real property located in the district, determined pursuant to the
provisions of subsection (a) of Section 11-54B-5. (b) The governing body...
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10A-2-6.40
Section 10A-2-6.40 Distributions to shareholders. REPEALED IN THE 2019 REGULAR SESSION BY ACT
2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) A board
of directors may authorize and the corporation may make distributions subject to restriction
by the articles of incorporation and the limitation in subsection (c). (b) If the board of
directors does not fix the record date for determining shareholders entitled to a distribution
other than one involving a repurchase or reacquisition of shares, it is the date the board
of directors authorizes the distribution. (c) No distribution may be made if, after giving
it effect: (1) The corporation would not be able to pay its debts as they become due in the
usual course of business; or (2) The corporation's total assets would be less than the sum
of its total liabilities plus, unless the articles of incorporation permit otherwise, the
amount that would be needed, if the corporation were to be dissolved at the time...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-6.40.htm - 3K - Match Info - Similar pages
5-7A-62
Section 5-7A-62 Application to convert charter; written plan of conversion; authorizing resolution;
submission to superintendent; fee; tentative approval; vote of stockholders or members; directors;
articles of incorporation and bylaws; statement of superintendent's objections; amendment;
appeal of disapproval; application to FDIC; final approval and permit. Any savings institution
may apply to the superintendent for permission to convert its charter in order to do business
as a state chartered bank in accordance with the following procedures: (1) The board of directors
shall approve a written plan of conversion, the application for conversion and shall adopt
an authorizing resolution, all by a vote of a majority of all the directors. The plan of conversion
shall include a statement of: a. The proposed organization and management structure of the
resulting bank if the application were approved, and the proposed name under which it would
do business as a bank; b. The method and time...
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11-54B-48
Section 11-54B-48 Collection of special assessment. (a) The self-help business improvement
district ordinance adopted by the municipality pursuant to Section 11-54B-46 shall provide
that the special assessment levied on the owners of the real property located within the geographical
area of the district shall be collected by the district management corporation, by the offices
of the municipal revenue department, or by the offices of the revenue commissioner, who may
be compensated for the service. Except in the case of an assessment against a designated class
of business, the ordinance shall also provide that the amount of any outstanding special assessment
levied on a parcel of real property, together with any accrued interest and penalties, shall
constitute a lien on the property. The lien shall take precedence over all other liens, whether
created prior or subsequent to the date of the special assessment, except a lien for any of
the following: (1) State, county, or municipal taxes....
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11-54B-49
Section 11-54B-49 Amendment of the self-help business improvement district ordinance. (a) The
governing body of the municipality may amend an ordinance relating to the self-help business
improvement district upon the written request of a representative group of the owners of the
nonexempt real property located within the geographical area of the district. The request
shall specify the desired amendment or amendments which should be made by the governing body
of the municipality to the self-help business improvement district ordinance. The request
shall also include the signatures of the owners of the nonexempt real property comprising
at least 60 percent of the total fair market value of all real property located in the district,
or the owners of at least 50 percent of the parcels of property located within the district;
or, alternatively with respect to a district funded by assessments against a particular class
of businesses, the signatures of the owners of businesses, consistent...
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22-21-358
Section 22-21-358 Powers of authorities. In addition to all other powers at any time conferred
on it by law, and subject to any express provisions of its certificate of incorporation or
certificate of reincorporation to the contrary, an authority shall (to the extent at the time
not prohibited by the Constitution of Alabama) have the following powers, together with all
powers incidental thereto or necessary to the discharge thereof in corporate form: (1) To
participate as a shareholder in a corporation, as a joint venturer in a joint venture, as
a general or limited partner in a limited partnership or a general partnership, as a member
in a nonprofit corporation or as a member of any other lawful form of business organization,
which provides health care or engages in activities related thereto; (2) To make or arrange
for loans, contributions to capital and other debt and equity financing for the activities
of any corporation of which such authority is a shareholder, any joint venture...
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11-54B-44
Section 11-54B-44 Requirements of a request for the creation of a self-help business improvement
district. A request for the creation of a self-help business improvement district shall contain
all of the following: (1) The signatures of a representative group of the owners of the nonexempt
real property located within the geographical area of the proposed district. The group shall
include the signatures of the owners of the nonexempt real property comprising at least 60
percent of the total fair market value of all nonexempt real property located in the proposed
district and the signature of an owner of at least 50 percent of the parcels of property located
within the proposed district. The county property tax assessment records shall determine ownership
of real property and the fair market value. When record title to real property is vested in
a public corporation or authority under a bond financing plan provided for by statute, the
beneficial user of the real property in which title...
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11-54B-5
Section 11-54B-5 Requirements of request for creation of self-help business improvement district.
A request for the creation of a self-help business improvement district must contain the following:
(a) The signatures of a representative group of the owners of the real property located within
the geographical area of the proposed district. The group must include the signatures of the
owners of real property which comprises at least two-thirds of the total fair market value
of all real property located in the proposed district. Ownership of real property and the
fair market value thereof shall be determined by the county property tax assessment records.
When record title to real property is vested in a public corporation or authority under a
bond financing plan provided for by statute, the beneficial user of the real property in which
title may ultimately be vested by purchase shall be deemed the owner of such real property
for purposes of this article. (b) An accurate description,...
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11-50-525
Section 11-50-525 Board of directors. The government of the corporation shall be vested in
the board, which may by resolution exercise or provide for the exercise of all the powers
of the corporation. The board shall be composed of one director from each municipality located
in the power district having a population of 1,000 or more inhabitants according to the last
or any future federal census, whose election shall be certified to the corporation by the
clerk of such municipality as hereinafter provided. The governing body of each such municipality
having such population may elect a director from such municipality. The election of each such
director shall be certified to the corporation by the clerk of the municipality whose governing
body shall make such election, as and when any such election shall be so made. The directors
so certified shall constitute the board, and a majority thereof at any time existing shall
constitute a quorum of the board for the transaction of business. The...
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