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19-2-2
Section 19-2-2 Removal of fiduciary; appointment of successor; accounting by fiduciary. Any
fiduciary engaged in war service may be removed from his office as such upon petition filed
in the proper court having jurisdiction by any person interested in the trust fund or the
estate being administered or by any co-fiduciary or surety, and if the trust has not been
fully executed or the administration of the estate has not been fully completed, the court,
upon such removal, must appoint a successor fiduciary to fill the vacancy caused by such removal
if there is no trust instrument providing a practicable method of appointment. If the court
shall find that, because of the military service of the fiduciary, the stating of an account
at that time is not possible, an accounting by such fiduciary in military service shall not
be a prerequisite to the appointment of a successor fiduciary, and upon the reinstatement
of such fiduciary or at such time as the said court deems meet, such fiduciary...
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19-2-3
Section 19-2-3 Reappointment of removed fiduciary. If any fiduciary in war service be removed
from office and is a competent and suitable person to again serve as such fiduciary at any
time after the termination of his war service, the fiduciary appointed to fill the vacancy
caused by such removal, or his successor, shall be removed from office by the court upon petition
filed by the former fiduciary in war service so removed or by any person interested in the
trust fund or the estate being administered or by any co-fiduciary, and if the trust has not
been fully executed or the administration of the estate has not been fully completed the court,
upon such removal, shall appoint the fiduciary theretofore removed because of his war service
to fill the vacancy caused by the removal of his successor in office if there is no trust
instrument providing a practicable method of appointment. (Acts 1943, No. 460, p. 421, ยง3.)...
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45-37-123.01
Section 45-37-123.01 Definitions. For the purposes of this part, the following terms shall
have the following meanings: (1) ACT. The act adding this part, to be called the General Retirement
System for Employees of Jefferson County Act. (2) ACTIVE MEMBER. An individual who currently
is employed by the county or other entities set forth in subdivision (20) and is making employee
contributions to the system. (3) ACTUARIAL EQUIVALENT. Effective July 30, 1984, or such other
dates as set forth in Exhibit A, which is maintained in the office of the pension board, a
form of benefit differing in time, period, or manner of payment from a specific benefit provided
under the plan but having the same value when computed using the mortality tables, the interest
rate, and any other assumptions last adopted by the pension board, which assumptions shall
clearly preclude any discretion in the determination of the amount of a member's benefit.
(4) ACTUARIAL GAIN. As defined in Section...
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37-11A-1
Section 37-11A-1 Execution and text of compact. The Governor, on behalf of this state, shall
execute a compact, in substantially the following form, with the State of Mississippi, and
the Legislature approves and ratifies the compact in the form substantially as follows: Northeast
Mississippi - Northwest Alabama Railroad Authority Compact. The contracting states solemnly
agree: Article I. The purpose of this compact is to promote and develop trade, commerce, industry,
and employment opportunities for the public good and welfare in northeast Mississippi and
northwest Alabama through the establishment of a joint interstate authority to acquire certain
railroad properties and facilities which the operator thereof has notified the Interstate
Commerce Commission of an intention to abandon and which are located in any of Franklin, Marion,
or Winston Counties, Alabama or in Alcorn or Tishomingo Counties, Mississippi. Article II.
This compact shall become effective immediately as to the State...
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19-3B-802
Section 19-3B-802 Duty of loyalty. (a) A trustee shall administer the trust solely in the interests
of the beneficiaries. (b) Subject to the rights of persons dealing with or assisting the trustee
as provided in Section 19-3B-1012, a sale, encumbrance, or other transaction involving the
investment or management of trust property entered into by the trustee for the trustee's own
personal account or which is otherwise affected by a conflict between the trustee's fiduciary
and personal interests is voidable by a beneficiary affected by the transaction unless: (1)
the transaction was authorized by the terms of the trust; (2) the transaction was approved
by the court; (3) the beneficiary did not commence a judicial proceeding within the time allowed
by Section 19-3B-1005; (4) the beneficiary consented to the trustee's conduct, ratified the
transaction, or released the trustee in compliance with Section 19-3B-1009; or (5) the transaction
involves a contract entered into or claim acquired by...
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19-3B-816
Section 19-3B-816 Specific powers of trustee. (a) Without limiting the authority conferred
by Section 19-3B-815, a trustee may: (1) collect trust property and accept or reject additions
to the trust property from a settlor or any other person, including, but not being limited
to, the authority to receive, collect, hold, and retain common or preferred stock or other
interests in the trustee or any related party; (2) acquire or sell property, for cash or on
credit, at public or private sale; (3) exchange, partition, or otherwise change the character
of trust property; (4) deposit trust money in an account in a regulated financial-service
institution; (5) borrow money, with or without security, and mortgage or pledge trust property
for a period within or extending beyond the duration of the trust; (6) with respect to an
interest in a proprietorship, partnership, limited liability company, business trust, corporation,
or other form of business or enterprise, continue the business or other...
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11-44D-4
Section 11-44D-4 Mayor-council form of government. If a majority of the qualified electors
voting in the referendum provided herein choose a mayor-council form of government, the following
provisions of this chapter shall be applicable: (1) The municipality shall thereafter and
as provided in this chapter be governed by a mayor elected at-large and a five-member council
elected from single-member districts, which municipality shall have the same powers and duties
as herein enumerated and as other mayor-council municipalities organized under Chapter 43,
Title 11, and any other powers and duties not inconsistent with this chapter which may be
now or hereafter granted to such municipality. (2) The council shall include five members
who shall be elected from districts, which shall be, as near as practicable, of equal population
according to the last federal decennial census, but not more than five percent, more or less,
than the average of the five districts. (3) The council members shall...
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26-1A-301
Section 26-1A-301 Power of attorney form. A document substantially in the following form may
be used to create a power of attorney that has the meaning and effect prescribed by this chapter.
ALABAMA POWER OF ATTORNEY FORM IMPORTANT INFORMATION This power of attorney authorizes another
person (your agent) to make decisions concerning your property for you (the principal). Your
agent will be able to make decisions and act with respect to your property (including your
money) whether or not you are able to act for yourself. The meaning of authority over subjects
listed on this form is explained in the Alabama Uniform Power of Attorney Act, Chapter 1A,
Title 26, Code of Alabama 1975. This power of attorney does not authorize the agent to make
health care decisions for you. Such powers are governed by other applicable law. You should
select someone you trust to serve as your agent. Unless you specify otherwise, generally the
agent's authority will continue until you die or revoke the power...
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40-27-1
Section 40-27-1 Compact adopted; terms. The following Multistate Tax Compact is hereby approved,
adopted and enacted into law by the State of Alabama: Multistate Tax Compact Article I. Purposes.
The purposes of this compact are to: 1. Facilitate proper determination of state and local
tax liability of multistate taxpayers, including the equitable apportionment of tax bases
and settlement of apportionment disputes. 2. Promote uniformity or compatibility in significant
components of tax systems. 3. Facilitate taxpayer convenience and compliance in the filing
of tax returns and in other phases of tax administration. 4. Avoid duplicative taxation. Article
II. Definitions. As used in this compact: 1. "State" means a state of the United
States, the District of Columbia, the Commonwealth of Puerto Rico, or any territory or possession
of the United States. 2. "Subdivision" means any governmental unit or special district
of a state. 3. "Taxpayer" means any corporation, partnership, firm,...
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5-11A-37
Section 5-11A-37 Appointment of agent. Regardless of objection to any fiduciary transfer as
provided in Section 5-11A-33 and the outcome thereof, and notwithstanding any procedure under
this article, any bank may appoint a related bank, trust company or trust department as its
agent for the performance of all acts, obligations and responsibilities of the bank with respect
to any fiduciary account. In such an event, the appointing bank shall remain fully responsible
and liable with respect to all actions of the related bank, trust company or trust department
as if performed by the appointing bank itself. No such agency relationship shall: (1) Be deemed
an impermissible delegation of responsibility or duty by the appointing bank; (2) Constitute
a resignation or disqualification of the appointing bank as fiduciary or relinquishment of
trust powers by the appointing bank; or (3) Require the consent of any person, entity, court
or other governmental authority. (Acts 1989, No. 89-539, p....
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