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19-3D-13
Section 19-3D-13 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION,
EFFECTIVE JANUARY 1, 2019. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. TRUST FOR BENEFICIARY
WITH DISABILITY. (a) In this section the following terms have the following meanings: (1)
BENEFICIARY WITH A DISABILITY. A beneficiary of a first trust who the authorized fiduciary
believes may qualify for governmental benefits based on disability, whether or not the beneficiary
currently receives those benefits or is an individual who has been adjudicated incompetent
or incapacitated. (2) GOVERNMENTAL BENEFITS. Financial aid or services from a state, federal,
or other public agency. (3) SPECIAL-NEEDS FIDUCIARY. With respect to a trust that has a beneficiary
with a disability: (A) a trustee or other fiduciary, other than a settlor, that has discretion
to distribute part or all of the principal of a first trust to one or more current beneficiaries;
(B) if no trustee or fiduciary has discretion under...
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11-101A-10
Section 11-101A-10 Powers of authorizing subdivision. (a) In addition to all other powers that
an authorizing subdivision may have with respect to an authority, any authorizing subdivision
may, with or without consideration and on such terms as its governing body may deem advisable:
(1) Lend, donate, or otherwise contribute money to, or perform services for the benefit of,
an authority. (2) Donate, convey, transfer, lease, or grant to an authority any property of
any kind. (3) Enter into contractual agreements with an authority and with other authorizing
subdivisions obligating the authorizing subdivision to lend, donate, or otherwise contribute
money to, perform services for the benefit of, and to otherwise provide financial support
for an authority. (4) Issue securities of the authorizing subdivision to provide moneys to
make any loan, donation, or contribution provided for in subdivisions (1), (2), and (3). (b)
The obligation of an authorizing subdivision to lend, donate, or...
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19-3B-814
Section 19-3B-814 Discretionary powers; tax savings. (a) Notwithstanding the breadth of discretion
granted to a trustee in the terms of the trust, including the use of such terms as "absolute,"
"sole," or "uncontrolled," the trustee shall exercise a discretionary
power in good faith and in accordance with the terms and purposes of the trust and the interests
of the beneficiaries. (b) Subject to subsection (d), and unless the terms of the trust expressly
indicate that a rule in this subsection does not apply: (1) a person other than a settlor
who is a beneficiary and trustee of a trust that confers on the trustee a power to make discretionary
distributions to or for the trustee's personal benefit may exercise the power only in accordance
with an ascertainable standard; and (2) a trustee may not exercise a power to make discretionary
distributions to satisfy a legal obligation of support that the trustee personally owes another
person. (c) A power whose exercise is limited or prohibited...
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11-101A-8
Section 11-101A-8 Powers of authority. (a) In addition to all other powers granted elsewhere
in this chapter, and subject to the express provisions of its certificate of incorporation,
an authority shall have the following powers, together with all powers incidental thereto
or necessary to the discharge thereof in corporate form: (1) To have succession by its corporate
name for the duration of time, which may be in perpetuity, specified in its certificate of
incorporation, or until dissolved as provided in Section 11-101A-24. (2) To sue and be sued
in its own name in civil suits and actions, and to defend suits and actions against it, subject,
however, to Chapter 93 of this title, which chapter is hereby made applicable to the authority.
(3) To adopt, alter, amend, and repeal bylaws, regulations, and rules for the regulation and
conduct of its affairs and business. (4) To adopt and make use of a corporate seal and to
alter the same at pleasure. (5) To acquire, whether by purchase,...
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11-32-7
Section 11-32-7 Powers of authority. (a) The authority shall exercise powers and duties necessary
to the discharge of its powers and duties in corporate form as follows: (1) Have succession
by its corporate name in perpetuity subject to Section 11-32-20. (2) Sue and be sued in its
own name in civil suits and actions and defend suits against it. (3) Adopt and make use of
a corporate seal and alter the same at its pleasure. (4) Adopt and alter bylaws for the regulation
and conduct of its affairs and business. (5) Acquire, receive, take, by purchase, gift, lease,
devise, or otherwise, and hold property of every description, real, personal, or mixed, whether
located in one or more counties or municipalities and whether located within or outside the
authorizing county. (6) Make, enter into, and execute contracts, agreements, leases, and other
instruments and take other actions as may be necessary or convenient to accomplish any purpose
for which the authority was organized, or exercise any...
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4-3-47
Section 4-3-47 Powers of authority generally. The authority shall have the following powers,
together with all powers incidental thereto or necessary to the discharge thereof in corporate
form: (1) To have succession by its corporate name for the duration of time (which may be
in perpetuity) specified in its certificate of incorporation; (2) To sue and be sued in its
own name in civil actions, excepting actions in tort against the authority; (3) To adopt and
make use of a corporate seal and to alter the same at pleasure; (4) To adopt and alter bylaws
for the regulation and conduct of its affairs and business; (5) To acquire, receive, take
and hold, whether by purchase, option to purchase, gift, lease, devise or otherwise, property
of every description, whether real, personal or mixed, whether in one or more counties and
whether within or without the corporate limits of any authorizing subdivision, and to manage
said property and to develop any property and to sell, exchange, lease or...
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45-46-90.06
Section 45-46-90.06 Powers of the authority. (a) The authority shall have the following powers,
together with all powers incidental thereto or necessary to the discharge thereof in corporate
form: (1) To have succession by its corporate name for the duration of time which may be perpetuity,
subject to Section 45-46-90.18, specified in its certificate of incorporation. (2) To sue
and be sued in its own name in civil suits and actions, excepting actions in tort, and to
defend suits against it. (3) To adopt and make use of a corporate seal and to alter the same
at pleasure. (4) To adopt and alter bylaws for the regulation and conduct of its affairs and
business. (5) To acquire, receive, and take, by purchase, gift, lease, devise, or otherwise,
and to hold property of every description, real, personal, or mixed. (6) To make, enter into,
and execute such contracts, agreements, leases, and other instruments and to take such other
actions as may be necessary or convenient to accomplish any...
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11-49B-7
Section 11-49B-7 Powers of authority. The authority shall exercise, subject to this chapter,
the following powers and duties necessary to the discharge of its powers and duties in corporate
form: (1) To have succession by its corporate name for the duration of time, which may be
perpetual, subject to the provisions of Section 11-49B-19 specified in its certificate of
incorporation. (2) To sue and be sued in its own name in civil suits and actions and to defend
suits against it. (3) To adopt and make use of a corporate seal and to alter the seal at pleasure.
(4) To adopt and alter bylaws for the regulation and conduct of its affairs and business.
(5) To acquire, receive, and take, by purchase, gift, lease, devise, or otherwise, and to
hold property of every description, real, personal, or mixed, whether located in one or more
counties or municipalities and whether located within or outside the authorizing county. (6)
To make, enter into, and execute contracts, agreements, leases, and...
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14-2-21
Section 14-2-21 Bonds - Security. The principal of, premium, if any, and interest on the bonds
of the authority shall be secured by any or all of the following, as the authority may determine:
(1) The rent and revenue for the use of one or more facilities of the authority; (2) The net
rent or sale proceeds from the Kilby property; (3) Any bond proceeds remaining unexpended
upon completion of all facilities to be constructed with such bond proceeds and the payment
of the cost thereof; (4) Any insurance proceeds which the authority may receive by reason
of its ownership of any of the facilities; and (5) Any mortgage upon or security interest
in one or more facilities of the authority, granted in connection with the issuance of such
bonds. The authority shall have authority to transfer and assign any lease of any of the facilities
and any lease or mortgage of the Kilby property as security for the payment of such principal,
premium, if any, and interest. The bonds may be issued under, and...
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23-2-144
Section 23-2-144 Powers of the authority. (a) The authority shall have the following powers:
(1) To adopt bylaws for the regulation of its affairs and the conduct of its business. (2)
To adopt an official seal and alter the same at pleasure. (3) To maintain a principal office
and branch offices at the place or places within the state as it may designate. (4) To sue
and be sued in its own name, including suits in tort. (5) With the consent and approval of
the department, to acquire and construct toll road, bridge, or tunnel projects at locations
as the authority may determine to be desirable, practicable, and economically feasible and
to maintain, repair, and operate the projects. (6) To issue toll road, bridge, or tunnel revenue
bonds of the authority for any of its corporate purposes, payable solely from its tolls, other
revenues, and proceeds of the bonds, and to refund its bonds, all as provided in this article.
No bonds issued under the provisions of this article shall constitute a...
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