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26-2A-145
Section 26-2A-145 Conservator's standard of care and performance. A conservator, in relation
to powers conferred by this division, or implicit in the title acquired by virtue of the proceeding,
shall observe the standards in dealing with the estate of the protected person that would
be observed by a prudent person dealing with the property of another, and if the conservator
has special skills or is appointed conservator on the basis of representations of special
skills or expertise, the conservator is under a duty to use those skills. (Acts 1987, No.
87-590, p. 975, §2-316.)...
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7-8-102
Section 7-8-102 Definitions. (a) In this article: (1) "Adverse claim" means a claim
that a claimant has a property interest in a financial asset and that it is a violation of
the rights of the claimant for another person to hold, transfer, or deal with the financial
asset. (2) "Bearer form," as applied to a certificated security, means a form in
which the security is payable to the bearer of the security certificate according to its terms
but not by reason of an indorsement. (3) "Broker" means a person defined as a broker
or dealer under the federal securities laws, but without excluding a bank acting in that capacity.
(4) "Certificated security" means a security that is represented by a certificate.
(5) "Clearing corporation" means: (i) a person that is registered as a "clearing
agency" under the federal securities laws; (ii) a federal reserve bank; or (iii) any
other person that provides clearance or settlement services with respect to financial assets
that would require it to...
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19-3B-103
Section 19-3B-103 Definitions. In this chapter: (1) ACTION, with respect to an act of a trustee,
includes a failure to act. (2) ASCERTAINABLE STANDARD means a standard relating to an individual's
health, education, support, or maintenance within the meaning of Section 2041(b)(1)(A) or
2514(c)(1) of the Internal Revenue Code of 1986, as in effect on January 1, 2007, or as later
amended. (3) BENEFICIARY means a person that: (A) has a present or future beneficial interest
in a trust, vested or contingent; or (B) in a capacity other than that of trustee, holds a
power of appointment over trust property. (4) CHARITABLE TRUST means a trust, or portion of
a trust, created for a charitable purpose described in Section 19-3B-405(a). (5) CONSERVATOR
means a person appointed by the court to administer the estate of a minor or adult individual.
(6) ENVIRONMENTAL LAW means a federal, state, or local law, rule, regulation, or ordinance
relating to protection of the environment. (7) GUARDIAN means a...
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26-2A-146
Section 26-2A-146 Inventory and records. (a) Within 90 days after appointment, each conservator
shall prepare and file with the appointing court a complete inventory of the estate subject
to the conservatorship together with an oath or affirmation that the inventory is believed
to be complete and accurate as far as information permits. The conservator shall provide a
copy thereof to the protected person if practicable and the person has attained the age of
14 years. A copy also shall be provided to any guardian or parent with whom the protected
person resides. (b) The conservator shall keep suitable records of the administration and
exhibit the same on request of any interested person. (Acts 1987, No. 87-590, p. 975, §2-317.)...
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26-2A-131
Section 26-2A-131 Protective proceedings; jurisdiction of business affairs of protected persons.
Subject to Section 26-2A-31, after the service of notice in a proceeding seeking the appointment
of a conservator or other protective order and until termination of the proceeding, the court
in which the petition is filed has: (1) Exclusive jurisdiction to determine the need for a
conservator or other protective order until the proceedings are terminated; and (2) Exclusive
jurisdiction to determine how the estate of the protected person which is subject to the laws
of this state must be managed, expended, or distributed to or for the use of the protected
person, the protected person's dependents, or other claimants. (Acts 1987, No. 87-590, p.
975, §2-302; Act 2010-500, p. 782, §2.)...
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26-2A-147
Section 26-2A-147 Accounts. Each conservator shall account to the court for administration
of the conservatorship upon resignation or removal and at other times as the court may direct,
but if not otherwise directed, the conservator must, at least once in three years, account
to the court. If the conservator shall die before making the accounting, the conservator's
personal representative will make the accounting, or if no personal representative has been
appointed, the sureties on the conservator's bond may proceed to make the accounting. On termination
or removal of the protected person's minority or disability, a conservator shall account to
the court or to the formerly protected person. An order after notice and hearing allowing
an intermediate account of a conservator is a final adjudication as to liabilities concerning
the matters considered in connection therewith. Thereafter, at any time prior to final settlement,
the account may be reopened by the court on motion or petition...
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26-2B-102
Section 26-2B-102 Definitions. In this chapter, the following terms shall have the following
meanings: (1) ADULT. An individual who has attained 19 years of age or who by statute has
otherwise been deemed to be an adult under the laws of the State of Alabama or the laws of
another state. (2) CONSERVATOR. A person appointed by the court to administer the property
of an adult, including a person appointed under Section 26-2A-20 of the Alabama Uniform Guardianship
and Protective Proceedings Act. (3) COURT. A probate court of this state and includes an appropriate
court of another state. (4) GUARDIAN. A person appointed by the court to make decisions regarding
the person of an adult, including a person appointed under Section 26-2A-20 of the Alabama
Uniform Guardianship and Protective Proceedings Act. (5) GUARDIANSHIP. An order appointing
a guardian. (6) GUARDIANSHIP PROCEEDING. A judicial proceeding in which an order for the appointment
of a guardian is sought or has been issued. (7)...
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40-14B-1
Section 40-14B-1 Definitions. As used in this chapter, the following terms shall have the following
meanings: (1) AFFILIATE. An affiliate of another person shall include any of the following:
a. A person who directly or indirectly either: 1. Beneficially owns 15 percent or more of
the outstanding voting securities or other voting ownership interests of the other person,
whether through rights, options, convertible interests, or otherwise; or 2. Controls or holds
power to vote 15 percent or more of the outstanding voting securities or other voting ownership
interests of the other person. b. A person owning 15 percent or more of the outstanding voting
securities or other voting ownership interests of which are directly or indirectly either:
1. Beneficially owned by the other person, whether through rights, options, convertible interests,
or otherwise; or 2. Controlled or held with power to vote by the other person. c. A partnership
or limited liability company in which the other person...
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43-2-692
Section 43-2-692 Petition for summary distribution; when surviving spouse or distributee entitled
to personal property without administration. (a) The surviving spouse, if there is one, otherwise
the distributees of an estate of personal property only, may initiate a proceeding for summary
distribution of the estate by filing a verified petition in the office of the judge of probate
of the county in which the decedent was domiciled at death alleging the conditions provided
in subsection (b). The petition shall include a description of the estate of the decedent.
No bond shall be required to be filed with the petition. (b) The surviving spouse or distributee
shall have a defeasible right to the personal property of the decedent without awaiting the
appointment of a personal representative or the probate of a will if all of the following
conditions exist: (1) The value of the entire estate does not exceed twenty-five thousand
dollars ($25,000). This figure shall be adjusted annually for...
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8-6-2
Section 8-6-2 Definitions. When used in this article, unless the context otherwise requires,
the following terms shall have the meanings respectively ascribed to them by this section:
(1) COMMISSION or SECURITIES COMMISSION. The securities commission. (2) AGENT. Any individual
other than a dealer who represents a dealer or issuer in effecting or attempting to effect
sales of securities, but such term does not include an individual who represents an issuer
in: a. Effecting a transaction in a security exempted by subdivisions (1), (2), (3), (4),
(9) or (10) of Section 8-6-10; b. Effecting transactions exempted by Section 8-6-11; or c.
Effecting transactions with existing employees, partners, or directors of the issuer if no
commission or other remuneration is paid or given directly or indirectly for soliciting any
person in this state. A partner, officer, or director of a dealer or issuer is an agent if
he otherwise comes within this definition. (3) DEALER. Any person engaged in the...
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