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41-14-33
Section 41-14-33 Contracts covering time deposits, open account; early withdrawal; apportionment;
payment and rate of interest. (a) The State Treasurer is authorized to enter into contracts
with the state depositories for the deposit of state funds in time deposits, open account,
having maturities of 91 days, six months, or one year; provided that any such contract for
a time deposit, open account, having a maturity of 91 days shall provide for early withdrawal
of funds upon written notice delivered at least 14 days (or the minimum period of time as
is prescribed by applicable banking regulation then in effect) prior to the date of withdrawal.
(b) The State Treasurer shall apportion the time deposits, open account, among state depositories,
giving preference to banks that are located in Alabama and giving due consideration to the
activities of the various banking accounts maintained therein, the reasonable value of the
banking services rendered or to be rendered the state by depositary...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-14-33.htm - 2K - Match Info - Similar pages
34-27A-27
Section 34-27A-27 Alabama Real Estate Appraisers Board Fund. There is established a separate
special revenue trust fund in the State Treasury to be known as the Alabama Real Estate Appraisers
Board Fund. All receipts collected by the board under this article and any interest earned
on funds in the fund shall be deposited in this fund and used only to carry out this article.
The receipts shall be disbursed only by warrant of the state Comptroller upon the State Treasurer,
upon itemized vouchers approved by the executive director of the board. No funds shall be
withdrawn or expended except as budgeted and allotted according to Sections 41-4-80 through
41-4-96 and 41-19-1 through 41-19-12, inclusive, and only in amounts as stipulated in the
general appropriations bill or other appropriate bills. (Acts 1990, No. 90-639, p. 1175, §27;
Acts 1994, No. 94-117, p. 128, §1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/34-27A-27.htm - 1K - Match Info - Similar pages
5-17-4
Section 5-17-4 Powers generally. (a) A credit union shall have all of the following powers:
(1) To receive the savings of its members either as payment on shares or as deposits, including
the right to conduct Christmas clubs, vacation clubs, and other thrift organizations within
the membership. (2) To accept deposits of fiduciary funds if a member is the beneficiary,
trustee, or personal representative and if the funds are part of the estate of a deceased
member. (3) To make loans to members. (4) To make loans to other credit unions, including
credit union service organizations. (5) To purchase loans from financial institutions, provided
a purchased loan is of the nature and type that the credit union could have originated itself.
(6) To make loans to a cooperative society or other organizations having membership in the
credit union. (7) To deposit funds in state and national banks, savings and loan associations,
the accounts which are insured by the Federal Deposit Insurance...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-17-4.htm - 3K - Match Info - Similar pages
40-10-29
Section 40-10-29 Deeds - Delivered to purchaser. After the expiration of three years from the
date of the sale of any real estate for taxes, the judge of probate then in office must execute
and deliver to the purchaser, other than the state, or person to whom the certificate of purchase
has been assigned, upon the return of the certificate, proof that all ad valorem taxes have
been paid, and payment of a fee of five dollars ($5) to the judge of probate, a deed to each
lot or parcel of real estate sold to the purchaser and remaining unredeemed, including therein,
if desired by the purchaser, any number of parcels, or lots purchased by him at such sale;
and such deed shall convey to and vest in the grantee all the right, title, interest and estate
of the person whose duty it was to pay the taxes on such real estate and the lien and claim
of the state and county thereto, but it shall not convey the right, title or interest of any
reversioner or remainderman therein. (Acts 1935, No. 194,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-10-29.htm - 1K - Match Info - Similar pages
41-10-420
Section 41-10-420 Legislative intent. The Legislature finds that the Real Estate Commission
has acquired certain real property in Montgomery, Alabama, title to which is in the name of
the State of Alabama, for the purpose of erecting a building to house the offices of the Real
Estate Commission. The Real Estate Commission has also received authority from the Legislature
to expend certain of its funds in the construction of such a facility. The Legislature further
finds that the Real Estate Commission is unable to complete this building project without
additional funding provided through temporary financing arrangements. Therefore, it is in
the best interest of the State of Alabama and Real Estate Commission to establish a public
corporation with the powers and authority necessary to construct and lease to the commission
a facility adequate to serve the needs of the commission. (Acts 1990, No. 90-293, p. 396,
§1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-420.htm - 1K - Match Info - Similar pages
10A-1-3.41
Section 10A-1-3.41 Certificated or uncertificated ownership interest. (a) Ownership interests
in a domestic entity may be certificated or uncertificated. (b) The ownership interests in
a business corporation, real estate investment trust, or professional corporation must be
certificated unless the governing documents of the entity or a resolution adopted by the governing
authority of the entity states that the ownership interests are uncertificated. If a domestic
entity changes the form of its ownership interests from certificated to uncertificated, a
certificated ownership interest subject to the change becomes an uncertificated ownership
interest only after the certificate is surrendered to the domestic entity. (c) Ownership interests
in a domestic entity, other than a domestic entity described in subsection (b), are uncertificated
unless this title or the governing documents of the domestic entity state that the interests
are certificated. (d) Unless an entity's chapter specifically...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-1-3.41.htm - 1K - Match Info - Similar pages
34-27-32
Section 34-27-32 Requirements for license; application; place of business; branch offices;
multiple brokers; fees. (a) A license for a broker or a salesperson shall be registered to
a specific real estate office and shall be issued only to, and held only by, a person who
meets all of the following requirements: (1) Is trustworthy and competent to transact the
business of a broker or salesperson in a manner that safeguards the interest of the public.
(2) Is a person whose application for real estate licensure has not been rejected in any state
on any grounds other than failure to pass a written examination within the two years prior
to the application for real estate licensure with Alabama. If the applicant's rejection for
real estate licensure in any state is more than two years from the date of application for
licensure with Alabama, then the applicant may not be issued an Alabama real estate license
without the approval of the commissioners. (3) Is a person whose real estate license...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/34-27-32.htm - 11K - Match Info - Similar pages
5-25-2
Section 5-25-2 Definitions. For purposes of this chapter, the following terms shall have the
following meanings: (1) BORROWER. A natural person who submits an application for a loan secured
by a first or subordinate mortgage or deed of trust on a single-family to four-family home
to be occupied by the borrower as the borrower's primary residence. (2) COMMITMENT. A written
statement by a lender that sets forth the terms and conditions upon which the lender is willing
to make a particular mortgage loan to a particular borrower. A good faith estimate provided
under the Federal Real Estate Settlement Procedures Act is not a commitment for the purposes
of Act 2009-624. (3) CONTROL. The direct or indirect possession of the power to direct or
cause the direction of the management and policies of a person, whether through the ownership
of voting securities, by contract, or otherwise, and shall include the terms controlling,
controlled by, and under common control with. (4) DEPARTMENT. The...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-25-2.htm - 4K - Match Info - Similar pages
16-18B-14
Section 16-18B-14 Exemption from taxes; use of bonds as security; investment of funds. All
bonds (including refunding bonds) issued pursuant hereto, and the income therefrom (including
the interest income thereon) shall be free from all taxation by the state or any county, municipality,
or other political subdivision or instrumentality of the state, excepting inheritance, estate,
and gift taxes. Any bonds issued by the corporation may be used by the holder thereof as security
for any funds belonging to the state or to any instrumentality or agency of the state in any
instance where security for such deposits may be required by law. Unless otherwise directed
by the court having jurisdiction thereof, or by the document that is the source of authority,
a trustee, executor, administrator, guardian, or one acting in any other fiduciary capacity
may, in addition to any other investment powers conferred by law and with the exercise of
reasonable business prudence, invest trust and other...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-18B-14.htm - 1K - Match Info - Similar pages
5-11A-5
Section 5-11A-5 Deposit of security for operation of trust business - Amount required and form;
charges against deposit. Any corporation organized and operating as a trust company or as
a bank authorized by law to do a trust business may deposit with the State Treasurer or elsewhere
United States bonds, bonds, notes or debentures of any federal agency such as a federal land
bank, banks for cooperatives, Farm Home Administration, Federal National Mortgage Association,
etc., Alabama bonds, bonds of any city or county in the State of Alabama or mortgages which
are first liens on real estate, worth in each case double the face of the mortgage, situated
in this state, to an amount not less than $25,000.00, and may increase said deposit from time
to time or reduce the same to an amount not less than $25,000.00, or may withdraw the deposit
entirely, provided such trust companies or banks have made final settlement and accounted
for all assets in their possession and under their control by...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-11A-5.htm - 1K - Match Info - Similar pages
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