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16-18-7
Section 16-18-7 Powers of authority. 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,
subject to the provisions of Section 16-18-21 specified in its certificate of incorporation;
(2) To sue and be sued in its own name in civil actions and to defend actions 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, wherever the same might be located; (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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27-44-3
Section 27-44-3 Scope of chapter. (a) This chapter shall provide coverage for the policies
and contracts specified in subsection (b) as follows: (1) To persons who, regardless of where
they reside (except for non-resident certificate holders under group policies or contracts),
are the beneficiaries, assignees, or payees of the persons covered under subdivision (2).
(2) To persons who are owners of or certificate holders under the policies or contracts, other
than structured settlement annuities, and in each case who are either of the following: a.
Residents b. Not residents, but only under all of the following conditions: 1. The insurer
that issued the policies or contracts is domiciled in this state. 2. The states in which the
persons reside have associations similar to the association created by this chapter. 3. The
persons are not eligible for coverage by an association in any other state due to the fact
the insurer was not licensed in the state at the time specified in the state's...
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41-29-504
Section 41-29-504 Details respecting the bonds. The bonds of the authority shall be signed
by its president and attested by its secretary, and the seal of the authority shall be affixed
thereto or a facsimile of such seal shall be printed or otherwise reproduced thereon; provided,
that: (a) a facsimile of the signature of one, but not both, of the officers may be printed
or otherwise reproduced on any such bonds in lieu of being manually subscribed thereon, and
(b) a facsimile of the signatures of both of the officers may be printed or otherwise reproduced
on such bonds in lieu of being manually affixed thereof if the authority, in its proceedings
with respect to issuance of the bonds, provides for manual authentication of such bonds and
the secretary designates a trustee or paying agent or named individuals who are employees
of the state and who are assigned to the finance department or the state treasurer's office
of the state to authenticate the bonds. Any bonds of the authority may...
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11-61A-15
Section 11-61A-15 Issuance of bonds. (a) The authority may issue bonds under and secured by
an indenture between the authority and a trustee. The trustee may be a private person or corporation,
including, but not limited to, any trust company or bank having trust powers, whether the
bank or trust company is located within or without the state. (b) In any indenture or resolution
providing for the issuance of bonds, the authority may pledge, for payment of the principal
of and the interest on the bonds, any of its revenues to which its right then exists or may
subsequently come into existence and may assign, as security for the payment, any of its leases,
franchises, permits, and contracts. In any such indenture the authority may mortgage any of
its properties, including any properties subsequently acquired by it. Any pledge of revenues
shall be valid and binding from the time it is made, and the revenues pledged and subsequently
received by the authority, and any property of the...
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16-17-7
Section 16-17-7 Powers of authority. 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,
subject to the provisions of Section 16-17-19) specified in its certificate of incorporation;
(2) To sue and be sued in its own name in civil actions and to defend actions 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,
hold, receive and take by purchase, gift, lease, devise or otherwise, and to sell, transfer
and convey, property of every description, real, personal or mixed, wherever the same might
be located; (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...
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24-1A-5
Section 24-1A-5 Powers of authority. The authority shall have the following powers: (1) To
have succession by its corporate name until the principal of and interest on the bonds shall
have been fully paid and until it shall have been dissolved as provided in this chapter; (2)
To sue and be sued and to prosecute and defend in any court having jurisdiction of the subject
matter and of the parties thereto; (3) To adopt and use a corporate seal and to alter the
seal at pleasure; (4) To establish a fiscal year; (5) To maintain an office in the City of
Montgomery; (6) To adopt, and from time to time amend and repeal, bylaws and rules and regulations,
not inconsistent with this chapter, to carry into effect the powers and purposes of the authority
in the conduct of its business; (7) To purchase mortgage loans from mortgage lenders; (8)
To contract with mortgage lenders for the origination of, or the servicing, of mortgage loans
to be made by such mortgage lenders and the servicing of the...
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27-15-28.1
Section 27-15-28.1 Standard nonforfeiture law for individual deferred annuities - Annuity contracts
issued by election under this section until June 30, 2006. (a) This section shall be known
as the standard nonforfeiture law for individual deferred annuities. (b) This section shall
not apply to any reinsurance group annuity purchased under a retirement plan or plan of deferred
compensation established or maintained by an employer (including a partnership or sole proprietorship)
or by an employee organization, or by both, other than a plan providing individual retirement
accounts or individual retirement annuities under Section 408 of the Internal Revenue Code,
as now or hereafter amended, premium deposit fund, variable annuity, investment annuity, immediate
annuity, any deferred annuity contract after annuity payments have commenced or reversionary
annuity, nor to any contract which shall be delivered outside this state through an agent
or other representative of the company issuing...
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2-3A-7
Section 2-3A-7 Powers of authority; open meetings. (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 the provisions of Section 2-3A-14) 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 same
at pleasure; (4) To adopt, alter and repeal bylaws, not inconsistent with the provisions of
this article, for the regulation and conduct of its affairs and business; (5) To loan its
funds to one or more persons to be used by such persons to pay the costs of agricultural operations,
such loans to be on such terms and conditions, and for such period of time, and secured or
evidenced by such mortgages, deeds of trust, notes, debentures,...
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41-10-28
Section 41-10-28 Execution of bonds and interest coupons; form, terms, denominations, etc.,
of bonds; sale; refunding bonds; liability upon bonds; pledges of certain funds as security
for payment of principal and interest on bonds generally; bonds to be deemed negotiable instruments;
bonds and income therefrom exempt from taxation; use of bonds as security for deposits of
funds of state, etc.; investment of certain state funds and private trust funds in bonds;
public hearing or consent of Department of Finance, etc., not a prerequisite to issuance of
bonds. The bonds of the authority shall be signed by its president and attested by its secretary,
and the seal of the authority shall be affixed thereto, and any interest coupons applicable
to such bonds shall be signed by the president; provided, that a facsimile of the signature
of one, but not both, of said officers may be printed or otherwise reproduced on any such
bonds in lieu of being manually subscribed thereon, a facsimile of the...
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11-85-107
Section 11-85-107 Bonds - Authentication; redemption; sale; refunding; use of proceeds; security;
investment of funds. The bonds of the authority shall be signed by its president and attested
by its secretary and the seal of the authority shall be affixed thereto or a facsimile of
such seal shall be printed or otherwise reproduced thereon; provided, that a facsimile of
the signature of one, but not both, of said officers may be printed or otherwise reproduced
on any such bonds in lieu of being manually subscribed thereon and a facsimile of the signatures
of both of the officers may be printed or otherwise reproduced on such bonds in lieu of being
manually affixed thereof if the authority, in its proceedings with respect to issuance of
the bonds, provides for manual authentication of such bonds. The State Treasurer shall be
registrar, transfer agent, and paying agent for the bonds. The State Treasurer may designate
named individuals who are employees of the state and who are assigned to...
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