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38-9B-6
Section 38-9B-6 Rights and interests of life beneficiaries and contributors. (a) No life beneficiary
shall have any vested or property rights or interests in the AFT Trust, nor shall any life
beneficiary have the power to anticipate, assign, convey, alienate, or otherwise encumber
any interest in the income or principal of the AFT Trust nor shall the income or principal
be or any interest of any life beneficiary thereunder be liable for any debt incurred by the
life beneficiary, nor shall the principal or income of the AFT Trust Fund be subject to seizure
by any creditor of any life beneficiary under any writ or proceeding in law or in equity.
(b) Except for the right of a contributor who is not and whose spouse is not a life beneficiary
to revoke any contribution made to the AFT Trust, pursuant to subdivision (5) of subsection
(c) of Section 38-9B-5, neither the settlor, contributor, nor any acting co-trustee has the
right to sell, assign, convey, alienate, or otherwise encumber, for...
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40-13-6
Section 40-13-6 Distribution of tax proceeds. (a) In each fiscal year when the funds then on
deposit in the special fund or funds created for retirement of the bonds equal the amount
needed to pay all the principal and interest becoming payable on the bonds within the succeeding
12 months and the funds then on deposit in the reserve fund or funds created for the bonds
equal the maximum principal and interest becoming due on the bonds in any one year, the severance
tax proceeds remaining in the Alabama State Docks Bulk Handling Facility Trust Fund, shall
be distributed as provided herein; provided however, that if at the end of any fiscal year
of the state, beginning with the fiscal year ending September 30, 1987, the Director of the
Alabama State Docks Department shall have notified the Director of Finance in writing, at
least five days prior to the close of the fiscal year, that the revenues to be derived by
the Alabama State Docks Department from the operations of its coal handling...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-13-6.htm - 13K - Match Info - Similar pages
40-18-140
Section 40-18-140 Contribution designations. (a)(1) Each Alabama resident individual income
taxpayer desiring to contribute to any of the programs listed in subsection (b) may designate
an amount of his or her refund, rounded off in whole dollars, in an appropriate box on the
state income tax return form, to be credited to the program. (2) All future check-offs, duly
enacted by the Legislature subsequent to April 17, 2006, shall be accorded an appropriate
box on the state income tax return forms, subject to the terms and conditions prescribed herein,
without the requirement that they be added by amendment to this section. (b) Contributions
received for the following authorized charitable and nonpolitical income tax check-off recipients,
less costs of administration to the Department of Revenue not to exceed five percent, shall
be distributed and appropriated as provided herein: (1) Contributions to the Alabama Aging
Program shall be deposited with the State Treasurer into the Alabama...
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41-10-319
Section 41-10-319 Rights of holders of bonds upon default. If there be any default by the authority
in the payment of the principal of or interest on the bonds or in any of the agreements on
the part of the authority which may properly be included in any resolution or indenture of
trust securing such bonds, any holder of any of the bonds or the trustee for the bondholders
under any resolution or indenture of trust, if so authorized therein, may, by an action, mandamus
or other proceedings, enforce payment of such items and foreclosure upon any mortgage or security
interest granted as security for such bonds and compel performance of all duties of the directors
and officers of the authority and shall be entitled, as a matter of right and regardless of
the sufficiency of any such security or the availability of any other remedy, to the appointment
of a receiver with all the power of such receiver for the maintenance, insurance and leasing
of the facilities and property covered by such...
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41-10-509
Section 41-10-509 Enforcement upon default. If there be any default by the authority in the
payment of the principal of or interest on the bonds or in any of the agreements on the part
of the authority which may properly be included in any resolution or indenture of trust securing
such bonds, any holder of any of the bonds or the trustee for the bondholders under any resolution
or indenture of trust, if so authorized therein, may, by an action, mandamus or other proceedings,
enforce payment of such items and foreclosure upon any mortgage or security interest granted
as security for such bonds and compel performance of all duties of the directors and officers
of the authority and shall be entitled, as a matter of right and regardless of the sufficiency
of any such security or the availability of any other remedy, to the appointment of a receiver
with all the power of such receiver for the maintenance, insurance and leasing of the facilities
and property covered by such resolution or...
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45-2-245.20
Section 45-2-245.20 Trust fund established; administration. (a) Any laws or parts of laws to
the contrary notwithstanding, any annual privilege tax levied upon persons engaging in the
business of producing or severing oil or gas or other hydrocarbons from the soil or waters
of Baldwin County measured by the gross value of such oil or gas or other hydrocarbons and
which tax is applicable only in Baldwin County and under which collections were being made
on January 1, 1987, shall be continued and collected only as herein prescribed. (1) All revenues
collected from such local severance taxes, shall, beginning the first day of the month following
May 19, 1989, be paid into the general fund of the county exclusively for transfer and deposit
into the trust fund hereby established until the total sum of fifteen million dollars ($15,000,000)
in severance tax revenues of the type described in this section, excluding any interest income
on amounts deposited therein from such total sum, has been...
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9-2-20.2
Section 9-2-20.2 Game and Fish Fund - Alabama Nongame Wildlife Endowment. (a) There is hereby
created within the Game and Fish Fund a special account to be known as the Alabama Nongame
Wildlife Endowment. The assets of said account shall consist of the following: (1) The proceeds
from the sale of reproductions of the said print and/or stamp; (2) The proceeds of any gifts,
grants and contributions to the state which are specifically designated for inclusion in said
account; and (3) Such other sources as may be specified by law. (b) The Alabama Nongame Wildlife
Endowment shall be administered by a board of trustees consisting of the Director of Finance,
the Secretary-Treasurer of the State Employees' Retirement System and the Commissioner of
the Department of Conservation and Natural Resources. Said board of trustees shall have the
power and authority to invest and reinvest the assets of the account within the guidelines,
limitations and restrictions that govern investment of the State...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/9-2-20.2.htm - 2K - Match Info - Similar pages
11-81-179
Section 11-81-179 Statutory mortgage lien of bondholders - Duration; enforcement. (a) Any system
or systems that shall be made subject to a statutory mortgage lien as provided for in Section
11-81-178 shall remain subject to such lien until payment in full of the principal of and
the interest on the bonds to secure the payment of which such lien was created or until moneys
sufficient for the payment thereof shall have been set aside in trust for payment thereof.
(b) Any holder of any of said bonds or of any of the interest coupons applicable thereto and
the trustee under any trust indenture, if so provided in such indenture, may, by civil action,
mandamus or other proceedings, protect, enforce and compel performance of all duties of the
officials of the borrower, including the fixing of sufficient rates, the collection of revenues,
the proper segregation of the revenues of the system or systems and the proper application
thereof; provided, however, that such statutory mortgage lien...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-81-179.htm - 2K - Match Info - Similar pages
24-10-5
Section 24-10-5 Duties of Department of Economic and Community Affairs. (a) The Alabama Housing
Trust Fund shall be maintained and administered by ADECA. ADECA is authorized and directed
to do all the following: (1) Invest and reinvest all money held in the trust fund in investments
under ADECA's investment policies, pending its use for the purposes described in Section 24-10-6.
(2) Keep books and records relating to the investment, interest earnings, and uses of monies
deposited into the trust fund. (3) Establish procedures for the withdrawal, allocation, and
use of the monies held in the trust fund for the purposes described in Section 24-10-6. (4)
Publish, on an annual basis, criteria for determining the distribution of funds. (5) Conduct
an annual independent audit of the trust fund. (6) Prepare, in collaboration with the advisory
committee, an annual performance report, which shall be provided to the Governor, Speaker
of the House of Representatives, and the President Pro Tempore...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/24-10-5.htm - 2K - Match Info - Similar pages
27-17A-10
Section 27-17A-10 Certificate required. (a) No person may sell a preneed contract without first
having a valid certificate of authority. (b)(1) No person may receive any funds for payment
on a preneed contract who does not hold a valid certificate of authority. (2) Any preneed
transaction in which a buyer pays to the seller before need, in whole or in part, a purchase
price for funeral or cemetery merchandise and services, and in which the seller is not obligated
to deliver the contracted for merchandise or to perform the services until need, in whole
or in part, shall be evidenced by a written preneed contract satisfying the requirements of
this chapter and signed by the seller and the purchaser. No person may receive or accept any
form of consideration in such a transaction without a fully signed written preneed contract.
A transaction not evidenced by a signed written preneed contract shall be voidable at the
election of the buyer and, if such election is made, the seller shall...
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