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22-21-260
Section 22-21-260 Definitions. As used in this article, the following words and terms, and
the plurals thereof, shall have the meanings ascribed to them in this section, unless otherwise
required by their respective context: (1) ACQUISITION. Obtaining the legal equitable title
to a freehold or leasehold estate or otherwise obtaining the substantial benefit of such titles
or estates, whether by purchase, lease, loan or suffrage, gift, devise, legacy, settlement
of a trust or means whatever, and shall include any act of acquisition. The term "acquisition"
shall not mean or include any conveyance, or creation of any lien or security interest by
mortgage, deed of trust, security agreement, or similar financing instrument, nor shall it
mean or include any transfer of title or rights as a result of the foreclosure, or conveyance
or transfer in lieu of the foreclosure, of any such mortgage, deed of trust, security agreement,
or similar financing instrument, nor shall it mean or include any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-260.htm - 11K - Match Info - Similar pages
11-92B-10
Section 11-92B-10 Powers and duties of authority. An authority shall have the following powers
and duties together with all powers and duties incidental thereto or necessary to the discharge
thereof: (1) To sue or be sued and to prosecute and defend in any court of competent jurisdiction.
(2) To adopt and to use a corporate seal and to alter the seal at pleasure. (3) To adopt and
alter bylaws for the regulation and conduct of its affairs and business. (4) With respect
to property within the operational area of the authority, to acquire, receive, and take title
to by purchase, gift, lease, devise, or otherwise, to hold, keep, improve, maintain, and impose
restrictive covenants and land use controls, to engage in environmental remediation and restoration
efforts as required under applicable agreements with the United States Department of Defense,
to equip, furnish, develop, and to transfer, convey, donate, sell, lease, grant options to,
assign, encumber with easements and mortgages and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-92B-10.htm - 7K - Match Info - Similar pages
5-19-22
Section 5-19-22 License to engage in business of making consumer loans or taking assignments
of consumer credit contracts - Required; exceptions; application; investigation; standards
for issuance; hearing; licensing under Small Loan Act; fees; participation in Nationwide Mortgage
Licensing System and Registry. (a) No creditor shall engage in any one or more of the following
activities without first having obtained a license from the administrator: (1) Making consumer
loans to Alabama residents, regardless of whether the creditor has a place of business in
Alabama or an employee residing in Alabama. (2) Making consumer loans originated by an individual
required to be licensed as a mortgage loan originator under the Alabama Secure and Fair Enforcement
for Mortgage Licensing Act of 2009. (3) Taking assignments of consumer credit contracts, either
from a place of business in Alabama or through use of an employee residing in Alabama whose
employment includes taking assignments of consumer...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-19-22.htm - 7K - Match Info - Similar pages
45-28-91.01
Section 45-28-91.01 Creation; composition; powers and duties. (a) There is hereby created the
new Etowah County Tourism Board. The new board shall consist of one member appointed by each
member of the Etowah County House Legislative Delegation, one member appointed by the senator
representing Etowah County, one member appointed by the county commission, one member appointed
by the Mayor of Gadsden, one member appointed by the Etowah County Mayor's Association, one
member appointed by the Etowah/Gadsden Chamber of Commerce, and one member appointed by the
local hotel industry. Members shall serve two year terms until November 30, 2011, when the
next term shall be four years. No person shall be appointed to the board unless he or she
is a qualified elector of Etowah County. (b) The Etowah County Tourism Board created by this
part shall promote the tourism industry in the county, including, but not limited to, working
with potential visitors; coordinating with media representatives;...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-28-91.01.htm - 6K - Match Info - Similar pages
40-14-41
Section 40-14-41 (Not Effective After December 31, 1999) Levy on foreign corporations. (a)
Amount of levy. Every corporation organized under the laws of any other state, nation, or
territory and doing business in this state, except strictly benevolent, educational, or religious
corporations, shall pay annually to the state an annual franchise tax of three dollars ($3)
on each one thousand dollars ($1,000) of the actual amount of its capital employed in this
state. Corporations which have qualified to do business in this state shall for the purpose
of this title prima facie be held to be doing business in Alabama. However, in no event shall
the amount paid by any corporation for annual franchise tax be less than the sum of twenty-five
dollars ($25). (b) Definition of capital. The total capital of such foreign corporation, herein
referred to as the "taxpayer," shall equal the aggregate net amount of the following
items determined in accordance with generally accepted accounting...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-14-41.htm - 13K - Match Info - Similar pages
11-97-8
Section 11-97-8 Powers of corporation; location of facilities of corporation. (a) Every corporation
shall have all of the powers necessary and convenient to carry out and effectuate the purposes
and provisions of this chapter, including (without limiting the generality of the foregoing)
the following powers: (1) To have succession in its corporate name for the duration of time
(which may be in perpetuity, subject to the provisions of Section 11-97-22 hereof) 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, regulations, and
rules, not inconsistent with the provisions of this chapter, for the regulation and conduct
of its affairs and business; (5) To acquire, whether by gift, purchase, transfer, foreclosure,
lease, or otherwise, to construct and to expand, improve, operate,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-97-8.htm - 11K - Match Info - Similar pages
27-41-30
Section 27-41-30 Particular investments - Loans, notes, etc., secured by mortgages and leases
on real property. An insurer may invest in loans, notes, bonds, or other evidences of indebtedness
of any person up to the fair value of real property securing said indebtedness, upon compliance
with the following conditions and provisions: (1) The indebtedness must be secured by a first
mortgage lien on real property having a fair value of not less than the principal amount of
the loan, except as provided in subdivision (8) of this section; (2) The indebtedness must
be additionally secured by a lease on said real property, which lease must be assigned and
transferred by the lessor to the lender or to a trustee of the lender under a trust instrument;
(3) The lease so assigned as additional security must be noncancellable and may be terminated
only upon such conditions as are generally provided in commercial leases, such as, for example,
destruction by fire, tornado, or similar hazard or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-41-30.htm - 4K - Match Info - Similar pages
35-10-20
Section 35-10-20 When indebtedness presumed to have been paid. As to third parties without
actual notice or knowledge to the contrary, the indebtedness secured by any recorded mortgage,
or reservation of vendor's lien, either in deed of conveyance or note, bond or contract of
purchase covering real estate 20 years past due according to the original maturity date, or
some new date fixed by a duly recorded extension agreement, shall be conclusively presumed
to have been paid unless the record of such mortgage or lien shows a credit by the mortgagee,
or lienee, or owner of the debt, or his assignee of one or more payments upon such indebtedness
within the 20 years last passed. And if the final maturity date of the debt is not shown by
the mortgage or lien, or a recorded extension agreement, or cannot be determined by calculation
from the recitals contained therein, then the time shall run from the date of the mortgage
or lien. The notation of credits mentioned in the next preceding...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-10-20.htm - 2K - Match Info - Similar pages
43-2-843
Section 43-2-843 Transactions authorized for personal representatives; exceptions. Except as
restricted or otherwise provided by the will or by an order of court and subject to the priorities
stated in Section 43-8-76, a personal representative, acting prudently for the benefit of
the interested persons, may properly: (1) Retain assets owned by the decedent pending distribution
or liquidation including those in which the representative is personally interested or which
are otherwise improper for trust investment. (2) Receive assets from fiduciaries, or other
sources. (3) Perform, compromise, or refuse performance of the decedent's contracts that continue
as obligations of the estate, as the personal representative may determine under the circumstances.
In performing enforceable contracts by the decedent to convey or lease land, the personal
representative, among other possible courses of action, may do either of the following: a.
Execute and deliver a deed of conveyance for cash...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/43-2-843.htm - 6K - Match Info - Similar pages
10A-10-1.09
Section 10A-10-1.09 Powers. A real estate investment trust has the power to: (1) Unless the
declaration of trust provides otherwise, have perpetual existence unaffected by any rule against
perpetuities. (2) Sue, be sued, complain, and defend in all courts. (3) Transact its business,
carry on its operations, and exercise the powers granted by this chapter in any state, territory,
district, or possession of the United States and in any foreign country. (4) Make contracts,
incur liabilities, and borrow money. (5) Sell, mortgage, lease, pledge, exchange, convey,
transfer, and otherwise dispose of all or any part of its assets. (6) Issue bonds, notes,
and other obligations, and secure them by mortgage or deed of trust of all or any part of
its assets. (7) Subject to Section 10A-10-1.10, acquire by purchase, or in any other manner,
take, receive, own, hold, use, employ, improve, encumber, and otherwise deal with any interest
in real and personal property, wherever located. (8) Purchase,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-10-1.09.htm - 3K - Match Info - Similar pages
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