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27-41-29
Section 27-41-29 Particular investments - Bonds, etc., secured by mortgages or deeds of trust
on real property, etc., generally. An insurer may invest in: (1) Bonds, notes, or other evidences
of indebtedness which are secured by a first mortgage lien or deed of trust upon unencumbered
improved real property located in the United States or Canada, including leasehold estates
in such real estate having an unexpired term (inclusive of the term or terms which may be
provided by options of renewal) of not less than 10 years beyond the final maturity of the
loan. Unless guaranteed or insured by the Administrator of Veterans Affairs, the Secretary
of Housing and Urban Development, or by a mortgage guaranty insurance policy issued by an
insurance company licensed and authorized to do business by and in the State of Alabama, no
such mortgage loan or loans when made shall exceed 75 percent of the fair value of the real
estate or leasehold, except that loans made on single family dwellings shall...
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10A-10-1.15
Section 10A-10-1.15 Merger. (a) For purposes of this section, the following words shall have
the respective meanings ascribed to them: (1) ALABAMA REAL ESTATE INVESTMENT TRUST. A real
estate investment trust organized in compliance with the provisions of this chapter. (2) BUSINESS
TRUST. a. An entity described in Section 10A-16-1.01. b. An unincorporated trust or association,
including an Alabama real estate investment trust, a common-law trust, or a Massachusetts
trust, which is engaged in business and in which property is acquired, held, managed, administered,
controlled, invested, or disposed of for the benefit and profit of any person who may become
a holder of a transferable unit of beneficial interest in the trust. (3) DOMESTIC LIMITED
LIABILITY COMPANY. A limited liability company as defined under the Alabama Limited Liability
Company Law. (4) DOMESTIC LIMITED PARTNERSHIP. A limited partnership as defined under the
Alabama Limited Partnership Law. (5) FOREIGN BUSINESS TRUST. A...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-10-1.15.htm - 10K - Match Info - Similar pages
19-3A-401
Section 19-3A-401 Character of receipts. (a) For purposes of this section, "entity"
means a corporation, partnership, limited liability company, regulated investment company,
real estate investment trust, common trust fund, or any other organization in which a fiduciary
has an interest other than (1) a trust or decedent's estate to which Section 19-3A-402 applies,
(2) a business or activity to which Section 19-3A-403 applies, or (3) an asset-backed security
to which Section 19-3A-415 applies. (b) Except as otherwise provided in this section, a fiduciary
shall allocate to income money received from an entity. (c) A fiduciary shall allocate the
following receipts from an entity to principal: (1) Property other than money except in cases
when the fiduciary has the choice to receive dividends or similar payments either in cash
or in the shares or similar ownership interests of the corporation or other business entity,
in which case, the fiduciary shall allocate the receipts to income; (2)...
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26-9-10
Section 26-9-10 Investment of funds of estate by guardian; limitation as to loans of funds
of ward. (a) Every guardian shall invest the funds of the estate in one or more of the following
forms in which the guardian has no interest and not otherwise: (1) Interest-bearing obligations
of the State of Alabama or of the United States or as to which the State of Alabama or the
United States has guaranteed the payment of both principal and interest. (2) Loans secured
by direct first mortgage on improved real estate located within the State of Alabama. Such
loans shall not exceed 50 percent of the actual value fixed by a competent appraiser or of
the value for which such real estate, with improvements, was assessed for taxation for the
last preceding tax year, whichever is the lower, except as provided in subdivision (3) of
this section. (3) Purchase of indebtedness secured by first real estate mortgages which have
been accepted for insurance by the Secretary of Housing and Urban Development...
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10A-5-4.02
Section 10A-5-4.02 Limited liability company property. REPEALED IN THE 2014 REGULAR SESSION
BY ACT 2014-144 EFFECTIVE JANUARY 1, 2017. (a) Property may be acquired, held, and conveyed
in the name of the limited liability company. Any estate in real property may be acquired
in the name of the limited liability company and title to any estate so acquired shall vest
in the limited liability company itself rather than in the members individually. (b) All property
originally contributed to the limited liability company or subsequently acquired by a limited
liability company by purchase or otherwise is limited liability company property. A member
has no interest in specific limited liability company property. (c) Except as provided in
subsection (d), title to property of the limited liability company that is held in the name
of the limited liability company may be transferred by an instrument of transfer executed
by any member in the name of the limited liability company. (d) If the...
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11-51-90.1
Section 11-51-90.1 Definitions. As used in this article, the following terms shall have the
following meanings: (1) BUSINESS. Any commercial or industrial activity or any enterprise,
trade, profession, occupation, or livelihood, including the lease or rental of residential
or nonresidential real estate, whether or not carried on for gain or profit, and whether or
not engaged in as a principal or as an independent contractor, which is engaged in, or caused
to be engaged in, within a municipality. (2) BUSINESS LICENSE. An annual license issued by
a taxing jurisdiction for the privilege of doing any kind of business, trade, profession,
or any other activity in that jurisdiction, by whatever name called, which document is required
to be conspicuously posted or displayed except to the extent the taxpayer's business license
tax or other financial information is listed thereon or unless the municipality affirmatively
elects not to so require. However, municipal occupational licenses,...
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27-41-35
Section 27-41-35 Miscellaneous investments. (a) An insurer may make investments not otherwise
expressly permitted by this chapter which may be counted as admitted assets, except as expressly
prohibited under Section 27-41-36, provided that: (1) The aggregate of all such investments
shall not exceed 10 percent of the insurer's admitted assets; (2) The insurer's capital and
surplus shall not be less than twice the total capital and surplus required of the insurer
to transact insurance under Sections 27-3-7 and 27-3-8 of the Alabama Insurance Code; and
(3) Such investments are sound investments. (b) No investment shall be an eligible investment
under this section if the investment is in an asset not allowed under the provisions of Section
27-37-2 of the Alabama Insurance Code or is otherwise expressly prohibited or is eligible
under any other provision of this chapter; except, that an insurer may invest in common stocks
up to the limits imposed by this section in excess of the limits...
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40-22-1
Section 40-22-1 Deeds, bills of sale, etc. (a) Except as set out in subsection (b), no deed,
bill of sale, or other instrument of like character which conveys any real or personal property
within this state or which conveys any interest in any such property shall be received for
record unless the privilege or license tax is paid prior to the instrument being offered for
record as provided in subsection (c). (b) No privilege or license tax shall be required for
any of the following: (1) The transfer of mortgages on real or personal property within this
state upon which the mortgage tax has been paid. (2) Deeds or instruments executed for a nominal
consideration for the purpose of perfecting the title to real estate. (3) The re-recordation
of corrected mortgages, deeds, or instruments executed for the purpose of perfecting the title
to real or personal property, specifically, but not limited to, corrections of maturity dates
thereof, and deeds and other instruments or conveyances,...
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6-5-253
Section 6-5-253 Payment or tender of purchase money and other lawful charges, with interest.
(a) Anyone entitled and desiring to redeem real estate under the provisions of this article
must also pay or tender to the purchaser or his or her transferee the purchase price paid
at the sale, with interest at the rate allowed to be charged on money judgments as set forth
in Section 8-8-10 (as it is now or hereinafter may be amended), and all other lawful charges,
also with interest as aforesaid; lawful charges are the following: (1) Permanent improvements
as prescribed herein. (2) Taxes paid or assessed. (3) All insurance premiums paid or owed
by the purchaser. (4) Any other valid lien or encumbrance paid or owned by such purchaser
or his or her transferee or if the redeeming party is a judgment creditor or junior mortgagee
or any transferee thereof, then all recorded judgments, recorded mortgages, and recorded liens
having a higher priority in existence at the time of sale which are revived...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/6-5-253.htm - 3K - Match Info - Similar pages
43-2-844
Section 43-2-844 Transactions authorized for personal representatives; prior court approval.
Unless expressly authorized by the will, a personal representative, only after prior approval
of court, may: (1) Acquire or dispose of an asset, including land in this or another state,
for cash or on credit, at public or private sale; and manage, develop, improve, exchange,
partition, change the character of, or abandon an estate asset. (2) Make ordinary or extraordinary
repairs or alterations in buildings or other structures, demolish any improvements, or raze
existing or erect new party walls or buildings. (3) Subdivide, develop, or dedicate land to
public use; make or obtain the vacation of plats and adjust boundaries; adjust differences
in valuation on exchange or partition by giving or receiving considerations; or dedicate easements
to public use without consideration. (4) Enter for any purpose into a lease as lessor or lessee,
with or without option to purchase or renew, for a term of...
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