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9-17-12
Section 9-17-12 Limitations on regulations; drilling or production units; producers' shares.
(a) Whether or not the total production from a pool is limited or prorated, no rule, regulation,
or order of the board shall be such in terms or effect that it will do the following: (1)
That it shall be necessary at any time for the producer from or the owner of, a tract of land
in the pool, or an interest associated therewith or derived therefrom, in order that he or
she may obtain the tract's just and equitable share or the just and equitable share of the
interest of the production of such pool, as the share is set forth in this section, to drill
and operate any well or wells on such tract in addition to the well or wells as can without
waste produce the share. (2) As to occasion net drainage from a tract or any interest associated
therewith or derived therefrom, unless there is drilled and operated upon the tract a well
or wells in addition to such well or wells thereon as can without waste...
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10A-1-8.02
Section 10A-1-8.02 Mergers of entities. (a) A merger of two or more entities, whether the other
entity or entities are the same or another form of entity, may be accomplished as provided
in this section. (1) CORPORATIONS. a. In the case of a corporation, other than a nonprofit
corporation, that is a party to a merger, a plan of merger must be approved in accordance
with the procedures and by the stockholder vote required by Article 11 of Chapter 2A. If the
governing documents of the corporation provide for approval of a merger by less than all of
the corporation's stockholders, approval of the merger shall constitute corporate action subject
to appraisal rights pursuant to Article 13 of Chapter 2A, as applicable. No merger of a corporation
into a general or limited partnership may be effected without the consent in writing of each
stockholder who will have personal liability with respect to the surviving entity, notwithstanding
any provision in the governing documents of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-1-8.02.htm - 17K - Match Info - Similar pages
27-27-45
Section 27-27-45 Merger and consolidations - Domestic stock insurers. (a) A domestic stock
insurer may merge or consolidate with one or more domestic or foreign stock insurers by complying
with the applicable provisions of the statutes of this state governing the merger or consolidation
of stock corporations formed for profit, but subject to subsections (b) and (c) of this section.
(b) No such merger or consolidation shall be effectuated unless in advance thereof the plan
and agreement therefor have been filed with the commissioner and approved in writing by him
after a hearing thereon. The commissioner shall give such approval within a reasonable time
after such filing unless he finds such plan or agreement: (1) Is contrary to law; (2) Inequitable
to the stockholders of any domestic insurer involved; or (3) Would substantially reduce the
security of, and service to be rendered to, policyholders of the domestic insurer in this
state or elsewhere. (c) No director, officer, agent, or...
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32-8-61
Section 32-8-61 Perfection of security interests. (a) Unless excepted by this section, a security
interest in a vehicle for which a certificate of title is required by the terms of this chapter
is not valid against creditors of the owner or subsequent transferees or lienholders of the
vehicle unless perfected as provided in this article. (b) A security interest is perfected
by the delivery to the department of the existing certificate of title, if any, an application
for a certificate of title containing the name and address of the lienholder and the date
of his security agreement and the required fee. It is perfected as of the time of its creation
if the delivery is completed within 30 days thereafter, otherwise, as of the time of the delivery.
(Acts 1973, No. 765, p. 1147, §19; Acts 1977, No. 252, p. 329, §2; Acts 1981, No. 81-312,
p. 399, §7-11-109(2); Acts 1987, No. 87-412, p. 606; Act 2001-313, p. 405, §1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/32-8-61.htm - 1K - Match Info - Similar pages
35-12-72
Section 35-12-72 Presumption of abandonment. (a) Property is presumed abandoned if it is unclaimed
by the apparent owner during the time set forth below for the particular property: (1) Traveler's
checks, 15 years after issuance. (2) Money order, five years after issuance. (3) A demand,
savings, or time deposit including a deposit that is automatically renewable, three years
after the earlier of maturity, as extended from time to time, or the date of the last indication
by the apparent owner of interest in the property. (4) Tangible and intangible property held
in a safe deposit box or other safekeeping depository in this state in the ordinary course
of the holder's business and proceeds resulting from the sale of the property permitted by
other law, three years after expiration of the lease or rental period on the box or other
depository. (5) Money or credits owed to a customer as a result of a retail business transaction,
one year after the obligation accrued. (6) Property in an...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-12-72.htm - 8K - Match Info - Similar pages
7-4-104
Section 7-4-104 Definitions and index of definitions. (a) In this article, unless the context
otherwise requires: (1) "Account" means any deposit or credit account with a bank,
including a demand, time, savings, passbook, share draft, or like account, other than an account
evidenced by a certificate of deposit; (2) "Afternoon" means the period of a day
between noon and midnight; (3) "Banking day" means the part of a day on which a
bank is open to the public for carrying on substantially all of its banking functions; (4)
"Clearing house" means an association of banks or other payors regularly clearing
items; (5) "Customer" means a person having an account with a bank or for whom a
bank has agreed to collect items, including a bank that maintains an account at another bank;
(6) "Documentary draft" means a draft to be presented for acceptance or payment
if specified documents, certificated securities (Section 7-8-102) or instructions for uncertificated
securities (Section 7-8-308), or...
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19-4-1
Section 19-4-1 Definitions. When used in this article, the following words and phrases shall
have the following meanings, respectively, unless the context clearly indicates otherwise:
(1) FIDUCIARY. An administrator, an administrator with the will annexed, an administrator
de bonis non, an executor, a trustee, a guardian, a conservator, an agent, a custodian or
a custodian or agent for another fiduciary or fiduciaries. (2) FIDUCIARY ACCOUNT. An estate,
a trust, a guardianship, a custodianship, an agency or any other fiduciary relationship, including
a custodianship or agency for another fiduciary or fiduciaries. (3) BANK. A bank or trust
company organized and existing under the laws of Alabama with authority to act as a fiduciary
and a national banking association with its principal office in the State of Alabama and with
authority to act as a fiduciary. (4) SECURITY. Any note; stock; treasury stock; bond; debenture;
evidence of indebtedness; certificate of interest or participation in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-4-1.htm - 3K - Match Info - Similar pages
32-20-41
Section 32-20-41 Perfection of security interest. (a) Unless excepted by this section, a security
interest in a manufactured home for which a certificate of title is required by the terms
of this chapter is not valid against creditors of the owner or subsequent transferees or lienholders
of the manufactured home unless perfected as provided in this article or previously perfected
under the terms of Chapter 8 of this title. (b) A security interest is perfected by the delivery
to the department of the existing certificate of title, if any, an application for a certificate
of title containing the name and address of the lienholder and the date of his or her security
agreement and the required fee. It is perfected as of the time of its creation if the delivery
is completed within 30 days thereafter, otherwise, as of the time of the delivery. (Act 2009-746,
p. 2236, §4; Act 2017-442, §2 (b)(4).)...
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33-2-60
Section 33-2-60 Definitions. The words and phrases hereinafter set forth, wherever used in
this article, shall have the respective meanings hereinafter ascribed to them. These definitions
shall include both the singular and the plural. (1) 1957 DOCKS AMENDMENT. Amendment 116 of
the Constitution of Alabama. (2) THE STATE. The State of Alabama. (3) THE DEPARTMENT. The
Alabama State Docks Department and any department or agency of the state that may succeed
to its duties. (4) DOCK FACILITIES. Docks and all kinds of dock facilities, including elevators,
warehouses, water and rail terminals, wharves, piles, quays, compresses, storm haven facilities
for all types of watercraft, channels between navigable waterways of the state for the purpose
of connecting such waterways and aiding the use thereof and other related structures, facilities
and improvements that may be needed for the convenient use of the same. (5) 1957 DOCKS ACT.
Article 1 of this chapter. (6) 1959 DOCKS ACT. Article 2 of this...
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35-8-6
Section 35-8-6 Common and limited common elements. (a) The undivided interest in the common
elements and limited common elements or the method for determining such interests shall be
set forth in the declaration. (b) Any conveyance, lease, devise, or other disposition or mortgage
or encumbrance of any unit shall extend to and include such undivided interest in the common
and limited common elements, whether or not expressly referred to in the instrument effecting
the same. (c) The common elements and limited common elements shall remain undivided from
the condominium property and shall not be the object of an action for partition or division
unless the condominium property is removed from the provisions of this chapter as provided
in Section 35-8-20. Nothing in this chapter shall be construed as a limitation on partition
of individual interests in a unit or units by co-owners of such unit or units. (d) The undivided
interest of each unit owner in the common elements and limited common...
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