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35-12-79
Section 35-12-79 Custody by state; recovery by holder; defense of holder. (a) In this article,
good faith means honesty in fact in the conduct or transaction concerned. (b) Upon payment
or delivery of property to the Treasurer, the state assumes custody and responsibility for
the safekeeping of the property. A holder who pays or delivers property to the Treasurer in
good faith is relieved of all liability arising thereafter with respect to the property. The
payment or delivery of property to the Treasurer shall operate as a full, absolute and unconditional
release and discharge of the holder from any and all claims or demands of or liability to
any person entitled thereto, or to any other claimant or state, and the payment or delivery
may be pleaded as an absolute bar to any action brought against the holder by any other person
entitled thereto, or by any other claimant or state. Once properly pleaded, the holder shall
immediately and thereafter be relieved of and held harmless from...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-12-79.htm - 4K - Match Info - Similar pages
35-12-80
Section 35-12-80 Public sale of abandoned property. (a) Except as otherwise provided in this
section, the Treasurer, within three years after the receipt of abandoned property, shall
sell it to the highest bidder at public sale. The Treasurer may decline the highest bid and
reoffer the property for sale if the Treasurer considers the bid to be insufficient. The Treasurer
need not offer the property for sale, if the Treasurer considers that the probable cost of
sale will exceed the proceeds of the sale. A sale held under this section shall be preceded
by a single publication of notice, at least three weeks before sale, in a newspaper of general
circulation in the county in which the property is to be sold. (b) Securities listed on an
established stock exchange must be sold at prices prevailing on the exchange at the time of
sale. Other securities may be sold over the counter at prices prevailing at the time of sale
or by any reasonable method selected by the Treasurer. All securities...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-12-80.htm - 2K - Match Info - Similar pages
35-12-89
Section 35-12-89 Requests for reports and examination of records. (a) The Treasurer may require
a person who has not filed a report, or a person who the Treasurer believes has filed an inaccurate,
incomplete, or false report, to file a verified report in a form specified by the Treasurer.
The report must state whether the person is holding property reportable under this article,
describe property not previously reported or as to which the Treasurer has made inquiry, and
specifically identify and state the amounts of property that may be in issue. (b) The Treasurer,
at reasonable times and upon reasonable notice, may examine the records of any person to determine
whether the person has complied with this article. The Treasurer may conduct the examination
even if the person believes it is not in possession of any property that shall be reported,
paid, or delivered under this article. The Treasurer may contract with any other person to
conduct the examination on behalf of the Treasurer....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-12-89.htm - 3K - Match Info - Similar pages
10A-3-7.17
Section 10A-3-7.17 Deposits with State Treasurer. Upon the voluntary or involuntary dissolution
of a nonprofit corporation, the portion of the assets distributable to any person who is unknown
or cannot be found, or who is under disability and there is no person legally competent to
receive the distributive portion, shall be reduced to cash and deposited with the State Treasurer
and shall be paid over to the person or to his or her legal representative upon satisfactory
proof to the State Treasurer of his or her right thereto. The cash shall be held for the owner
by the State Treasurer for three years and any cash which remains unclaimed by the owner after
three years shall be presumed abandoned and subject to the Uniform Disposition of Unclaimed
Property Act. (Acts 1984, No. 84-290, p. 502, §64; §10-3A-156; amended and renumbered by
Act 2009-513, p. 967, §192.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-3-7.17.htm - 1K - Match Info - Similar pages
10A-2-14.40
Section 10A-2-14.40 Deposit with State Treasurer. REPEALED IN THE 2019 REGULAR SESSION BY ACT
2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. Assets of a
dissolved corporation that should be transferred to a creditor, claimant, or shareholder of
the corporation who cannot be found or who is not competent to receive them shall be reduced
to cash and deposited with the State Treasurer for safekeeping. When the creditor, claimant,
or shareholder furnishes satisfactory proof of entitlement to the amount deposited, the State
Treasurer shall pay him or her or his or her representative that amount. The assets shall
be held for the owner by the State Treasurer for three years and any assets which remain unclaimed
by the owner after three years shall be presumed abandoned and subject to the provisions of
the Uniform Disposition of Unclaimed Property Act. (Acts 1994, No. 94-245, p. 343, §1; §10-2B-14.40;
amended and renumbered by Act 2009-513, p. 967, §151.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-14.40.htm - 1K - Match Info - Similar pages
8-15-34
Section 8-15-34 Satisfaction of owner's lien. An owner's lien as provided for a claim which
has become due may be satisfied as follows: (1) No enforcement action shall be taken by the
owner until the occupant has been in default continuously for a period of 30 days. (2) Prior
to taking enforcement action pursuant to this section, the owner shall determine whether a
financing statement has been filed in accordance with Title 7 concerning the property to be
sold or otherwise disposed of, with the Secretary of State, in the county where the self-service
storage facility is located and in the county of the occupant's last known address. (3) After
the occupant has been in default continuously for a period of 30 days, the owner may begin
enforcement action if the occupant has been notified in writing. Said notice shall be delivered
in person or sent by certified or registered mail to the last known address of the occupant.
Any lienholder with an interest in the property to be sold or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-15-34.htm - 6K - Match Info - Similar pages
40-22-2
Section 40-22-2 Mortgages, deeds of trust, etc., generally. No mortgage, deed of trust, contract
of conditional sale, or other instrument of like character which is given to secure the payment
of any debt which conveys any real or personal property situated within this state or any
interest therein or any security agreement or financing statement provided for by the Uniform
Commercial Code, except a security agreement or a financing statement relating solely to security
interests in accounts, contract rights, or general intangibles, as such terms are defined
in the Uniform Commercial Code, and except for 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, shall be
received for record or for filing in the office of any probate judge of this state unless
the following privilege or license taxes shall have been paid upon such...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-22-2.htm - 16K - Match Info - Similar pages
41-9-249.1
Section 41-9-249.1 Contracts for recovery or salvage of archaeological treasure, etc. (a) Notwithstanding
any provision of law to the contrary, the Alabama Historical Commission may enter into contracts
with any group or person for the recovery or salvage of archaeological treasure, sunken or
abandoned ships and wrecks of the sea, or parts thereof or their contents, which are determined
to be located on state owned lands, or on private land if the written consent of the owner
thereof is first obtained. Such contracts shall be on forms approved by the commission and
may provide for fair compensation to the salvager, and owner of the private land where applicable,
in terms of a percentage of the reasonable cash value of the objects recovered or at the discretion
of the commission, of a fair share of the objects recovered. The amount constituting a fair
share shall be determined by the commission, taking into consideration the circumstances of
each operation, and the reasonable cash value...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-9-249.1.htm - 2K - Match Info - Similar pages
19-3B-802
Section 19-3B-802 Duty of loyalty. (a) A trustee shall administer the trust solely in the interests
of the beneficiaries. (b) Subject to the rights of persons dealing with or assisting the trustee
as provided in Section 19-3B-1012, a sale, encumbrance, or other transaction involving the
investment or management of trust property entered into by the trustee for the trustee's own
personal account or which is otherwise affected by a conflict between the trustee's fiduciary
and personal interests is voidable by a beneficiary affected by the transaction unless: (1)
the transaction was authorized by the terms of the trust; (2) the transaction was approved
by the court; (3) the beneficiary did not commence a judicial proceeding within the time allowed
by Section 19-3B-1005; (4) the beneficiary consented to the trustee's conduct, ratified the
transaction, or released the trustee in compliance with Section 19-3B-1009; or (5) the transaction
involves a contract entered into or claim acquired by...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-3B-802.htm - 5K - Match Info - Similar pages
35-12-71
Section 35-12-71 Definitions. As used in this article, unless the context otherwise requires,
the following terms shall have the meanings respectively ascribed to them by this section:
(1) APPARENT OWNER. A person whose name appears on the records of a holder as the person entitled
to property held, issued, or owing by the holder. (2) BUSINESS ASSOCIATION. A corporation,
joint stock company, investment company, partnership, unincorporated association, joint venture,
limited liability company, business trust, trust company, safe deposit company, financial
organization, insurance company, mutual fund, utility, or other business entity consisting
of one or more persons, whether or not for profit. (3) DOMICILE. The state of incorporation
of a corporation and the state of the principal place of business of a holder other than a
corporation. (4) FINANCIAL ORGANIZATION. A savings and loan association, building and loan
association, industrial loan organization, credit union, cooperative bank,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-12-71.htm - 6K - Match Info - Similar pages
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