27-61-1
Section 27-61-1 Surplus Lines Insurance Multi-State Compliance Compact. The Surplus Lines Insurance
Multi-State Compliance Compact Act is enacted into law and entered into with all jurisdictions
mutually adopting the compact in the form substantially as follows: PREAMBLE WHEREAS, with
regard to Non-Admitted Insurance policies with risk exposures located in multiple states,
the 111th United States Congress has stipulated in Title V, Subtitle B, the Non-Admitted and
Reinsurance Reform Act of 2010, of the Dodd-Frank Wall Street Reform and Consumer Protection
Act, hereafter, the NRRA, that: (A) The placement of Non-Admitted Insurance shall be subject
to the statutory and regulatory requirements solely of the insured's Home State, and (B) Any
law, regulation, provision, or action of any State that applies or purports to apply to Non-Admitted
Insurance sold to, solicited by, or negotiated with an insured whose Home State is another
State shall be preempted with respect to such application;...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-61-1.htm - 62K - Match Info - Similar pages

35-8A-407
Section 35-8A-407 Offering statement - Condominium securities. If an interest in a condominium
is currently registered with the Securities and Exchange Commission of the United States or
registered pursuant to the Interstate Land Sales Full Disclosure Act, a declarant satisfies
all requirements relating to the preparation and delivery of an offering statement of this
chapter if he or she delivers to the purchaser a copy of the offering statement filed with
the Securities and Exchange Commission or a copy of the property report approved in accordance
with the Interstate Land Sales Full Disclosure Act as a part of the registration process.
(Acts 1990, No. 90-551, p. 858, §4-107; Act 2018-403, §1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-8A-407.htm - 1017 bytes - Match Info - Similar pages

35-8A-204
Section 35-8A-204 Description of units. A description of a unit which sets forth the name of
the condominium, the recording data for the declaration, the county in which the condominium
is located, and the identifying number of the unit, is a sufficient legal description of that
unit and all rights, obligations, and interests appurtenant to that unit which were created
by the declaration or bylaws. (Acts 1990, No. 90-551, p. 858, §2-104.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-8A-204.htm - 751 bytes - Match Info - Similar pages

35-8A-406
Section 35-8A-406 Offering statement - Condominiums containing conversion buildings. The offering
statement of a condominium containing any conversion building containing units that may be
occupied for residential use must contain, in addition to the information required by Section
35-8A-403: (1) A statement by the declarant, to the best of declarant's knowledge, of the
approximate age of structural components and mechanical and electrical installations which
are material to the use and enjoyment of the buildings or an affirmative statement in bold
face print that no representations are made in that regard and; (2) A list of any outstanding
notices of uncured violations of building code or other municipal regulations, together with
the estimated cost of curing those violations. (Acts 1990, No. 90-551, p. 858, §4-106; Act
2018-403, §1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-8A-406.htm - 1K - Match Info - Similar pages

35-8A-207
Section 35-8A-207 Allocation of common element interests, votes, and common expense liabilities.
(a) The declaration must allocate to each unit in a condominium a fraction or percentage of
undivided interests in the common elements and in the common expenses of the association specified
in section 35-8A-315(a), and a portion of the votes in the association, to each unit and state
the formulas used to establish allocations of interest. Those allocations may not discriminate
in favor of units owned by the declarant or an affiliate of the declarant. (b) If units may
be added to or withdrawn from the condominium, the declaration must state the formulas to
be used to reallocate the allocated interests among all units included in the condominium
after the addition or withdrawal. (c) The declaration may provide: (i) that different allocations
of votes shall be made to the units on particular matters specified in the declaration; (ii)
for cumulative voting only for the purpose of electing...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-8A-207.htm - 2K - Match Info - Similar pages

40-7-16
Section 40-7-16 How real estate may be described. The description of real estate may be as
follows: (1) If it is an entire section, it may be described by the number of the section,
township, and range. (2) If it is a subdivision of a section authorized by the United States
for the sale of public lands, it may be described by a designation of such subdivision, with
the number of section, township, and range. (3) If it is less or other than a subdivision,
it may be described by metes and bounds, or in some way by which it may be known; provided,
that such description shall be sufficient without more to definitely locate and identify the
property so listed and shall give the acreage included therein as nearly as known. (4) If
it is in a city, town, or village, surveyed and laid off, and a plat thereof is recorded in
the office of the judge of probate of the county, or if a plat is accessible and if it is
as a whole lot or block, it shall be described by the designation of the number...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-7-16.htm - 2K - Match Info - Similar pages

35-8-12
Section 35-8-12 Liability, actions, and service of process. (a) Neither the association nor
any unit owner shall be liable for the individual acts or omissions of any other unit owner.
(b) All actions seeking liability of unit owners arising by virtue of their condominium ownership
and who are not liable by reason of any act or omission on their own part shall be directed
against the association and defended by the association. Where plaintiff's demand exceeds
unit owner insurance established by the association, such unit owner must be given notice
by the association and shall have the right at his own expense to individual representation
by counsel. (c) A unit owner, not liable by reason of any act or omission on his own part,
shall have no liability for any settlement, judgment, or cost of defense incurred by the association
with relation to limited common elements in which he has no interest. (d) A unit owner shall
be liable for no more than a pro rata share of any settlement,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-8-12.htm - 3K - Match Info - Similar pages

35-8A-312
Section 35-8A-312 Conveyance or encumbrance of common elements. (a) In a condominium portions
of the common elements may be conveyed or subjected to a security interest by the association
if persons entitled to cast at least 80 percent of the votes in the association, including
80 percent of the votes allocated to units not owned by a declarant, or any larger percentage
the declaration specifies, agree to that action; but all the owners of units to which any
limited common element is allocated must agree in order to convey that limited common element
or subject it to a security interest. The declaration may specify a smaller percentage only
if all of the units are restricted exclusively to nonresidential uses. Proceeds of the sale
or loan are an asset of the association. (b) An agreement to convey common elements in a condominium
or subject them to a security interest must be evidenced by the execution of an agreement,
or ratifications thereof, in the same manner as a deed, by the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-8A-312.htm - 2K - Match Info - Similar pages

19-3D-11
Section 19-3D-11 Decanting power under expanded distributive dicretion. (a) In this section
the following terms have the following meanings: (1) NONCONTINGENT RIGHT. A right that is
not subject to the exercise of discretion or the occurrence of a specified event that is not
certain to occur. The term does not include a right held by a beneficiary if any person has
discretion to distribute property subject to the right to any person other than the beneficiary
or the beneficiary's estate. (2) PRESUMPTIVE REMAINDER BENEFICIARY. A qualified beneficiary
other than a current beneficiary. (3) SUCCESSOR BENEFICIARY. A beneficiary that is not a qualified
beneficiary on the date the beneficiary's qualification is determined. The term does not include
a person that is a beneficiary only because the person holds a nongeneral power of appointment.
(4) VESTED INTEREST. (A) A right to a mandatory distribution that is a noncontingent right
as of the date of the exercise of the decanting power; (B) a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-3D-11.htm - 4K - Match Info - Similar pages

35-8A-110
Section 35-8A-110 Chapter to be liberally construed; remedies liberally administered. (a) Notwithstanding
a finding that this chapter is in derogation of the common law, it should be liberally construed
to effectuate its purpose of encouraging development and construction of condominium property
under the provisions of this chapter. The remedies provided by this chapter shall be liberally
administered to the end that the aggrieved party is put in as good a position as if the other
party had fully performed. (b) Any right or obligation declared by this chapter is enforceable
by judicial proceeding. (Acts 1990, No. 90-551, p. 858, §1-112.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-8A-110.htm - 964 bytes - Match Info - Similar pages