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45-41A-40.08
Section 45-41A-40.08 Powers of the authority. (a) The authority shall have all of the following
powers, together with all powers incidental thereto or necessary to the discharge thereof
in corporate form: (1) To have succession by its corporate name for the duration of time which
may be perpetuity, subject to Section 45-41A-40.19, specified in its certificate of incorporation.
(2) To sue and be sued in its own name and to prosecute and defend civil actions in any court
having jurisdiction of the subject matter and of the parties. (3) To adopt and make use of
a corporate seal and to alter the same at pleasure. (4) To adopt and alter bylaws for the
regulation and conduct of its affairs and business. (5) To acquire, whether by purchase, construction,
exchange, gift, lease, or otherwise and to refinance existing indebtedness on, improve, maintain,
equip, and furnish one or more projects, including all real and personal properties which
the board of the authority may deem necessary in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-41A-40.08.htm - 8K - Match Info - Similar pages
27-44-8
Section 27-44-8 Powers and duties of association. (a) If a member insurer is an impaired insurer,
the association may, in its discretion and subject to any conditions imposed by the association
that do not impair the contractual obligations of the impaired insurer, and that are approved
by the commissioner: (1) Guarantee or reinsure, or cause to be guaranteed, assumed, or reinsured,
any or all of the covered policies of the impaired insurers. (2) Provide such moneys, pledges,
notes, guarantees, or other means as are proper to effectuate subdivision (1), and assure
payment of the contractual obligations of the impaired insurer pending action under subdivision
(1). (b) If a member insurer is an insolvent insurer, the association shall, in its discretion
and subject to the approval of the commissioner, do either of the following: (1)a. Guarantee,
assume, or reinsure, or cause to be guaranteed, assumed, or reinsured, the covered policies
of the insolvent insurer. b. Assure payment of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-44-8.htm - 24K - Match Info - Similar pages
28-3-190
Section 28-3-190 Levy of tax; collection; disposition of proceeds by localities; enforcement
and administration; penalties; exclusive nature of tax. (a) Levy. In addition to the excise
tax levied by Article 5A of Chapter 3 of this title and the licenses provided for by Chapter
3A of this title and by Section 28-3-194, and any acts amendatory thereof, supplementary thereto
or substituted therefor, and municipal and county licenses, there is hereby levied a privilege
or excise tax on every person licensed under the provisions of Chapter 3A who sells, stores,
or receives for the purpose of distribution, to any person, firm, corporation, club, or association
within the State of Alabama any beer. The tax levied hereby shall be measured by and graduated
in accordance with the volume of sales by such person of beer, and shall be an amount equal
to one and six hundred twenty-five thousands cents (1.625 cents) for each four fluid ounces
or fractional part thereof. (b) Collection. The tax levied...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/28-3-190.htm - 43K - Match Info - Similar pages
37-11A-1
Section 37-11A-1 Execution and text of compact. The Governor, on behalf of this state, shall
execute a compact, in substantially the following form, with the State of Mississippi, and
the Legislature approves and ratifies the compact in the form substantially as follows: Northeast
Mississippi - Northwest Alabama Railroad Authority Compact. The contracting states solemnly
agree: Article I. The purpose of this compact is to promote and develop trade, commerce, industry,
and employment opportunities for the public good and welfare in northeast Mississippi and
northwest Alabama through the establishment of a joint interstate authority to acquire certain
railroad properties and facilities which the operator thereof has notified the Interstate
Commerce Commission of an intention to abandon and which are located in any of Franklin, Marion,
or Winston Counties, Alabama or in Alcorn or Tishomingo Counties, Mississippi. Article II.
This compact shall become effective immediately as to the State...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-11A-1.htm - 33K - Match Info - Similar pages
40-14A-2
Section 40-14A-2 Operating rules. (a) The taxpayer's net worth shall be determined for purposes
of the taxes levied by this chapter in accordance with the accounting principles used in preparing
the taxpayer's financial statements reported to its owners. If the taxpayer's financial statements
are not prepared in accordance with generally accepted accounting principles, then net worth
for such purposes shall be determined either on the same basis as it prepares its federal
income tax return or as required by the appropriate regulatory agencies having jurisdiction.
However, in the case of a taxpayer that is an insurer holding a certificate of authority to
conduct an insurance business within the State of Alabama, net worth for such purposes shall
be computed on the same basis as its financial statements are prepared in accordance with
the requirements of the State of Alabama Insurance Department. (b) Net worth may be determined
from the taxpayer's financial statements for its...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-14A-2.htm - 1K - Match Info - Similar pages
6-11-21
Section 6-11-21 Punitive damages not to exceed certain limits. (a) Except as provided in subsections
(b), (d), and (j), in all civil actions where an entitlement to punitive damages shall have
been established under applicable laws, no award of punitive damages shall exceed three times
the compensatory damages of the party claiming punitive damages or five hundred thousand dollars
($500,000), whichever is greater. (b) Except as provided in subsections (d) and (j), in all
civil actions where entitlement to punitive damages shall have been established under applicable
law against a defendant who is a small business, no award of punitive damages shall exceed
fifty thousand dollars ($50,000) or 10 percent of the business' net worth, whichever is greater.
(c) "Small business" for purposes of this section means a business having a net
worth of two million dollars ($2,000,000) or less at the time of the occurrence made the basis
of the suit. (d) Except as provided in subsection (j), in all...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/6-11-21.htm - 3K - Match Info - Similar pages
10A-30-2.12
Section 10A-30-2.12 Shareholders' option to dissolve corporation; applicable to corporations
formed as close corporations or electing close corporation status prior to January 1, 1995.
(a) The certificate of formation of any close corporation may include a provision granting
to any shareholder, or to the holders of any specified number or percentage of shares of any
class of shares, an option to have the corporation dissolved at will or upon the occurrence
of any specified event or contingency. Whenever any such option to dissolve is exercised,
the shareholders exercising the option shall give written notice thereof to all other shareholders.
After the expiration of 30 days following the sending of the notice, the dissolution of the
corporation shall proceed as if the required number of shareholders having voting power had
consented in writing to dissolution of the corporation as provided by the Alabama Business
Corporation Law. (b) If the certificate of formation as originally filed...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-30-2.12.htm - 2K - Match Info - Similar pages
40-7-24
Section 40-7-24 Failure to make return of gross or net receipts or commissions from business.
When any person or any company, corporation, or association existing under the laws of this
state, or under the laws of any other state or country, doing business in this state is required
to make to the assessor returns of the gross or net receipts or commissions of such business,
and such returns are not made within the time required by law, but shall remain in default
for the space of 10 days thereafter, the assessor, after notice to the party required to make
such returns or, if he is absent from the county, without notice, shall upon the best information
he can obtain list and make up such returns upon the proper blank, describing the property
to be assessed as other items of property are described, noting thereon the failure of the
owner after notice to make such return and the accrual of a penalty of 10 percent of the taxes
to be assessed thereon. (Acts 1935, No. 194, p. 256; Code 1940,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-7-24.htm - 1K - Match Info - Similar pages
34-14A-7
Section 34-14A-7 Applications for issuance or renewal of license; records; inactive license.
(a) Any residential home builder who desires to receive a new or renewal license under this
chapter shall make and file with the board 30 days prior to the next meeting of the board
a written application on a form prescribed by the board. Each applicant shall be a citizen
of the United States or, if not a citizen of the United States, a person who is legally present
in the United States with appropriate documentation from the federal government. Such application
shall be accompanied by the payment of the annual license fee required by the board. After
the board accepts the application, the applicant may be examined by the board at its next
meeting. The board, in examining the applicant, shall consider the following qualifications
of the applicant: (1) Experience. (2) Ability. (3) Character. (4) Business-related financial
condition. a. The board may require a financial statement on a form...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/34-14A-7.htm - 7K - Match Info - Similar pages
10A-2-13.02
Section 10A-2-13.02 Right to dissent. REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE
JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) A shareholder is entitled
to dissent from, and obtain payment of the fair value of his or her shares in the event of,
any of the following corporate actions: (1) Consummation of a plan of merger to which the
corporation is a party (i) if shareholder approval is required for the merger by Section 10A-2-11.03
or the articles of incorporation and the shareholder is entitled to vote on the merger or
(ii) if the corporation is a subsidiary that is merged with its parent under Section 10A-2-11.04;
(2) Consummation of a plan of share exchange to which the corporation is a party as the corporation
whose shares will be acquired, if the shareholder is entitled to vote on the plan; (3) Consummation
of a sale or exchange by all, or substantially all, of the property of the corporation other
than in the usual and regular course of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-13.02.htm - 3K - Match Info - Similar pages
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