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5-17-8.1
Section 5-17-8.1 Investigatory and enforcement powers of administrator, board, designee, etc.
(a) The administrator or the administrator's designee, in consultation with the agency's legal
counsel acting under the administrator, may administer oaths and may examine under oath any
person whose testimony may be required on the examination of any credit union, or the examination
of any affiliate of a credit union, and shall have authority and power to compel the appearance
and attendance of any such person or the production of any records and documents of any credit
union or any affiliate of a credit union for the purpose of any examination. Attendance or
production may be enforced by order of the Circuit Court, 15th Judicial District. The production
of records, documents, or testimony, whether or not made under oath, by a credit union or
by any of its directors, officers, employees, advisors, consultants, attorneys, or accountants
made for, and at the request of, the administrator upon...
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5-1A-4
Section 5-1A-4 Restrictions on engaging in banking business. No person, firm, corporation or
other entity except a bank or if otherwise lawfully authorized a credit union or a savings
and loan association may lend money and either receive deposits or pay checks at its principal
office or branch in this state. (Acts 1980, No. 80-658, ยง5-1-4.)...
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5-17-15
Section 5-17-15 Deposits for minor or trust beneficiaries; deposits in names of two persons.
(a) A minor, in his or her own name, may make a general or special deposit in any credit union.
The deposit shall be paid only to the minor, or upon his or her order, and not to the parents
or guardians of the minor, and the payment shall be valid as against the minor child and his
or her parents or guardian. (b) Shares may be issued and withdrawn and deposits received and
paid out in the name of a minor or in trust in such manner as the bylaws may provide. The
name of the beneficiary must be disclosed to the credit union. If no other notice of the existence
and terms of such trust has been given in writing to the corporation, such shares or deposits
may, upon the death of the trustee, be transferred to or withdrawn by the person who was named
by the trustee as the beneficiary or by his or her legal representative, and such transfer
or withdrawal shall release the corporation from liability to...
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7-4A-105
Section 7-4A-105 Other definitions. (a) In this article: (1) "Authorized account"
means a deposit account of a customer in a bank designated by the customer as a source of
payment of payment orders issued by the customer to the bank. If a customer does not so designate
an account, any account of the customer is an authorized account if payment of a payment order
from that account is not inconsistent with a restriction on the use of that account. (2) "Bank"
means a person engaged in the business of banking and includes a savings bank, savings and
loan association, credit union, and trust company. A branch or separate office of a bank is
a separate bank for purposes of this article. (3) "Customer" means a person, including
a bank, having an account with a bank, or from whom a bank has agreed to receive payment orders.
(4) "Funds-transfer business day" of a receiving bank means the part of a day during
which the receiving bank is open for the receipt, processing, and transmittal of...
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10A-2-8.30
Section 10A-2-8.30 General standards for directors. REPEALED IN THE 2019 REGULAR SESSION BY
ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) A director
shall discharge his or her duties as a director, including duties as a member of a committee:
(1) In good faith; (2) With the care an ordinarily prudent person in a like position would
exercise under similar circumstances; and (3) In a manner the director believes to be in the
best interests of the corporation. (b) In discharging his or her duties, a director is entitled
to rely on information, opinions, reports, or statements, including financial statements and
other financial data, if prepared or presented by: (1) One or more officers or employees of
the corporation whom the director reasonably believes to be reliable and competent in the
matters; (2) Legal counsel, public accountants, certified public accountants, or other persons
as to matters the director reasonably believes are within the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-8.30.htm - 2K - Match Info - Similar pages
26-1-5
Section 26-1-5 Age of majority for purposes of contracting with banks, credit unions, etc.,
for certain loans or accounts; requirements for members of Armed Forces. (a) Notwithstanding
Section 26-1-1, the age of majority for the purposes of contracting for educational loans
for college level education and above, within the State of Alabama, shall be 17 years of age.
(b) Notwithstanding Section 26-1-1, for purposes of contracting with a bank, credit union,
or similar savings and loan institution, including obtaining a loan or opening a checking
or savings account, a member of any branch of the Armed Forces of the United States shall
be deemed to have attained the age of majority and shall be relieved of his or her disabilities
of minority for that purpose, and he or she may continue to be deemed to have reached the
age of majority even if he or she shall subsequently no longer be a member of the Armed Forces
of the United States. A member of the Armed Forces of the United States who...
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36-27-5
Section 36-27-5 Membership - Members of Board of Pardons and Paroles; Director of Physical
Fitness Department. (a) Any person who has been regularly appointed to the state Board of
Pardons and Paroles or a former member of said board, or Director of Physical Fitness Department
shall be deemed to be an "employee" of the State of Alabama, as defined in Section
36-27-1. From the date he assumes his duties, any such person shall be deemed to be a "member"
of the state Employees' Retirement System, as defined in Section 36-27-4; provided, that the
required contributions are made to the system. (b) Any person serving as of November 21, 1975,
shall be entitled to receive credit toward his retirement allowance for any service previously
rendered as a member of the Board of Pardons and Paroles or former member or Director of Physical
Fitness Department, and any person serving in such positions thereafter shall become a member
of the Employees' Retirement System as a condition of employment. If...
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7-1-201
Section 7-1-201 General definitions. (a) [Reserved]. (b) Subject to additional definitions
contained in the subsequent articles of this title which are applicable to specific articles
or parts thereof, and unless the context otherwise requires, in this title: (1) "Action,"
in the sense of a judicial proceeding, includes recoupment, counterclaim, set-off, suit in
equity, and any other proceeding in which rights are determined. (2) "Aggrieved party"
means a party entitled to pursue a remedy. (3) "Agreement," as distinguished from
"contract," means the bargain of the parties in fact, as found in their language
or inferred from other circumstances, including course of performance, course of dealing,
or usage of trade as provided in Section 7-1-303. (4) "Bank" means a person engaged
in the business of banking and includes a savings bank, savings and loan association, credit
union, and trust company. (5) "Bearer" means a person in possession of a negotiable
instrument, document of title, or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-1-201.htm - 11K - Match Info - Similar pages
26-1A-208
Section 26-1A-208 Banks and other financial institutions. Unless the power of attorney otherwise
provides, language in a power of attorney granting general authority with respect to banks
and other financial institutions authorizes the agent to: (1) continue, modify, and terminate
an account or other banking arrangement made by or on behalf of the principal; (2) establish,
modify, and terminate an account or other banking arrangement with a bank, trust company,
savings and loan association, credit union, thrift company, brokerage firm, or other financial
institution selected by the agent; (3) contract for services available from a financial institution,
including renting a safe deposit box or space in a vault; (4) withdraw, by check, order, electronic
funds transfer, or otherwise, money or property of the principal deposited with or left in
the custody of a financial institution; (5) receive statements of account, vouchers, notices,
and similar documents from a financial institution...
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40-9F-38
Section 40-9F-38 Historic Tax Credit Evaluating Committee. (a) There is hereby established
the Historic Tax Credit Evaluating Committee, which shall review qualifying projects, approve
credits for projects, and rank projects in the order in which the projects should receive
tax credit reservations based on criteria established by the commission. The commission shall
establish a review cycle for the committee beginning on January 1, 2018, provided that the
committee shall meet at least quarterly unless no credits remain to be allocated. The Commissioner
of Revenue shall be a non-voting member of the committee and provide advisory and technical
support. The committee shall consist of the following: (1) Director of the Governor's Office
of Minority Affairs. (2) The Executive Director of the Alabama Historical Commission. (3)
The Finance Director. (4) The Director of the Alabama Department of Economic and Community
Affairs. (5) The Secretary of Commerce. (6) Two members of the Alabama...
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