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7-8-115
Section 7-8-115 Securities intermediary and others not liable to adverse claimant. A securities
intermediary that has transferred a financial asset pursuant to an effective entitlement order,
or a broker or other agent or bailee that has dealt with a financial asset at the direction
of its customer or principal, is not liable to a person having an adverse claim to the financial
asset, unless the securities intermediary, or broker or other agent or bailee: (1) took the
action after it had been served with an injunction, restraining order, or other legal process
enjoining it from doing so, issued by a court of competent jurisdiction, and had a reasonable
opportunity to act on the injunction, restraining order, or other legal process; or (2) acted
in collusion with the wrongdoer in violating the rights of the adverse claimant; or (3) in
the case of a security certificate that has been stolen, acted with notice of the adverse
claim. (Acts 1996, No. 96-742, p. 1241, ยง1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-8-115.htm - 1K - Match Info - Similar pages
7-8-103
Section 7-8-103 Rules for determining whether certain obligations and interests are securities
or financial assets. (a) A share or similar equity interest issued by a corporation, business
trust, joint stock company, or similar entity is a security. (b) An "investment company
security" is a security. "Investment company security" means a share or similar
equity interest issued by an entity that is registered as an investment company under the
federal investment company laws, an interest in a unit investment trust that is so registered,
or a face-amount certificate issued by a face-amount certificate company that is so registered.
Investment company security does not include an insurance policy or endowment policy or annuity
contract issued by an insurance company. (c) An interest in a partnership or limited liability
company is not a security unless it is dealt in or traded on securities exchanges or in securities
markets, its terms expressly provide that it is a security governed by...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-8-103.htm - 2K - Match Info - Similar pages
7-8-210
Section 7-8-210 Overissue. (a) In this section, "overissue" means the issue of securities
in excess of the amount the issuer has corporate power to issue, but an overissue does not
occur if appropriate action has cured the overissue. (b) Except as otherwise provided in subsections
(c) and (d), the provisions of this article which validate a security or compel its issue
or reissue do not apply to the extent that validation, issue, or reissue would result in overissue.
(c) If an identical security not constituting an overissue is reasonably available for purchase,
a person entitled to issue or validation may compel the issuer to purchase the security and
deliver it if certificated or register its transfer if uncertificated, against surrender of
any security certificate the person holds. (d) If a security is not reasonably available for
purchase, a person entitled to issue or validation may recover from the issuer the price the
person or the last purchaser for value paid for it with...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-8-210.htm - 1K - Match Info - Similar pages
7-8-105
Section 7-8-105 Notice of adverse claim. (a) A person has notice of an adverse claim if: (1)
the person knows of the adverse claim; (2) the person is aware of facts sufficient to indicate
that there is a significant probability that the adverse claim exists and deliberately avoids
information that would establish the existence of the adverse claim; or (3) the person has
a duty, imposed by statute or regulation, to investigate whether an adverse claim exists,
and the investigation so required would establish the existence of the adverse claim. (b)
Having knowledge that a financial asset or interest therein is or has been transferred by
a representative imposes no duty of inquiry into the rightfulness of a transaction and is
not notice of an adverse claim. However, a person who knows that a representative has transferred
a financial asset or interest therein in a transaction that is, or whose proceeds are being
used, for the individual benefit of the representative or otherwise in breach...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-8-105.htm - 2K - Match Info - Similar pages
8-6-8
Section 8-6-8 Registration of securities - Registration statement; conditions precedent; bond;
notice of action; fees; quarterly reports and financial statements; discharge from supervision.
(a) A registration statement on securities may be filed by the issuer, any other person on
whose behalf the offering is to be made, or a registered dealer. Any document filed under
this article within five years preceding the filing of a registration statement may be incorporated
by reference in the registration statement to the extent that the document is currently accurate.
The commission may permit, by rule or otherwise, the omission of any item of information or
document from any registration statement. (b) The Securities Commission may require as a condition
of registration by qualification or coordination that: (1) proceeds from the sale of the registered
security be impounded until the issuer receives a specified amount, or (2) any security issued
within the past three years, or to be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-6-8.htm - 8K - Match Info - Similar pages
27-19-103
Section 27-19-103 Definitions. Unless the context requires otherwise, the definitions in this
section apply throughout this article. (1) APPLICANT. In the case of: a. An individual long-term
care insurance policy, the person who seeks to contract for benefits. b. A group long-term
care insurance policy, the proposed certificate holder. (2) CERTIFICATE. Any certificate issued
under a group long-term care insurance policy, which policy has been delivered or issued for
delivery in this state. (3) COMMISSIONER. The Alabama Commissioner of Insurance. (4) GROUP
LONG-TERM CARE INSURANCE. A long-term care insurance policy which is delivered or issued for
delivery in this state and issued to any of the following: a. One or more employers or labor
organizations, or to a trust or to the trustees of a fund established by one or more employers
or labor organizations, or a combination thereof, for employees or former employees or a combination
thereof, or for members or former members or a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-19-103.htm - 9K - Match Info - Similar pages
41-10-141
Section 41-10-141 Powers and duties of authority generally. An authority shall have 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 in perpetuity) specified in its certificate of incorporation; (2) To maintain civil
actions and have civil actions maintained against it in its corporate name, except as otherwise
provided in this article, and to defend civil actions against it; (3) To adopt and make use
of a corporate seal and to alter the same at pleasure; (4) To amend its certificate of incorporation
by filing in the office of the Secretary of State a certificate signed by all of the directors
of the authority setting forth the details of the amendment, such certificate to be acknowledged
in the same manner as the certificate of incorporation; (5) To adopt and alter bylaws for
the regulation and conduct of its affairs and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-141.htm - 5K - Match Info - Similar pages
13A-8-111
Section 13A-8-111 Definitions. As used in this article, the following terms shall have the
following meanings: (1) ACCESS. To gain entry to, instruct, communicate with, store data in,
retrieve or intercept data from, alter data or computer software in, or otherwise make use
of any resource of a computer, computer system, or computer network. (2) COMPUTER. An electronic,
magnetic, optical, electrochemical, or other high speed data processing device or system that
performs logical, arithmetic, or memory functions by the manipulations of electronic or magnetic
impulses and includes all input, output, processing, storage, or communication facilities
that are connected or related to the device. (3) COMPUTER NETWORK. The interconnection of
two or more computers or computer systems that transmit data over communication circuits connecting
them. (4) COMPUTER PROGRAM. An ordered set of data representing coded instructions or statements
that when executed by a computer cause the computer to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/13A-8-111.htm - 7K - Match Info - Similar pages
10A-2A-1.20
Section 10A-2A-1.20 Requirements for filing instruments; extrinsic facts. (a) Whenever any
filing instrument is to be filed with the Secretary of State or in accordance with this chapter,
such instrument shall be executed as follows: (1) Except as provided in subsection (a)(3),
the certificate of incorporation, and any other instrument to be filed before the election
of the initial board of directors if the initial directors were not named in the certificate
of incorporation, shall be signed by the incorporator or incorporators or the successors and
assigns of the incorporator or incorporators. If any incorporator is not available then any
other instrument may be signed, with the same effect as if the incorporator had signed it,
by any person for whom or on whose behalf the incorporator, in executing the certificate of
incorporation, was acting directly or indirectly as employee or agent, provided that the other
instrument shall state that the incorporator is not available and the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2A-1.20.htm - 5K - Match Info - Similar pages
34-27-50
Section 34-27-50 Definitions. For the purposes of this article, the following terms shall have
the meaning respectively ascribed to them by this section: (1) ACCOMMODATIONS. Any hotel or
motel room, condominium, or cooperative unit, cabin, lodge, apartment, or any other private
or commercial structure designed for occupancy by one or more individuals or any recreational
vehicle campsite or campground. (2) BUSINESS ENTITY. Any individual, corporation, firm, association,
joint venture, partnership, trust, estate, business trust, syndicate, fiduciary, and any other
group or combination which engages in acts or practices in any trade or commerce. (3) CONTRACT.
Any contract, promissory note, credit agreement, negotiable instrument, lease, use agreement,
license, security, or other muniment conferring on the purchaser the rights, benefits, and
obligations of a vacation time-sharing plan. (4) COMMISSION. The Alabama Real Estate Commission.
(5) COMMISSIONER. A member of the Alabama Real Estate...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/34-27-50.htm - 7K - Match Info - Similar pages
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