Section 41-10-762 – Notice and Hearing Not Required.
Section 41-10-762 Notice and hearing not required. Except as may be expressly provided in this article, no proceeding, notice, or approval shall be required for the issuance of any bonds by the authority, the execution of any mortgage and deed of trust, trust indenture, or other document, or the exercise of any other of the […]
Section 41-10-808 – Amendments.
Section 41-10-808 Amendments. At any time, the board, by majority vote, may cause its application for formation to be amended by having three of its directors file an amendment with the Secretary of State, which shall be sworn to by each signatory thereto before an officer authorized to take acknowledgments to deeds. (Act 2021-455, §1.)
Section 41-10-763 – Applicability of Other Laws.
Section 41-10-763 Applicability of other laws. Articles 2 and 3 of Chapter 16, Title 41, and other similar laws shall not apply to the authority, its directors, or any of its officers, agents, or employees in their capacities as such. (Act 2016-469, 1st Sp Sess., §14.)
Section 41-10-809 – Dissolution.
Section 41-10-809 Dissolution. At any time, the board, by three-quarters vote, may dissolve the corporation by having three-quarters of its directors file with the Secretary of State an application for dissolution, which shall be sworn to by each signatory thereto by an officer authorized to take acknowledgments to deeds. Upon the filing of the application […]
Section 41-10-764 – Dissolution.
Section 41-10-764 Dissolution. At any time when no bonds of the authority are outstanding, the authority may be dissolved upon the filing with the Secretary of State of an application for dissolution, which shall be subscribed by each of the directors of the authority and sworn to by each director before an officer authorized to […]
Section 41-10-765 – Diversity.
Section 41-10-765 Diversity. In connection with the sale of its bonds, the authority shall, to the extent practical, utilize businesses and companies that reflect the racial and ethnic diversity of the state. (Act 2016-469, 1st Sp Sess., §16.)
Section 41-10-750 – Legislative Findings and Purpose.
Section 41-10-750 Legislative Findings and Purpose. (a) The Legislature finds and declares the following: (1) In recent years, withdrawals have been made from the Alabama Trust Fund and the General Fund Rainy Day Account of the Alabama Trust Fund for current budgetary purposes. The Constitution and laws of the State of Alabama require repayment of […]
Section 41-10-751 – Definitions.
Section 41-10-751 Definitions. When used in this article, the following terms shall have the following meanings, unless the context clearly indicates otherwise: (1) ALABAMA TRUST FUND. The trust fund of the state created under Amendment 450 to the Constitution of Alabama of 1901, and appearing as §219.02 of the Official Recompilation of the Constitution of […]
Section 41-10-752 – Incorporation of Authority Authorized; Application; Filing.
Section 41-10-752 Incorporation of authority authorized; application; filing. (a) To become a public corporation and instrumentality of the state with the powers herein provided, the Governor, the State Treasurer, the Speaker of the House of Representatives, the President Pro Tempore of the Senate, the Secretary of Labor, and the Finance Director shall present to the […]
Section 41-10-753 – Members, Officers, and Directors.
Section 41-10-753 Members, officers, and directors. The applicants named in the application and their respective successors in office shall constitute the members of the authority. The president, vice president, and secretary of the authority shall be elected by the members and shall serve for the terms and conditions as the members may establish. The State […]