For purposes of this chapter, the following terms shall have the following meanings:

Terms Used In Alabama Code 16-17A-2

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • following: means next after. See Alabama Code 30-3D-608
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • property: includes both real and personal property. See Alabama Code 30-3D-608
  • state: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Alabama Code 30-3D-608
  • Trustee: A person or institution holding and administering property in trust.

(1) ACADEMIC MEDICAL CENTER. The teaching, research, and clinical facilities provided, established, or operated by a constitutionally created public university in the state or a university that operates a school of medicine.

(2) AUTHORITY. A public corporation organized pursuant to the provisions of this chapter.

(3) BOARD. The board of directors of an authority.

(4) DIRECTOR. A member of the board of an authority.

(5) GOVERNMENTAL ENTITY. The state, a county, a municipality, or any department, agency, board, or commission of the state, a county, or a municipality.

(6) HEALTH CARE FACILITY. All property or rights in property, real or personal, tangible or intangible, useful to an authority in its operations, including without limitation, the following:

a. Facilities necessary or desirable to the operation of an academic medical center, one or more health sciences schools, hospitals, public health care clinics, treatment centers, emergency facilities, outpatient facilities, laboratories, service or support facilities, and any other facilities related to the operation of any of the foregoing.

b. Biomedical or public health research establishments of any type.

c. Ambulance, helicopter, and other similar facilities and services for the transportation of sick or injured persons.

d. Land necessary or desirable to any of the foregoing, whether presently or in the future.

e. Machinery, equipment, furniture, and fixtures useful or desirable in the operation of any of the foregoing.

Health care facilities may serve physical or mental health. A determination by a board that an asset constitutes a health care facility shall be conclusive, absent manifest error.

(7) HEALTH SCIENCES SCHOOL. Any school of medicine, dentistry, nursing, pharmacy, optometry, ophthalmology, and any other health care-related educational program operated or provided by a university in this state.

(8) INDEBTEDNESS. Bonds, notes, certificates of indebtedness, debt securities, capital lease agreements, or any other evidence of indebtedness.

(9) NONPROFIT ORGANIZATION. Any nonprofit corporation, limited liability company, partnership, or other form of business organization in which no part of the income or profit is distributable to any individual or entity other than a university, an authority, a governmental entity, a public corporation, or a nonprofit corporation that is an organization described in Section 501(c)(3) of the Internal Revenue Code.

(10) PUBLIC CORPORATION. A public corporation organized by the state, a county, or a municipality, whether acting alone or jointly, pursuant to state law.

(11) SECURITY DOCUMENT. A trust indenture, loan agreement, lease agreement, mortgage, security instrument or agreement, or other document securing any indebtedness or other obligation of an authority in favor of the holder or holders of any such indebtedness or other obligation or a trustee for such holders.

(12) SPONSORING UNIVERSITY. The university that authorizes the incorporation of an authority.

(13) UNIVERSITY. A constitutionally created public university in the state or a public university in the state that operates a school of medicine.

(14) UNIVERSITY AFFILIATE. Any public corporation or nonprofit organization that is controlled, directly or indirectly, by a university or an authority. A university or authority controls a public corporation or nonprofit organization if it: Owns a majority of any stock, membership interests, partnership interests, or other similar interests, if any, in such entity; has the right or power to appoint a majority of the members of the governing body of the entity; and has the right to distribution of a majority of the assets of the entity upon dissolution. A university or authority may control an entity directly or indirectly through one or more entities each of which qualifies as a university affiliate. Notwithstanding control by a university or authority, an entity is not a university affiliate if any individual or for-profit entity owns any interest in the entity or has the right or power to appoint one or more members of the governing body of the entity or if the mission of the entity is not consistent with the public health mission of a university.

(Act 2016-201, §2.)