Terms Used In Alabama Code > Title 11 > Title 2 > Chapter 40
- Account: means any deposit or credit account with a bank, including a demand, time, savings, passbook, share draft, or like account, other than an account evidenced by a certificate of deposit;
(2) "Afternoon" means the period of a day between noon and midnight;
(3) "Banking day" means the part of a day on which a bank is open to the public for carrying on substantially all of its banking functions;
(4) "Clearing house" means an association of banks or other payors regularly clearing items;
(5) "Customer" means a person having an account with a bank or for whom a bank has agreed to collect items, including a bank that maintains an account at another bank;
(6) "Documentary draft" means a draft to be presented for acceptance or payment if specified documents, certificated securities (Section 7-8-102) or instructions for uncertificated securities (Section 7-8-308), or other certificates, statements, or the like are to be received by the drawee or other payor before acceptance or payment of the draft;
(7) "Draft" means a draft as defined in Section 7-3-104 or an item, other than an instrument, that is an order;
(8) "Drawee" means a person ordered in a draft to make payment;
(9) "Item" means an instrument or a promise or order to pay money handled by a bank for collection or payment. See Alabama Code 7-4-104
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- AGRICULTURAL CENTER BOARD: The board of that name established pursuant to Article 2 of this chapter. See Alabama Code 2-6-70
- AGRICULTURAL FUND: The fund of that name created and administered pursuant to Article 1, Chapter 9, Title 2. See Alabama Code 2-6-70
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Amortization: Paying off a loan by regular installments.
- Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
- appropriate municipal official: as used in this article shall mean any municipal building official or deputy and any other municipal official or municipal employee designated by the mayor or other chief executive officer of the municipality as the person to exercise the authority and perform the duties delegated by this article. See Alabama Code 11-40-31
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Bequest: Property gifted by will.
- board: The Agricultural Center Board created by Sections 2-6-1 and 2-6-2. See Alabama Code 2-6-50
- BOARD OF AGRICULTURE AND INDUSTRIES: The Alabama Board of Agriculture and Industries created pursuant to Section 2-3-1. See Alabama Code 2-6-70
- bonds: Those bonds, including the refunding bonds, issued under and pursuant to the provisions of this article. See Alabama Code 2-5A-30
- BUILDING COMMISSION: The Building Commission created under Article 6, Chapter 9, Title 41, and any successor agency thereto. See Alabama Code 2-6-70
- CAPACITY TO PROCEED OR CONTINUE TO TRIAL: Whether or not a defendant accused of a crime:
a. See Alabama Code 22-52-30
- circuit: means judicial circuit. See Alabama Code 1-1-1
- coliseum: The existing coliseum building located in the Alabama Agricultural Center in the City of Montgomery. See Alabama Code 2-6-50
- coliseum: The existing Garrett Coliseum and the grounds and other buildings and structures associated therewith, all owned by the Agricultural Center Board and located in the City of Montgomery, Alabama. See Alabama Code 2-6-70
- commissioner: The Commissioner of Agriculture and Industries. See Alabama Code 2-1-1
- commissioner: The Commissioner of the Alabama State Department of Mental Health. See Alabama Code 22-52-1.1
- commissioner: The Commissioner of the Department of Mental Health of the State of Alabama. See Alabama Code 22-52-30
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- Conviction: A judgement of guilt against a criminal defendant.
- CORPORATION: Any public corporation which may be organized pursuant to any law now in force or hereafter enacted for the purpose of acquiring title to and completing the construction and equipment of the coliseum and the necessary facilities in connection therewith. See Alabama Code 2-6-50
- corporation: The public corporation authorized to be created by this article. See Alabama Code 2-6-70
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
- department: The Alabama State Department of Mental Health. See Alabama Code 22-52-1.1
- DESIGNATED MENTAL HEALTH FACILITY: A mental health facility other than a state mental health facility designated by the State Department of Mental Health to receive persons for evaluation, examination, admission, detention or treatment pursuant to the provisions of this article. See Alabama Code 22-52-1.1
- Devise: To gift property by will.
- Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
- ELIGIBLE INVESTMENTS: (i) Any time deposit with, or any certificate of deposit issued by, any bank, savings bank or savings and loan association which is organized under the laws of the United States of America that may succeed to the functions of such corporation; (ii) any debt securities that are direct, general obligations of the United States of America; (iii) any debt securities payment of the principal of and interest on which is unconditionally guaranteed by the United States of America; (iv) any debt securities (including participation certificates) that are direct, general obligations of any of the following agencies of the United States of America: the Export-Import Bank of the United States, the Federal Farm Credit Bank, the Federal Land Banks, the Federal Immediate Credit Banks, the Banks for Cooperatives, the Federal Home Loan Banks (including any joint obligations of any two or more of the foregoing agencies), the Federal Home Loan Mortgage Corporation, the Government National Mortgage Association, the Federal National Mortgage Association, the Farmers Home Administration, or any other agency or instrumentality of the United States of America; (v) any repurchase obligations of any bank, savings bank or savings and loan association which is a member of the Federal Deposit Insurance Corporation or the Federal Savings and Loan Insurance Corporation (or any department, agency or instrumentality of the United States of America that shall succeed to the functions of such federal corporation), which repurchase obligations are at least 100 percent secured by any one or more classes of eligible investments described in (i) through (iv), inclusive, above; (vi) any security or interest therein, whether secured or unsecured, in which an insurance company or a savings and loan association organized under the laws of the state may legally invest its own moneys at the time of investment therein by the corporation; (vii) shares of any money market fund registered and regulated under the Federal Investment Company Act of 1940, as amended, as a no-load, open-end management investment company, the portfolio assets of which consist solely of cash and eligible investments and repurchase agreements fully secured by any one or more classes of eligible investments; and (viii) any debt obligation, debt instrument or deposit obligation in which trustees are legally permitted to invest under the laws of the state at the time of investment therein by the corporation. See Alabama Code 2-6-70
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- 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.
- Executor: A male person named in a will to carry out the decedent
- facility: Any state-owned or state-operated hospital or other facility, whether currently operating or to be operated in the future, utilized for the diagnosis, care, treatment, training or hospitalization of persons who are mentally ill or who are believed to be mentally ill and any other appropriate facility within the State of Alabama approved for such purpose by the Department of Mental Health, excluding those general hospitals owned by a state educational institution which is a public corporation organized under the acts of the Legislature of the State of Alabama. See Alabama Code 22-52-30
- Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC
- Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Fraud: Intentional deception resulting in injury to another.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- GOVERNMENT SECURITIES: Any bonds or other obligations which as to principal and interest constitute direct obligations of, or are unconditionally guaranteed by, the United States of America, including obligations of any federal agency to the extent such obligations are unconditionally guaranteed by the United States of America and any certificates or any other evidences of an ownership interest in such obligations of, or unconditionally guaranteed by, the United States of America or in specified portions thereof, which may consist of the principal thereof or the interest thereon. See Alabama Code 2-5A-30
- Grantor: The person who establishes a trust and places property into it.
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Impeachment: (1) The process of calling something into question, as in "impeaching the testimony of a witness." (2) The constitutional process whereby the House of Representatives may "impeach" (accuse of misconduct) high officers of the federal government for trial in the Senate.
- Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
- INPATIENT TREATMENT: Treatment being provided to a person at a state mental health facility or a designated mental health facility which has been specifically designated by the department for inpatient treatment. See Alabama Code 22-52-1.1
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- INTERESTED PARTY: Includes the following parties:
a. See Alabama Code 11-40-62
- INVOLUNTARY COMMITMENT: Court ordered mental health services in either an outpatient or inpatient setting. See Alabama Code 22-52-1.1
- 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
- LEASE AGREEMENT: Any agreement of lease covering all or any part of the properties comprising the Alabama Agricultural Center, including the coliseum and any facilities necessary in connection therewith, which may be made between the board and the corporation pursuant to the provisions of this article. See Alabama Code 2-6-50
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Lien: A claim against real or personal property in satisfaction of a debt.
- MARKET FACILITY: Any facility for the inspection, grading, standardization, classification, refrigeration, dehydration, canning, packing, processing, cold storage and marketing of agricultural and kindred products permitted to be acquired and constructed by the Board of Agriculture and Industries pursuant to Section 2-3-20. See Alabama Code 2-6-70
- MENTAL ILLNESS: A psychiatric disorder of thought and/or mood which significantly impairs judgment, behavior, capacity to recognize reality, or ability to cope with the ordinary demands of life. See Alabama Code 22-52-1.1
- MINIMUM BID PRICE: The price that equals the Redemption Amount. See Alabama Code 11-40-62
- Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- MUNICIPAL CODE LIEN: Any lien that has been levied against real property by a Class 2 municipality that is the result of the non-payment of any fine, penalty, abatement cost, or enforcement cost incurred by a Class 2 municipality related to the enforcement of state or local housing and building codes. See Alabama Code 11-40-62
- MUNICIPAL CODE LIEN PAYOFF: The principal amount of a municipal code lien, interest accrued at the rate of seven and one-half percent per annum from the date the municipal code lien was filed in the office of the judge of the probate, any fees or costs incurred in the collection of such a lien under this article including, without limitations, the cost of title examinations and publication of notices, and any other penalties allowable under either state law or under an ordinance or resolution enacted by the Class 2 municipality. See Alabama Code 11-40-62
- oath: includes affirmation. See Alabama Code 1-1-1
- OUTPATIENT TREATMENT: Treatment being provided to a person in a nonresidential setting and who is not admitted for 24-hour-a-day care. See Alabama Code 22-52-1.1
- OWNER OCCUPIED: Real property that is lawfully occupied as a principal residence that is any of the following:
a. See Alabama Code 11-40-62
- 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.
- PERMITTED INVESTMENTS: (i) Government securities; (ii) bonds, debentures, notes or other evidences of indebtedness issued by any of the following agencies: bank for cooperatives; federal intermediate credit banks; Federal Financing Bank; federal home loan banks; Federal Farm Credit Bank; Export-Import Bank of the United States; federal land banks; or Farmers Home Administration or any other agency or corporation which has been or may hereafter be created by or pursuant to an act of the Congress of the United States as an agency or instrumentality thereof; (iii) bonds, notes, pass through securities or other evidences of indebtedness of Government National Mortgage Association and participation certificates of Federal Home Loan Mortgage Corporation; (iv) full faith and credit obligations of any state, provided that at the time of purchase such obligations are rated at least "AA" by Standard & Poor's Corporation and at least "Aa" by Moody's Investors Service; (v) public housing bonds issued by public agencies or municipalities and fully secured as to the payment of both principal and interest by contracts with the United States of America, or temporary notes, preliminary notes or project notes issued by public agencies or municipalities, in each case fully secured as to the payment of both principal and interest by a requisition or payment agreement with the United States of America; (vi) time deposits evidenced by certificates of deposit issued by banks or savings and loan associations which are members of the Federal Deposit Insurance Corporation, provided that, to the extent such time deposits are not covered by federal deposit insurance, such time deposits, including interest thereon, are fully secured by a pledge of obligations described in clauses (i), (ii), (iii), and (v) above, which at all times have a market value not less than the amount of such bank time deposits required to be so secured and which meet the greater of 100 percent collateralization or the "AA" collateral levels established by Standard & Poor's Corporation for structured financings; (vii) repurchase agreements for obligations of the type specified in clauses (i), (ii), (iii), and (v) above, provided such repurchase agreements are fully collateralized and secured by such obligations which have a market value at least equal to the purchase price of such repurchase agreements which are held by a depository satisfactory to the State Treasurer in such manner as may be required to provide a prefected security interest in such obligations, and which meet the greater of 100 percent collateralization or the "AA" collateral levels established by Standard & Poor's Corporation for structured financings; and (viii) uncollateralized investment agreements with, or certificates of deposit issued by, banks or bank holding companies, the senior long-term securities of which are rated at least "AA" by Standard & Poor's Corporation and at least "Aa" by Moody's Investors Service. See Alabama Code 2-5A-30
- person: An individual, a partnership, a corporation or two or more individuals having a joint or common interest. See Alabama Code 2-1-1
- personal property: includes money, goods, chattels, things in action and evidence of debt, deeds and conveyances. See Alabama Code 1-1-1
- Plaintiff: The person who files the complaint in a civil lawsuit.
- Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
- preceding: means next before. See Alabama Code 1-1-1
- Probable cause: A reasonable ground for belief that the offender violated a specific law.
- Probate: Proving a will
- Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
- Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
- Quorum: The number of legislators that must be present to do business.
- real property: includes lands, tenements and hereditaments. See Alabama Code 1-1-1
- Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
- REDEMPTION AMOUNT: The sum of a. See Alabama Code 11-40-62
- REFUNDING BONDS: Those refunding bonds issued under and pursuant to Section 2-5A-35. See Alabama Code 2-5A-30
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- respondent: A person for which a petition for commitment to mental health services has been filed. See Alabama Code 22-52-1.1
- Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
- securities: When used with reference to debt instruments to be issued by the corporation, shall mean and include notes, bonds and other forms of indebtedness. See Alabama Code 2-6-70
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- state: The State of Alabama. See Alabama Code 2-6-70
- STATE MENTAL HEALTH FACILITY: A mental health facility operated by the Alabama State Department of Mental Health. See Alabama Code 22-52-1.1
- Statute: A law passed by a legislature.
- Subpoena: A command to a witness to appear and give testimony.
- superintendent: The superintendent or director of Bryce Hospital located in Tuscaloosa County, the superintendent or director of Searcy Hospital located in Mobile County or the superintendent or director of any such facility as defined in subdivision (4) of this section. See Alabama Code 22-52-30
- TAX CERTIFICATE HOLDER: Any of the following:
a. See Alabama Code 11-40-62
- TAX PAYOFF: Any and all amounts necessary to satisfy any claims for delinquent taxes assessed against the real property on which the Class 2 municipality is seeking to foreclosure under this article. See Alabama Code 11-40-62
- taxes: Those taxes assessed against real property by either the State of Alabama, the county in which the real property is situated, or the Class 2 municipality that are delinquent, as defined in Section 40-11-4 or Section 11-51-2, as of the date a proceeding under this article is commenced or at any time before final resolution of the same, and shall also include any taxes assessed against real property that are unpaid from any previous year and any amounts required for redemption under Section 40-10-82, 40-10-120, or Section 11-51-23. See Alabama Code 11-40-62
- Testify: Answer questions in court.
- Testimony: Evidence presented orally by witnesses during trials or before grand juries.
- Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
- Trustee: A person or institution holding and administering property in trust.
- Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
- United States: includes the territories thereof and the District of Columbia. See Alabama Code 1-1-1
- Writ: A formal written command, issued from the court, requiring the performance of a specific act.