§ 16-17A-1 Short title
§ 16-17A-2 Definitions
§ 16-17A-3 Incorporation of authority
§ 16-17A-4 Articles of incorporation – Requirements
§ 16-17A-5 Articles of incorporation – Amendments
§ 16-17A-6 Board of directors
§ 16-17A-7 Officers
§ 16-17A-8 Powers of authority
§ 16-17A-9 Eminent domain
§ 16-17A-10 Indebtedness
§ 16-17A-11 Pledge of revenues; security documents
§ 16-17A-12 Obligations of authority
§ 16-17A-13 Investment in indebtedness
§ 16-17A-14 Default in payments
§ 16-17A-15 Exemptions from taxation
§ 16-17A-16 Audits
§ 16-17A-17 Conveyance of property, etc., to authority; pledge of full faith and credit
§ 16-17A-18 Legislative findings
§ 16-17A-19 Sovereign immunity; damage limitation
§ 16-17A-20 Applicability of other laws
§ 16-17A-21 Reincorporation
§ 16-17A-22 Disposition of excess revenues
§ 16-17A-23 Dissolution of authority
§ 16-17A-24 Construction of chapter

Terms Used In Alabama Code > Title 16 > Chapter 17A - University Authority Act of 2016

  • 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.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • associate: When used to indicate a relationship with:

    (A) a domestic or foreign entity for which the person is:

    (i) an officer or governing person; or

    (ii) a beneficial owner of 10 percent or more of a class of voting ownership interests or similar securities of the entity;

    (B) a trust or estate in which the person has a substantial beneficial interest or for which the person serves as trustee or in a similar fiduciary capacity;

    (C) the person's spouse or a relative of the person related by consanguinity or affinity within the fifth degree who resides with the person; or

    (D) a governing person or an affiliate or officer of the person. See Alabama Code 10A-1-1.03

  • association: Includes, but is not limited to, an unincorporated nonprofit association as defined in Chapter 17 and an unincorporated professional association as defined in Article 1 of Chapter 30. See Alabama Code 10A-1-1.03
  • AUTHORIZING RESOLUTION: A resolution adopted by the governing body of the county pursuant to Section 45-11-245. See Alabama Code 45-11-245.01
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • corporation: Includes a domestic or foreign business corporation, including a benefit corporation, as defined in Chapter 2A, a domestic or foreign nonprofit corporation as defined in Chapter 3, a domestic or foreign professional corporation as defined in Chapter 4, and those entities specified in Chapter 20 as corporate. See Alabama Code 10A-1-1.03
  • county: Chilton County in the state. See Alabama Code 45-11-245.01
  • county: Chilton County. See Alabama Code 45-11-246
  • court: The designated court, and if none, the circuit court specifically set forth in this title, and if none, any other court having jurisdiction in a case. See Alabama Code 10A-1-1.03
  • 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.
  • director: An individual who serves on the board of directors, by whatever name known, of a foreign or domestic corporation. See Alabama Code 10A-1-1.03
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Fiduciary: A trustee, executor, or administrator.
  • individual: A natural person and the estate of an incompetent or deceased natural person. See Alabama Code 10A-1-1.03
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • 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
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Jurisprudence: The study of law and the structure of the legal system.
  • law: Unless the context requires otherwise, both statutory and common law. See Alabama Code 10A-1-1.03
  • 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
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • license: A license, certificate of registration, or other legal authorization. See Alabama Code 10A-1-1.03
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • merger: The combination of one or more domestic entities with one or more domestic entities or foreign entities resulting in:

    (A) one or more surviving domestic entities or foreign entities;

    (B) the creation of one or more new domestic entities or foreign entities, or one or more surviving domestic entities or foreign entities; or

    (C) one or more surviving domestic entities or foreign entities and the creation of one or more new domestic entities or foreign entities. See Alabama Code 10A-1-1.03

  • month: means a calendar month. See Alabama Code 1-1-1
  • 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.
  • officer: An individual elected, appointed, or designated as an officer of an entity by the entity's governing authority or under the entity's governing documents. See Alabama Code 10A-1-1.03
  • organization: A corporation, limited partnership, general partnership, limited liability company, business trust, real estate investment trust, joint venture, joint stock company, cooperative, association, or other organization, including, regardless of its organizational form, a bank, insurance company, credit union, and savings and loan association, whether for profit, not for profit, nonprofit, domestic, or foreign. See Alabama Code 10A-1-1.03
  • 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.
  • person: An individual, including the estate of an incompetent or deceased individual, or an entity, whether created by the laws of this state or another state or foreign country, including, without limitation, a general partnership, limited liability partnership, limited partnership, limited liability limited partnership, limited liability company, corporation, professional corporation, nonprofit corporation, professional association, trustee, personal representative, fiduciary, as defined in Section 19-3-150 or person performing in any similar capacity, business trust, estate, trust, association, joint venture, government, governmental subdivision, agency, or instrumentality, or any other legal or commercial entity. See Alabama Code 10A-1-1.03
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • preceding: means next before. See Alabama Code 1-1-1
  • Probate: Proving a will
  • property: includes both real and personal property. See Alabama Code 1-1-1
  • property: Includes all property, whether real, personal, or mixed, or tangible or intangible, or any right or interest therein. See Alabama Code 10A-1-1.03
  • Quorum: The number of legislators that must be present to do business.
  • SALES AND USE TAX: A tax imposed by the state sales and use tax statutes and such other acts applicable to Chilton County, including, but not limited to, Article 1 and Article 2 of Chapter 23, Title 40. See Alabama Code 45-11-246
  • state: Includes, when referring to a part of the United States, a state or commonwealth, and its agencies and governmental subdivisions, and a territory or possession, and its agencies and governmental subdivisions, of the United States. See Alabama Code 10A-1-1.03
  • Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
  • Trustee: A person or institution holding and administering property in trust.
  • Usury: Charging an illegally high interest rate on a loan. Source: OCC