§ 38-9B-1 Legislative findings
§ 38-9B-2 Definitions
§ 38-9B-3 Contributors allowed to supplement care of impaired persons; assets of trustees
§ 38-9B-4 Creation of board; composition; compensation; accounting of funds; policies and procedures
§ 38-9B-5 AFT Corporation, Trust, and Charitable Trust
§ 38-9B-6 Rights and interests of life beneficiaries and contributors
§ 38-9B-7 Trustee liability

Terms Used In Alabama Code > Title 38 > Chapter 9B

  • BOARD OF TRUSTEES: The Alabama Family Trust Board of Trustees established pursuant to this chapter. See Alabama Code 38-9B-2
  • CO-TRUSTEE: Any person named by the settlor to work with the trustee in providing benefits to a life beneficiary, except neither a contributor nor a contributor's spouse shall be the co-trustee if the contributor or the contributor's spouse is the life beneficiary. See Alabama Code 38-9B-2
  • commissioner: The Commissioner of the Alabama Department of Mental Health. See Alabama Code 38-9B-2
  • contribution: The balance of all amounts placed in a particular account but not including any appreciation in value of investments or accretions thereto resulting from any source, such as dividends, interest, and capital gains. See Alabama Code 38-9B-2
  • contributor: Any person who makes a donation directly to the AFT Corporation or the AFT Charitable Trust. See Alabama Code 38-9B-2
  • Conviction: A judgement of guilt against a criminal defendant.
  • department: The Alabama Department of Mental Health. See Alabama Code 38-9B-2
  • Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
  • 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.
  • Fraud: Intentional deception resulting in injury to another.
  • impairment: A mental or physical disability that substantially limits one or more major life activities, whether the impairment is congenital or acquired by accident, injury, age, or disease, and where the impairment is verified by medical findings that meet the medical-vocational requirements for a finding of disability under Section 223(d) of the Social Security Act, 42 U. See Alabama Code 38-9B-2
  • 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
  • LIFE BENEFICIARY: A beneficiary designated by a settlor. See Alabama Code 38-9B-2
  • Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • NET INCOME: The earnings received on investments less expenses and fees for administration. See Alabama Code 38-9B-2
  • person: includes a corporation as well as a natural person. See Alabama Code 1-1-1
  • personal property: includes money, goods, chattels, things in action and evidence of debt, deeds and conveyances. See Alabama Code 1-1-1
  • Personal property: All property that is not real property.
  • Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
  • REQUESTING PARTY: The party requesting arbitration of a dispute regarding benefits to be provided by the AFT Trust. See Alabama Code 38-9B-2
  • RESPONDING PARTY: The party not requesting arbitration of a dispute regarding benefits to be provided by the AFT Trust. See Alabama Code 38-9B-2
  • settlor: A person who establishes an AFT Trust account for a life beneficiary. See Alabama Code 38-9B-2
  • Statute: A law passed by a legislature.
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
  • trustee: The Alabama Family Trust Corporation. See Alabama Code 38-9B-2
  • Writ: A formal written command, issued from the court, requiring the performance of a specific act.
  • writing: includes typewriting and printing on paper. See Alabama Code 1-1-1
  • year: means a calendar year; but, whenever the word "year" is used in reference to any appropriations for the payment of money out of the treasury, it shall mean fiscal year. See Alabama Code 1-1-1