Part 1 Short Title and General Matters 7-8-101 – 7-8-116
Part 2 Issue and Issuer 7-8-201 – 7-8-210
Part 3 Transfer of Certificated and Uncertificated Securities 7-8-301 – 7-8-307
Part 4 Registration 7-8-401 – 7-8-407
Part 5 Security Entitlements 7-8-501 – 7-8-511
Part 6 Effective Date 7-8-601 – 7-8-603

Terms Used In Alabama Code > Title 7 > Article 8

  • Amortization: Paying off a loan by regular installments.
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • authority: The Shoals Economic Development Authority. See Alabama Code 45-39-92
  • board: The board of directors of the authority comprised of the members of the Shoals Economic Development Authority. See Alabama Code 45-39-92
  • Case law: The law as laid down in cases that have been decided in the decisions of the courts.
  • claims: In respect of a protected person, includes liabilities of the protected person, whether arising in contract, tort, or otherwise, and liabilities of the estate which arise at or after the appointment of a conservator, including expenses of administration. See Alabama Code 26-2A-20
  • conservator: A person who is appointed by a court to manage the estate of a protected person and includes a limited conservator described in Section 26-2A-148(a). See Alabama Code 26-2A-20
  • cooperative: A cooperative marketing association for marketing of farm products. See Alabama Code 2-1-1
  • court: A probate court of this state. See Alabama Code 26-2A-20
  • COURT REPRESENTATIVE: A person appointed in a guardianship or protective proceeding who is trained in law, nursing, or social work, is an officer, employee, or special appointee of the court, and has no personal interest in the proceeding. See Alabama Code 26-2A-20
  • Decedent: A deceased person.
  • Devise: To gift property by will.
  • disability: Cause for a protective order as described in Section 26-2A-130. See Alabama Code 26-2A-20
  • 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
  • estate: Includes the property of the person whose affairs are subject to this chapter. See Alabama Code 26-2A-20
  • Executor: A male person named in a will to carry out the decedent
  • Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • guardian: A person who has qualified as a guardian of a minor or incapacitated person pursuant to parental or spousal nomination or court appointment and includes a limited guardian as described in Sections 26-2A-78(e) and 26-2A-105(c), but excludes one who is merely a guardian ad litem. See Alabama Code 26-2A-20
  • 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.
  • INCAPACITATED PERSON: Any person who is impaired by reason of mental illness, mental deficiency, physical illness or disability, physical or mental infirmities accompanying advanced age, chronic use of drugs, chronic intoxication, or other cause (except minority) to the extent of lacking sufficient understanding or capacity to make or communicate responsible decisions. See Alabama Code 26-2A-20
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Intestate: Dying without leaving a will.
  • Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
  • lease: Includes an oil, gas, or other mineral lease. See Alabama Code 26-2A-20
  • Legatee: A beneficiary of a decedent
  • Legislative session: That part of a chamber's daily session in which it considers legislative business (bills, resolutions, and actions related thereto).
  • letters: Includes letters of guardianships and letters of conservatorship. See Alabama Code 26-2A-20
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • member: An individual resident and registered voter of Lauderdale County or Colbert County, who has been appointed to the authority by their respective governing bodies to serve in a representative capacity. See Alabama Code 45-39-92
  • minor: A person who is under 19 years of age and has not otherwise had the disabilities of minority removed. See Alabama Code 26-2A-20
  • minor ward: is a minor for whom a guardian has been appointed solely because of minority. See Alabama Code 26-2A-20
  • mortgage: Any conveyance, agreement, or arrangement in which property is used as collateral. See Alabama Code 26-2A-20
  • organization: Includes a corporation, business trust, estate, trust, partnership, association, two or more persons having a joint or common interest, government, governmental subdivision or agency, or any other legal entity. See Alabama Code 26-2A-20
  • parent: Includes any person entitled to take, or who would be entitled to take if the child died without a will, as a parent by intestate succession from the child whose relationship is in question and excludes any person who is only a stepparent, foster parent, or grandparent. See Alabama Code 26-2A-20
  • person: An individual or an organization, unless the context otherwise requires. See Alabama Code 26-2A-20
  • petition: A written request to the court for an order after notice. See Alabama Code 26-2A-20
  • Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • President pro tempore: A constitutionally recognized officer of the Senate who presides over the chamber in the absence of the Vice President. The President Pro Tempore (or, "president for a time") is elected by the Senate and is, by custom, the Senator of the majority party with the longest record of continuous service.
  • 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.
  • proceeding: Includes action at law and suit in equity. See Alabama Code 26-2A-20
  • property: Includes both real and personal property or any interest therein and means anything that may be the subject of ownership. See Alabama Code 26-2A-20
  • PROTECTED PERSON: A minor or other person for whom a conservator has been appointed or other protective order has been made as provided in Sections 26-2A-136 and 26-2A-137. See Alabama Code 26-2A-20
  • PROTECTIVE PROCEEDING: A proceeding under the provisions of Article 2, Division 3. See Alabama Code 26-2A-20
  • Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
  • security: Includes any note, stock, treasury stock, bond, debenture, evidence of indebtedness, certificate of interest or participation in an oil, gas, or mining title or lease or in payments out of production under such a title or lease, collateral trust certificate, transferable share, voting trust certificate or, in general, any interest or instrument commonly known as a security, or any certificate of interest or participation, any temporary or interim certificate, receipt or certificate of deposit for, or any warrant or right to subscribe to or purchase any of the foregoing. See Alabama Code 26-2A-20
  • Service of process: The service of writs or summonses to the appropriate party.
  • shoals: The geographic region of the State of Alabama comprising the Counties of Colbert and Lauderdale. See Alabama Code 45-39-92
  • Subpoena: A command to a witness to appear and give testimony.
  • Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
  • Testator: A male person who leaves a will at death.
  • Testify: Answer questions in court.
  • 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.
  • Venue: The geographical location in which a case is tried.
  • Verdict: The decision of a petit jury or a judge.
  • ward: A person for whom a guardian has been appointed. See Alabama Code 26-2A-20