Article 1 General Provisions 8-26B-1 – 8-26B-19
Article 2 Commission and Disposition of Funds 8-26B-30 – 8-26B-32
Article 3 Compensation of Student Athletes 8-26B-50 – 8-26B-61

Terms Used In Alabama Code > Title 8 > Chapter 26B - Revised Uniform Athlete Agents Act

  • Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
  • AFFILIATED TRUST INSTITUTION: A trust institution which, together with one or more other trust institutions, are each owned or controlled by a bank holding company which is under the supervision of the Board of Governors of the Federal Reserve System. See Alabama Code 5-12A-1
  • Alabama state bank: means a bank chartered under the laws of Alabama. See Alabama Code 5-13B-21
  • Allegation: something that someone says happened.
  • Amortization: Paying off a loan by regular installments.
  • 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
  • Bank holding company: has the meaning set forth in 12 U. See Alabama Code 5-13B-21
  • Bank supervisory agency: means :

    (1) The Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and any successor to these agencies; and

    (2) Any agency of another state with primary responsibility for chartering and supervising banks. See Alabama Code 5-13B-21

  • 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 OF DIRECTORS: The group of persons vested with the management of the affairs of the corporation irrespective of the name by which the group is designated. See Alabama Code 10A-3-1.02
  • COMMON TRUST FUND: A fund established, maintained and administered pursuant to the requirements of this chapter by a trust institution exclusively for the collective investment and reinvestment of moneys contributed thereto by such trust institution in its capacity as a fiduciary or cofiduciary or by an affiliated trust institution in its capacity as a fiduciary or cofiduciary. See Alabama Code 5-12A-1
  • Control: shall be construed consistently with the provisions of 12 U. See Alabama Code 5-13B-21
  • Devise: To gift property by will.
  • distribution: A transfer of property, including cash, from an entity to an owner or member of the entity in the owner's or member's capacity as an owner or member. See Alabama Code 10A-1-1.03
  • ESTATE OR ESTATES: Such term shall include any trust, estate or fund administered by a trust institution in a fiduciary capacity. See Alabama Code 5-12A-1
  • Ex officio: Literally, by virtue of one's office.
  • 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
  • fiduciary: Any trust institution or person acting in the capacity of executor, administrator, administrator with the will annexed, administrator de bonis non, guardian, testamentary trustee, trustee appointed by any court and trustee, agent or custodian under any written agreement, declaration or instrument of trust, either solely or together with others. See Alabama Code 5-12A-1
  • 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
  • Grantor: The person who establishes a trust and places property into it.
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • Home state: means :

    (1) With respect to a national bank, the state in which the main office of the bank is located;

    (2) With respect to a state bank, the state by which the bank is chartered;

    (3) With respect to a foreign bank, the state determined to be the home state of such foreign bank under 12 U. See Alabama Code 5-13B-21

  • Home state regulator: means , with respect to an out-of-state state bank, the bank supervisory agency of the state in which such bank is chartered. See Alabama Code 5-13B-21
  • Host state: means a state, other than the home state of a bank, in which the bank maintains, or seeks to establish and maintain, a branch. See Alabama Code 5-13B-21
  • Interstate merger transaction: means :

    (1) The merger or consolidation of banks with different home states, and the conversion of branches of any bank involved in the merger or consolidation into branches of the resulting bank; or

    (2) The purchase of all or substantially all of the assets, including all or substantially all of the branches, of a bank whose home state is different from the home state of the acquiring bank. See Alabama Code 5-13B-21

  • Legal tender: coins, dollar bills, or other currency issued by a government as official money. Source: U.S. Mint
  • member: One having membership rights in a corporation in accordance with the provisions of its governing documents. See Alabama Code 10A-3-1.02
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) Source: OCC
  • NONPROFIT CORPORATION: A nonprofit corporation no part of the income or profit of which is distributable to its members, directors, or officers. See Alabama Code 10A-3-1.02
  • oath: includes affirmation. See Alabama Code 1-1-1
  • Oath: A promise to tell the truth.
  • Out-of-state bank: means a bank whose home state is a state other than Alabama. See Alabama Code 5-13B-21
  • Out-of-state state bank: means a bank chartered under the laws of any state other than Alabama. See Alabama Code 5-13B-21
  • Oversight: Committee review of the activities of a Federal agency or program.
  • OWNED OR CONTROLLED: The ownership by a bank holding company of stock possessions of at least 80 percent of the voting power of all classes of stock and at least 80 percent of each class of the nonvoting stock (other than nonvoting stock which is limited and preferred as to dividends) of the trust institution. See Alabama Code 5-12A-1
  • participant: Any trust, estate or fund administered by a trust institution in a fiduciary capacity having a "participation. See Alabama Code 5-12A-1
  • participation: The interest of a participating trust in the common trust fund. See Alabama Code 5-12A-1
  • PARTY STATE: Any member state in which a licensee holds a current license or compact privilege or is applying for a license or compact privilege. See Alabama Code 34-24-220.01
  • 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.
  • 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.
  • Probation officers: Screen applicants for pretrial release and monitor convicted offenders released under court supervision.
  • Quorum: The number of legislators that must be present to do business.
  • Resulting bank: means a bank that has resulted from an interstate merger transaction under this article. See Alabama Code 5-13B-21
  • salary: as used in this division , is not intended to include or cover costs and charges of court or fees, commissions, percentages, or allowances of public officers, and such are not subject to writs of garnishment under the provisions of this division. See Alabama Code 6-6-480
  • SECURITY OR SECURITIES: Such term shall include all types of property in which the trust institution is authorized to invest the assets of the common trust fund. See Alabama Code 5-12A-1
  • Service of process: The service of writs or summonses to the appropriate party.
  • state: Any state, commonwealth, district, or territory of the United States that regulates the practice of physical therapy. See Alabama Code 34-24-220.01
  • State: means any state, territory, or other possession of the United States, including the District of Columbia. See Alabama Code 5-13B-21
  • Superintendent: means the Superintendent of Banks then in office and, where appropriate, all of his or her successors and predecessors in office. See Alabama Code 5-13B-21
  • TRUST INSTITUTION: Any state bank, any national bank or any trust company authorized to act in a fiduciary capacity in this state and under the supervision of the Comptroller of the Currency of the United States or the Federal Reserve System, or the Superintendent of Banks of the State of Alabama. See Alabama Code 5-12A-1
  • 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
  • User fees: Fees charged to users of goods or services provided by the government. In levying or authorizing these fees, the legislature determines whether the revenue should go into the treasury or should be available to the agency providing the goods or services.
  • verified: Supported by an affidavit or oath confirming the correctness, truth, or authenticity of the matter set forth therein. See Alabama Code 10A-3-1.02