Title 19 — Title 19

0 chapters · 382 sections in this title.

382 sectionsFiltered byTitle 19

Ala. Code § 19-3-121 Interest-Bearing Warrants
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A trustee, executor, administrator, guardian or one acting in any other fiduciary capacity may, with the exercise of reasonable business prudence, in addition to any other investments now permitted by law, invest funds in interest-bearing warrants of any county board of education…
Ala. Code § 19-3-122 Securities Issued or Insured by Secretary of Housing and Urban
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Development. It shall be lawful for trustees, executors, administrators, guardians and other fiduciaries, the State of Alabama and any of its departments, boards, institutions and agencies, and the municipalities, counties and other political subdivisions of the state to invest t…
Ala. Code § 19-3-123 Mortgages Insured by Secretary of Housing and Urban Development -
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Investment. It shall be lawful for trustees, executors, administrators, guardians and other fiduciaries to invest their funds and the moneys in their custody or possession eligible for investment in mortgages which have been accepted for insurance by the secretary of housing and …
Ala. Code § 19-3-124 Mortgages Insured by Secretary of Housing and Urban Development -
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Sale, Etc. It shall be lawful for trustees, executors, administrators, guardians and other fiduciaries, upon the termination of their fiduciary relationships, whether by revocation or otherwise, to make distribution of assets consisting of mortgages insured by the Secretary of Ho…
Ala. Code § 19-3-125 Life, Endowment, or Annuity Contracts
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In addition to any other investment now permitted by law, a guardian or trustee may invest the funds of his ward or of the beneficiary of the trust in life, endowment or annuity contracts of legal reserve life insurance companies duly qualified and authorized to write such busine…
Ala. Code § 19-3-126 Tax Anticipation Bonds, Etc., of Certain Counties
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Unless otherwise directed by the court having jurisdiction thereof, or by the will, trust agreement or other document which is the source of authority, any trustee, executor, administrator, guardian or one acting in any other fiduciary capacity, may, with the exercise of reasonab…
Ala. Code § 19-3-127 Bonds of Tennessee Valley Authority
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Bonds issued by the Tennessee Valley Authority under the provisions of the Tennessee Valley Authority Act of 1933, as amended or as the same may be hereafter amended, shall be legal investments for fiduciaries investing trust funds and for investments by savings banks and insuran…
Ala. Code § 19-3-128 Debts Incurred Under National Housing Act and Under Acts of
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Congress Relating to Veterans’ Benefits. All debts or extensions of credit incurred pursuant to any provision of the act of Congress known as the National Housing Act, as the same now exists or may hereafter be amended or supplemented, and all debts or extensions of credit incurr…
Ala. Code § 19-3-129 General Rules of Law Govern Trustee’s Liability
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Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007. History: (Code 1876, §3742; Code 1886, §3555; Code 1896, §4174; Code 1907, §6076; Code 1923, §10413; Code 1940, T. 58, §52.)
Ala. Code § 19-3-130 Investment Outside State
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Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007. History: (Code 1876, §3743; Code 1886, §3556; Code 1896, §4175; Code 1907, §6077; Code 1923, §10414; Code 1940, T. 58, §53.)
Ala. Code § 19-3-131 Petition to Obtain Authority; Notice
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Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007. History: (Code 1876, §3743; Code 1886, §3557; Code 1896, §4176; Code 1907, §6078; Code 1923, §10415; Code 1940, T. 58, §54.)
Ala. Code § 19-3-132 Judgment on Hearing
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Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007. History: (Code 1876, §3743; Code 1886, §3559; Code 1896, §4178; Code 1907, §6080; Code 1923, §10417; Code 1940, T. 58, §55.)
Ala. Code § 19-3-150 “Fiduciary” Defined
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As used in this article, the term “fiduciary” means the executor of a will, the administrator of a decedent’s estate or the trustee of an express inter vivos or testamentary trust, and includes both individual and corporate fiduciaries. History: (Acts 1961, No. 1011, p. 1588, §I.…
Ala. Code § 19-3-151 Right of Fiduciary to Participate in Partnership; Liability of Fiduciary,
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Estate and Beneficial Owners. If permitted by the trust instrument or will under which he serves or by order of a court having jurisdiction of the estate or trust, a fiduciary may enter into a partnership agreement or arrangement with others or accept the assignment of or otherwi…
Ala. Code § 19-3-152 Power of Fiduciary to Limit Liability of Estate or Himself
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Nothing in this article shall be construed to prohibit a fiduciary from further limiting his liability, or the liability of the trust or estate which he represents, in any manner otherwise permitted by law. History: (Acts 1961, No. 1011, p. 1588, §III.)
Ala. Code § 19-3-170 Partition of Freehold Devised with Contingent Interest
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When any deceased tenant in common, joint tenant or coparcener of real estate shall have devised any freehold interest in such estate to any person, with a contingent interest by way of remainder, substitution or executory devise to any other person, born or unborn, the circuit c…
Ala. Code § 19-3-171 Sale of Land Held Under Trust Deed
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Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007. History: (Code 1923, §10438; Code 1940, T. 58, §57.)
Ala. Code § 19-3-172 Sale of Land Devised and Held in Trust
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Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007. History: (Code 1923, §10439; Code 1940, T. 58, §58.)
Ala. Code § 19-3-173 Investment of Proceeds of Sale
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Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007. History: (Code 1923, §10440; Code 1940, T. 58, §59.)
Ala. Code § 19-3-190 Power of Circuit Court to Authorize Removal of Trust Estate
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Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007. History: (Code 1876, §3744; Code 1886, §3560; Code 1896, §4179; Code 1907, §6081; Code 1923, §10418; Code 1940, T. 58, §60.)
Ala. Code § 19-3-191 Petition to Obtain Removal; Notice
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Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007. History: (Code 1876, §3745; Code 1886, §3561; Code 1896, §4180; Code 1907, §6082; Code 1923, §10419; Code 1940, T. 58, §61.)
Ala. Code § 19-3-192 Judgment on Hearing
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Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007. History: (Code 1876, §3746; Code 1886, §3563; Code 1896, §4182; Code 1907, §6084; Code 1923, §10421; Code 1940, T. 58, §62.)
Ala. Code § 19-3-2 Extinguishment of Trust
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Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007. History: (Code 1923, §10431; Code 1940, T. 58, §2.)
Ala. Code § 19-3-20 Right of Creditors to Apply for Order Requiring Trustee to Give Bond
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When an express trust is created for the payment or security of debts and, by the terms thereof, the trustee is not required to give bond with surety, any creditor interested therein may apply to the register or clerk of the circuit court of the county in which the trust property…
Ala. Code § 19-3-21 Contents of Application; Notice of Hearing
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The application must be in writing, verified by affidavit, must state the nature and character of the trust and of the interest of the applicant therein and must state, in the opinion of the applicant, said interest is, or will be endangered, if bond with sureties is not required…
Ala. Code § 19-3-210 Resignation
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Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007. History: (Code 1923, §10432; Code 1940, T. 55, §63.)
Ala. Code § 19-3-211 Removal - Grounds
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Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007. History: (Code 1852, §2999; Code 1867, §3455; Code 1876, §3735; Code 1886, §3577; Code 1896, §4197; Code 1907, §6102; Code 1923, §10450; Acts 1939, No. 344, p. 478; Code 1940, T. 58, §65; Acts 1953, No. 875, p. 1180…
Ala. Code § 19-3-212 Removal - Appointment of Successor
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Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007. History: (Code 1852, §3000; Code 1867, §3456; Code 1876, §3736; Code 1886, §3578; Code 1896, §4198; Code 1907, §6103; Code 1923, §10451; Acts 1939, No. 345, p. 479; Code 1940, T. 58, §66.)
Ala. Code § 19-3-22 Hearing; Order
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On the day appointed, or on any other day to which such application may be continued, if it appears that the applicant has a real, bona fide interest in the administration of the trust, and that by the terms thereof, the trustee is not required to give bond with surety, and that …
Ala. Code § 19-3-23 Failure of Trustee to Give Bond; Appointment of Successor
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If the trustee fails for five days from and after the making of such order, to give such bond, the register or clerk must make and enter an order removing him as a trustee, and may make and enter an order appointing a successor, of whom bond, with sureties, payable and conditione…
Ala. Code § 19-3-230 Application to Appoint Trustee
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Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007. History: (Code 1867, §3457; Code 1876, §3737; Code 1886, §3580; Code 1896, §4200; Code 1907, §6105; Code 1923, §10453; Code 1940, T. 58, §67.)
Ala. Code § 19-3-231 Notice of Hearing
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Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007. History: (Code 1867, §3458; Code 1876, §3738; Code 1886, §3581; Code 1896, §4201; Code 1907, §6106; Code 1923, §10454; Code 1940, T. 58, §68.)
Ala. Code § 19-3-232 Appointment of Trustee
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Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007. History: (Code 1867, §3459; Code 1876, §3739; Code 1886, §3582; Code 1896, §4202; Code 1907, §6107; Code 1923, §10455; Code 1940, T. 58, §69.)
Ala. Code § 19-3-233 Bond
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Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007. History: (Code 1867, §3460; Code 1876, §3740; Code 1886, §3583; Code 1896, §4203; Code 1907, §6108; Code 1923, §10456; Code 1940, T. 58, §70.)
Ala. Code § 19-3-234 Fees of Register or Clerk
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Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007. History: (Code 1867, §3461; Code 1876, §3741; Code 1886, §3584; Code 1896, §4204; Code 1907, §6109; Code 1923, §10457; Code 1940, T. 58, §71.)
Ala. Code § 19-3-24 Duty of Trustee to Make Inventory; Filing of Copies; Supplemental
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Inventories. It is the duty of the trustee of an express trust created for the payment of debts, within 20 days after entering upon the execution of such trust, to make an inventory of the entire trust property so far as the same has come to his possession or knowledge, describin…
Ala. Code § 19-3-25 Appointment and Duties of Appraisers
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On the filing of such inventory, the register or clerk must indorse upon each of such copies the fact and date of such filing and must appoint three competent and disinterested persons, who must not be of kin or of counsel to any person interested in the trust estate, appraisers …
Ala. Code § 19-3-250 Power of Circuit Court to Fill Vacancy
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Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007. History: (Code 1923, §10434; Code 1940, T. 58, §72.)
Ala. Code § 19-3-251 When Circuit Court Must Appoint New Trustee; Number of New
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Trustees. Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007. History: (Code 1923, §10436; Code 1940, T. 58, §74.)
Ala. Code § 19-3-252 Survivorship Between Cotrustees
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Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007. History: (Code 1923, §10435; Code 1940, T. 58, §73.)
Ala. Code § 19-3-253 Representative of Deceased Sole Trustee to Settle with Succeeding
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Trustee. Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007. History: (Code 1896, §4196; Code 1907, §6101; Code 1923, §10449; Code 1940, T. 58, §64.)
Ala. Code § 19-3-26 When Petition for Administration May Be Filed; Contents of Petition
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If the value of the trust estate, as appraised by the appraisers, exceeds $1,000.00, the trustee, or assignor, or any creditor, or any number of them, may file a petition in the circuit court of the county in which the inventory and appraisement are required to be filed, for the …
Ala. Code § 19-3-27 Submission of Petition to Circuit Judge; Order Designating Time for
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Presenting Claims. Upon the filing of such petition the register or clerk must submit the same, together with the inventory and appraisement, upon the original papers, to the circuit judge and the circuit judge must make an order designating a day, not less than two nor more than…
Ala. Code § 19-3-270 Definitions
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Repealed by Act 2000-675, § 2, and Act 2001-344, § 1, effective January 1, 2001. History: (Acts 1939, No. 572, p. 902; Code 1940, T. 58, &amp;sect;75.)
Ala. Code § 19-3-271 Applicability of Article; Powers of Settlor
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Repealed by Act 2000-675, § 2, and Act 2001-344, § 1, effective January 1, 2001. History: (Acts 1939, No. 572, p. 902; Code 1940, T. 58, &amp;sect;76.)
Ala. Code § 19-3-272 Income and Principal; Disposition
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Repealed by Act 2000-675, § 2, and Act 2001-344, § 1, effective January 1, 2001. History: (Acts 1939, No. 572, p. 902; Code 1940, T. 58, &amp;sect;77.)
Ala. Code § 19-3-273 Apportionment of Income
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Repealed by Act 2000-675, § 2, and Act 2001-344, § 1, effective January 1, 2001. History: (Acts 1939, No. 572, p. 902; Code 1940, T. 58, &amp;sect;78.)
Ala. Code § 19-3-274 Corporate Dividends and Share Rights
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Repealed by Act 2000-675, § 2, and Act 2001-344, § 1, effective January 1, 2001. History: (Acts 1939, No. 572, p. 902; Code 1940, T. 58, § 79.)
Ala. Code § 19-3-275 Premium and Discount Obligations
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Repealed by Act 2000-675, § 2, and Act 2001-344, § 1, effective January 1, 2001. History: (Acts 1939, No. 572, p. 902; Code 1940, T. 58, &amp;sect;80.)
Ala. Code § 19-3-276 Principal Used in Business
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Repealed by Act 2000-675, § 2, and Act 2001-344, § 1, effective January 1, 2001. History: (Acts 1939, No. 572, p. 902; Code 1940, T. 58, &amp;sect;81.)