47 chapters · 1,084 sections in this title.
Ala. Code § 36-21-72 Death Benefits
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Each member shall be issued a certificate by the board in which the board shall agree to pay to a beneficiary to be designated by such member, upon his death while an active member, and to be conditioned upon the satisfaction of all obligations of the member to the fund, a lump s…
Ala. Code § 36-21-73 Appointment of Actuary; Action Upon Report; Liability for Deficiency in Payments
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The board shall have appointed and employed an actuary to make an actuarial valuation every three years or earlier, if deemed required, of the receipts and income accruing to the fund based on age, expected mortality, disability, and retirement status of the members and the quali…
Ala. Code § 36-21-74 Refunds of Members’ Fees
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Any member shall be entitled at any time to withdraw from the fund and, upon application for such withdrawal on forms to be supplied by the board and approved by it, shall be entitled to receive 90 percent of all amounts heretofore paid to the fund by such member. Any member who …
Ala. Code § 36-21-75 Semiannual Reports of Executive Director; Annual Audits of Acts and Affairs of Board
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(a) The executive director shall make semiannual reports to the board showing the total amount of money on hand at the time of such report, all investments then held by the board and itemizing by classifications all receipts and disbursements since the last such semiannual report…