reglab/housing_qa huggingface dataset:
AL Code § 8-6-122 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 5 - Pre-Issuance Procedure for Industrial Revenue Bonds.|Section 8-6-122 - Article Remedial; Certain Statutes Not Repealed.

Section 8-6-122Article remedial; certain statutes not repealed. This article is remedial in nature and shall not be construed so as to repeal any provision of Section 8-6-1 et seq. or Section 8-6-50 et seq. (Acts 1978, No. 586, p. 681, §13.)
AL Code § 8-6-141 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 6 - Uniform Transfer on Death Security Registration Act.|Section 8-6-141 - Registration - Beneficiary Form.

Section 8-6-141Registration - Beneficiary form. Only individuals whose registration of a security shows sole ownership by one individual or multiple ownership by two or more with right of survivorship, rather than as tenants in common, may obtain registration in beneficiary form. Multiple owners of a security registered in beneficiary form hold as joint tenants with right of survivorship, as tenants by the entireties, or as owners of community property held in survivorship form, and not as tenants in common. (Acts 1997, No. 97-703, p. 1451, §2.)
AL Code § 8-6-142 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 6 - Uniform Transfer on Death Security Registration Act.|Section 8-6-142 - Registration - Authorization.

Section 8-6-142Registration - Authorization. A security may be registered in beneficiary form if the form is authorized by this or a similar statute of the state of organization of the issuer or registering entity, the location of the registering entity's principal office, the office of its transfer agent or its office making the registration, or by this or a similar statute of the law of the state listed as the owner's address at the time of registration. A registration governed by the law of a jurisdiction in which this or similar legislation is not in force or was not in force when a registration in beneficiary form was made is nevertheless presumed to be valid and authorized as a matter of contract law. (Acts 1997, No. 97-703, p. 1451, §3.)
AL Code § 8-6-143 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 6 - Uniform Transfer on Death Security Registration Act.|Section 8-6-143 - Registration - Designation of a Beneficiary.

Section 8-6-143Registration - Designation of a beneficiary. A security, whether evidenced by certificate or account, is registered in beneficiary form when the registration includes a designation of a beneficiary to take the ownership at the death of the owner or the deaths of all multiple owners. (Acts 1997, No. 97-703, p. 1451, §4.)
AL Code § 8-6-144 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 6 - Uniform Transfer on Death Security Registration Act.|Section 8-6-144 - Registration - Applicable Language.

Section 8-6-144Registration - Applicable language. Registration in beneficiary form may be shown by the words "transfer on death" or the abbreviation "TOD," or by the words "pay on death" or the abbreviation "POD," after the name of the registered owner and before the name of a beneficiary. (Acts 1997, No. 97-703, p. 1451, §5.)
AL Code § 8-6-145 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 6 - Uniform Transfer on Death Security Registration Act.|Section 8-6-145 - Designation of Tod; Registration Cancelled or Changed.

Section 8-6-145Designation of TOD; registration cancelled or changed. The designation of a TOD beneficiary on a registration in beneficiary form has no effect on ownership until the owner's death. A registration of a security in beneficiary form may be cancelled or changed at any time by the sole owner or all then surviving owners, without the consent of the beneficiary. (Acts 1997, No. 97-703, p. 1451, §6.)
AL Code § 8-6-146 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 6 - Uniform Transfer on Death Security Registration Act.|Section 8-6-146 - Death of Owner.

Section 8-6-146Death of owner. On death of a sole owner or the last to die of all multiple owners, ownership of securities registered in beneficiary form passes to the beneficiary or beneficiaries who survive all owners. On proof of death of all owners and compliance with any applicable requirements of the registering entity, a security registered in beneficiary form may be reregistered in the name of the beneficiary or beneficiaries who survived the death of all owners. Until division of the security after the death of all owners, multiple beneficiaries surviving the death of all owners hold their interests as tenants in common. If no beneficiary survives the death of all owners, the security belongs to the estate of the deceased sole owner or the estate of the last to die of all multiple owners. (Acts 1997, No. 97-703, p. 1451, §7; Act 98-279, p. 1451, §1.)
AL Code § 8-6-147 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 6 - Uniform Transfer on Death Security Registration Act.|Section 8-6-147 - Assent of Owner; Discharge From Claims.

Section 8-6-147Assent of owner; discharge from claims. (a) A registering entity is not required to offer or to accept a request for security registration in beneficiary form. If a registration in beneficiary form is offered by a registering entity, the owner requesting registration in beneficiary form assents to the protections given to the registering entity by this article. (b) By accepting a request for registration of a security in beneficiary form, the registering entity agrees that the registration will be implemented on death of the deceased owner as provided in this article. (c) A registering entity is discharged from all claims to a security by the estate, creditors, heirs, or devisees of a deceased owner if it registers a transfer of a security in accordance with Section 8-6-146 and does so in good faith reliance (1) on the registration, (2) on this article, and (3) on information provided to it by affidavit of the personal representative of the deceased owner, or by the surviving beneficiary or by the surviving beneficiary's representatives, or other information available to the registering entity. The protections of this article do not extend to a reregistration or payment made after a registering entity has received written notice from any claimant to any interest in the security objecting to implementation of a registration in beneficiary form. No other notice or other information available to the registering entity affects its right to protection under this article. (d) The protection provided by this article to the registering entity of a security does not affect the rights of beneficiaries in disputes between themselves and other claimants to ownership of the security transferred or its value or proceeds. (Acts 1997, No. 97-703, p. 1451, §8.)
AL Code § 8-6-148 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 6 - Uniform Transfer on Death Security Registration Act.|Section 8-6-148 - Transfer on Death.

Section 8-6-148Transfer on death. (a) A transfer on death resulting from a registration in beneficiary form is effective by reason of the contract regarding the registration between the owner and the registering entity and this article and is not testamentary. (b) This article does not limit the rights of creditors of security owners against beneficiaries and other transferees under other laws of this state. (Acts 1997, No. 97-703, p. 1451, §9.)
AL Code § 8-6-149 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 6 - Uniform Transfer on Death Security Registration Act.|Section 8-6-149 - Terms and Conditions of Registration.

Section 8-6-149Terms and conditions of registration. (a) A registering entity offering to accept registrations in beneficiary form may establish the terms and conditions under which it will receive requests (1) for registrations in beneficiary form, and (2) for implementation of registrations in beneficiary form, including requests for cancellation or previously registered TOD beneficiary designations and requests for reregistrations to effect a change of beneficiary. The terms and conditions so established may provide for proving death, avoiding or resolving any problems concerning fractional shares, designating primary and contingent beneficiaries, and substituting a named beneficiary's descendants to take in the place of the named beneficiary in the event of the beneficiary's death. Substitution may be indicated by appending to the name of the primary beneficiary the letters LDPS, standing for "lineal descendants per stirpes." This designation substitutes a deceased beneficiary's descendants who survive the owner for a beneficiary who fails to so survive, the descendants to be identified and to share in accordance with the law of the beneficiary's domicile at the owner's death governing inheritance by descendants of an intestate. Other forms of identifying beneficiaries who are to take on one or more contingencies, and rules for providing proofs and assurances needed to satisfy reasonable concerns by registering entities regarding conditions and identities relevant to accurate implementation of registrations in beneficiary form, may be contained in a registering entity's terms and conditions. (b) The following are illustrations of registrations in beneficiary form which a registering entity may authorize: (1) Sole owner sole beneficiary: John S Brown TOD (or POD) John S Brown Jr. (2) Multiple owners-sole beneficiary: John S Brown Mary B Brown JT TEN TOD John S Brown Jr. (3) Multiple owners-primary and secondary (substituted) beneficiaries: John S Brown Mary B Brown JT TEN TOD John S Brown Jr SUB BENE Peter Q Brown or John S Brown Mary B Brown JT TEN TOD John S Brown Jr LDPS. (Acts 1997, No. 97-703, p. 1451, §10.)
AL Code § 8-6-150 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 6 - Uniform Transfer on Death Security Registration Act.|Section 8-6-150 - Short Title; Construction.

Section 8-6-150Short title; construction. (a) This article shall be known as and may be cited as the Uniform TOD Security Registration Act. (b) This article shall be liberally construed and applied to promote its underlying purposes and policy and to make uniform the laws with respect to the subject of this article among states enacting it. (c) Unless displaced by the particular provisions of this article, the principles of law and equity supplement its provisions. (Acts 1997, No. 97-703, p. 1451, §11.)
AL Code § 8-6-151 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 6 - Uniform Transfer on Death Security Registration Act.|Section 8-6-151 - Application.

Section 8-6-151Application. This article applies to registrations of securities in beneficiary form made before or after August 1, 1997, by decedents dying on or after August 1, 1997. (Acts 1997, No. 97-703, p. 1451, §12.)
AL Code § 8-6-170 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 7 - Protection of Vulnerable Adults From Financial Exploitation Act.|Section 8-6-170 - Short Title.

Section 8-6-170Short title.  This article shall be known and may be cited as the Protection of Vulnerable Adults from Financial Exploitation Act. (Act 2016-141, §1.)
AL Code § 8-6-171 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 7 - Protection of Vulnerable Adults From Financial Exploitation Act.|Section 8-6-171 - Definitions.

Section 8-6-171Definitions.  In this article, unless the context otherwise requires, the following words and terms shall have the following meanings: (1) AGENT. The same meaning as in subdivision (2) of Section 8-6-2. (2) BROKER-DEALER. The same meaning as in subdivision (3) of Section 8-6-2. (3) COMMISSION. The Alabama Securities Commission. (4) DEPARTMENT. The Department of Human Resources. (5) FINANCIAL EXPLOITATION. Any of the following: a. The wrongful or unauthorized taking, withholding, appropriation, or use of money, assets, or property of a vulnerable adult. b. Any act or omission taken by a person, including through the use of a power of attorney, guardianship, or conservatorship of a vulnerable adult, to either of the following: 1. Obtain control through deception, intimidation, or undue influence over the vulnerable adult's money, assets, or property to deprive the vulnerable adult of the ownership, use, benefit, or possession of his or her money, assets, or property. 2. Convert money, assets, or property of the vulnerable adult to deprive the vulnerable adult of the ownership, use, benefit, or possession of his or her money, assets, or property. (6) INVESTMENT ADVISER. The same meaning as in subdivision (18) of Section 8-6-2. (7) INVESTMENT ADVISER REPRESENTATIVE. The same meaning as in subdivision (19) of Section 8-6-2. (8) QUALIFIED INDIVIDUAL. Any agent, investment adviser representative, or person who serves in a supervisory, compliance, legal, or associated member capacity of a broker-dealer or investment adviser. (9) REASONABLY ASSOCIATED INDIVIDUAL or ASSOCIATED MEMBER. An individual known to the investment adviser representative, broker-dealer, or firm who is reasonably associated with the account. (10) VULNERABLE ADULT. Any of the following: a. A person 65 years of age or older. b. A protected person included and defined in Chapter 9 of Title 38. (Act 2016-141, §2.)
AL Code § 8-6-172 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 7 - Protection of Vulnerable Adults From Financial Exploitation Act.|Section 8-6-172 - Notification of Department and Commission - Disclosure of Information.

Section 8-6-172Notification of department and commission - Disclosure of information.  If a qualified individual reasonably believes that financial exploitation of a vulnerable adult may have occurred, may have been attempted, or is being attempted, the qualified individual shall promptly notify the department and the commission. (Act 2016-141, §3.)
AL Code § 8-6-173 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 7 - Protection of Vulnerable Adults From Financial Exploitation Act.|Section 8-6-173 - Notification of Department and Commission - Liability.

Section 8-6-173Notification of department and commission - Liability.  A qualified individual that in good faith and exercising reasonable care makes a disclosure of information pursuant to Section 8-6-172 shall be immune from administrative or civil liability that might otherwise arise from such disclosure or for any failure to notify. (Act 2016-141, §4.)
AL Code § 8-6-174 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 7 - Protection of Vulnerable Adults From Financial Exploitation Act.|Section 8-6-174 - Notification of Certain Third Parties - Disclosure of Information.

Section 8-6-174Notification of certain third parties - Disclosure of information. If a qualified individual reasonably believes that financial exploitation of a vulnerable adult may have occurred, may have been attempted, or is being attempted, the qualified individual may notify a reasonably associated individual, legal guardian, any third party previously designated by the vulnerable adult, conservator, co-trustee, successor trustee, or agent under a power of attorney of the vulnerable adult of such belief. Disclosure may not be made to a designated third party that is suspected of financial exploitation or other abuse of the vulnerable adult. (Act 2016-141, §5.)
AL Code § 8-6-175 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 7 - Protection of Vulnerable Adults From Financial Exploitation Act.|Section 8-6-175 - Notification of Certain Third Parties - Liability.

Section 8-6-175Notification of certain third parties - Liability.  A qualified individual that, in good faith and exercising reasonable care, complies with Section 8-6-174 shall be immune from any administrative or civil liability that might otherwise arise from such disclosure. (Act 2016-141, §6.)
AL Code § 8-6-176 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 7 - Protection of Vulnerable Adults From Financial Exploitation Act.|Section 8-6-176 - Delay of Disbursement - Authorized.

Section 8-6-176Delay of disbursement - Authorized.  (a) A broker-dealer or investment adviser may delay a disbursement from an account of a vulnerable adult or an account on which a vulnerable adult is a beneficiary if: (1) The broker-dealer, investment adviser, or qualified individual reasonably believes, after initiating an internal review of the requested disbursement and the suspected financial exploitation, that the requested disbursement may result in financial exploitation of a vulnerable adult; and  (2) The broker-dealer or investment adviser: a. Immediately, but in no event more than two business days after the requested disbursement, provides written notification of the delay and the reason for the delay to all parties authorized to transact business on the account, unless any such party is reasonably believed to have engaged in suspected or attempted financial exploitation of the vulnerable adult; b. Immediately, but in no event more than two business days after the requested disbursement, notifies the department and commission; and c. Continues its internal review of the suspected or attempted financial exploitation of the vulnerable adult, as necessary, and reports any additional results of the investigation to the department and commission within seven business days after the requested disbursement. (b) Any delay of a disbursement as authorized by this section expires upon the sooner of: (1) A determination by the broker-dealer or investment adviser that the disbursement will not result in financial exploitation of the vulnerable adult. (2) Fifteen business days after the date on which the broker-dealer or investment adviser first delayed disbursement of the funds, unless either the department or the commission requests that the broker-dealer or investment adviser extend the delay, in which case the delay shall expire no more than 25 business days after the date on which the broker-dealer or investment adviser first delayed disbursement of the funds unless sooner terminated by either the department or commission or an order of a court of competent jurisdiction. (c) A court of competent jurisdiction may enter an order extending the delay of the disbursement of funds or may order other protective relief based on the petition of the commission, department, broker-dealer, or investment adviser that initiated the delay under this section, or other interested party. (Act 2016-141, §7.)
AL Code § 8-6-177 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 7 - Protection of Vulnerable Adults From Financial Exploitation Act.|Section 8-6-177 - Delay of Disbursement - Liability.

Section 8-6-177Delay of disbursement - Liability.  A broker-dealer or investment adviser that, in good faith and exercising reasonable care, complies with Section 8-6-176 shall be immune from any administrative or civil liability that might otherwise arise from such delay in a disbursement in accordance with this section. (Act 2016-141, §8.)
AL Code § 8-6-178 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 7 - Protection of Vulnerable Adults From Financial Exploitation Act.|Section 8-6-178 - Access to and Availability of Records.

Section 8-6-178Access to and availability of records.  A broker-dealer or investment adviser shall provide access to or copies of records that are relevant to the suspected or attempted financial exploitation of a vulnerable adult to agencies charged with administering state adult protective services laws and to law enforcement, either as part of a referral to the agency or to law enforcement, or upon request of the agency or law enforcement pursuant to an investigation. The records may include historical records as well as records relating to the most recent transaction or transactions that may comprise financial exploitation of a vulnerable adult. All records made available to agencies under this section are not a public record as defined in any state public records law. Nothing in this section shall limit or otherwise impede the authority of the commission to access or examine the books and records of broker-dealers and investment advisers as otherwise provided by law. (Act 2016-141, §9.)
AL Code § 8-6-179 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 7 - Protection of Vulnerable Adults From Financial Exploitation Act.|Section 8-6-179 - Rulemaking Authority.

Section 8-6-179Rulemaking authority.  The commission, from time to time, may make, amend, and rescind such rules pursuant to the Alabama Administrative Procedure Act and prescribe such forms as are necessary and desirable to carry out the provisions of this article. No rules or forms may be made or prescribed unless the commission finds that the action is necessary or appropriate in the public interest or for the protection of vulnerable adults and those protected under the article and consistent with the purposes fairly intended by the policy and provisions of this article. In prescribing rules and forms, the commission may cooperate with the securities administrators and adult protective services agencies of the other states and the United States Securities and Exchange Commission and the Financial Industry Regulatory Authority with a view to effectuating the policy of this article to achieve general uniformity in the application of the article wherever practicable. (Act 2016-141, §10.)
AL Code § 8-6-190 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 8 - Elderly and Vulnerable Adult Financial Protection Act of 2021|Section 8-6-190 - Short Title.

Section 8-6-190Short title. This article shall be known and may be cited as the Elderly and Vulnerable Adult Financial Protection Act of 2021. (Act 2021-78, §1.)
AL Code § 8-6-191 (2021)
2021 Code of Alabama|Title 8 - Commercial Law and Consumer Protection.|Chapter 6 - Securities.|Article 8 - Elderly and Vulnerable Adult Financial Protection Act of 2021|Section 8-6-191 - Legislative Findings.

Section 8-6-191Legislative findings. The Legislature finds that instances of financial exploitation are on the rise in Alabama and elsewhere, particularly among elderly and vulnerable adults. The Legislature recognizes that while financial institutions are uniquely positioned to potentially uncover instances of financial exploitation, they are also subject to duties imposed by contract and law to conduct financial transactions in accordance with their customers' instructions. While all instances of financial exploitation cannot be exposed, delayed, or thwarted, it is the intent of the Legislature that this article furnish financial institutions with additional tools to protect elderly and vulnerable adults from financial exploitation.  (Act 2021-78, §2.)