reglab/housing_qa huggingface dataset:
AL Code § 5-12A-6 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 12A - Administration, etc., of Common Trust Funds.|Section 5-12A-6 - Control of Investments by Instrument Under Which Trust Institution Acts.

Section 5-12A-6Control of investments by instrument under which trust institution acts. If the instrument under which a trust institution acts as fiduciary, whether such fiduciary capacity arose before or is created after July 8, 1943, shall either expressly or by its silence limit or restrict the investment of moneys of the estate and securities to the class authorized by law as legal investments, the trust institution may, in its capacity as sole fiduciary or with the consent of any person acting with it in a fiduciary capacity, invest and reinvest moneys of the estate in any such common trust fund maintained by the trust institution or by an affiliated trust institution, provided, the securities composing such fund consist solely of securities of the class authorized as legal investments for funds held by a fiduciary. If the instrument under which the trust institution acts as fiduciary, whether such fiduciary capacity arose before or is created after July 8, 1943, shall authorize investments of moneys of the estate in a common trust fund or in investments other than those designated by law as legal investments or shall authorize the trust institution, either alone or in conjunction with any person acting with it in a fiduciary capacity, to exercise its or their discretion with respect to the investment of moneys of the estate, the trust institution may, in its capacity as sole fiduciary or with the consent of any person acting with it in a fiduciary capacity, invest and reinvest moneys of the estate in any such common trust fund maintained by it or by an affiliated trust institution. Any such common trust fund consisting solely of moneys of estates contributed thereto by the trust institution pursuant to authority contained in any such instrument creating the fiduciary capacity to invest moneys of the estates in a common trust fund or in investments other than legal investments or pursuant to such discretionary powers with respect to the investment of moneys creating the fiduciary capacity may be composed of investments other than those of the class designated by law as legal investments for funds held by fiduciaries. In order to determine whether the investment of funds received or held by a trust institution as fiduciary in a participation in a common trust fund is proper, the trust institution may consider the common trust fund as a whole and shall not, for example, be prohibited from making such investment because any particular asset is nonincome-producing. (Acts 1980, No. 80-658, §5-12-6.)
AL Code § 5-12A-7 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 12A - Administration, etc., of Common Trust Funds.|Section 5-12A-7 - Investment of Estate Moneys in Fund; Withdrawals.

Section 5-12A-7Investment of estate moneys in fund; withdrawals. The trust institution shall invest the moneys of an estate (whether the estate is administered by such trust institution or by an affiliated trust institution) in such common trust fund by adding the same thereto and by apportioning a participation therein to such estate in the proportion that the moneys of the estate added thereto bears to the aggregate value of all the securities of such fund at the time of such investment, including in such securities the moneys of the estate so added. The withdrawal of a participation of such common trust fund shall be on the basis of its proportionate interest in the aggregate value of all the securities of such fund at the time of such withdrawal, as hereinafter provided. The participating interest of any estate in such common trust funds may, from time to time, be withdrawn in whole or in part by the trust institution administering the estate and shall be withdrawn within a period of three months following the written request to do so of any person acting with the trust institution administering the estate in a fiduciary capacity. Funds for the purpose of any withdrawal shall be made promptly available by the trust institution through sale of securities of the common trust fund. Upon such withdrawals, the trust institution may make distribution in cash or ratably in kind or partly in cash and partly in kind; provided, that all such distribution as of any one time shall be made on the same basis. (Acts 1980, No. 80-658, §5-12-7.)
AL Code § 5-12A-8 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 12A - Administration, etc., of Common Trust Funds.|Section 5-12A-8 - Record of Fiduciary Accounts Owning Interest in Fund; Extent of Interest.

Section 5-12A-8Record of fiduciary accounts owning interest in fund; extent of interest. The trust institution shall designate clearly upon its records the names of the fiduciary accounts which own a participation in the common trust fund and the extent of the interest of such fiduciary accounts therein. No fiduciary account owning or holding an investment or participation in a common trust fund shall be deemed to have individual ownership of any asset in such common trust fund, but should be deemed to have only a proportionate undivided interest in the common trust fund. (Acts 1980, No. 80-658, §5-12-8.)
AL Code § 5-12A-9 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 12A - Administration, etc., of Common Trust Funds.|Section 5-12A-9 - Annual Audit.

Section 5-12A-9Annual audit. At least once during each period of 12 months, the trust institution shall cause an audit to be made of the common trust fund by an auditor or auditors responsible only to the board of directors of the trust institution. The report of such audit shall include a list of the investments comprising the common trust fund at the time of the audit, which shall show the valuation placed on each item as of the date of the audit, a statement of purchases, sales and any other investment changes and of all income and disbursements during the period to which the audit relates. The period of the first audit shall commence with the establishment of the common trust fund, and each succeeding audit shall commence at the end of the period covering the preceding audit. The reasonable expense of any such audit may be charged to the common trust fund, and a copy of such audit shall be available at the principal office of the trust institution for inspection during all regular business hours to any person having an interest in a participation in the common trust fund; provided, that the trust institution shall be required to furnish a copy of such audit to any person having a share in the investments of the common trust fund without expense to such person should the interested person request a copy of such audit. (Acts 1980, No. 80-658, §5-12-9.)
AL Code § 5-12A-10 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 12A - Administration, etc., of Common Trust Funds.|Section 5-12A-10 - Quarterly Valuation of Securities in Fund.

Section 5-12A-10Quarterly valuation of securities in fund. No less frequently than once during each period of three months, the trust institution administering a common trust fund shall determine the value of the securities in the common trust fund as of the dates set for the valuation thereof. No participation shall be admitted to or withdrawn from the common trust fund, except (i) on the basis of such valuation and (ii) as of such valuation date. (Acts 1980, No. 80-658, §5-12-10.)
AL Code § 5-12A-11 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 12A - Administration, etc., of Common Trust Funds.|Section 5-12A-11 - Management and Control of Fund; Ownership of Assets.

Section 5-12A-11Management and control of fund; ownership of assets. The trust institution shall have the exclusive management and control of each common trust fund administered by it and the sole right at any time to sell, convert, exchange, transfer or otherwise change or dispose of the assets comprising the same. The ownership of such assets shall be solely in the trust institution as fiduciary and shall be considered as assets held by it as fiduciary. A trust institution shall not invest any of its own funds in a common trust fund administered by it or by an affiliated trust institution; and, if the trust institution, because of a creditor relationship or any other reason, acquires any interest in a participation in such common trust fund, the participation shall be withdrawn on the first date on which such withdrawal can be effected; however, in no case shall an unsecured advance to a participant until the time of the next withdrawal be deemed to constitute the acquisition of an interest by a trust institution. A trust institution may charge a fee for the management of a common trust fund administered by it; provided, that the fractional part of such fee proportionate to the interest of each participant shall not, when added to any other compensations charged by the trust institution or by an affiliated trust institution to the participant, exceed the total amount of compensations which would have been charged to said participant if no assets of said participant had been invested in participations in the common trust fund. (Acts 1980, No. 80-658, §5-12-11.)
AL Code § 5-12A-12 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 12A - Administration, etc., of Common Trust Funds.|Section 5-12A-12 - Mistakes in Administration of Fund.

Section 5-12A-12Mistakes in administration of fund. No mistake made in good faith and in the exercise of due care in connection with the administration of a common trust fund shall be deemed to be a violation of this chapter or of any rules or regulations issued pursuant thereto if promptly after discovery of the mistake the trust institution takes whatever action may be practical in the circumstances to remedy the mistake. (Acts 1980, No. 80-658, §5-12-12.)
AL Code § 5-12A-13 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 12A - Administration, etc., of Common Trust Funds.|Section 5-12A-13 - Administration, etc., of Common Trust Funds Differing From Funds Permitted by This Chapter.

Section 5-12A-13Administration, etc., of common trust funds differing from funds permitted by this chapter. Nothing contained in this chapter shall prohibit a trust institution, when it acts in accordance with specific authority contained in the instrument or instruments under which the trust institution acts, from establishing, maintaining, administering and investing in, without regard to the requirements and limitations of this chapter, one or more common trust funds differing from the common trust funds expressly permitted by this chapter. (Acts 1980, No. 80-658, §5-12-13.)
AL Code § 5-12A-14 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 12A - Administration, etc., of Common Trust Funds.|Section 5-12A-14 - Accountings.

Section 5-12A-14Accountings. Unless ordered by a court of competent jurisdiction, a trust institution administering a common trust fund shall not be required to render a court accounting with regard to such fund, but it may file returns and make accountings in the same manner and for the same purposes as is provided by law for other fiduciaries. (Acts 1980, No. 80-658, §5-12-14.)
AL Code § 5-12A-15 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 12A - Administration, etc., of Common Trust Funds.|Section 5-12A-15 - Taxation.

Section 5-12A-15Taxation. A common trust fund, whether established, maintained, and administered pursuant to the requirements of this chapter or established, maintained, administered, and invested in without regard to the requirements and limitations of this chapter, as provided in Section 5-12A-13, shall not be subject to taxation under any income tax law of the State of Alabama. The computation of gain, loss, basis, taxable income, taxable loss, and other income tax treatment of a common trust fund and its participants, shall be determined in accordance with 26 U.S.C. §584, as amended from time to time. Every trust institution maintaining a common trust fund shall make a return under oath for each fiscal year stating specifically with respect to the fund the items of gross income and the deductions allowed by law, and shall include in the return the names and addresses of the participants entitled to share in the net income of the fund and the amount of the proportionate share of each participant. (Acts 1980, No. 80-658, §5-12-15; Acts 1997, No. 97-194, p. 305, §1.)
AL Code § 5-14A-1 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 14A - Regional Reciprocal Savings Institutions.|Section 5-14A-1 - Short Title.

Section 5-14A-1Short title. Repealed by Act 2015-70 effective April 21, 2015. (Acts 1987, No. 87-152, p. 207, §1.)
AL Code § 5-14A-2 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 14A - Regional Reciprocal Savings Institutions.|Section 5-14A-2 - Definitions.

Section 5-14A-2Definitions. Repealed by Act 2015-70 effective April 21, 2015. (Acts 1987, No. 87-152, p. 207, §2.)
AL Code § 5-14A-3 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 14A - Regional Reciprocal Savings Institutions.|Section 5-14A-3 - Acquisition of Alabama Savings and Loan Holding Company or Alabama Savings Institution by Regional Holding Company or Institution.

Section 5-14A-3Acquisition of Alabama savings and loan holding company or Alabama savings institution by regional holding company or institution. Repealed by Act 2015-70 effective April 21, 2015. (Acts 1987, No. 87-152, p. 207, §3.)
AL Code § 5-14A-4 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 14A - Regional Reciprocal Savings Institutions.|Section 5-14A-4 - Enforcement.

Section 5-14A-4Enforcement. Repealed by Act 2015-70 effective April 21, 2015. (Acts 1987, No. 87-152, p. 207, §4.)
AL Code § 5-14A-5 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 14A - Regional Reciprocal Savings Institutions.|Section 5-14A-5 - Applicable Law.

Section 5-14A-5Applicable law. Repealed by Act 2015-70 effective April 21, 2015. (Acts 1987, No. 87-152, p. 207, §5.)
AL Code § 5-14A-6 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 14A - Regional Reciprocal Savings Institutions.|Section 5-14A-6 - Regulatory Supervision in Cooperation With Other Savings Institutions Regulatory Agencies.

Section 5-14A-6Regulatory supervision in cooperation with other savings institutions regulatory agencies. Repealed by Act 2015-70 effective April 21, 2015. (Acts 1987, No. 87-152, p. 207, §6.)
AL Code § 5-14A-7 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 14A - Regional Reciprocal Savings Institutions.|Section 5-14A-7 - Application Fee.

Section 5-14A-7Application fee. Repealed by Act 2015-70 effective April 21, 2015. (Acts 1987, No. 87-152, p. 207, §7.)
AL Code § 5-14A-8 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 14A - Regional Reciprocal Savings Institutions.|Section 5-14A-8 - Power to Establish or Acquire Branch Offices and Subsidiaries.

Section 5-14A-8Power to establish or acquire branch offices and subsidiaries. Repealed by Act 2015-70 effective April 21, 2015. (Acts 1987, No. 87-152, p. 207, §8.)
AL Code § 5-16-1 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 16 - Savings and Loan Associations.|Section 5-16-1 - Short Title.

Section 5-16-1Short title. Repealed by Act 2015-70 effective April 21, 2015. (Acts 1939, No. 459, p. 616, §1.)
AL Code § 5-16-2 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 16 - Savings and Loan Associations.|Section 5-16-2 - Definitions.

Section 5-16-2Definitions. Repealed by Act 2015-70 effective April 21, 2015. (Acts 1939, No. 459, p. 616, §1; Code 1940, T. 5, §211; Acts 1959, No. 590, p. 1477.)
AL Code § 5-16-3 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 16 - Savings and Loan Associations.|Section 5-16-3 - Associations, etc., Accepting Money for Promotion of Thrift and Financing of Homes Subject to Provisions of Chapter, Etc.

Section 5-16-3Associations, etc., accepting money for promotion of thrift and financing of homes subject to provisions of chapter, etc. Repealed by Act 2015-70 effective April 21, 2015. (Acts 1939, No. 459, p. 616; Code 1940, T. 5, §218.)
AL Code § 5-16-4 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 16 - Savings and Loan Associations.|Section 5-16-4 - Procedure for Incorporation - Petition for Certificate of Incorporation; Subscription by Incorporators, Etc.

Section 5-16-4Procedure for incorporation - Petition for certificate of incorporation; subscription by incorporators, etc. Repealed by Act 2015-70 effective April 21, 2015. (Acts 1939, No. 459, p. 616; Code 1940, T. 5, §212.)
AL Code § 5-16-5 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 16 - Savings and Loan Associations.|Section 5-16-5 - Procedure for Incorporation - Approval of Petition for Certificate of Incorporation; Certificate of Approval.

Section 5-16-5Procedure for incorporation - Approval of petition for certificate of incorporation; certificate of approval. Repealed by Act 2015-70 effective April 21, 2015. (Acts 1939, No. 459, p. 616; Code 1940, T. 5, §245.)
AL Code § 5-16-6 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 16 - Savings and Loan Associations.|Section 5-16-6 - Procedure for Incorporation - Issuance of Certificate of Incorporation.

Section 5-16-6Procedure for incorporation - Issuance of certificate of incorporation. Repealed by Act 2015-70 effective April 21, 2015. (Acts 1939, No. 459, p. 616; Code 1940, T. 5, §213.)
AL Code § 5-16-7 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 16 - Savings and Loan Associations.|Section 5-16-7 - Bylaws.

Section 5-16-7Bylaws. Repealed by Act 2015-70 effective April 21, 2015. (Acts 1939, No. 459, p. 616; Code 1940, T. 5, §214.)
AL Code § 5-16-8 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 16 - Savings and Loan Associations.|Section 5-16-8 - Organizational Meeting.

Section 5-16-8Organizational meeting. Repealed by Act 2015-70 effective April 21, 2015. (Acts 1939, No. 459, p. 616; Code 1940, T. 5, §215.)
AL Code § 5-16-9 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 16 - Savings and Loan Associations.|Section 5-16-9 - Corporate Name and Offices - Generally.

Section 5-16-9Corporate name and offices - Generally. Repealed by Act 2015-70 effective April 21, 2015. (Acts 1939, No. 459, p. 616; Code 1940, T. 5, §216.)
AL Code § 5-16-10 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 16 - Savings and Loan Associations.|Section 5-16-10 - Corporate Name and Offices - Change of Location of Home Office; Certificate of Approval, Etc.

Section 5-16-10Corporate name and offices - Change of location of home office; certificate of approval, etc. Repealed by Act 2015-70 effective April 21, 2015. (Acts 1939, No. 459, p. 616; Code 1940, T. 5, §246.)
AL Code § 5-16-11 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 16 - Savings and Loan Associations.|Section 5-16-11 - Corporate Name and Offices - Establishment of Branch Offices.

Section 5-16-11Corporate name and offices - Establishment of branch offices. Repealed by Act 2015-70 effective April 21, 2015. (Acts 1939, No. 459, p. 616; Code 1940, T. 5, §247.)
AL Code § 5-16-12 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 16 - Savings and Loan Associations.|Section 5-16-12 - Period for Commencement of Business; Forfeiture of Corporate Existence for Nonuse.

Section 5-16-12Period for commencement of business; forfeiture of corporate existence for nonuse. Repealed by Act 2015-70 effective April 21, 2015. (Acts 1939, No. 459, p. 616; Code 1940, T. 5, §217.)
AL Code § 5-16-13 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 16 - Savings and Loan Associations.|Section 5-16-13 - Rights, Privileges, etc., of Members; Annual Meeting; Annual Financial Statement; Voting by Members; Assessment of Fines and Penalties Against Members; Transfer of Real Estate Security by Borrowing Member.

Section 5-16-13Rights, privileges, etc., of members; annual meeting; annual financial statement; voting by members; assessment of fines and penalties against members; transfer of real estate security by borrowing member. Repealed by Act 2015-70 effective April 21, 2015. (Acts 1939, No. 459, p. 616; Code 1940, T. 5, §219.)
AL Code § 5-16-14 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 16 - Savings and Loan Associations.|Section 5-16-14 - Directors, Officers and Employees.

Section 5-16-14Directors, officers and employees. Repealed by Act 2015-70 effective April 21, 2015. (Acts 1939, No. 459, p. 616; Code 1940, T. 5, §220; Acts 1943, No. 107, p. 107.)
AL Code § 5-16-15 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 16 - Savings and Loan Associations.|Section 5-16-15 - Books, Records and Accounts.

Section 5-16-15Books, records and accounts. Repealed by Act 2015-70 effective April 21, 2015. (Acts 1939, No. 459, p. 616; Code 1940, T. 5, §221.)
AL Code § 5-16-16 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 16 - Savings and Loan Associations.|Section 5-16-16 - Capital and Accounts.

Section 5-16-16Capital and accounts. Repealed by Act 2015-70 effective April 21, 2015. (Acts 1939, No. 459, p. 616; Code 1940, T. 5, §222.)
AL Code § 5-16-17 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 16 - Savings and Loan Associations.|Section 5-16-17 - Reserve Accounts; Interest Due and Accrued Account.

Section 5-16-17Reserve accounts; interest due and accrued account. Repealed by Act 2015-70 effective April 21, 2015. (Acts 1939, No. 459, p. 616; Code 1940, T. 5, §223.)
AL Code § 5-16-18 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 16 - Savings and Loan Associations.|Section 5-16-18 - Undivided Profits Account.

Section 5-16-18Undivided profits account. Repealed by Act 2015-70 effective April 21, 2015. (Acts 1939, No. 459, p. 616; Code 1940, T. 5, §224.)
AL Code § 5-16-19 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 16 - Savings and Loan Associations.|Section 5-16-19 - Dividends.

Section 5-16-19Dividends. Repealed by Act 2015-70 effective April 21, 2015. (Acts 1939, No. 459, p. 616; Code 1940, T. 5, §225.)
AL Code § 5-16-20 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 16 - Savings and Loan Associations.|Section 5-16-20 - Repurchase of Accounts.

Section 5-16-20Repurchase of accounts. Repealed by Act 2015-70 effective April 21, 2015. (Acts 1939, No. 459, p. 616; Code 1940, T. 5, §226.)
AL Code § 5-16-21 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 16 - Savings and Loan Associations.|Section 5-16-21 - Redemption of Accounts.

Section 5-16-21Redemption of accounts. Repealed by Act 2015-70 effective April 21, 2015. (Acts 1939, No. 459, p. 616; Code 1940, T. 5, §227.)
AL Code § 5-16-22 (2021)
2021 Code of Alabama|Title 5 - Banks and Financial Institutions.|Chapter 16 - Savings and Loan Associations.|Section 5-16-22 - Issuance of Duplicate Membership Certificates.

Section 5-16-22Issuance of duplicate membership certificates. Repealed by Act 2015-70 effective April 21, 2015. (Acts 1939, No. 459, p. 616; Code 1940, T. 5, §228.)