§ 41-10-420 Legislative intent
§ 41-10-421 Real Estate Commission Building Authority established; composition; powers
§ 41-10-422 Commission to become public corporation
§ 41-10-423 Certificate of incorporation
§ 41-10-424 Board of directors
§ 41-10-425 Powers of the authority
§ 41-10-426 Notes of the authority
§ 41-10-427 Authority authorized to sell, rent, etc., set charges or rents or make rent adjustments necessary to meet obligations
§ 41-10-428 Resolutions adopted and all proceedings of board of directors to be recorded and filed; copies received in all courts as prima facie evidence
§ 41-10-429 Properties, etc., forever exempt from any and all taxation
§ 41-10-430 Contracts and obligations not debts of state
§ 41-10-431 Authority as nonprofit corporation
§ 41-10-432 Funds appropriated for Alabama Real Estate Commission Building Authority Fund; state to have no further obligations or rights after property, contracts, etc., assigned, transferred or conveyed
§ 41-10-433 Dissolution of authority
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Terms Used In Alabama Code > Title 41 > Chapter 10 > Article 13 - Real Estate Commission Building Authority

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Quorum: The number of legislators that must be present to do business.
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Trustee: A person or institution holding and administering property in trust.
  • writing: includes typewriting and printing on paper. See Alabama Code 1-1-1