There Is a Newer Version of the Code of Alabama
2012 Code of Alabama
Title 19 - FIDUCIARIES AND TRUSTS.
Chapter 3 - TRUSTS.
Article 1 General Provisions.- Section 19-3-1 - Express trust for support, maintenance and education of relative; qualified trust under Internal Revenue Code; definitions.
- Section 19-3-2 - Extinguishment of trust.
- Section 19-3-3 - Estate of trustee; termination of trust estate.
- Section 19-3-4 - Indemnification of trustee.
- Section 19-3-5 - Notice of settlement.
- Section 19-3-6 - Allowance of fees.
- Section 19-3-7 - Registration of securities held by corporate fiduciary in name of nominee of such fiduciary.
- Section 19-3-8 - Execution of proxies by fiduciary holding corporate stocks.
- Section 19-3-9 - Satisfaction of pecuniary gifts by distribution of property in kind.
- Section 19-3-10 - Conversion or exchange, etc., of securities upon merger, consolidation, etc.
- Section 19-3-11 - Powers of fiduciaries regarding environmental laws affecting property held by fiduciary.
- Section 19-3-20 - Right of creditors to apply for order requiring trustee to give bond.
- Section 19-3-21 - Contents of application; notice of hearing.
- Section 19-3-22 - Hearing; order.
- Section 19-3-23 - Failure of trustee to give bond; appointment of successor.
- Section 19-3-24 - Duty of trustee to make inventory; filing of copies; supplemental inventories.
- Section 19-3-25 - Appointment and duties of appraisers.
- Section 19-3-26 - When petition for administration may be filed; contents of petition.
- Section 19-3-27 - Submission of petition to circuit judge; order designating time for presenting claims.
- Section 19-3-28 - Notice to creditors.
- Section 19-3-29 - Presentation of claims; verification; receipt.
- Section 19-3-30 - Claims docket.
- Section 19-3-31 - Claims presented and not objected to stand allowed.
- Section 19-3-32 - Objections to claims - Filing of objections.
- Section 19-3-33 - Objections to claims - Time for hearing; notice.
- Section 19-3-34 - Objections to claims - Conduct of hearing; order allowing or disallowing claim.
- Section 19-3-35 - Duty of trustee to render account.
- Section 19-3-36 - Time for settlement; notice to creditors.
- Section 19-3-37 - Examination and auditing of account; judgment.
- Section 19-3-38 - Admissibility of evidence at hearings; exceptions; appeals.
- Section 19-3-39 - Compromise or sale of bad debts.
- Section 19-3-40 - Sale of real estate; notice to creditors.
- Section 19-3-41 - When settlements compelled; removal of trustee and appointment of successor.
- Section 19-3-60 - Definition of "business trust."
- Section 19-3-61 - Establishment; lawful purposes.
- Section 19-3-62 - Powers and liabilities of trustees; liability of trust for acts of trustees.
- Section 19-3-63 - Certificates of ownership; liability of beneficial owners.
- Section 19-3-64 - Contents and recordation of declaration of trust.
- Section 19-3-65 - Duration of business trust; rules against perpetuities and restraint of alienation not violated.
- Section 19-3-66 - Suits against trust; property subject to attachment and execution.
- Section 19-3-67 - Taxation.
- Section 19-3-80 - "Fiduciary funds" defined.
- Section 19-3-81 - Fiduciary funds in hands of register, probate judge, sheriff, and clerk to be reported.
- Section 19-3-82 - Filing of reports of clerk and register.
- Section 19-3-83 - Filing of sheriff's report.
- Section 19-3-84 - Reports to be open to public.
- Section 19-3-85 - Filing and recordation of probate judge's report.
- Section 19-3-86 - Enforcement.
- Section 19-3-87 - Unclaimed funds.
- Section 19-3-100 - When trust estate may become liable.
- Section 19-3-101 - Petition to enforce liability - Filing; substitution of parties.
- Section 19-3-102 - Petition to enforce liability - Judgment charging estate.
- Section 19-3-103 - Petition to enforce liability - Pending action for administration.
- Section 19-3-104 - Petition to enforce liability - Charging real property.
- Section 19-3-105 - Misapplication of assets.
- Section 19-3-106 - Tracing misapplied assets.
- Section 19-3-107 - Framing relief so as to render trust effectual.
- Section 19-3-120 - Classes of authorized investments; repeal of conflicting statutes.
- Section 19-3-120.1 - Investments in common trusts, collective investment funds, and interests of investment companies and trusts.
- Section 19-3-120.2 - Standards for fiduciary investment and management.
- Section 19-3-121 - Interest-bearing warrants.
- Section 19-3-122 - Securities issued or insured by secretary of housing and urban development.
- Section 19-3-123 - Mortgages insured by secretary of housing and urban development - Investment.
- Section 19-3-124 - Mortgages insured by secretary of housing and urban development - Sale, etc.
- Section 19-3-125 - Life, endowment, or annuity contracts.
- Section 19-3-126 - Tax anticipation bonds, etc., of certain counties.
- Section 19-3-127 - Bonds of Tennessee Valley Authority.
- Section 19-3-128 - Debts incurred under National Housing Act and under acts of Congress relating to veterans' benefits.
- Section 19-3-129 - General rules of law govern trustee's liability.
- Section 19-3-130 - Investment outside state.
- Section 19-3-131 - Petition to obtain authority; notice.
- Section 19-3-132 - Judgment on hearing.
- Section 19-3-150 - "Fiduciary" defined.
- Section 19-3-151 - Right of fiduciary to participate in partnership; liability of fiduciary, estate and beneficial owners.
- Section 19-3-152 - Power of fiduciary to limit liability of estate or himself.
- Section 19-3-170 - Partition of freehold devised with contingent interest.
- Section 19-3-171 - Sale of land held under trust deed.
- Section 19-3-172 - Sale of land devised and held in trust.
- Section 19-3-173 - Investment of proceeds of sale.
- Section 19-3-190 - Power of circuit court to authorize removal of trust estate.
- Section 19-3-191 - Petition to obtain removal; notice.
- Section 19-3-192 - Judgment on hearing.
Division 1 General Provisions.
- Section 19-3-210 - Resignation.
- Section 19-3-211 - Removal - Grounds.
- Section 19-3-212 - Removal - Appointment of successor.
- Section 19-3-230 - Application to appoint trustee.
- Section 19-3-231 - Notice of hearing.
- Section 19-3-232 - Appointment of trustee.
- Section 19-3-233 - Bond.
- Section 19-3-234 - Fees of register or clerk.
- Section 19-3-250 - Power of circuit court to fill vacancy.
- Section 19-3-251 - When circuit court must appoint new trustee; number of new trustees.
- Section 19-3-252 - Survivorship between cotrustees.
- Section 19-3-253 - Representative of deceased sole trustee to settle with succeeding trustee.
- Section 19-3-270 - Definitions.
- Section 19-3-271 - Applicability of article; powers of settlor.
- Section 19-3-272 - Income and principal; disposition.
- Section 19-3-273 - Apportionment of income.
- Section 19-3-274 - Corporate dividends and share rights.
- Section 19-3-275 - Premium and discount obligations.
- Section 19-3-276 - Principal used in business.
- Section 19-3-277 - Principal comprising animals.
- Section 19-3-278 - Disposition of natural resources.
- Section 19-3-279 - Principal subject to depletion.
- Section 19-3-280 - Unproductive estate.
- Section 19-3-281 - Expenses — Trust estates.
- Section 19-3-282 - Expenses — Nontrust estates.
- Section 19-3-300 - Trustee not to engage in certain acts subjecting trust to federal taxation.
- Section 19-3-301 - Power to amend trust instrument.
- Section 19-3-302 - Rights and powers of courts and Attorney General not impaired.
- Section 19-3-303 - Future provisions of federal internal revenue laws included.
- Section 19-3-320 - Definitions.
- Section 19-3-321 - Trustee allowed to perform prudent person actions without prior court authorization.
- Section 19-3-322 - Powers of trustee.
- Section 19-3-323 - Termination of small trusts where continued administration too costly; actions by trustee to carry out trust purpose.
- Section 19-3-324 - Actions trustee who is also beneficiary may not perform; powers of person who has right to remove trustee; parties in interest.
- Section 19-3-325 - Concurrence of all co-trustees required.
- Section 19-3-326 - Payment out of trust estate of expenses of trustee in defending or prosecuting proceedings in good faith.
- Section 19-3-327 - Applicability of article.
- Section 19-3-328 - Construction of article.
Disclaimer: These codes may not be the most recent version. Alabama may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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