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https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-2/section-10a-2a-2-03/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 2 - Incorporation.›Section 10A-2A-2.03 - Liability for Preincorporation Transactions. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 2 - Incorporation. › Section 10A-2A-2.03 - Liability for Preincorporation Transactions. | Section 10A-2A-2.03
Liability for preincorporation transactions.
All persons purporting to act as or on behalf of a corporation, knowing there was no incorporation under this chapter, are jointly and severally liable for all liabilities created while so acting.
(Act 2019-94, §1.) |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-2/section-10a-2a-2-04/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 2 - Incorporation.›Section 10A-2A-2.04 - Organization of Corporation. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 2 - Incorporation. › Section 10A-2A-2.04 - Organization of Corporation. | Section 10A-2A-2.04
Organization of corporation.
(a) After incorporation:
(1) if initial directors are named in the certificate of incorporation, the initial directors shall hold an organizational meeting, at the call of a majority of the directors, to complete the organization of the corporation by appointing officers... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-2/section-10a-2a-2-05/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 2 - Incorporation.›Section 10A-2A-2.05 - Bylaws. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 2 - Incorporation. › Section 10A-2A-2.05 - Bylaws. | Section 10A-2A-2.05
Bylaws.
(a) The incorporators or board of directors of a corporation shall adopt initial bylaws for the corporation.
(b) The bylaws of a corporation may contain any provision that is not inconsistent with law or the certificate of incorporation.
(c) The bylaws may contain one or both of the followin... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-2/section-10a-2a-2-06/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 2 - Incorporation.›Section 10A-2A-2.06 - Emergency Bylaws. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 2 - Incorporation. › Section 10A-2A-2.06 - Emergency Bylaws. | Section 10A-2A-2.06
Emergency bylaws.
(a) Unless the certificate of incorporation provides otherwise, the board of directors may adopt bylaws to be effective only in an emergency defined in subsection (d). The emergency bylaws, which are subject to amendment or repeal by the stockholders, may make all provisions necess... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-2/section-10a-2a-2-07/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 2 - Incorporation.›Section 10A-2A-2.07 - Forum Selection Provisions. This Section Was Assigned by the Code Commissioner... | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 2 - Incorporation. › Section 10A-2A-2.07 - Forum Selection Provisions. This Section Was Assigned by the Code Commissioner in the 2019 Regular Session, Effective January 1, 2020. Th... | Section 10A-2A-2.07
Forum selection provisions.
(a) The certificate of incorporation or the bylaws may require that any or all internal corporate claims shall be brought exclusively in any specified court or courts of this state and, if so specified, in any additional courts in this state or in any other jurisdictions ... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-3/section-10a-2a-3-01/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 3 - Purposes and Powers.›Section 10A-2A-3.01 - Purposes. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 3 - Purposes and Powers. › Section 10A-2A-3.01 - Purposes. | Section 10A-2A-3.01
Purposes.
(a) Every corporation incorporated under this chapter has the purpose of engaging in any lawful business unless a more limited purpose is set forth in the certificate of incorporation.
(b) A corporation engaging in a business that is subject to regulation under another statute of this stat... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-3/section-10a-2a-3-02/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 3 - Purposes and Powers.›Section 10A-2A-3.02 - General Powers. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 3 - Purposes and Powers. › Section 10A-2A-3.02 - General Powers. | Section 10A-2A-3.02
General powers.
Unless its certificate of incorporation provides otherwise, every corporation has perpetual duration and succession in its corporate name and has the same powers as an individual to do all things necessary or convenient to carry out its business and affairs, including all entity powe... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-3/section-10a-2a-3-03/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 3 - Purposes and Powers.›Section 10A-2A-3.03 - Emergency Powers. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 3 - Purposes and Powers. › Section 10A-2A-3.03 - Emergency Powers. | Section 10A-2A-3.03
Emergency powers.
(a) In anticipation of or during an emergency defined in subsection (d), the board of directors of a corporation may:
(1) modify lines of succession to accommodate the incapacity of any director, officer, employee, or agent; and
(2) relocate the principal office, designate alternat... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-3/section-10a-2a-3-04/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 3 - Purposes and Powers.›Section 10A-2A-3.04 - Lack of Power to Act. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 3 - Purposes and Powers. › Section 10A-2A-3.04 - Lack of Power to Act. | Section 10A-2A-3.04
Lack of power to act.
(a) Except as provided in subsection (b), the validity of corporate action may not be challenged on the ground that the corporation lacks or lacked power to act.
(b) A corporation's power to act may be challenged:
(1) in a proceeding by a stockholder against the corporation to ... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-6/division-a/section-10a-2a-6-01/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 6 - Stock and Distributions.›Division A - Authorized Stock.›Section 10A-2A-6.01 - Authorized Stock. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 6 - Stock and Distributions. › Division A - Authorized Stock. › Section 10A-2A-6.01 - Authorized Stock. | Section 10A-2A-6.01
Authorized stock.
(a) The certificate of incorporation must set forth any classes of stock and series of stock within a class, and the number of shares of stock of each class and series, that the corporation is authorized to issue. If more than one class or series of stock is authorized, the certifi... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-6/division-a/section-10a-2a-6-02/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 6 - Stock and Distributions.›Division A - Authorized Stock.›Section 10A-2A-6.02 - Terms of Class or Series Determined by Board of Dire... | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 6 - Stock and Distributions. › Division A - Authorized Stock. › Section 10A-2A-6.02 - Terms of Class or Series Determined by Board of Directors. | Section 10A-2A-6.02
Terms of class or series determined by board of directors.
(a) When any corporation desires to issue any shares of stock of any class or of any series of any class of which the powers, designations, preferences, and relative, participating, optional, or other rights, if any, or the qualifications, l... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-6/division-a/section-10a-2a-6-03/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 6 - Stock and Distributions.›Division A - Authorized Stock.›Section 10A-2A-6.03 - Issued and Outstanding Stock. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 6 - Stock and Distributions. › Division A - Authorized Stock. › Section 10A-2A-6.03 - Issued and Outstanding Stock. | Section 10A-2A-6.03
Issued and outstanding stock.
(a) A corporation may issue the number of shares of stock of each class or series authorized by the certificate of incorporation. Stock that is issued is outstanding stock until it is reacquired, redeemed, converted, or cancelled.
(b) The reacquisition, redemption, or c... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-6/division-a/section-10a-2a-6-04/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 6 - Stock and Distributions.›Division A - Authorized Stock.›Section 10A-2A-6.04 - Fractional Stock. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 6 - Stock and Distributions. › Division A - Authorized Stock. › Section 10A-2A-6.04 - Fractional Stock. | Section 10A-2A-6.04
Fractional stock.
THIS SECTION WAS AMENDED BY ACT 2022-124 IN THE 2022 REGULAR SESSION, EFFECTIVE JUNE 1, 2022. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.
(a) A corporation may issue fractions of a share of stock or in lieu of doing so may:
(1) pay in cash the value of fractions of a share of stock... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-6/division-b/section-10a-2a-6-20/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 6 - Stock and Distributions.›Division B - Issuance of Stock.›Section 10A-2A-6.20 - Subscription for Stock Before Incorporation. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 6 - Stock and Distributions. › Division B - Issuance of Stock. › Section 10A-2A-6.20 - Subscription for Stock Before Incorporation. | Section 10A-2A-6.20
Subscription for stock before incorporation.
(a) A subscription for stock entered into before incorporation is irrevocable for six months unless the subscription agreement provides a longer or shorter period or all the subscribers agree to revocation.
(b) The board of directors may determine the pay... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-6/division-b/section-10a-2a-6-21/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 6 - Stock and Distributions.›Division B - Issuance of Stock.›Section 10A-2A-6.21 - Issuance of Stock. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 6 - Stock and Distributions. › Division B - Issuance of Stock. › Section 10A-2A-6.21 - Issuance of Stock. | Section 10A-2A-6.21
Issuance of stock.
(a) The powers granted in this section to the board of directors may be reserved to the stockholders by the certificate of incorporation.
(b) The board of directors may authorize stock to be issued for consideration consisting of a contribution.
(c) Before the corporation issues s... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-6/division-b/section-10a-2a-6-22/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 6 - Stock and Distributions.›Division B - Issuance of Stock.›Section 10A-2A-6.22 - Liability of Stockholders. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 6 - Stock and Distributions. › Division B - Issuance of Stock. › Section 10A-2A-6.22 - Liability of Stockholders. | Section 10A-2A-6.22
Liability of stockholders.
(a) A purchaser from a corporation of the corporation's own stock is not liable to the corporation or its creditors with respect to the stock except to pay the consideration for which the stock was authorized to be issued or specified in the subscription agreement.
(b) A s... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-6/division-b/section-10a-2a-6-23/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 6 - Stock and Distributions.›Division B - Issuance of Stock.›Section 10A-2A-6.23 - Stock Dividends. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 6 - Stock and Distributions. › Division B - Issuance of Stock. › Section 10A-2A-6.23 - Stock Dividends. | Section 10A-2A-6.23
Stock dividends.
(a) Unless the certificate of incorporation provides otherwise, stock may be issued pro rata and without consideration to the corporation's stockholders or to the stockholders of one or more classes or series of stock. An issuance of stock under this subsection is a stock dividend.
... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-6/division-b/section-10a-2a-6-24/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 6 - Stock and Distributions.›Division B - Issuance of Stock.›Section 10A-2A-6.24 - Stock Rights, Options, Warrants, and Awards. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 6 - Stock and Distributions. › Division B - Issuance of Stock. › Section 10A-2A-6.24 - Stock Rights, Options, Warrants, and Awards. | Section 10A-2A-6.24
Stock rights, options, warrants, and awards.
(a) A corporation may issue rights, options, or warrants for the purchase of stock or other securities of the corporation. The board of directors shall determine (i) the terms and conditions upon which the rights, options, or warrants are issued and (ii) ... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-6/division-b/section-10a-2a-6-25/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 6 - Stock and Distributions.›Division B - Issuance of Stock.›Section 10A-2A-6.25 - Form and Content of Certifications. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 6 - Stock and Distributions. › Division B - Issuance of Stock. › Section 10A-2A-6.25 - Form and Content of Certifications. | Section 10A-2A-6.25
Form and content of certifications.
(a) Stock may, but need not, be represented by certificates. Unless this chapter or another statute expressly provides otherwise, the rights and obligations of stockholders are identical regardless of whether their stock is represented by certificates.
(b) Each st... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-6/division-b/section-10a-2a-6-26/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 6 - Stock and Distributions.›Division B - Issuance of Stock.›Section 10A-2A-6.26 - Uncertificated Interests. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 6 - Stock and Distributions. › Division B - Issuance of Stock. › Section 10A-2A-6.26 - Uncertificated Interests. | Section 10A-2A-6.26
Uncertificated interests.
(a) Unless the certificate of incorporation or bylaws provide otherwise, the board of directors of a corporation may authorize the issuance of some or all of the shares of stock of any or all of its classes or series without certificates. The authorization does not affect s... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-6/division-b/section-10a-2a-6-27/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 6 - Stock and Distributions.›Division B - Issuance of Stock.›Section 10A-2A-6.27 - Restriction on Transfer of Stock. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 6 - Stock and Distributions. › Division B - Issuance of Stock. › Section 10A-2A-6.27 - Restriction on Transfer of Stock. | Section 10A-2A-6.27
Restriction on transfer of stock.
(a) The certificate of incorporation, the bylaws, an agreement among stockholders, or an agreement between stockholders and the corporation may impose restrictions on the transfer or registration of transfer of stock of the corporation. A restriction does not affect... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-6/division-b/section-10a-2a-6-28/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 6 - Stock and Distributions.›Division B - Issuance of Stock.›Section 10A-2A-6.28 - Expense of Issue. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 6 - Stock and Distributions. › Division B - Issuance of Stock. › Section 10A-2A-6.28 - Expense of Issue. | Section 10A-2A-6.28
Expense of issue.
A corporation may pay the expenses of selling or underwriting its shares, and of organizing or reorganizing the corporation, from the consideration received for shares.
(Act 2019-94, §1.) |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-6/division-c/section-10a-2a-6-30/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 6 - Stock and Distributions.›Division C - Subsequent Acquisition of Stock by Stockholders and Corporation.›Section 10A-2A-6.30 - Stock... | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 6 - Stock and Distributions. › Division C - Subsequent Acquisition of Stock by Stockholders and Corporation. › Section 10A-2A-6.30 - Stockholders' Preemptive Rights. | Section 10A-2A-6.30
Stockholders' preemptive rights.
(a) The stockholders of a corporation do not have a preemptive right to acquire the corporation's unissued stock except to the extent the certificate of incorporation so provides.
(b) A statement included in the certificate of incorporation that "the corporation elec... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-6/division-c/section-10a-2a-6-31/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 6 - Stock and Distributions.›Division C - Subsequent Acquisition of Stock by Stockholders and Corporation.›Section 10A-2A-6.31 - Corpo... | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 6 - Stock and Distributions. › Division C - Subsequent Acquisition of Stock by Stockholders and Corporation. › Section 10A-2A-6.31 - Corporation's Acquisition of Its Own Stock. | Section 10A-2A-6.31
Corporation's acquisition of its own stock.
(a) A corporation may acquire its own stock, and, unless otherwise provided in the certificate of incorporation, stock so acquired constitutes authorized but unissued stock.
(b) If the certificate of incorporation prohibits the reissue of the acquired stoc... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-6/division-d/section-10a-2a-6-40/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 6 - Stock and Distributions.›Division D - Distributions.›Section 10A-2A-6.40 - Distributions to Stockholders. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 6 - Stock and Distributions. › Division D - Distributions. › Section 10A-2A-6.40 - Distributions to Stockholders. | Section 10A-2A-6.40
Distributions to stockholders.
(a) The board of directors may authorize and the corporation may make distributions to its stockholders subject to restriction by the certificate of incorporation and the limitation in subsection (c).
(b) The board of directors may fix the record date for determining s... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-7/division-a/section-10a-2a-7-01/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 7 - Stockholders.›Division A - Meetings.›Section 10A-2A-7.01 - Annual Meetings. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 7 - Stockholders. › Division A - Meetings. › Section 10A-2A-7.01 - Annual Meetings. | Section 10A-2A-7.01
Annual meetings.
(a) Unless directors are elected by written consent in lieu of an annual meeting as permitted by Section 10A-2A-7.04, a corporation shall hold a meeting of stockholders annually at a time stated in or fixed in accordance with the certificate of incorporation or bylaws at which direc... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-7/division-a/section-10a-2a-7-02/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 7 - Stockholders.›Division A - Meetings.›Section 10A-2A-7.02 - Special Meetings. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 7 - Stockholders. › Division A - Meetings. › Section 10A-2A-7.02 - Special Meetings. | Section 10A-2A-7.02
Special meetings.
(a) Special meetings of the stockholders may be called by the board of directors or by such person or persons as may be authorized by the certificate of incorporation or by the bylaws.
(b) In the event that the certificate of incorporation or bylaws allow stockholders to demand a s... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-7/division-a/section-10a-2a-7-03/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 7 - Stockholders.›Division A - Meetings.›Section 10A-2A-7.03 - Court-Ordered Meetings. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 7 - Stockholders. › Division A - Meetings. › Section 10A-2A-7.03 - Court-Ordered Meetings. | Section 10A-2A-7.03
Court-ordered meetings.
(a) The designated court, and if none, the circuit court for the county in which the corporation's principal office is located in this state, and, if none in this state, the circuit court for the county in which the corporation's most recent registered office is located may s... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-7/division-a/section-10a-2a-7-04/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 7 - Stockholders.›Division A - Meetings.›Section 10A-2A-7.04 - Action Without Meeting. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 7 - Stockholders. › Division A - Meetings. › Section 10A-2A-7.04 - Action Without Meeting. | Section 10A-2A-7.04
Action without meeting.
(a) Unless otherwise provided in the certificate of incorporation, any action required or permitted by this chapter to be taken at any meeting of the stockholders may be taken without a meeting, and without prior notice, if one or more consents in writing setting forth the ac... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-7/division-a/section-10a-2a-7-05/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 7 - Stockholders.›Division A - Meetings.›Section 10A-2A-7.05 - Notice of Meeting. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 7 - Stockholders. › Division A - Meetings. › Section 10A-2A-7.05 - Notice of Meeting. | Section 10A-2A-7.05
Notice of meeting.
(a) A corporation shall notify stockholders of the place, if any, date, and time of each annual and special stockholders' meeting no fewer than 10 nor more than 60 days before the meeting date. If the board of directors has authorized participation by means of remote communication... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-7/division-a/section-10a-2a-7-06/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 7 - Stockholders.›Division A - Meetings.›Section 10A-2A-7.06 - Waiver of Notice. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 7 - Stockholders. › Division A - Meetings. › Section 10A-2A-7.06 - Waiver of Notice. | Section 10A-2A-7.06
Waiver of notice.
(a) A stockholder may waive any notice required by this chapter or the certificate of incorporation or bylaws, before or after the date and time stated in the notice. The waiver must be in writing, be signed by the stockholder entitled to the notice, and be delivered to the corpora... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-7/division-a/section-10a-2a-7-07/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 7 - Stockholders.›Division A - Meetings.›Section 10A-2A-7.07 - Record Date for Meeting. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 7 - Stockholders. › Division A - Meetings. › Section 10A-2A-7.07 - Record Date for Meeting. | Section 10A-2A-7.07
Record date for meeting.
(a) The certificate of incorporation or bylaws may fix or provide the manner of fixing the record date or dates for one or more voting groups to determine the stockholders entitled to notice of a stockholders' meeting, to demand a special meeting, to vote, or to take any oth... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-7/division-a/section-10a-2a-7-08/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 7 - Stockholders.›Division A - Meetings.›Section 10A-2A-7.08 - Conduct of Meeting. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 7 - Stockholders. › Division A - Meetings. › Section 10A-2A-7.08 - Conduct of Meeting. | Section 10A-2A-7.08
Conduct of meeting.
Unless the certificate of incorporation or bylaws provide otherwise, a meeting of the stockholders shall be conducted as follows:
(a) At each meeting of stockholders, a chair shall preside. The chair shall be appointed by the board of directors.
(b) The board of directors shall d... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-7/division-a/section-10a-2a-7-09/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 7 - Stockholders.›Division A - Meetings.›Section 10A-2A-7.09 - Remote Participation in Stockholders' Meetings; Meetings Held Solely by... | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 7 - Stockholders. › Division A - Meetings. › Section 10A-2A-7.09 - Remote Participation in Stockholders' Meetings; Meetings Held Solely by Remote Participation. | Section 10A-2A-7.09
Remote participation in stockholders' meetings; meetings held solely by remote participation.
(a) Stockholders of any class or series of stock may participate in any meeting of stockholders by means of remote communication to the extent the board of directors authorizes participation for that class ... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-7/division-b/section-10a-2a-7-20/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 7 - Stockholders.›Division B - Voting.›Section 10A-2A-7.20 - Stockholders' List for Meeting. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 7 - Stockholders. › Division B - Voting. › Section 10A-2A-7.20 - Stockholders' List for Meeting. | Section 10A-2A-7.20
Stockholders' list for meeting.
(a) After fixing a record date for a meeting, a corporation shall prepare an alphabetical list of the names of all its stockholders who are entitled to notice of the stockholders' meeting. If the board of directors fixes a different record date under Section 10A-2A-7.... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-7/division-b/section-10a-2a-7-21/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 7 - Stockholders.›Division B - Voting.›Section 10A-2A-7.21 - Voting Entitlement of Stock. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 7 - Stockholders. › Division B - Voting. › Section 10A-2A-7.21 - Voting Entitlement of Stock. | Section 10A-2A-7.21
Voting entitlement of stock.
(a) Except as provided in subsections (b) and (d) or unless the certificate of incorporation provides otherwise, each outstanding share of stock, regardless of class or series, is entitled to one vote on each matter voted on at a stockholders' meeting. Only stock is enti... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-7/division-b/section-10a-2a-7-22/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 7 - Stockholders.›Division B - Voting.›Section 10A-2A-7.22 - Proxies. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 7 - Stockholders. › Division B - Voting. › Section 10A-2A-7.22 - Proxies. | Section 10A-2A-7.22
Proxies.
(a) A stockholder may vote the stockholder's stock in person or by proxy.
(b) A stockholder, or the stockholder's agent or attorney-in-fact, may appoint a proxy to vote or otherwise act for the stockholder by signing an appointment form, or by an electronic transmission. An electronic trans... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-7/division-b/section-10a-2a-7-23/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 7 - Stockholders.›Division B - Voting.›Section 10A-2A-7.23 - Stock Held by Intermediaries and Nominees. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 7 - Stockholders. › Division B - Voting. › Section 10A-2A-7.23 - Stock Held by Intermediaries and Nominees. | Section 10A-2A-7.23
Stock held by intermediaries and nominees.
(a) A corporation's board of directors may establish a procedure under which a person on whose behalf stock is registered in the name of an intermediary or nominee may elect to be treated by the corporation as the record stockholder by filing with the corpo... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-7/division-b/section-10a-2a-7-24/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 7 - Stockholders.›Division B - Voting.›Section 10A-2A-7.24 - Acceptance of Votes and Other Instruments. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 7 - Stockholders. › Division B - Voting. › Section 10A-2A-7.24 - Acceptance of Votes and Other Instruments. | Section 10A-2A-7.24
Acceptance of votes and other instruments.
(a) If the name signed on a vote, ballot, consent, waiver, stockholder demand, or proxy appointment corresponds to the name of a stockholder, the corporation, if acting in good faith, is entitled to accept the vote, ballot, consent, waiver, stockholder dema... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-7/division-b/section-10a-2a-7-25/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 7 - Stockholders.›Division B - Voting.›Section 10A-2A-7.25 - Quorum and Voting Requirements for Voting Groups. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 7 - Stockholders. › Division B - Voting. › Section 10A-2A-7.25 - Quorum and Voting Requirements for Voting Groups. | Section 10A-2A-7.25
Quorum and voting requirements for voting groups.
(a) Stock entitled to vote as a separate voting group may take action on a matter at a meeting only if a quorum of those shares of stock exists with respect to that matter. Unless the certificate of incorporation provides otherwise, stock representin... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-7/division-b/section-10a-2a-7-26/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 7 - Stockholders.›Division B - Voting.›Section 10A-2A-7.26 - Action by Single and Multiple Voting Groups. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 7 - Stockholders. › Division B - Voting. › Section 10A-2A-7.26 - Action by Single and Multiple Voting Groups. | Section 10A-2A-7.26
Action by single and multiple voting groups.
(a) If the certificate of incorporation or this chapter provides for voting by a single voting group on a matter, action on that matter is taken when voted upon by that voting group as provided in Section 10A-2A-7.25.
(b) If the certificate of incorporati... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-7/division-b/section-10a-2a-7-27/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 7 - Stockholders.›Division B - Voting.›Section 10A-2A-7.27 - Modifying Quorum or Voting Requirements. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 7 - Stockholders. › Division B - Voting. › Section 10A-2A-7.27 - Modifying Quorum or Voting Requirements. | Section 10A-2A-7.27
Modifying quorum or voting requirements.
An amendment to the certificate of incorporation that adds, changes, or deletes a quorum or voting requirement shall meet the same quorum requirement and be adopted by the same vote and voting groups required to take action under the quorum and voting require... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-7/division-b/section-10a-2a-7-28/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 7 - Stockholders.›Division B - Voting.›Section 10A-2A-7.28 - Voting for Directors; Cumulative Voting. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 7 - Stockholders. › Division B - Voting. › Section 10A-2A-7.28 - Voting for Directors; Cumulative Voting. | Section 10A-2A-7.28
Voting for directors; cumulative voting.
(a) Unless otherwise provided in the certificate of incorporation, directors are elected by a plurality of the votes cast by the stock entitled to vote in the election at a meeting at which a quorum is present.
(b) Stockholders do not have a right to cumulate... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-7/division-b/section-10a-2a-7-29/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 7 - Stockholders.›Division B - Voting.›Section 10A-2A-7.29 - Inspectors of Election. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 7 - Stockholders. › Division B - Voting. › Section 10A-2A-7.29 - Inspectors of Election. | Section 10A-2A-7.29
Inspectors of election.
(a) The corporation shall, in advance of any meeting of stockholders, appoint one or more inspectors to act at the meeting and make a written report thereof. The corporation may designate one or more persons as alternate inspectors to replace any inspector who fails to act. I... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-7/division-c/section-10a-2a-7-30/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 7 - Stockholders.›Division C - Voting Trusts and Agreements.›Section 10A-2A-7.30 - Voting Trusts. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 7 - Stockholders. › Division C - Voting Trusts and Agreements. › Section 10A-2A-7.30 - Voting Trusts. | Section 10A-2A-7.30
Voting trusts.
(a) One or more stockholders may create a voting trust, conferring on a trustee the right to vote or otherwise act for them, by signing an agreement setting out the provisions of the trust (which may include anything consistent with its purpose) and transferring their stock to the tru... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-7/division-c/section-10a-2a-7-31/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 7 - Stockholders.›Division C - Voting Trusts and Agreements.›Section 10A-2A-7.31 - Voting Agreements. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 7 - Stockholders. › Division C - Voting Trusts and Agreements. › Section 10A-2A-7.31 - Voting Agreements. | Section 10A-2A-7.31
Voting agreements.
(a) Two or more stockholders may provide for the manner in which they will vote their stock by signing an agreement for that purpose. A voting agreement created under this section is not subject to the provisions of Section 10A-2A-7.30.
(b) A voting agreement created under this se... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-7/division-c/section-10a-2a-7-32/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 7 - Stockholders.›Division C - Voting Trusts and Agreements.›Section 10A-2A-7.32 - Stockholder Agreements. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 7 - Stockholders. › Division C - Voting Trusts and Agreements. › Section 10A-2A-7.32 - Stockholder Agreements. | Section 10A-2A-7.32
Stockholder agreements.
(a) An agreement among the stockholders of a corporation that complies with this section is effective among the stockholders and the corporation even though it is inconsistent with one or more other provisions of this chapter in that it:
(1) eliminates the board of directors ... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-7/division-d/section-10a-2a-7-40/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 7 - Stockholders.›Division D - Derivative Proceedings.›Section 10A-2A-7.40 - Division Definitions. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 7 - Stockholders. › Division D - Derivative Proceedings. › Section 10A-2A-7.40 - Division Definitions. | Section 10A-2A-7.40
Division definitions.
In this division:
(1) COURT means the designated court, and if none, the circuit court for the county in which the corporation's principal office is located in this state, and if none in this state, the circuit court for the county in which the corporation's most recent registe... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-7/division-d/section-10a-2a-7-41/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 7 - Stockholders.›Division D - Derivative Proceedings.›Section 10A-2A-7.41 - Right of Derivative Action. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 7 - Stockholders. › Division D - Derivative Proceedings. › Section 10A-2A-7.41 - Right of Derivative Action. | Section 10A-2A-7.41
Right of derivative action.
A stockholder may commence or maintain a derivative action in the right of a corporation to enforce a right of the corporation by complying with this division.
(Act 2019-94, §1.) |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-7/division-d/section-10a-2a-7-42/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 7 - Stockholders.›Division D - Derivative Proceedings.›Section 10A-2A-7.42 - Standing. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 7 - Stockholders. › Division D - Derivative Proceedings. › Section 10A-2A-7.42 - Standing. | Section 10A-2A-7.42
Standing.
A stockholder may commence or maintain a derivative action in the right of the corporation only if the stockholder:
(1) fairly and adequately represents the interests of the corporation in enforcing the right of the corporation; and
(2) either:
(A) was a stockholder of the corporation at t... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-7/division-d/section-10a-2a-7-43/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 7 - Stockholders.›Division D - Derivative Proceedings.›Section 10A-2A-7.43 - Demand. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 7 - Stockholders. › Division D - Derivative Proceedings. › Section 10A-2A-7.43 - Demand. | Section 10A-2A-7.43
Demand.
A stockholder may commence a derivative action in the right of the corporation, if:
(a) the stockholder first makes a written demand upon the corporation requesting that it bring an action to enforce the right and the corporation does not bring the action within a reasonable time; or
(b) a d... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-7/division-d/section-10a-2a-7-44/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 7 - Stockholders.›Division D - Derivative Proceedings.›Section 10A-2A-7.44 - Pleading. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 7 - Stockholders. › Division D - Derivative Proceedings. › Section 10A-2A-7.44 - Pleading. | Section 10A-2A-7.44
Pleading.
In a derivative action, the complaint must state with particularity:
(a) the date and content of plaintiff's demand and the corporation's response by the corporation to the demand; or
(b) why the demand should be excused as futile.
(Act 2019-94, §1.) |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-7/division-d/section-10a-2a-7-45/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 7 - Stockholders.›Division D - Derivative Proceedings.›Section 10A-2A-7.45 - Stay of Proceedings. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 7 - Stockholders. › Division D - Derivative Proceedings. › Section 10A-2A-7.45 - Stay of Proceedings. | Section 10A-2A-7.45
Stay of proceedings.
For the purpose of allowing the corporation time to undertake an inquiry into the allegations made in the demand or complaint commenced pursuant to this division, the court may stay any derivative action for the period the court deems appropriate.
(Act 2019-94, §1.) |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-7/division-d/section-10a-2a-7-46/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 7 - Stockholders.›Division D - Derivative Proceedings.›Section 10A-2A-7.46 - Discontinuance or Settlement. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 7 - Stockholders. › Division D - Derivative Proceedings. › Section 10A-2A-7.46 - Discontinuance or Settlement. | Section 10A-2A-7.46
Discontinuance or settlement.
A derivative action may not be dismissed or compromised without the approval of the court, and notice of the proposed dismissal or compromise shall be given to stockholders of the corporation in such manner as the court directs.
(Act 2019-94, §1.) |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-7/division-d/section-10a-2a-7-47/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 7 - Stockholders.›Division D - Derivative Proceedings.›Section 10A-2A-7.47 - Proceeds and Expenses. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 7 - Stockholders. › Division D - Derivative Proceedings. › Section 10A-2A-7.47 - Proceeds and Expenses. | Section 10A-2A-7.47
Proceeds and expenses.
(a) Except as otherwise provided in subsection (b):
(1) any proceeds or other benefits of a derivative action, whether by judgment, compromise, or settlement, belong to the corporation and not to the derivative plaintiff; and
(2) if the derivative plaintiff receives any procee... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-7/division-d/section-10a-2a-7-48/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 7 - Stockholders.›Division D - Derivative Proceedings.›Section 10A-2A-7.48 - Applicability to Foreign Corporations. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 7 - Stockholders. › Division D - Derivative Proceedings. › Section 10A-2A-7.48 - Applicability to Foreign Corporations. | Section 10A-2A-7.48
Applicability to foreign corporations.
In any derivative action in the right of a foreign corporation, the right of a person to commence or maintain a derivative action in the right of a foreign corporation, and any matters raised in the action covered by Sections 10A-2A-7.42 through 10A-2A-7.47, sh... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-8/division-a/section-10a-2a-8-01/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 8 - Directors and Officers.›Division A - Board of Directors.›Section 10A-2A-8.01 - Requirement for and Functions of Board of Directors... | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 8 - Directors and Officers. › Division A - Board of Directors. › Section 10A-2A-8.01 - Requirement for and Functions of Board of Directors. | Section 10A-2A-8.01
Requirement for and functions of board of directors.
(a) Except as may be provided in an agreement authorized under Section 10A-2A-7.32, each corporation shall have a board of directors.
(b) Except as may be provided in an agreement authorized under Section 10A-2A-7.32, and subject to any limitation... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-8/division-a/section-10a-2a-8-02/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 8 - Directors and Officers.›Division A - Board of Directors.›Section 10A-2A-8.02 - Qualifications of Directors. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 8 - Directors and Officers. › Division A - Board of Directors. › Section 10A-2A-8.02 - Qualifications of Directors. | Section 10A-2A-8.02
Qualifications of directors.
(a) The certificate of incorporation or bylaws may prescribe qualifications for directors or for nominees for directors. Qualifications must be reasonable as applied to the corporation and be lawful.
(b) A requirement that is based on a past, prospective, or current acti... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-8/division-a/section-10a-2a-8-03/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 8 - Directors and Officers.›Division A - Board of Directors.›Section 10A-2A-8.03 - Number and Election of Directors. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 8 - Directors and Officers. › Division A - Board of Directors. › Section 10A-2A-8.03 - Number and Election of Directors. | Section 10A-2A-8.03
Number and election of directors.
(a) A board of directors shall consist of one or more individuals, with the number specified in or fixed in accordance with the certificate of incorporation or bylaws.
(b) The number of directors may be increased or decreased from time to time by amendment to, or in... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-8/division-a/section-10a-2a-8-04/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 8 - Directors and Officers.›Division A - Board of Directors.›Section 10A-2A-8.04 - Election of Directors by Certain Classes or Series ... | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 8 - Directors and Officers. › Division A - Board of Directors. › Section 10A-2A-8.04 - Election of Directors by Certain Classes or Series of Stock. | Section 10A-2A-8.04
Election of directors by certain classes or series of stock.
If the certificate of incorporation or action by the board of directors pursuant to Section 10A-2A-6.02 authorizes dividing the stock into classes or series, the certificate of incorporation may also authorize the election of all or a spec... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-8/division-a/section-10a-2a-8-05/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 8 - Directors and Officers.›Division A - Board of Directors.›Section 10A-2A-8.05 - Terms of Directors Generally. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 8 - Directors and Officers. › Division A - Board of Directors. › Section 10A-2A-8.05 - Terms of Directors Generally. | Section 10A-2A-8.05
Terms of directors generally.
(a) The terms of the initial directors of a corporation expire at the first stockholders' meeting at which directors are elected.
(b) The terms of all other directors expire at the next, or if their terms are staggered in accordance with Section 10A-2A-8.06, at the appl... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-8/division-a/section-10a-2a-8-06/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 8 - Directors and Officers.›Division A - Board of Directors.›Section 10A-2A-8.06 - Staggered Terms for Directors. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 8 - Directors and Officers. › Division A - Board of Directors. › Section 10A-2A-8.06 - Staggered Terms for Directors. | Section 10A-2A-8.06
Staggered terms for directors.
The certificate of incorporation may provide for staggering the terms of directors by dividing the total number of directors into two or three groups, with each group containing half or one-third of the total, as near as may be practicable. In that event, the terms of ... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-8/division-a/section-10a-2a-8-07/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 8 - Directors and Officers.›Division A - Board of Directors.›Section 10A-2A-8.07 - Resignation of Directors. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 8 - Directors and Officers. › Division A - Board of Directors. › Section 10A-2A-8.07 - Resignation of Directors. | Section 10A-2A-8.07
Resignation of directors.
(a) A director may resign at any time by delivering a written notice of resignation to the board of directors or its chair, to the secretary, or to the corporation.
(b) A resignation is effective as provided in Section 10A-2A-1.41(i) unless the resignation provides for a de... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-8/division-a/section-10a-2a-8-08/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 8 - Directors and Officers.›Division A - Board of Directors.›Section 10A-2A-8.08 - Removal of Directors by Stockholders. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 8 - Directors and Officers. › Division A - Board of Directors. › Section 10A-2A-8.08 - Removal of Directors by Stockholders. | Section 10A-2A-8.08
Removal of directors by stockholders.
(a) The stockholders may remove one or more directors with or without cause unless the certificate of incorporation provides that directors may be removed only for cause.
(b) If a director is elected by a voting group of stockholders, only the stockholders of th... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-8/division-a/section-10a-2a-8-09/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 8 - Directors and Officers.›Division A - Board of Directors.›Section 10A-2A-8.09 - Removal of Directors by Judicial Proceeding. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 8 - Directors and Officers. › Division A - Board of Directors. › Section 10A-2A-8.09 - Removal of Directors by Judicial Proceeding. | Section 10A-2A-8.09
Removal of directors by judicial proceeding.
(a) The designated court, and if none, the circuit court for the county in which the corporation's principal office is located in this state, and if none in this state, the circuit court for the county in which the corporation's most recent registered off... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-8/division-a/section-10a-2a-8-10/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 8 - Directors and Officers.›Division A - Board of Directors.›Section 10A-2A-8.10 - Vacancy on Board of Directors. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 8 - Directors and Officers. › Division A - Board of Directors. › Section 10A-2A-8.10 - Vacancy on Board of Directors. | Section 10A-2A-8.10
Vacancy on board of directors.
(a) Unless the certificate of incorporation provides otherwise, if a vacancy occurs on a board of directors, including a vacancy resulting from an increase in the number of directors:
(1) the stockholders may fill the vacancy;
(2) the board of directors may fill the va... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-8/division-a/section-10a-2a-8-11/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 8 - Directors and Officers.›Division A - Board of Directors.›Section 10A-2A-8.11 - Compensation of Directors. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 8 - Directors and Officers. › Division A - Board of Directors. › Section 10A-2A-8.11 - Compensation of Directors. | Section 10A-2A-8.11
Compensation of directors.
Unless the certificate of incorporation or bylaws provide otherwise, the board of directors may fix the compensation of directors.
(Act 2019-94, §1.) |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-8/division-b/section-10a-2a-8-20/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 8 - Directors and Officers.›Division B - Meetings and Action of the Board of Directors.›Section 10A-2A-8.20 - Meetings. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 8 - Directors and Officers. › Division B - Meetings and Action of the Board of Directors. › Section 10A-2A-8.20 - Meetings. | Section 10A-2A-8.20
Meetings.
(a) The board of directors may hold regular or special meetings in or out of this state.
(b) Unless restricted by the certificate of incorporation or bylaws, any or all directors may participate in any meeting of the board of directors through the use of any means of communication by which... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-8/division-b/section-10a-2a-8-21/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 8 - Directors and Officers.›Division B - Meetings and Action of the Board of Directors.›Section 10A-2A-8.21 - Action Without Meeting. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 8 - Directors and Officers. › Division B - Meetings and Action of the Board of Directors. › Section 10A-2A-8.21 - Action Without Meeting. | Section 10A-2A-8.21
Action without meeting.
(a) Except to the extent that the certificate of incorporation or bylaws require that action by the board of directors be taken at a meeting, action required or permitted by this chapter to be taken by the board of directors may be taken without a meeting if each director sig... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-8/division-b/section-10a-2a-8-22/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 8 - Directors and Officers.›Division B - Meetings and Action of the Board of Directors.›Section 10A-2A-8.22 - Notice of Meeting. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 8 - Directors and Officers. › Division B - Meetings and Action of the Board of Directors. › Section 10A-2A-8.22 - Notice of Meeting. | Section 10A-2A-8.22
Notice of meeting.
(a) Unless the certificate of incorporation or bylaws provide otherwise, regular meetings of the board of directors may be held without notice of the date, time, place, or purpose of the meeting.
(b) Unless the certificate of incorporation or bylaws provide for a longer or shorter... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-8/division-b/section-10a-2a-8-23/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 8 - Directors and Officers.›Division B - Meetings and Action of the Board of Directors.›Section 10A-2A-8.23 - Waiver of Notice. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 8 - Directors and Officers. › Division B - Meetings and Action of the Board of Directors. › Section 10A-2A-8.23 - Waiver of Notice. | Section 10A-2A-8.23
Waiver of notice.
(a) A director may waive any notice required by this chapter, the certificate of incorporation or the bylaws before or after the date and time stated in the notice. Except as provided by subsection (b), the waiver must be in writing, signed by the director entitled to the notice an... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-8/division-b/section-10a-2a-8-24/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 8 - Directors and Officers.›Division B - Meetings and Action of the Board of Directors.›Section 10A-2A-8.24 - Quorum and Voting. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 8 - Directors and Officers. › Division B - Meetings and Action of the Board of Directors. › Section 10A-2A-8.24 - Quorum and Voting. | Section 10A-2A-8.24
Quorum and voting.
(a) Unless the certificate of incorporation or bylaws provide for a greater or lesser number or unless otherwise expressly provided in this chapter, a quorum of a board of directors consists of a majority of the number of directors specified in or fixed in accordance with the cert... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-8/division-b/section-10a-2a-8-25/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 8 - Directors and Officers.›Division B - Meetings and Action of the Board of Directors.›Section 10A-2A-8.25 - Committees of the Board. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 8 - Directors and Officers. › Division B - Meetings and Action of the Board of Directors. › Section 10A-2A-8.25 - Committees of the Board. | Section 10A-2A-8.25
Committees of the board.
(a) Unless this chapter, the certificate of incorporation, or the bylaws provide otherwise, a board of directors may establish one or more board committees composed exclusively of one or more directors to perform functions of the board of directors.
(b) The establishment of ... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-8/division-b/section-10a-2a-8-26/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 8 - Directors and Officers.›Division B - Meetings and Action of the Board of Directors.›Section 10A-2A-8.26 - Submission of Matters fo... | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 8 - Directors and Officers. › Division B - Meetings and Action of the Board of Directors. › Section 10A-2A-8.26 - Submission of Matters for Stockholder Vote. | Section 10A-2A-8.26
Submission of matters for stockholder vote.
A corporation may agree to submit a matter to a vote of its stockholders even if, after approving the matter, the board of directors determines it no longer recommends the matter.
(Act 2019-94, §1.) |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-8/division-c/section-10a-2a-8-30/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 8 - Directors and Officers.›Division C - Directors.›Section 10A-2A-8.30 - Standards of Conduct for Directors. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 8 - Directors and Officers. › Division C - Directors. › Section 10A-2A-8.30 - Standards of Conduct for Directors. | Section 10A-2A-8.30
Standards of conduct for directors.
Division C of Article 3 of Chapter 1 shall not apply to this chapter. Instead:
(a) Each member of the board of directors, when discharging the duties of a director, shall act: (i) in good faith, and (ii) in a manner the director reasonably believes to be in the be... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-8/division-c/section-10a-2a-8-31/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 8 - Directors and Officers.›Division C - Directors.›Section 10A-2A-8.31 - Standards of Liability for Directors. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 8 - Directors and Officers. › Division C - Directors. › Section 10A-2A-8.31 - Standards of Liability for Directors. | Section 10A-2A-8.31
Standards of liability for directors.
Division C of Article 3 of Chapter 1 shall not apply to this chapter. Instead:
(a) A director shall not be liable to the corporation or its stockholders for any decision to take or not to take action, or any failure to take any action, as a director, unless the ... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-8/division-c/section-10a-2a-8-32/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 8 - Directors and Officers.›Division C - Directors.›Section 10A-2A-8.32 - Directors' Liability for Unlawful Distributions. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 8 - Directors and Officers. › Division C - Directors. › Section 10A-2A-8.32 - Directors' Liability for Unlawful Distributions. | Section 10A-2A-8.32
Directors' liability for unlawful distributions.
(a) A director who votes for or assents to a distribution in excess of what may be authorized and made pursuant to Section 10A-2A-6.40(a) or Section 10A-2A-14.08(a) is personally liable to the corporation for the amount of the distribution that exceed... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-8/division-d/section-10a-2a-8-40/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 8 - Directors and Officers.›Division D - Officers.›Section 10A-2A-8.40 - Officers. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 8 - Directors and Officers. › Division D - Officers. › Section 10A-2A-8.40 - Officers. | Section 10A-2A-8.40
Officers.
(a) A corporation has the officers described in its certificate of incorporation or bylaws or appointed by the board of directors in accordance with the certificate of incorporation or bylaws.
(b) The board of directors may elect individuals to fill one or more offices of the corporation. ... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-8/division-d/section-10a-2a-8-41/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 8 - Directors and Officers.›Division D - Officers.›Section 10A-2A-8.41 - Functions of Officers. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 8 - Directors and Officers. › Division D - Officers. › Section 10A-2A-8.41 - Functions of Officers. | Section 10A-2A-8.41
Functions of officers.
Each officer has the authority and shall perform the functions set forth in the certificate of incorporation or bylaws or, to the extent consistent with the certificate of incorporation or bylaws, the functions prescribed by the board of directors or by direction of an officer... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-8/division-d/section-10a-2a-8-42/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 8 - Directors and Officers.›Division D - Officers.›Section 10A-2A-8.42 - Standards of Conduct for Officers. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 8 - Directors and Officers. › Division D - Officers. › Section 10A-2A-8.42 - Standards of Conduct for Officers. | Section 10A-2A-8.42
Standards of conduct for officers.
Division C of Article 3 of Chapter 1 shall not apply to this chapter. Instead:
(a) An officer, when performing in his or her capacity as such, has the duty to act:
(1) in good faith;
(2) with the care that a person in a like position would reasonably exercise under... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-8/division-d/section-10a-2a-8-43/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 8 - Directors and Officers.›Division D - Officers.›Section 10A-2A-8.43 - Resignation and Removal of Officers. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 8 - Directors and Officers. › Division D - Officers. › Section 10A-2A-8.43 - Resignation and Removal of Officers. | Section 10A-2A-8.43
Resignation and removal of officers.
Division C of Article 3 of Chapter 1 shall not apply to this chapter. Instead:
(a) An officer may resign at any time by delivering a written notice to the board of directors, its chair, the appointing officer, the secretary, or the corporation. A resignation is e... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-8/division-d/section-10a-2a-8-44/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 8 - Directors and Officers.›Division D - Officers.›Section 10A-2A-8.44 - Contract Rights of Officers. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 8 - Directors and Officers. › Division D - Officers. › Section 10A-2A-8.44 - Contract Rights of Officers. | Section 10A-2A-8.44
Contract rights of officers.
(a) The election or appointment of an officer does not itself create contract rights.
(b) An officer's removal does not affect the officer's contract rights, if any, with the corporation. An officer's resignation does not affect the corporation's contract rights, if any,... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-8/division-e/section-10a-2a-8-50/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 8 - Directors and Officers.›Division E - Indemnification and Advance for Expenses.›Section 10A-2A-8.50 - Division Definitions. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 8 - Directors and Officers. › Division E - Indemnification and Advance for Expenses. › Section 10A-2A-8.50 - Division Definitions. | Section 10A-2A-8.50
Division definitions.
In this division:
(1) "Corporation" includes any domestic or foreign predecessor entity of a corporation.
(2) "Director" or "officer" means an individual who is or was a director or officer, respectively, of a corporation or who, while a director or officer of the corporation, ... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-8/division-e/section-10a-2a-8-51/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 8 - Directors and Officers.›Division E - Indemnification and Advance for Expenses.›Section 10A-2A-8.51 - Permissible Indemnification. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 8 - Directors and Officers. › Division E - Indemnification and Advance for Expenses. › Section 10A-2A-8.51 - Permissible Indemnification. | Section 10A-2A-8.51
Permissible indemnification.
(a) Except as otherwise provided in this section, a corporation may indemnify an individual who is a party to a proceeding because the individual is a director against liability incurred in the proceeding if:
(1) (i) the director conducted himself or herself in good fait... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-8/division-e/section-10a-2a-8-52/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 8 - Directors and Officers.›Division E - Indemnification and Advance for Expenses.›Section 10A-2A-8.52 - Mandatory Indemnification. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 8 - Directors and Officers. › Division E - Indemnification and Advance for Expenses. › Section 10A-2A-8.52 - Mandatory Indemnification. | Section 10A-2A-8.52
Mandatory indemnification.
A corporation shall indemnify a director who was wholly successful, on the merits or otherwise, in the defense of any proceeding to which the director was a party because he or she was a director of the corporation against expenses incurred by the director in connection wi... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-8/division-e/section-10a-2a-8-53/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 8 - Directors and Officers.›Division E - Indemnification and Advance for Expenses.›Section 10A-2A-8.53 - Advance for Expenses. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 8 - Directors and Officers. › Division E - Indemnification and Advance for Expenses. › Section 10A-2A-8.53 - Advance for Expenses. | Section 10A-2A-8.53
Advance for expenses.
(a) A corporation may, before final disposition of a proceeding, advance funds to pay for or reimburse expenses incurred in connection with the proceeding by an individual who is a party to the proceeding because that individual is a director if the director delivers to the cor... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-8/division-e/section-10a-2a-8-54/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 8 - Directors and Officers.›Division E - Indemnification and Advance for Expenses.›Section 10A-2A-8.54 - Court-Ordered Indemnification... | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 8 - Directors and Officers. › Division E - Indemnification and Advance for Expenses. › Section 10A-2A-8.54 - Court-Ordered Indemnification and Advance for Expenses. | Section 10A-2A-8.54
Court-ordered indemnification and advance for expenses.
(a) A director who is a party to a proceeding because he or she is a director may apply for indemnification or an advance for expenses to the court conducting the proceeding or to another court of competent jurisdiction. After receipt of an app... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-8/division-e/section-10a-2a-8-55/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 8 - Directors and Officers.›Division E - Indemnification and Advance for Expenses.›Section 10A-2A-8.55 - Determination and Authorizati... | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 8 - Directors and Officers. › Division E - Indemnification and Advance for Expenses. › Section 10A-2A-8.55 - Determination and Authorization of Indemnification. | Section 10A-2A-8.55
Determination and authorization of indemnification.
(a) A corporation may not indemnify a director under Section 10A-2A-8.51 unless authorized for a specific proceeding after a determination has been made that indemnification is permissible because the director has met the relevant standard of condu... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-8/division-e/section-10a-2a-8-56/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 8 - Directors and Officers.›Division E - Indemnification and Advance for Expenses.›Section 10A-2A-8.56 - Indemnification of Officers. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 8 - Directors and Officers. › Division E - Indemnification and Advance for Expenses. › Section 10A-2A-8.56 - Indemnification of Officers. | Section 10A-2A-8.56
Indemnification of officers.
(a) A corporation may indemnify and advance expenses under this Division E of this Article 8 to an officer who is a party to a proceeding because he or she is an officer
(1) to the same extent as a director; and
(2) if he or she is an officer but not a director, to such ... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-8/division-e/section-10a-2a-8-57/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 8 - Directors and Officers.›Division E - Indemnification and Advance for Expenses.›Section 10A-2A-8.57 - Insurance. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 8 - Directors and Officers. › Division E - Indemnification and Advance for Expenses. › Section 10A-2A-8.57 - Insurance. | Section 10A-2A-8.57
Insurance.
A corporation may purchase and maintain insurance on behalf of an individual who is a director or officer of the corporation, or who, while a director or officer of the corporation, serves at the corporation's request as a director, officer, partner, trustee, employee, or agent of another... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-8/division-e/section-10a-2a-8-58/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 8 - Directors and Officers.›Division E - Indemnification and Advance for Expenses.›Section 10A-2A-8.58 - Variation by Corporate Action... | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 8 - Directors and Officers. › Division E - Indemnification and Advance for Expenses. › Section 10A-2A-8.58 - Variation by Corporate Action; Application of Division. | Section 10A-2A-8.58
Variation by corporate action; application of division.
(a) A corporation may, by a provision in its certificate of incorporation, bylaws, or in a resolution adopted or a contract approved by the board of directors or stockholders, obligate itself in advance of the act or omission giving rise to a p... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-8/division-e/section-10a-2a-8-59/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 8 - Directors and Officers.›Division E - Indemnification and Advance for Expenses.›Section 10A-2A-8.59 - Exclusivity of Division. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 8 - Directors and Officers. › Division E - Indemnification and Advance for Expenses. › Section 10A-2A-8.59 - Exclusivity of Division. | Section 10A-2A-8.59
Exclusivity of division.
Division A of Article 6 of Chapter 1 shall not apply to this chapter. Instead, a corporation may provide indemnification or advance expenses to a director or an officer only as permitted by this Division E of this Article 8.
(Act 2019-94, §1; Act 2021-299, §3.) |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-8/division-f/section-10a-2a-8-60/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 8 - Directors and Officers.›Division F - Interested Directors; Quorum.›Section 10A-2A-8.60 - Interested Directors; Quorum. This Sectio... | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 8 - Directors and Officers. › Division F - Interested Directors; Quorum. › Section 10A-2A-8.60 - Interested Directors; Quorum. This Section Was Assigned by the Code Commissioner in... | Section 10A-2A-8.60
Interested directors; quorum.
(a) No contract or transaction between a corporation and one or more of its directors or officers, or between a corporation and any other corporation, partnership, association, or other entity in which one or more of its directors or officers, are directors or officers,... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-9/division-a/section-10a-2a-9-01/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 9 - Conversions.›Division A - Article Definitions.›Section 10A-2A-9.01 - Definitions. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 9 - Conversions. › Division A - Article Definitions. › Section 10A-2A-9.01 - Definitions. | Section 10A-2A-9.01
Definitions.
As used in this Article 9:
As used in this article, unless the context otherwise requires, the following terms have the following meanings:
(1) CONVERTED ORGANIZATION means the organization into which a converting organization converts pursuant to this article.
(2) CONVERTING CORPORATIO... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-9/division-b/section-10a-2a-9-11/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 9 - Conversions.›Division B - Conversion.›Section 10A-2A-9.11 - Conversion. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 9 - Conversions. › Division B - Conversion. › Section 10A-2A-9.11 - Conversion. | Section 10A-2A-9.11
Conversion.
(a) An organization other than a corporation may convert to a corporation, and a corporation may convert to an organization other than a corporation pursuant to this article, and a plan of conversion, if:
(1) the governing statute of the organization that is not a corporation authorizes ... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-9/division-b/section-10a-2a-9-12/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 9 - Conversions.›Division B - Conversion.›Section 10A-2A-9.12 - Action on a Plan of Conversion. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 9 - Conversions. › Division B - Conversion. › Section 10A-2A-9.12 - Action on a Plan of Conversion. | Section 10A-2A-9.12
Action on a plan of conversion.
In the case of a conversion of a corporation the plan of conversion shall be adopted in the following manner:
(a) The plan of conversion shall first be adopted by the board of directors.
(b) The plan of conversion shall then be approved by the stockholders. In submitt... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-9/division-b/section-10a-2a-9-13/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 9 - Conversions.›Division B - Conversion.›Section 10A-2A-9.13 - Statement of Conversion; Effectiveness. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 9 - Conversions. › Division B - Conversion. › Section 10A-2A-9.13 - Statement of Conversion; Effectiveness. | Section 10A-2A-9.13
Statement of conversion; effectiveness.
(a) After a plan of conversion is approved:
(1) if the converting organization is an organization formed under, or its internal affairs are governed by, the laws of this state, the converting organization shall file a statement of conversion in accordance with... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-9/division-b/section-10a-2a-9-14/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 9 - Conversions.›Division B - Conversion.›Section 10A-2A-9.14 - Amendment of Plan of Conversion; Abandonment. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 9 - Conversions. › Division B - Conversion. › Section 10A-2A-9.14 - Amendment of Plan of Conversion; Abandonment. | Section 10A-2A-9.14
Amendment of plan of conversion; abandonment.
(a) A plan of conversion of a converting organization that is a corporation may be amended:
(1) in the same manner as the plan was approved, if the plan does not provide for the manner in which it may be amended; or
(2) in the manner provided in the plan... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-9/division-b/section-10a-2a-9-15/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 9 - Conversions.›Division B - Conversion.›Section 10A-2A-9.15 - Effect of Conversion. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 9 - Conversions. › Division B - Conversion. › Section 10A-2A-9.15 - Effect of Conversion. | Section 10A-2A-9.15
Effect of conversion.
(a) When a conversion takes effect:
(1) all property and contract rights owned by the converting organization remain vested in the converted organization without transfer, reversion, or impairment, and the title to any property vested by deed or otherwise in the converting orga... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-9/division-b/section-10a-2a-9-16/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 2A - Alabama Business Corporation Law.›Article 9 - Conversions.›Division B - Conversion.›Section 10A-2A-9.16 - Nonexclusive. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 9 - Conversions. › Division B - Conversion. › Section 10A-2A-9.16 - Nonexclusive. | Section 10A-2A-9.16
Nonexclusive.
This article is not exclusive. This article does not preclude a corporation from converting under law other than this chapter.
(Act 2019-94, §1.) |
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