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https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-10/division-a/section-10a-2a-10-01/ | 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 10 - Amendment of Certificate of Incorporation and Bylaws.›Division A - Amendment of Certificate of Incorporation.›Section 10A-2A-10.0... | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 10 - Amendment of Certificate of Incorporation and Bylaws. › Division A - Amendment of Certificate of Incorporation. › Section 10A-2A-10.01 - Authority to Amend. | Section 10A-2A-10.01
Authority to amend.
(a) A corporation may amend its certificate of incorporation at any time to add or change a provision that is required or permitted in the certificate of incorporation as of the effective date of the amendment or to delete a provision that is not required to be contained in the ... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-10/division-a/section-10a-2a-10-02/ | 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 10 - Amendment of Certificate of Incorporation and Bylaws.›Division A - Amendment of Certificate of Incorporation.›Section 10A-2A-10.0... | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 10 - Amendment of Certificate of Incorporation and Bylaws. › Division A - Amendment of Certificate of Incorporation. › Section 10A-2A-10.02 - Amendment Before Issuance of Stock. | Section 10A-2A-10.02
Amendment before issuance of stock.
If a corporation has not yet issued stock, its board of directors, or its incorporators if it has no board of directors, may adopt one or more amendments to the corporation's certificate of incorporation.
(Act 2019-94, §1.) |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-10/division-a/section-10a-2a-10-03/ | 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 10 - Amendment of Certificate of Incorporation and Bylaws.›Division A - Amendment of Certificate of Incorporation.›Section 10A-2A-10.0... | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 10 - Amendment of Certificate of Incorporation and Bylaws. › Division A - Amendment of Certificate of Incorporation. › Section 10A-2A-10.03 - Amendment by Board of Directors and St... | Section 10A-2A-10.03
Amendment by board of directors and stockholders.
If a corporation has issued stock, an amendment to the certificate of incorporation shall be adopted in the following manner:
(a) The proposed amendment shall first be adopted by the board of directors.
(b) Except as provided in Sections 10A-2A-10.0... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-10/division-a/section-10a-2a-10-04/ | 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 10 - Amendment of Certificate of Incorporation and Bylaws.›Division A - Amendment of Certificate of Incorporation.›Section 10A-2A-10.0... | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 10 - Amendment of Certificate of Incorporation and Bylaws. › Division A - Amendment of Certificate of Incorporation. › Section 10A-2A-10.04 - Voting on Amendments by Voting Groups. | Section 10A-2A-10.04
Voting on amendments by voting groups.
(a) The holders of the outstanding stock of a class are entitled to vote as a separate voting group (if stockholder voting is otherwise required by this chapter) on a proposed amendment to the certificate of incorporation if the amendment would:
(1) effect an ... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-10/division-a/section-10a-2a-10-05/ | 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 10 - Amendment of Certificate of Incorporation and Bylaws.›Division A - Amendment of Certificate of Incorporation.›Section 10A-2A-10.0... | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 10 - Amendment of Certificate of Incorporation and Bylaws. › Division A - Amendment of Certificate of Incorporation. › Section 10A-2A-10.05 - Amendment by Board of Directors. | Section 10A-2A-10.05
Amendment by board of directors.
Unless the certificate of incorporation provides otherwise, a corporation's board of directors may adopt amendments to the corporation's certificate of incorporation without stockholder approval:
(a) to extend the duration of the corporation if it was incorporated a... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-10/division-a/section-10a-2a-10-06/ | 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 10 - Amendment of Certificate of Incorporation and Bylaws.›Division A - Amendment of Certificate of Incorporation.›Section 10A-2A-10.0... | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 10 - Amendment of Certificate of Incorporation and Bylaws. › Division A - Amendment of Certificate of Incorporation. › Section 10A-2A-10.06 - Certificate of Amendment. | Section 10A-2A-10.06
Certificate of amendment.
Division B of Article 3 of Chapter 1 shall not apply to this chapter. Instead:
(a) After an amendment to the certificate of incorporation has been adopted and approved in the manner required by this chapter and by the certificate of incorporation, the corporation shall del... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-10/division-a/section-10a-2a-10-07/ | 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 10 - Amendment of Certificate of Incorporation and Bylaws.›Division A - Amendment of Certificate of Incorporation.›Section 10A-2A-10.0... | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 10 - Amendment of Certificate of Incorporation and Bylaws. › Division A - Amendment of Certificate of Incorporation. › Section 10A-2A-10.07 - Restated Certificate of Incorporation. | Section 10A-2A-10.07
Restated certificate of incorporation.
Division B of Article 3 of Chapter 1 shall not apply to this chapter. Instead:
(a) A corporation's board of directors may restate its certificate of incorporation at any time, without stockholder approval, to consolidate all amendments into a single document.
... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-10/division-a/section-10a-2a-10-08/ | 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 10 - Amendment of Certificate of Incorporation and Bylaws.›Division A - Amendment of Certificate of Incorporation.›Section 10A-2A-10.0... | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 10 - Amendment of Certificate of Incorporation and Bylaws. › Division A - Amendment of Certificate of Incorporation. › Section 10A-2A-10.08 - Amendment Pursuant to Reorganization. | Section 10A-2A-10.08
Amendment pursuant to reorganization.
Division B of Article 3 of Chapter 1 shall not apply to this chapter. Instead:
(a) A corporation's certificate of incorporation may be amended without action by the board of directors or stockholders to carry out a plan of reorganization ordered or decreed by a... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-10/division-a/section-10a-2a-10-09/ | 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 10 - Amendment of Certificate of Incorporation and Bylaws.›Division A - Amendment of Certificate of Incorporation.›Section 10A-2A-10.0... | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 10 - Amendment of Certificate of Incorporation and Bylaws. › Division A - Amendment of Certificate of Incorporation. › Section 10A-2A-10.09 - Effect of Amendment. | Section 10A-2A-10.09
Effect of amendment.
(a) An amendment to the certificate of incorporation does not affect a cause of action existing against or in favor of the corporation, a proceeding to which the corporation is a party, or the existing rights of persons other than the stockholders. An amendment changing a corpo... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-10/division-b/section-10a-2a-10-20/ | 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 10 - Amendment of Certificate of Incorporation and Bylaws.›Division B - Amendment of Bylaws.›Section 10A-2A-10.20 - Authority to Amend... | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 10 - Amendment of Certificate of Incorporation and Bylaws. › Division B - Amendment of Bylaws. › Section 10A-2A-10.20 - Authority to Amend. | Section 10A-2A-10.20
Authority to amend.
(a) A corporation's stockholders may amend or repeal the corporation's bylaws.
(b) A corporation's board of directors may amend or repeal the corporation's bylaws, unless:
(1) the certificate of incorporation, Section 10A-2A-10.21 or, if applicable, Section 10A-2A-10.22, reserve... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-10/division-b/section-10a-2a-10-21/ | 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 10 - Amendment of Certificate of Incorporation and Bylaws.›Division B - Amendment of Bylaws.›Section 10A-2A-10.21 - Bylaw Increasing Q... | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 10 - Amendment of Certificate of Incorporation and Bylaws. › Division B - Amendment of Bylaws. › Section 10A-2A-10.21 - Bylaw Increasing Quorum or Voting Requirement for Directors ... | Section 10A-2A-10.21
Bylaw increasing quorum or voting requirement for directors or requiring a meeting place.
(a) A bylaw that increases a quorum or voting requirement for the board of directors or that requires a meeting of stockholders to be held at a place may be amended or repealed:
(1) if originally adopted by th... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-10/division-b/section-10a-2a-10-22/ | 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 10 - Amendment of Certificate of Incorporation and Bylaws.›Division B - Amendment of Bylaws.›Section 10A-2A-10.22 - Bylaw Provisions R... | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 10 - Amendment of Certificate of Incorporation and Bylaws. › Division B - Amendment of Bylaws. › Section 10A-2A-10.22 - Bylaw Provisions Relating to the Election of Directors. This... | Section 10A-2A-10.22
Bylaw provisions relating to the election of directors.
(a) Unless the certificate of incorporation (i) specifically prohibits the adoption of a bylaw pursuant to this section, (ii) alters the vote specified in Section 10A-2A-7.28(a), or (iii) provides for cumulative voting, a corporation may elect... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-11/section-10a-2a-11-01/ | 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 11 - Mergers and Stock Exchanges.›Section 10A-2A-11.01 - Definitions. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 11 - Mergers and Stock Exchanges. › Section 10A-2A-11.01 - Definitions. | Section 10A-2A-11.01
Definitions.
As used in this article, unless the context otherwise requires, the following terms mean:
(1) ACQUIRED ENTITY means the corporation or foreign corporation that will have all of one or more classes or series of its stock acquired in a stock exchange.
(2) ACQUIRING ENTITY means the corpo... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-11/section-10a-2a-11-02/ | 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 11 - Mergers and Stock Exchanges.›Section 10A-2A-11.02 - Merger. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 11 - Mergers and Stock Exchanges. › Section 10A-2A-11.02 - Merger. | Section 10A-2A-11.02
Merger.
(a) A corporation may merge with one or more other constituent organizations pursuant to this article, and a plan of merger, if:
(1) the governing statute of each of the other organizations authorizes the merger;
(2) the merger is not prohibited by the law of a jurisdiction that enacted any... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-11/section-10a-2a-11-03/ | 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 11 - Mergers and Stock Exchanges.›Section 10A-2A-11.03 - Stock Exchange. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 11 - Mergers and Stock Exchanges. › Section 10A-2A-11.03 - Stock Exchange. | Section 10A-2A-11.03
Stock exchange.
(a) By complying with this Article 11:
(1) a corporation may acquire all of the stock of one or more classes or series of stock, of another corporation or foreign corporation, in exchange for stock or other securities, obligations, rights to acquire stock or other securities, cash, ... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-11/section-10a-2a-11-04/ | 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 11 - Mergers and Stock Exchanges.›Section 10A-2A-11.04 - Action on a Plan of Merger or Stock Exchange. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 11 - Mergers and Stock Exchanges. › Section 10A-2A-11.04 - Action on a Plan of Merger or Stock Exchange. | Section 10A-2A-11.04
Action on a plan of merger or stock exchange.
In the case of a corporation that is a constituent organization or the acquired entity in a stock exchange, the plan of merger or stock exchange shall be adopted in the following manner:
(a) The plan of merger or stock exchange shall first be adopted by... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-11/section-10a-2a-11-05/ | 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 11 - Mergers and Stock Exchanges.›Section 10A-2A-11.05 - Merger Between Parent and Subsidiary or Between Subsidiaries. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 11 - Mergers and Stock Exchanges. › Section 10A-2A-11.05 - Merger Between Parent and Subsidiary or Between Subsidiaries. | Section 10A-2A-11.05
Merger between parent and subsidiary or between subsidiaries.
(a) A domestic or foreign parent entity that owns stock of a corporation which carries at least 90 percent of the voting power of each class and series of the outstanding stock of that subsidiary corporation that has voting power may (i)... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-11/section-10a-2a-11-06/ | 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 11 - Mergers and Stock Exchanges.›Section 10A-2A-11.06 - Statement or Merger or Stock Exchange. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 11 - Mergers and Stock Exchanges. › Section 10A-2A-11.06 - Statement or Merger or Stock Exchange. | Section 10A-2A-11.06
Statement or merger or stock exchange.
(a) After a plan of merger has been adopted and approved as required by this article, then a statement of merger shall be signed by each party to the merger except as provided in Section 10A-2A-11.05(a). The statement of merger must set forth:
(1) the name, ty... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-11/section-10a-2a-11-07/ | 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 11 - Mergers and Stock Exchanges.›Section 10A-2A-11.07 - Effect of Merger or Stock Exchange. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 11 - Mergers and Stock Exchanges. › Section 10A-2A-11.07 - Effect of Merger or Stock Exchange. | Section 10A-2A-11.07
Effect of merger or stock exchange.
(a) When a merger becomes effective:
(1) the surviving organization continues or, in the case of a surviving organization created pursuant to the merger, comes into existence;
(2) each constituent organization that merges into the surviving organization ceases to... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-11/section-10a-2a-11-08/ | 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 11 - Mergers and Stock Exchanges.›Section 10A-2A-11.08 - Abandonment of a Merger or Stock Exchange. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 11 - Mergers and Stock Exchanges. › Section 10A-2A-11.08 - Abandonment of a Merger or Stock Exchange. | Section 10A-2A-11.08
Abandonment of a merger or stock exchange.
(a) After a plan of merger or stock exchange has been adopted and approved as required by this Article 11, and before the statement of merger or stock exchange has become effective, the plan may be abandoned by a corporation that is a party to the plan wit... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-11/section-10a-2a-11-09/ | 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 11 - Mergers and Stock Exchanges.›Section 10A-2A-11.09 - Nonexclusive. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 11 - Mergers and Stock Exchanges. › Section 10A-2A-11.09 - Nonexclusive. | Section 10A-2A-11.09
Nonexclusive.
This article is not exclusive. This article does not preclude a corporation from merging or exchanging its stock under law other than this chapter.
(Act 2019-94, §1.) |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-12/section-10a-2a-12-01/ | 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 12 - Disposition of Assets.›Section 10A-2A-12.01 - Disposition of Assets Not Requiring Stockholder Approval. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 12 - Disposition of Assets. › Section 10A-2A-12.01 - Disposition of Assets Not Requiring Stockholder Approval. | Section 10A-2A-12.01
Disposition of assets not requiring stockholder approval.
No approval of the stockholders is required, unless the certificate of incorporation otherwise provides:
(a) to sell, lease, exchange, or otherwise dispose of any or all of the corporation's assets in the usual and regular course of business... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-12/section-10a-2a-12-02/ | 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 12 - Disposition of Assets.›Section 10A-2A-12.02 - Stockholder Approval of Certain Dispositions. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 12 - Disposition of Assets. › Section 10A-2A-12.02 - Stockholder Approval of Certain Dispositions. | Section 10A-2A-12.02
Stockholder approval of certain dispositions.
(a) A sale, lease, exchange, or other disposition of assets, other than a disposition described in Section 10A-2A-12.01, requires approval of the corporation's stockholders if the disposition would leave the corporation without a significant continuing ... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-13/division-a/section-10a-2a-13-01/ | 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 13 - Appraisal Rights.›Division A - Right to Appraisal and Payment for Stock.›Section 10A-2A-13.01 - Definitions. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 13 - Appraisal Rights. › Division A - Right to Appraisal and Payment for Stock. › Section 10A-2A-13.01 - Definitions. | Section 10A-2A-13.01
Definitions.
In this Article 13:
(1) AFFILIATE means a person that directly or indirectly through one or more intermediaries controls, is controlled by, or is under common control with another person or is a senior executive of that person. For purposes of Section 10A-2A-13.02(b)(4), a person is de... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-13/division-a/section-10a-2a-13-02/ | 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 13 - Appraisal Rights.›Division A - Right to Appraisal and Payment for Stock.›Section 10A-2A-13.02 - Right to Appraisal. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 13 - Appraisal Rights. › Division A - Right to Appraisal and Payment for Stock. › Section 10A-2A-13.02 - Right to Appraisal. | Section 10A-2A-13.02
Right to appraisal.
(a) A stockholder is entitled to appraisal rights, and to obtain payment of the fair value of that stockholder's stock, in the event of any of the following corporate actions:
(1) consummation of a merger to which the corporation is a party (i) if the corporation is a subsidiary... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-13/division-a/section-10a-2a-13-03/ | 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 13 - Appraisal Rights.›Division A - Right to Appraisal and Payment for Stock.›Section 10A-2A-13.03 - Assertion of Rights by Nominees a... | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 13 - Appraisal Rights. › Division A - Right to Appraisal and Payment for Stock. › Section 10A-2A-13.03 - Assertion of Rights by Nominees and Beneficial Stockholders. | Section 10A-2A-13.03
Assertion of rights by nominees and beneficial stockholders.
(a) A record stockholder may assert appraisal rights as to fewer than all the shares of stock registered in the record stockholder's name but owned by a beneficial stockholder or a voting trust beneficial owner only if the record stockhol... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-13/division-b/section-10a-2a-13-20/ | 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 13 - Appraisal Rights.›Division B - Procedure for Exercise of Appraisal Rights.›Section 10A-2A-13.20 - Notice of Appraisal Rights. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 13 - Appraisal Rights. › Division B - Procedure for Exercise of Appraisal Rights. › Section 10A-2A-13.20 - Notice of Appraisal Rights. | Section 10A-2A-13.20
Notice of appraisal rights.
(a) Where any corporate action specified in Section 10A-2A-13.02(a) is to be submitted to a vote at a stockholders' meeting, the meeting notice (or where no approval of the corporate action is required pursuant to Section 10A-2A-11.04(j), the offer made pursuant to Secti... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-13/division-b/section-10a-2a-13-21/ | 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 13 - Appraisal Rights.›Division B - Procedure for Exercise of Appraisal Rights.›Section 10A-2A-13.21 - Notice of Intent to Demand Paym... | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 13 - Appraisal Rights. › Division B - Procedure for Exercise of Appraisal Rights. › Section 10A-2A-13.21 - Notice of Intent to Demand Payment and Consequences of Voting or Consenti... | Section 10A-2A-13.21
Notice of intent to demand payment and consequences of voting or consenting.
(a) If a corporate action specified in Section 10A-2A-13.02(a) is submitted to a vote at a stockholders' meeting, a stockholder who wishes to assert appraisal rights with respect to any class or series of stock:
(1) shall ... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-13/division-b/section-10a-2a-13-22/ | 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 13 - Appraisal Rights.›Division B - Procedure for Exercise of Appraisal Rights.›Section 10A-2A-13.22 - Appraisal Notice and Form. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 13 - Appraisal Rights. › Division B - Procedure for Exercise of Appraisal Rights. › Section 10A-2A-13.22 - Appraisal Notice and Form. | Section 10A-2A-13.22
Appraisal notice and form.
(a) If a corporate action requiring appraisal rights under Section 10A-2A-13.02(a) becomes effective, the corporation shall deliver a written appraisal notice and form required by subsection (b) to all stockholders who satisfy the requirements of Section 10A-2A-13.21(a), ... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-13/division-b/section-10a-2a-13-23/ | 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 13 - Appraisal Rights.›Division B - Procedure for Exercise of Appraisal Rights.›Section 10A-2A-13.23 - Perfection of Rights; Right to ... | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 13 - Appraisal Rights. › Division B - Procedure for Exercise of Appraisal Rights. › Section 10A-2A-13.23 - Perfection of Rights; Right to Withdraw. | Section 10A-2A-13.23
Perfection of rights; right to withdraw.
(a) A stockholder who receives notice pursuant to Section 10A-2A-13.22 and who wishes to exercise appraisal rights shall sign and return the form sent by the corporation and, in the case of certificated stock, deposit the stockholder's certificates in accord... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-13/division-b/section-10a-2a-13-24/ | 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 13 - Appraisal Rights.›Division B - Procedure for Exercise of Appraisal Rights.›Section 10A-2A-13.24 - Payment. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 13 - Appraisal Rights. › Division B - Procedure for Exercise of Appraisal Rights. › Section 10A-2A-13.24 - Payment. | Section 10A-2A-13.24
Payment.
(a) Except as provided in Section 10A-2A-13.25, within 30 days after the form required by Section 10A-2A-13.22(b)(2)(ii) is due, the corporation shall pay in cash to those stockholders who complied with Section 10A-2A-13.23(a) the amount the corporation estimates to be the fair value of th... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-13/division-b/section-10a-2a-13-25/ | 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 13 - Appraisal Rights.›Division B - Procedure for Exercise of Appraisal Rights.›Section 10A-2A-13.25 - After-Acquired Stock. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 13 - Appraisal Rights. › Division B - Procedure for Exercise of Appraisal Rights. › Section 10A-2A-13.25 - After-Acquired Stock. | Section 10A-2A-13.25
After-acquired stock.
(a) A corporation may elect to withhold payment required by Section 10A-2A-13.24 from any stockholder who was required to, but did not certify that beneficial ownership of all of the stockholder's stock for which appraisal rights are asserted was acquired before the date set f... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-13/division-b/section-10a-2a-13-26/ | 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 13 - Appraisal Rights.›Division B - Procedure for Exercise of Appraisal Rights.›Section 10A-2A-13.26 - Procedure if Stockholder Dissat... | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 13 - Appraisal Rights. › Division B - Procedure for Exercise of Appraisal Rights. › Section 10A-2A-13.26 - Procedure if Stockholder Dissatisfied With Payment or Offer. | Section 10A-2A-13.26
Procedure if stockholder dissatisfied with payment or offer.
(a) A stockholder paid pursuant to Section 10A-2A-13.24 who is dissatisfied with the amount of the payment shall notify the corporation in writing of that stockholder's estimate of the fair value of the stock and demand payment of that es... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-13/division-c/section-10a-2a-13-30/ | 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 13 - Appraisal Rights.›Division C - Judicial Appraisal of Stock.›Section 10A-2A-13.30 - Court Action. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 13 - Appraisal Rights. › Division C - Judicial Appraisal of Stock. › Section 10A-2A-13.30 - Court Action. | Section 10A-2A-13.30
Court action.
(a) If a stockholder makes demand for payment under Section 10A-2A-13.26 which remains unsettled, the corporation shall commence a proceeding within 60 days after receiving the payment demand and petition the court to determine the fair value of the stock and accrued interest. If the ... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-13/division-c/section-10a-2a-13-31/ | 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 13 - Appraisal Rights.›Division C - Judicial Appraisal of Stock.›Section 10A-2A-13.31 - Court Costs and Expenses. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 13 - Appraisal Rights. › Division C - Judicial Appraisal of Stock. › Section 10A-2A-13.31 - Court Costs and Expenses. | Section 10A-2A-13.31
Court costs and expenses.
(a) The court in an appraisal proceeding commenced under Section 10A-2A-13.30 shall determine all court costs of the proceeding, including the reasonable compensation and expenses of appraisers appointed by the court. The court shall assess the court costs against the corp... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-13/division-d/section-10a-2a-13-40/ | 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 13 - Appraisal Rights.›Division D - Other Remedies.›Section 10A-2A-13.40 - Other Remedies Limited. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 13 - Appraisal Rights. › Division D - Other Remedies. › Section 10A-2A-13.40 - Other Remedies Limited. | Section 10A-2A-13.40
Other remedies limited.
(a) The legality of a proposed or completed corporate action described in Section 10A-2A-13.02(a) may not be contested, nor may the corporate action be enjoined, set aside or rescinded, in a legal or equitable proceeding by a stockholder after the stockholders have approved ... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-14/division-a/section-10a-2a-14-01/ | 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 14 - Dissolution.›Division A - Voluntary Dissolution.›Section 10A-2A-14.01 - Dissolution by Incorporators or Initial Directors. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 14 - Dissolution. › Division A - Voluntary Dissolution. › Section 10A-2A-14.01 - Dissolution by Incorporators or Initial Directors. | Section 10A-2A-14.01
Dissolution by incorporators or initial directors.
A majority of the incorporators or initial directors of a corporation that has not issued stock or has not commenced business may dissolve the corporation by delivering to the Secretary of State for filing a certificate of dissolution that sets for... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-14/division-a/section-10a-2a-14-02/ | 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 14 - Dissolution.›Division A - Voluntary Dissolution.›Section 10A-2A-14.02 - Dissolution by Board of Directors and Stockholders. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 14 - Dissolution. › Division A - Voluntary Dissolution. › Section 10A-2A-14.02 - Dissolution by Board of Directors and Stockholders. | Section 10A-2A-14.02
Dissolution by board of directors and stockholders.
(a) The board of directors may propose dissolution for submission to the stockholders by first adopting a resolution authorizing the dissolution.
(b) For a proposal to dissolve to be adopted, it shall then be approved by the stockholders. In submi... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-14/division-a/section-10a-2a-14-03/ | 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 14 - Dissolution.›Division A - Voluntary Dissolution.›Section 10A-2A-14.03 - Certificate of Dissolution. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 14 - Dissolution. › Division A - Voluntary Dissolution. › Section 10A-2A-14.03 - Certificate of Dissolution. | Section 10A-2A-14.03
Certificate of dissolution.
(a) At any time after dissolution is authorized, the corporation may dissolve by delivering to the Secretary of State for filing a certificate of dissolution setting forth:
(1) the name of the corporation;
(2) the date that dissolution was authorized;
(3) if dissolution ... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-14/division-a/section-10a-2a-14-04/ | 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 14 - Dissolution.›Division A - Voluntary Dissolution.›Section 10A-2A-14.04 - Revocation of Dissolution; Reinstatement. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 14 - Dissolution. › Division A - Voluntary Dissolution. › Section 10A-2A-14.04 - Revocation of Dissolution; Reinstatement. | Section 10A-2A-14.04
Revocation of dissolution; reinstatement.
(a) A corporation may revoke its dissolution within 120 days after its effective date and be reinstated.
(b) Revocation of dissolution and reinstatement shall be authorized in the same manner as the dissolution was authorized unless that authorization permi... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-14/division-a/section-10a-2a-14-05/ | 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 14 - Dissolution.›Division A - Voluntary Dissolution.›Section 10A-2A-14.05 - Effect of Dissolution. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 14 - Dissolution. › Division A - Voluntary Dissolution. › Section 10A-2A-14.05 - Effect of Dissolution. | Section 10A-2A-14.05
Effect of dissolution.
(a) A dissolved corporation continues its existence as a corporation but may not carry on any business except as is appropriate to wind up and liquidate its business and affairs, including:
(1) collecting its assets;
(2) disposing of its properties that will not be distribute... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-14/division-a/section-10a-2a-14-06/ | 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 14 - Dissolution.›Division A - Voluntary Dissolution.›Section 10A-2A-14.06 - Known Claims Against Dissolved Corporation. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 14 - Dissolution. › Division A - Voluntary Dissolution. › Section 10A-2A-14.06 - Known Claims Against Dissolved Corporation. | Section 10A-2A-14.06
Known claims against dissolved corporation.
(a) A dissolved corporation may dispose of any known claims against it by following the procedures described in subsection (b) at any time after the effective date of the dissolution of the corporation.
(b) A dissolved corporation may give written notice ... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-14/division-a/section-10a-2a-14-07/ | 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 14 - Dissolution.›Division A - Voluntary Dissolution.›Section 10A-2A-14.07 - Other Claims Against Dissolved Corporation. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 14 - Dissolution. › Division A - Voluntary Dissolution. › Section 10A-2A-14.07 - Other Claims Against Dissolved Corporation. | Section 10A-2A-14.07
Other claims against dissolved corporation.
(a) A dissolved corporation may publish notice of its dissolution and request that persons with claims against the dissolved corporation present them in accordance with the notice.
(b) The notice authorized by subsection (a) must:
(1) be published at leas... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-14/division-a/section-10a-2a-14-08/ | 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 14 - Dissolution.›Division A - Voluntary Dissolution.›Section 10A-2A-14.08 - Director Duties. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 14 - Dissolution. › Division A - Voluntary Dissolution. › Section 10A-2A-14.08 - Director Duties. | Section 10A-2A-14.08
Director duties.
(a) Directors shall cause the dissolved corporation to discharge or make reasonable provision for the payment of claims and make distributions in liquidation of assets to stockholders after payment or provision for claims.
(b) Directors of a dissolved corporation which has disposed... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-14/division-b/section-10a-2a-14-10/ | 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 14 - Dissolution.›Division B - Judicial Dissolution.›Section 10A-2A-14.10 - Grounds for Judicial Dissolution. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 14 - Dissolution. › Division B - Judicial Dissolution. › Section 10A-2A-14.10 - Grounds for Judicial Dissolution. | Section 10A-2A-14.10
Grounds for judicial dissolution.
(a) 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 dissolve a corporation:
(1... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-14/division-b/section-10a-2a-14-11/ | 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 14 - Dissolution.›Division B - Judicial Dissolution.›Section 10A-2A-14.11 - Procedure for Judicial Dissolution. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 14 - Dissolution. › Division B - Judicial Dissolution. › Section 10A-2A-14.11 - Procedure for Judicial Dissolution. | Section 10A-2A-14.11
Procedure for judicial dissolution.
(a) Venue for a proceeding by the attorney general to dissolve a corporation lies in circuit court for the county in which the corporation's principal office is located in this state, and if none in this state, in the circuit court for the county in which the cor... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-14/division-b/section-10a-2a-14-12/ | 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 14 - Dissolution.›Division B - Judicial Dissolution.›Section 10A-2A-14.12 - Receivership or Custodianship. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 14 - Dissolution. › Division B - Judicial Dissolution. › Section 10A-2A-14.12 - Receivership or Custodianship. | Section 10A-2A-14.12
Receivership or custodianship.
(a) Unless an election to purchase has been filed under Section 10A-2A-14.14, a court in a judicial proceeding brought to dissolve a corporation may appoint one or more receivers to wind up and liquidate, or one or more custodians to manage, the business and affairs o... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-14/division-b/section-10a-2a-14-13/ | 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 14 - Dissolution.›Division B - Judicial Dissolution.›Section 10A-2A-14.13 - Decree of Dissolution. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 14 - Dissolution. › Division B - Judicial Dissolution. › Section 10A-2A-14.13 - Decree of Dissolution. | Section 10A-2A-14.13
Decree of dissolution.
(a) If after a hearing the court determines that one or more grounds for judicial dissolution described in Section 10A-2A-14.10 exist, it may enter a decree dissolving the corporation and specifying the effective date of the dissolution, and the clerk of the court shall deliv... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-14/division-b/section-10a-2a-14-14/ | 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 14 - Dissolution.›Division B - Judicial Dissolution.›Section 10A-2A-14.14 - Election to Purchase in Lieu of Dissolution. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 14 - Dissolution. › Division B - Judicial Dissolution. › Section 10A-2A-14.14 - Election to Purchase in Lieu of Dissolution. | Section 10A-2A-14.14
Election to purchase in lieu of dissolution.
(a) In a proceeding under Section 10A-2A-14.10(a)(2) to dissolve a corporation, the corporation may elect or, if it fails to elect, one or more stockholders may elect to purchase all stock owned by the petitioning stockholder at the fair value of the sto... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-14/division-c/section-10a-2a-14-20/ | 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 14 - Dissolution.›Division C - Miscellaneous.›Section 10A-2A-14.20 - Deposit With State Treasurer. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 14 - Dissolution. › Division C - Miscellaneous. › Section 10A-2A-14.20 - Deposit With State Treasurer. | Section 10A-2A-14.20
Deposit with State Treasurer.
Assets of a dissolved corporation that should be transferred to a creditor, claimant, or stockholder of the corporation who cannot be found or who is not competent to receive them shall be reduced to cash and deposited with the State Treasurer or other appropriate stat... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-15/division-a/section-10a-2a-15-01/ | 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 15 - Foreign Corporations.›Division A - Governing Law.›Section 10A-2A-15.01 - Governing Law. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 15 - Foreign Corporations. › Division A - Governing Law. › Section 10A-2A-15.01 - Governing Law. | Section 10A-2A-15.01
Governing law.
(a) The law of the jurisdiction of formation of a foreign corporation governs:
(1) the incorporation and internal affairs of the foreign corporation;
(2) the liability of its stockholders as stockholders for the debts, obligations, or other liabilities of the foreign corporation; and... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-15/division-b/section-10a-2a-15-10/ | 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 15 - Foreign Corporations.›Division B - Acting in a Fiduciary Capacity.›Section 10A-2A-15.10 - Definitions. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 15 - Foreign Corporations. › Division B - Acting in a Fiduciary Capacity. › Section 10A-2A-15.10 - Definitions. | Section 10A-2A-15.10
Definitions.
The term "foreign corporation," as used in this division, shall mean:
(1) Any bank or other corporation now or hereafter organized or existing under the laws of any state of the United States other than this state; and
(2) Any national banking association or other corporation organized... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-15/division-b/section-10a-2a-15-11/ | 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 15 - Foreign Corporations.›Division B - Acting in a Fiduciary Capacity.›Section 10A-2A-15.11 - Authority of Foreign Corporation to Act... | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 15 - Foreign Corporations. › Division B - Acting in a Fiduciary Capacity. › Section 10A-2A-15.11 - Authority of Foreign Corporation to Act as Fiduciary. | Section 10A-2A-15.11
Authority of foreign corporation to act as fiduciary.
(a) Any foreign corporation may act in this state as trustee, personal representative, executor, administrator of any kind, guardian, conservator, or in any other like or similar fiduciary capacity, whether the appointment is by law, will, deed,... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-15/division-b/section-10a-2a-15-12/ | 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 15 - Foreign Corporations.›Division B - Acting in a Fiduciary Capacity.›Section 10A-2A-15.12 - Filing of Verified Statement With Commi... | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 15 - Foreign Corporations. › Division B - Acting in a Fiduciary Capacity. › Section 10A-2A-15.12 - Filing of Verified Statement With Commissioner of Revenue by Foreign Corporation ... | Section 10A-2A-15.12
Filing of verified statement with Commissioner of Revenue by foreign corporation prior to acting as fiduciary.
Prior to the time when any foreign corporation acts pursuant to the authority of this article in any fiduciary capacity or capacities in this state, the foreign corporation shall file with... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-15/division-b/section-10a-2a-15-13/ | 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 15 - Foreign Corporations.›Division B - Acting in a Fiduciary Capacity.›Section 10A-2A-15.13 - Foreign Corporation Acting as Fiduciary... | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 15 - Foreign Corporations. › Division B - Acting in a Fiduciary Capacity. › Section 10A-2A-15.13 - Foreign Corporation Acting as Fiduciary Not Deemed Doing Business in This State. | Section 10A-2A-15.13
Foreign corporation acting as fiduciary not deemed doing business in this state.
A foreign corporation, insofar as it acts in a fiduciary capacity in this state pursuant to the provisions of this division, shall not be deemed to be transacting business in this state, but no foreign corporation acti... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-15/division-b/section-10a-2a-15-14/ | 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 15 - Foreign Corporations.›Division B - Acting in a Fiduciary Capacity.›Section 10A-2A-15.14 - Foreign Corporation Previously Acting i... | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 15 - Foreign Corporations. › Division B - Acting in a Fiduciary Capacity. › Section 10A-2A-15.14 - Foreign Corporation Previously Acting in Fiduciary Capacity in State. | Section 10A-2A-15.14
Foreign corporation previously acting in fiduciary capacity in state.
The provisions of this division shall not prohibit any foreign corporation authorized to act in a fiduciary capacity or capacities in the state in which it is incorporated or any national banking association or other corporation ... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-15/division-b/section-10a-2a-15-15/ | 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 15 - Foreign Corporations.›Division B - Acting in a Fiduciary Capacity.›Section 10A-2A-15.15 - Service of Process on Foreign Corporati... | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 15 - Foreign Corporations. › Division B - Acting in a Fiduciary Capacity. › Section 10A-2A-15.15 - Service of Process on Foreign Corporation Acting in Fiduciary Capacity. | Section 10A-2A-15.15
Service of process on foreign corporation acting in fiduciary capacity.
Every foreign corporation acting in a fiduciary capacity in this state pursuant to the terms of this division shall be deemed to consent to service of all legal process in any action or proceeding against it and to service of a... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-16/division-a/section-10a-2a-16-01/ | 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 16 - Records and Reports.›Division A - Records.›Section 10A-2A-16.01 - Corporate Records. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 16 - Records and Reports. › Division A - Records. › Section 10A-2A-16.01 - Corporate Records. | Section 10A-2A-16.01
Corporate records.
(a) A corporation shall maintain the following records:
(1) its certificate of incorporation as currently in effect;
(2) any notices to stockholders referred to in Section 10A-2A-1.20(c)(5) specifying facts on which a filed document is dependent if those facts are not included in... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-16/division-a/section-10a-2a-16-02/ | 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 16 - Records and Reports.›Division A - Records.›Section 10A-2A-16.02 - Inspection Rights of Stockholders. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 16 - Records and Reports. › Division A - Records. › Section 10A-2A-16.02 - Inspection Rights of Stockholders. | Section 10A-2A-16.02
Inspection rights of stockholders.
(a) A stockholder of a corporation is entitled to inspect and copy, during regular business hours at the corporation's principal office, any of the records of the corporation described in Section 10A-2A-16.01(a), excluding minutes of meetings of, and records of ac... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-16/division-a/section-10a-2a-16-03/ | 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 16 - Records and Reports.›Division A - Records.›Section 10A-2A-16.03 - Scope of Inspection Right. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 16 - Records and Reports. › Division A - Records. › Section 10A-2A-16.03 - Scope of Inspection Right. | Section 10A-2A-16.03
Scope of inspection right.
(a) A stockholder may appoint an agent or attorney to exercise the stockholder's inspection and copying rights under Section 10A-2A-16.02.
(b) The corporation may, if reasonable, satisfy the right of a stockholder to copy records under Section 10A-2A-16.02 by furnishing t... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-16/division-a/section-10a-2a-16-04/ | 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 16 - Records and Reports.›Division A - Records.›Section 10A-2A-16.04 - Court-Ordered Inspection. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 16 - Records and Reports. › Division A - Records. › Section 10A-2A-16.04 - Court-Ordered Inspection. | Section 10A-2A-16.04
Court-ordered inspection.
(a) If a corporation does not allow a stockholder who complies with Section 10A-2A-16.02(a) to inspect and copy any records required by that section to be available for inspection, the designated court, and if none, the circuit court for the county in which the corporation... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-16/division-a/section-10a-2a-16-05/ | 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 16 - Records and Reports.›Division A - Records.›Section 10A-2A-16.05 - Inspection Rights of Directors. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 16 - Records and Reports. › Division A - Records. › Section 10A-2A-16.05 - Inspection Rights of Directors. | Section 10A-2A-16.05
Inspection rights of directors.
(a) A director of a corporation is entitled to inspect and copy the books, records, and documents of the corporation at any reasonable time to the extent reasonably related to the performance of the director's duties as a director, including duties as a member of a b... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-16/division-b/section-10a-2a-16-10/ | 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 16 - Records and Reports.›Division B - Reports.›Section 10A-2A-16.10 | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 16 - Records and Reports. › Division B - Reports. › Section 10A-2A-16.10 | Section 10A-2A-16.10
Financial statements for stockholders.
(a) Upon the written request of a stockholder, a corporation shall deliver or make available to the requesting stockholder by posting on its website or by other generally recognized means annual financial statements for the most recent fiscal year of the corpo... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-16/division-b/section-10a-2a-16-11/ | 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 16 - Records and Reports.›Division B - Reports.›Section 10A-2A-16.11 - Annual Report for Secretary of State. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 16 - Records and Reports. › Division B - Reports. › Section 10A-2A-16.11 - Annual Report for Secretary of State. | Section 10A-2A-16.11
Annual report for Secretary of State.
(a) Each corporation, and each foreign corporation authorized to transact business in this state, shall deliver to the Secretary of State for filing an annual report that sets forth:
(1) The name of the corporation and the state or other jurisdiction under whos... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-17/section-10a-2a-17-01/ | 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 17 - Benefit Corporations.›Section 10A-2A-17.01 - Application of Article 17; Definitions. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 17 - Benefit Corporations. › Section 10A-2A-17.01 - Application of Article 17; Definitions. | Section 10A-2A-17.01
Application of Article 17; definitions.
(a) A corporation electing to become a benefit corporation under this article in the manner prescribed in this article is subject in all respects to the provisions of this chapter, except to the extent this article imposes additional or different requirements... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-17/section-10a-2a-17-02/ | 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 17 - Benefit Corporations.›Section 10A-2A-17.02 - Name; Stock Certificates. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 17 - Benefit Corporations. › Section 10A-2A-17.02 - Name; Stock Certificates. | Section 10A-2A-17.02
Name; stock certificates.
(a) The name of a benefit corporation must comply with Section 10A-1-5.04(e).
(b) Any stock certificate issued by a benefit corporation, and any information statement delivered by a benefit corporation pursuant to Section 10A-2A-6.26(b), must note conspicuously that the co... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-17/section-10a-2a-17-03/ | 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 17 - Benefit Corporations.›Section 10A-2A-17.03 - Certain Amendments and Transactions; Votes Required. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 17 - Benefit Corporations. › Section 10A-2A-17.03 - Certain Amendments and Transactions; Votes Required. | Section 10A-2A-17.03
Certain amendments and transactions; votes required.
(a) Unless the certificate of incorporation requires a greater vote, in addition to any other approval of stockholders required under this chapter, the approval of at least two-thirds of the votes entitled to be cast thereon, and, if any class or... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-17/section-10a-2a-17-04/ | 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 17 - Benefit Corporations.›Section 10A-2A-17.04 - Duties of Directors. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 17 - Benefit Corporations. › Section 10A-2A-17.04 - Duties of Directors. | Section 10A-2A-17.04
Duties of directors.
(a) Each member of the board of directors of a benefit corporation, when discharging the duties of a director, shall act: (i) in a responsible and sustainable manner, and (ii) in a manner that pursues the public benefit or benefits identified in any public benefit provision.
(b... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-17/section-10a-2a-17-05/ | 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 17 - Benefit Corporations.›Section 10A-2A-17.05 - Annual Benefit Report. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 17 - Benefit Corporations. › Section 10A-2A-17.05 - Annual Benefit Report. | Section 10A-2A-17.05
Annual benefit report.
(a) No less than annually, a benefit corporation shall prepare a benefit report addressing the efforts of the corporation during the preceding year to operate in a responsible and sustainable manner, to pursue any public benefit or benefits identified in any public benefit pr... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-17/section-10a-2a-17-06/ | 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 17 - Benefit Corporations.›Section 10A-2A-17.06 - Rights of Action. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 17 - Benefit Corporations. › Section 10A-2A-17.06 - Rights of Action. | Section 10A-2A-17.06
Rights of action.
(a) Except in a proceeding authorized under Section 10A-2A-17.05(c) or this section, no person other than the corporation, or a stockholder in the right of the corporation pursuant to subsection (b), may bring an action or assert a claim with respect to the violation of any duty a... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-18/section-10a-2a-18-01/ | 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 18 - Transition Provisions.›Section 10A-2A-18.01 - Application to Existing Corporations. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 18 - Transition Provisions. › Section 10A-2A-18.01 - Application to Existing Corporations. | Section 10A-2A-18.01
Application to existing corporations.
(a) Before January 1, 2021, this chapter governs only:
(1) a corporation incorporated on or after January 1, 2020; and
(2) a corporation incorporated before January 1, 2020, which elects, by amending or restating that corporation's certificate of incorporation,... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-18/section-10a-2a-18-02/ | 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 18 - Transition Provisions.›Section 10A-2A-18.02 - Application to Existing Foreign Corporations. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 18 - Transition Provisions. › Section 10A-2A-18.02 - Application to Existing Foreign Corporations. | Section 10A-2A-18.02
Application to existing foreign corporations.
A foreign corporation registered or authorized to transact business in this state on January 1, 2020, is subject to this chapter and is deemed to be registered to transact business in this state, and is not required to renew its registration to transact... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-18/section-10a-2a-18-03/ | 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 18 - Transition Provisions.›Section 10A-2A-18.03 - Saving Provisions. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 18 - Transition Provisions. › Section 10A-2A-18.03 - Saving Provisions. | Section 10A-2A-18.03
Saving provisions.
(a) Except as provided in subsection (b), the repeal of a statute by this chapter does not affect:
(1) the operation of the statute or any action taken under it before its repeal;
(2) any ratification, right, remedy, privilege, obligation, or liability acquired, accrued, or incur... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-18/section-10a-2a-18-04/ | 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 18 - Transition Provisions.›Section 10A-2A-18.04 - Severability. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 18 - Transition Provisions. › Section 10A-2A-18.04 - Severability. | Section 10A-2A-18.04
Severability.
If any provision of this chapter or its application to any person or circumstance is held invalid by a court of competent jurisdiction, the invalidity does not affect other provisions or applications of this chapter that can be given effect without the invalid provision or application... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-18/section-10a-2a-18-05/ | 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 18 - Transition Provisions.›Section 10A-2A-18.05 - Relation to Electronic Signatures in Global and National Commerce Act. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 18 - Transition Provisions. › Section 10A-2A-18.05 - Relation to Electronic Signatures in Global and National Commerce Act. | Section 10A-2A-18.05
Relation to Electronic Signatures in Global and National Commerce Act.
This chapter modifies, limits, and supersedes the federal Electronic Signatures in Global and National Commerce Act, 15 U.S.C. Section 7001 et seq., but does not modify, limit, or supersede Section 101(c) of that act, 15 U.S.C. ... |
https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-18/section-10a-2a-18-06/ | 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 18 - Transition Provisions.›Section 10A-2A-18.06 - Interstate Application. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 2A - Alabama Business Corporation Law. › Article 18 - Transition Provisions. › Section 10A-2A-18.06 - Interstate Application. | Section 10A-2A-18.06
Interstate application.
A corporation formed and existing under this chapter may conduct its business and affairs, carry on its operations, and have and exercise the powers granted by this chapter in any state, foreign country, or other jurisdiction.
(Act 2019-94, §1; §10A-2A-17.06; renumbered by A... |
https://law.justia.com/codes/alabama/title-10a/chapter-3/article-1/section-10a-3-1-01/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 3 - Nonprofit Corporations.›Article 1 - General Provisions.›Section 10A-3-1.01 - Short Title. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 3 - Nonprofit Corporations. › Article 1 - General Provisions. › Section 10A-3-1.01 - Short Title. | Section 10A-3-1.01
Short title.
This chapter and the provisions of Chapter 1 to the extent applicable to nonprofit corporations may be cited as the "Alabama Nonprofit Corporation Law."
(Acts 1984, No. 84-290, p. 502, §1; §10-3A-1; amended and renumbered by Act 2009-513, p. 967, §168.) |
https://law.justia.com/codes/alabama/title-10a/chapter-3/article-1/section-10a-3-1-02/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 3 - Nonprofit Corporations.›Article 1 - General Provisions.›Section 10A-3-1.02 - Definitions. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 3 - Nonprofit Corporations. › Article 1 - General Provisions. › Section 10A-3-1.02 - Definitions. | Section 10A-3-1.02
Definitions.
As used in this chapter, the following terms shall have the following meanings, respectively, unless the context otherwise requires:
(1) ARTICLES OF INCORPORATION. The original or restated articles of incorporation or articles of consolidation and all amendments thereto, including articl... |
https://law.justia.com/codes/alabama/title-10a/chapter-3/article-1/section-10a-3-1-03/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 3 - Nonprofit Corporations.›Article 1 - General Provisions.›Section 10A-3-1.03 - Applicability. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 3 - Nonprofit Corporations. › Article 1 - General Provisions. › Section 10A-3-1.03 - Applicability. | Section 10A-3-1.03
Applicability.
(a) The provisions of this chapter relating to domestic nonprofit corporations shall apply to:
(1) All nonprofit corporations organized hereunder; and
(2) All nonprofit corporations heretofore organized under any act hereby or heretofore repealed, for a purpose or purposes for which a ... |
https://law.justia.com/codes/alabama/title-10a/chapter-3/article-1/section-10a-3-1-04/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 3 - Nonprofit Corporations.›Article 1 - General Provisions.›Section 10A-3-1.04 - Purposes. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 3 - Nonprofit Corporations. › Article 1 - General Provisions. › Section 10A-3-1.04 - Purposes. | Section 10A-3-1.04
Purposes.
(a) Nonprofit corporations may be organized under this chapter for any lawful purpose or purposes, including, without being limited to, any one or more of the following purposes:
(1) Charitable,
(2) Benevolent,
(3) Eleemosynary,
(4) Educational,
(5) Civic,
(6) Patriotic,
(7) Political,
(8) ... |
https://law.justia.com/codes/alabama/title-10a/chapter-3/article-1/section-10a-3-1-05/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 3 - Nonprofit Corporations.›Article 1 - General Provisions.›Section 10A-3-1.05 - This Section Was Assigned by the Code Commissioner in the 2021 Regular Session,... | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 3 - Nonprofit Corporations. › Article 1 - General Provisions. › Section 10A-3-1.05 - This Section Was Assigned by the Code Commissioner in the 2021 Regular Session, Effective January 1, 2022. This Is Not in the Current Code Suppl... | Section 10A-3-1.05
Notice or other communication.
(a) A notice under this chapter must be in writing unless oral notice is reasonable in the circumstances. Unless otherwise agreed between the sender and the recipient, words in a notice or other communication under this chapter must be in English.
(b) A notice or other ... |
https://law.justia.com/codes/alabama/title-10a/chapter-3/article-2/division-a/section-10a-3-2-01/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 3 - Nonprofit Corporations.›Article 2 - Substantive Provisions.›Division A - Members and Directors.›Section 10A-3-2.01 - Members. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 3 - Nonprofit Corporations. › Article 2 - Substantive Provisions. › Division A - Members and Directors. › Section 10A-3-2.01 - Members. | Section 10A-3-2.01
Members.
(a) A nonprofit corporation may have one or more classes of members or may have no members. If the nonprofit corporation has one or more classes of members, the designation of the class or classes, the manner of election or appointment and the qualifications and rights of the members of each... |
https://law.justia.com/codes/alabama/title-10a/chapter-3/article-2/division-a/section-10a-3-2-02/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 3 - Nonprofit Corporations.›Article 2 - Substantive Provisions.›Division A - Members and Directors.›Section 10A-3-2.02 - Meetings of Members, Remote Communication. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 3 - Nonprofit Corporations. › Article 2 - Substantive Provisions. › Division A - Members and Directors. › Section 10A-3-2.02 - Meetings of Members, Remote Communication. | Section 10A-3-2.02
Meetings of members, remote communication.
(a) Unless the board of directors determines to hold the meeting of the members solely by means of remote communication in accordance with subsections (d), (e), and (f), meetings of members may be held at the place, either within or without Alabama, as may b... |
https://law.justia.com/codes/alabama/title-10a/chapter-3/article-2/division-a/section-10a-3-2-03/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 3 - Nonprofit Corporations.›Article 2 - Substantive Provisions.›Division A - Members and Directors.›Section 10A-3-2.03 - Notice of Members' Meetings. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 3 - Nonprofit Corporations. › Article 2 - Substantive Provisions. › Division A - Members and Directors. › Section 10A-3-2.03 - Notice of Members' Meetings. | Section 10A-3-2.03
Notice of members' meetings.
THIS SECTION WAS AMENDED BY ACT 2021-299 IN THE 2021 REGULAR SESSION, EFFECTIVE JANUARY 1, 2022. TO SEE THE AMENDED VERSION, SEE THE VERSION LABELED PENDING.
Unless otherwise provided in the nonprofit corporation's governing documents, written notice stating the place, da... |
https://law.justia.com/codes/alabama/title-10a/chapter-3/article-2/division-a/section-10a-3-2-04/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 3 - Nonprofit Corporations.›Article 2 - Substantive Provisions.›Division A - Members and Directors.›Section 10A-3-2.04 - Waiver of Notice. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 3 - Nonprofit Corporations. › Article 2 - Substantive Provisions. › Division A - Members and Directors. › Section 10A-3-2.04 - Waiver of Notice. | Section 10A-3-2.04
Waiver of notice.
Whenever any notice is required to be given to any member or director of a corporation under the provisions of this title or this chapter or under the provisions of the nonprofit corporation's governing documents, a waiver thereof in writing signed by the person or persons entitled ... |
https://law.justia.com/codes/alabama/title-10a/chapter-3/article-2/division-a/section-10a-3-2-05/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 3 - Nonprofit Corporations.›Article 2 - Substantive Provisions.›Division A - Members and Directors.›Section 10A-3-2.05 - Voting of Members. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 3 - Nonprofit Corporations. › Article 2 - Substantive Provisions. › Division A - Members and Directors. › Section 10A-3-2.05 - Voting of Members. | Section 10A-3-2.05
Voting of members.
(a) The right of the members, or any class or classes of members, to vote may be limited, enlarged or denied to the extent specified in the nonprofit corporation's governing documents. Unless so limited, enlarged or denied, each member, regardless of class, shall be entitled to one... |
https://law.justia.com/codes/alabama/title-10a/chapter-3/article-2/division-a/section-10a-3-2-06/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 3 - Nonprofit Corporations.›Article 2 - Substantive Provisions.›Division A - Members and Directors.›Section 10A-3-2.06 - Quorum of Members. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 3 - Nonprofit Corporations. › Article 2 - Substantive Provisions. › Division A - Members and Directors. › Section 10A-3-2.06 - Quorum of Members. | Section 10A-3-2.06
Quorum of members.
The bylaws may provide the number or percentage of members entitled to vote represented in person or by proxy, or the number or percentage of votes represented in person or by proxy, which shall constitute a quorum at a meeting of members. In the absence of any provision, members h... |
https://law.justia.com/codes/alabama/title-10a/chapter-3/article-2/division-a/section-10a-3-2-07/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 3 - Nonprofit Corporations.›Article 2 - Substantive Provisions.›Division A - Members and Directors.›Section 10A-3-2.07 - Greater Voting Requirements. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 3 - Nonprofit Corporations. › Article 2 - Substantive Provisions. › Division A - Members and Directors. › Section 10A-3-2.07 - Greater Voting Requirements. | Section 10A-3-2.07
Greater voting requirements.
Whenever, with respect to any action to be taken by the members or directors of a nonprofit corporation, the governing documents of the nonprofit corporation require the vote or concurrence of a greater proportion of the directors or members or any class of members than r... |
https://law.justia.com/codes/alabama/title-10a/chapter-3/article-2/division-a/section-10a-3-2-08/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 3 - Nonprofit Corporations.›Article 2 - Substantive Provisions.›Division A - Members and Directors.›Section 10A-3-2.08 - Governing Authority; Board of Directors. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 3 - Nonprofit Corporations. › Article 2 - Substantive Provisions. › Division A - Members and Directors. › Section 10A-3-2.08 - Governing Authority; Board of Directors. | Section 10A-3-2.08
Governing authority; board of directors.
(a) All corporate powers shall be exercised by or under authority of, and the business and affairs of a nonprofit corporation shall be managed under the direction of a board of directors except as may be otherwise provided in this chapter or the certificate of... |
https://law.justia.com/codes/alabama/title-10a/chapter-3/article-2/division-a/section-10a-3-2-09/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 3 - Nonprofit Corporations.›Article 2 - Substantive Provisions.›Division A - Members and Directors.›Section 10A-3-2.09 - Number and Election of Directors; Terms; Removal From Office... | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 3 - Nonprofit Corporations. › Article 2 - Substantive Provisions. › Division A - Members and Directors. › Section 10A-3-2.09 - Number and Election of Directors; Terms; Removal From Office. | Section 10A-3-2.09
Number and election of directors; terms; removal from office.
(a) The number of directors of a nonprofit corporation shall be not less than one. Subject to this limitation, unless the number of directors is fixed by the certificate of formation or the bylaws, the board of directors may fix the number... |
https://law.justia.com/codes/alabama/title-10a/chapter-3/article-2/division-a/section-10a-3-2-10/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 3 - Nonprofit Corporations.›Article 2 - Substantive Provisions.›Division A - Members and Directors.›Section 10A-3-2.10 - Board of Directors; Vacancies. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 3 - Nonprofit Corporations. › Article 2 - Substantive Provisions. › Division A - Members and Directors. › Section 10A-3-2.10 - Board of Directors; Vacancies. | Section 10A-3-2.10
Board of directors; vacancies.
(a) Any vacancy occurring in the board of directors and any directorship to be filled by reason of an increase in the number of directors may be filled by the affirmative vote of a majority of the remaining directors, though less than a quorum of the board of directors,... |
https://law.justia.com/codes/alabama/title-10a/chapter-3/article-2/division-a/section-10a-3-2-11/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 3 - Nonprofit Corporations.›Article 2 - Substantive Provisions.›Division A - Members and Directors.›Section 10A-3-2.11 - Quorum of Directors. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 3 - Nonprofit Corporations. › Article 2 - Substantive Provisions. › Division A - Members and Directors. › Section 10A-3-2.11 - Quorum of Directors. | Section 10A-3-2.11
Quorum of directors.
(a) A majority of the number of directors fixed by the bylaws, or in the absence of a bylaw fixing the number of directors, then of the number stated in the certificate of formation, shall constitute a quorum for the transaction of business, unless otherwise provided in the gover... |
https://law.justia.com/codes/alabama/title-10a/chapter-3/article-2/division-a/section-10a-3-2-12/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 3 - Nonprofit Corporations.›Article 2 - Substantive Provisions.›Division A - Members and Directors.›Section 10A-3-2.12 - Board of Directors; Committees. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 3 - Nonprofit Corporations. › Article 2 - Substantive Provisions. › Division A - Members and Directors. › Section 10A-3-2.12 - Board of Directors; Committees. | Section 10A-3-2.12
Board of directors; committees.
If the governing documents of a nonprofit corporation so provide, the board of directors, by resolution adopted by a majority of the directors in office, may designate and appoint one or more committees each of which shall consist of two or more directors, which commit... |
https://law.justia.com/codes/alabama/title-10a/chapter-3/article-2/division-a/section-10a-3-2-13/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 3 - Nonprofit Corporations.›Article 2 - Substantive Provisions.›Division A - Members and Directors.›Section 10A-3-2.13 - Place and Notice of Directors' Meetings; Committee Meetings. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 3 - Nonprofit Corporations. › Article 2 - Substantive Provisions. › Division A - Members and Directors. › Section 10A-3-2.13 - Place and Notice of Directors' Meetings; Committee Meetings. | Section 10A-3-2.13
Place and notice of directors' meetings; committee meetings.
(a) Meetings of the board of directors, regular or special, may be held either within or without Alabama.
(b) Regular meetings of the board of directors or any committee designated thereby may be held with or without notice as prescribed in... |
https://law.justia.com/codes/alabama/title-10a/chapter-3/article-2/division-a/section-10a-3-2-14/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 3 - Nonprofit Corporations.›Article 2 - Substantive Provisions.›Division A - Members and Directors.›Section 10A-3-2.14 - Action by Members or Directors Without Meeting. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 3 - Nonprofit Corporations. › Article 2 - Substantive Provisions. › Division A - Members and Directors. › Section 10A-3-2.14 - Action by Members or Directors Without Meeting. | Section 10A-3-2.14
Action by members or directors without meeting.
Any action required by this title or this chapter to be taken at a meeting of the members or directors of a nonprofit corporation or any action which may be taken at a meeting of the members or directors or of a committee of directors may be taken witho... |
https://law.justia.com/codes/alabama/title-10a/chapter-3/article-2/division-b/section-10a-3-2-21/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 3 - Nonprofit Corporations.›Article 2 - Substantive Provisions.›Division B - Officers.›Section 10A-3-2.21 - Officers. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 3 - Nonprofit Corporations. › Article 2 - Substantive Provisions. › Division B - Officers. › Section 10A-3-2.21 - Officers. | Section 10A-3-2.21
Officers.
(a) The officers of a nonprofit corporation shall consist of a president, one or more vice presidents, a secretary, a treasurer, and other officers and assistant officers as may be deemed necessary, each of whom shall be elected or appointed at such time, in the manner and for the terms as ... |
https://law.justia.com/codes/alabama/title-10a/chapter-3/article-2/division-b/section-10a-3-2-22/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 3 - Nonprofit Corporations.›Article 2 - Substantive Provisions.›Division B - Officers.›Section 10A-3-2.22 - Removal of Officers. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 3 - Nonprofit Corporations. › Article 2 - Substantive Provisions. › Division B - Officers. › Section 10A-3-2.22 - Removal of Officers. | Section 10A-3-2.22
Removal of officers.
Any officer elected or appointed may be removed by the persons authorized to elect or appoint the officer whenever in their judgment the best interests of the nonprofit corporation will be served thereby. The removal of an officer shall be without prejudice to the contract rights... |
https://law.justia.com/codes/alabama/title-10a/chapter-3/article-2/division-c/section-10a-3-2-31/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 3 - Nonprofit Corporations.›Article 2 - Substantive Provisions.›Division C - Bylaws; Books and Records.›Section 10A-3-2.31 - Bylaws. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 3 - Nonprofit Corporations. › Article 2 - Substantive Provisions. › Division C - Bylaws; Books and Records. › Section 10A-3-2.31 - Bylaws. | Section 10A-3-2.31
Bylaws.
The initial bylaws of a nonprofit corporation shall be adopted by its board of directors. The power to alter, amend or repeal the bylaws or adopt new bylaws shall be vested in the board of directors, unless otherwise provided in the governing documents of the nonprofit corporation. The bylaws... |
https://law.justia.com/codes/alabama/title-10a/chapter-3/article-2/division-c/section-10a-3-2-32/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 3 - Nonprofit Corporations.›Article 2 - Substantive Provisions.›Division C - Bylaws; Books and Records.›Section 10A-3-2.32 - Books and Records. | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 3 - Nonprofit Corporations. › Article 2 - Substantive Provisions. › Division C - Bylaws; Books and Records. › Section 10A-3-2.32 - Books and Records. | Section 10A-3-2.32
Books and records.
Each nonprofit corporation shall keep correct and complete books and records of account and shall keep minutes of the proceedings of its members, board of directors and committees having any of the authority of the board of directors; and shall keep at its registered office or prin... |
https://law.justia.com/codes/alabama/title-10a/chapter-3/article-2/division-d/section-10a-3-2-41/ | AL | Justia›US Law›US Codes and Statutes›Code of Alabama›2023 Code of Alabama›Title 10A - Alabama Business and Nonprofit Entities Code.›Chapter 3 - Nonprofit Corporations.›Article 2 - Substantive Provisions.›Division D - Entity Specific Powers; Limitations.›Section 10A-3-2.41 - Shares of Stock and Dividends Prohibited; Comp... | 2023 Code of Alabama › Title 10A - Alabama Business and Nonprofit Entities Code. › Chapter 3 - Nonprofit Corporations. › Article 2 - Substantive Provisions. › Division D - Entity Specific Powers; Limitations. › Section 10A-3-2.41 - Shares of Stock and Dividends Prohibited; Compensation and Benefits Permitted. | Section 10A-3-2.41
Shares of stock and dividends prohibited; compensation and benefits permitted.
A nonprofit corporation shall not have or issue shares of stock. No dividend shall be paid and no part of the income or profit of a nonprofit corporation shall be distributed to its members, directors or officers. A nonpro... |
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