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10A-30-2.01
Section 10A-30-2.01 Article applicable to close corporations; applicability of chapter. (a)
This article applies to all close corporations, as defined in Section 10A-30-2.02. (b) All
provisions of this article shall be applicable to all close corporations as defined in Section
10A-30-2.02 except insofar as this article otherwise provides. (c) Neither election to become,
nor operation as, a close corporation shall deprive any shareholder of such corporation of
the limitation of liability provided under the Alabama Business Corporation Law. (d) This
chapter shall apply only to close corporations formed in accordance with Section 10A-30-2.03
before January 1, 1995, or electing to become a close corporation pursuant to Section 10A-30-2.04
before January 1, 1995, and which has not voluntarily terminated its status as a close corporation
or otherwise ceased to be a close corporation to which the provisions of this article apply
before January 1, 1995. (Acts 1980, No. 80-633, p. 1094, ยง161;...
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10A-8A-1.08
Section 10A-8A-1.08 Effect of partnership agreement; nonwaivable provisions. (a) Except as
otherwise provided in subsections (b) and (c): (1) the partnership agreement governs relations
among the partners as partners and between the partners and the partnership; and (2) to the
extent the partnership agreement does not otherwise provide for a matter described in subsection
(a)(1), this chapter governs the matter. (b)(1) To the extent that, at law or in equity, a
partner or other person has duties, including fiduciary duties, to a partnership or to another
partner or to another person that is a party to or is otherwise bound by a partnership agreement,
the partner's or other person's duties may be expanded or restricted or eliminated by provisions
in a written partnership agreement, but the implied contractual covenant of good faith and
fair dealing may not be eliminated. (2) A written partnership agreement may provide for the
limitation or elimination of any and all liabilities for...
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10A-9A-1.08
Section 10A-9A-1.08 Effect of partnership agreement; nonwaivable provisions. (a) Except as
otherwise provided in subsections (b) and (c): (1) the partnership agreement governs relations
among the partners as partners and between the partners and the partnership; and (2) to the
extent the partnership agreement does not otherwise provide for a matter described in subsection
(a)(1), this chapter governs the matter. (b)(1) To the extent that, at law or in equity, a
partner or other person has duties, including fiduciary duties, to a limited partnership or
to another partner or to another person that is a party to or is otherwise bound by a partnership
agreement, the partner's or other person's duties may be expanded or restricted or eliminated
by provisions in a written partnership agreement, but the implied contractual covenant of
good faith and fair dealing may not be eliminated. (2) A written partnership agreement may
provide for the limitation or elimination of any and all liabilities...
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10A-3-2.08
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 formation. If any provision is made in the certificate
of formation, the power and duties conferred or imposed upon the board of directors by this
chapter shall be exercised or performed to the extent and by the governing authority as shall
be provided in the certificate of formation. Directors shall be natural persons but need not
be residents of Alabama unless the governing documents so require. The governing documents
may prescribe other qualifications for directors. The board of directors shall have authority
to fix the compensation of directors unless otherwise provided in the certificate of formation.
(b) The directors of the corporation shall not, as such, be...
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10A-4-1.03
Section 10A-4-1.03 Definitions. As used in this chapter, unless the context otherwise requires,
the term: (1) DISQUALIFIED PERSON. Any person who is not a qualified person. (2) DOMESTIC
PROFESSIONAL CORPORATION. A corporation for profit or nonprofit organized pursuant to the
provisions of this chapter. (3) FOREIGN PROFESSIONAL CORPORATION. A corporation or unincorporated
association, for profit or nonprofit, organized for the purpose of rendering professional
services under a law other than the law of Alabama. (4) LICENSING AUTHORITY. As defined in
Section 10A-1-1.03(49). (5) PROFESSIONAL SERVICE. As defined in Section 10A-1-1.03(80). (6)
QUALIFIED PERSON. With respect to any domestic professional corporation: a. An individual
who is authorized by law of Alabama or of any qualified state to render a professional service
permitted by the certificate of formation of the professional corporation; b. A general partnership
in which all the partners are qualified persons with respect to the...
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8-8-1.1
Section 8-8-1.1 Maximum rates of interest - Permitted under state or federal law. (a) Individuals,
partnerships, banks, corporations, and other legal entities may, on any loans or extensions
of credit made by them, charge or impose the same rate of interest or finance charge to the
same extent and under the same circumstances and conditions as any federal or state chartered
or licensed lending institution having its principal place of business in Alabama; provided,
however, that any individual or partnership charging or imposing interest or finance charges
in excess of that permitted such lending institutions under other applicable law shall be
subject to the same penalties prescribed in such other applicable law or laws for such excessive
interest or finance charges. (b) The provisions of this section are cumulative and nothing
herein contained shall diminish rights or powers otherwise existing. The provisions of this
section, as amended, shall have retroactive effect to May 14, 1979,...
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10A-10-1.15
Section 10A-10-1.15 Merger. (a) For purposes of this section, the following words shall have
the respective meanings ascribed to them: (1) ALABAMA REAL ESTATE INVESTMENT TRUST. A real
estate investment trust organized in compliance with the provisions of this chapter. (2) BUSINESS
TRUST. a. An entity described in Section 10A-16-1.01. b. An unincorporated trust or association,
including an Alabama real estate investment trust, a common-law trust, or a Massachusetts
trust, which is engaged in business and in which property is acquired, held, managed, administered,
controlled, invested, or disposed of for the benefit and profit of any person who may become
a holder of a transferable unit of beneficial interest in the trust. (3) DOMESTIC LIMITED
LIABILITY COMPANY. A limited liability company as defined under the Alabama Limited Liability
Company Law. (4) DOMESTIC LIMITED PARTNERSHIP. A limited partnership as defined under the
Alabama Limited Partnership Law. (5) FOREIGN BUSINESS TRUST. A...
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10A-1-7.05
Section 10A-1-7.05 Effect of registration. (a) The application for registration of a foreign
entity and the statement of foreign limited liability partnership takes effect in accordance
with Article 4 of this chapter. The registration of a foreign entity remains in effect until
the registration terminates, is withdrawn, or is revoked. (b) Except in a proceeding to revoke
the registration of a foreign entity or as otherwise provided by the law of Alabama, the Secretary
of State's issuance of an acknowledgment that the foreign entity has filed an application
for registration or a statement of foreign limited liability partnership, as applicable, is
conclusive evidence of the authority of the foreign entity to transact business in this state
under the foreign entity's name or under another name stated in the application for registration
in accordance with Section 10A-1-7.04(b)(1) or stated in the statement of foreign limited
liability partnership in accordance with Section...
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15-12-1
Section 15-12-1 Definitions. When used in this chapter, the following terms shall have the
following meanings: (1) APPOINTED COUNSEL. Any attorney licensed to practice law in the State
of Alabama who is appointed by the court to represent an indigent defendant. (2) CONTRACT
COUNSEL. Any attorney licensed to practice law in the State of Alabama, or a firm, association,
corporation, or partnership of lawyers so licensed, executing a contract for the provision
of indigent defense services. (3) DIRECTOR. The Director of the Office of Indigent Defense
Services. (4) INDIGENT DEFENDANT. Any person involved in a criminal or juvenile proceeding
in the trial or appellate courts of the state for which proceeding representation by counsel
is constitutionally required or is authorized or required by statute or court rule, including
parents of children during the termination of parental rights hearings, who under oath or
affirmation states that he or she is unable to pay for his or her...
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10A-20-6.02
Section 10A-20-6.02 Incorporation. (a) The incorporators of any corporation to be governed
by this article shall prepare and deliver to the Secretary of State for filing a certificate
of formation stating an intention to become a corporation, which certificate of formation
shall be signed by each of the incorporators and shall set forth: (1) The name of the proposed
corporation; (2) The objects and purposes for which the corporation is organized; (3) The
location of the principal office of the corporation in this state; and (4) The name and post
office address of each incorporator, not less than three in number. (b) The certificate of
formation may also contain any other provisions, not inconsistent with the provisions of this
article, which the incorporators may desire to insert for the regulation of the business or
affairs of the corporation or which would be permitted nonprofit corporations by the Alabama
Nonprofit Corporation Law. The filing of the certificate of formation shall be...
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