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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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-10-1.15.htm - 10K - Match Info - Similar pages
10A-1-1.06
Section 10A-1-1.06 Synonymous terms. To the extent not inconsistent with the Constitution of
Alabama of 1901, and other statutes of this state wherein the terms may be found, and as the
context requires, in this title or any other statute of this state: (1) a reference to certificate
of formation includes, in the case of a corporation, articles of incorporation, certificate
of incorporation, and charter; in the case of limited partnership, a certificate of limited
partnership and a certificate of formation; in the case of a limited liability company, certificate
of formation and articles of organization; and in the case of a business trust or a real estate
investment trust, declaration of trust and, similarly, a reference to articles of incorporation,
certificate of incorporation, charter, certificate of limited partnership, or articles of
organization includes a certificate of formation; (2) a reference to articles of dissolution
includes statement of dissolution and certificate of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-1-1.06.htm - 2K - Match Info - Similar pages
10A-1-1.03
limited liability company or association, a member; and (D) with respect to another foreign
or domestic entity, an owner of an equity interest in that entity. (69) OWNERSHIP INTEREST.
An owner's interest in an entity. The term includes the owner's share of profits and losses
or similar items and the right to receive distributions. The term does not include an owner's
right to participate in management or participate in the direction or oversight of the entity.
An ownership interest is personal property. (70) PARENT or PARENT ENTITY. An entity
that: (A) owns at least 50 percent of the ownership or membership interest of a subsidiary;
or (B) possesses at least 50 percent of the voting power of the owners or members of a subsidiary.
(71) PARTNER. A limited partner or general partner. (72) PARTNERSHIP. Includes a general partnership,
a limited liability partnership, a foreign limited liability partnership, a limited partnership,
a foreign limited partnership, a limited liability...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-1-1.03.htm - 25K - Match Info - Similar pages
40-18-1
existed on December 31, 2007. (8) CORPORATION. The term includes associations, joint stock
companies, and any other entity classified as an association taxable as a corporation for
federal income tax purposes. (9) DISREGARDED ENTITY. Any entity which is disregarded for federal
income tax purposes. (10) DOMESTIC. When applied to a corporation or subchapter K entity means
created or organized under the laws of the State of Alabama. (11) FIDUCIARY. A guardian, trustee,
executor, administrator, personal representative, receiver, conservator, or any person
acting in any fiduciary capacity for any person. (12) FISCAL YEAR. An accounting period of
12 months ending on the last day of any month other than December. (13) FOREIGN. When applied
to a corporation or a subchapter K entity means created or organized under a jurisdiction
other than the State of Alabama. (14) GEOTHERMAL. Any geothermal reservoir in Alabama consisting
of natural heat which is stored in rocks or in an aqueous liquid or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-1.htm - 11K - Match Info - Similar pages
10A-8A-11.07
Section 10A-8A-11.07 Composite returns. The Alabama Department of Revenue shall promulgate
rules and regulations similar to those provided under Section 40-18-176, relating to Alabama
S corporations, to permit the filing of annual composite income tax returns for one or more
nonresident partners, who are individuals, of a partnership, limited liability partnership,
or foreign limited liability partnership with an effective statement of foreign limited liability
partnership on file with the Secretary of State, as well as one or more nonresident members,
who are individuals, of a limited liability company or foreign limited liability company and
one or more nonresident beneficiaries, who are individuals, of a business trust, organized
under or recognized by the laws of this state. (Act 2018-125, ยง7.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-8A-11.07.htm - 1K - Match Info - Similar pages
35-19-2
Section 35-19-2 Definitions. The following terms shall have the following meanings: (1) ACTIVITY
AND USE LIMITATIONS. Restrictions or obligations created under this chapter with respect to
real property. (2) AGENCY or DEPARTMENT. The Alabama Department of Environmental Management.
(3) COMMON INTEREST COMMUNITY. A condominium, cooperative, or other real property with respect
to which a person, by virtue of the person's ownership of a parcel of real property, is obligated
to pay property taxes or insurance premiums, or for maintenance, or improvement of other real
property described in a recorded covenant that creates the common interest community. (4)
DIRECTOR. The Director of the Alabama Department of Environmental Management or his or her
designated representative. (5) ENVIRONMENTAL COVENANT. A servitude arising under an environmental
response project that imposes activity and use limitations. (6) ENVIRONMENTAL RESPONSE PROJECT.
A plan or work performed for environmental remediation...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-19-2.htm - 2K - Match Info - Similar pages
40-18-24.2
capacity as a nonresident member, as herein defined, of a pass-through entity or lower-tier
pass-through entity. (4) QUALIFIED INVESTMENT PARTNERSHIP. A partnership or other entity classified
as a Subchapter K entity, or a business trust as defined in Section 40-18-1, that meets all
of the following requirements for the applicable tax period: a. No less than 90 percent of
the cost of the entity's total assets consists of qualifying investment securities and office
facilities and tangible personal property reasonably necessary to carry on its activities
in this state as an investment partnership. b. No less than 90 percent of its gross income
consists of interest, dividends, distributions, and gains and losses from the sale or exchange
of qualifying investment securities, and management fees paid by its members. c. An authorized
officer, partner, member, or manager of the entity files on behalf of the entity a certification
that it meets the above two criteria with respect to the tax...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-24.2.htm - 7K - Match Info - Similar pages
10A-1-8.01
in accordance with the procedures and by the stockholder vote required by Article 9 of Chapter
2A. If the governing documents provide for approval of a conversion by less than all of a
corporation's stockholders, approval of the conversion shall constitute corporate action subject
to appraisal rights pursuant to Article 13 of Chapter 2A. No conversion of a corporation to
a general or limited partnership may be effected without the consent in writing of each stockholder
who will have personal liability with respect to the converted entity, notwithstanding
any provision in the governing documents of the converting corporation providing for less
than unanimous stockholder approval for the conversion. b. The terms and conditions of a plan
of conversion of a nonprofit corporation must be approved by all the nonprofit corporation's
members entitled to vote thereon, if it is a nonprofit corporation with members with voting
rights, or as otherwise provided in the nonprofit...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-1-8.01.htm - 18K - Match Info - Similar pages
19-3B-816
Section 19-3B-816 Specific powers of trustee. (a) Without limiting the authority conferred
by Section 19-3B-815, a trustee may: (1) collect trust property and accept or reject additions
to the trust property from a settlor or any other person, including, but not being limited
to, the authority to receive, collect, hold, and retain common or preferred stock or other
interests in the trustee or any related party; (2) acquire or sell property, for cash or on
credit, at public or private sale; (3) exchange, partition, or otherwise change the character
of trust property; (4) deposit trust money in an account in a regulated financial-service
institution; (5) borrow money, with or without security, and mortgage or pledge trust property
for a period within or extending beyond the duration of the trust; (6) with respect to an
interest in a proprietorship, partnership, limited liability company, business trust, corporation,
or other form of business or enterprise, continue the business or other...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-3B-816.htm - 10K - Match Info - Similar pages
35-12-71
Section 35-12-71 Definitions. As used in this article, unless the context otherwise requires,
the following terms shall have the meanings respectively ascribed to them by this section:
(1) APPARENT OWNER. A person whose name appears on the records of a holder as the person entitled
to property held, issued, or owing by the holder. (2) BUSINESS ASSOCIATION. A corporation,
joint stock company, investment company, partnership, unincorporated association, joint venture,
limited liability company, business trust, trust company, safe deposit company, financial
organization, insurance company, mutual fund, utility, or other business entity consisting
of one or more persons, whether or not for profit. (3) DOMICILE. The state of incorporation
of a corporation and the state of the principal place of business of a holder other than a
corporation. (4) FINANCIAL ORGANIZATION. A savings and loan association, building and loan
association, industrial loan organization, credit union, cooperative bank,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-12-71.htm - 6K - Match Info - Similar pages
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