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10A-2A-13.02
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 and the merger is governed by Section 10A-2A-11.05
or (ii) if stockholder approval is required for the merger by Section 10A-2A-11.04, or would
be required but for the provisions of Section 10A-2A-11.04(j), except that appraisal rights
shall not be available to any stockholder of the corporation with respect to stock of any
class or series that remain outstanding after consummation of the merger; (2) consummation
of a stock exchange to which the corporation is a party the stock of which will be acquired,
except that appraisal rights shall not be available to any stockholder of the corporation
with respect to any class or series of stock of the corporation that is not...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2A-13.02.htm - 7K - Match Info - Similar pages
6-5-254
Section 6-5-254 Payment of value of permanent improvements; how value of improvements ascertained.
(a) Any person offering to redeem must pay to the then holder of the legal title the value
of all permanent improvements made on the land since the sale, and if the holder of the legal
title cannot be ascertained, payment may be made to the circuit court of the county having
jurisdiction of the subject matter when the complaint is filed to redeem. In response to written
demand made under Section 6-5-252, the then holder of the legal title shall, within 10 days
from the receipt of such demand, furnish the proposed redemptioner with the amount claimed
as the value of such permanent improvements; and within 10 days after receipt of such response,
the proposed redemptioner either shall accept the value so stated by the then holder of the
legal title or, disagreeing therewith, shall appoint a referee to ascertain the value of such
permanent improvements and in writing notify the then holder of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/6-5-254.htm - 2K - Match Info - Similar pages
10A-2-7.04
Section 10A-2-7.04 Action without meeting. REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94
EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) Except as provided
in the articles of incorporation, action required or permitted by the Constitution of Alabama
of 1901 or by this chapter to be taken at a shareholders' meeting may be taken without a meeting
if the action is taken by all shareholders entitled to vote on the action. The action must
be evidenced by one or more written consents describing the action taken, signed by all the
shareholders entitled to vote on the action, and delivered to the corporation for inclusion
in the minutes or filing with the corporate records. (b) If not otherwise fixed under Section
10A-2-7.03 or 10A-2-7.07, the record date for determining shareholders entitled to take action
without a meeting is the date the first shareholder signs the consent under subsection (a).
(c) A consent signed under this section has the effect of a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-7.04.htm - 2K - Match Info - Similar pages
10A-10-1.14
Section 10A-10-1.14 Amendment of declaration. (a) Except as provided in subsection (c) of Section
10A-10-1.06 or subdivision (7) of subsection (a) of Section 10A-10-1.07, a declaration of
trust may be amended only as provided in this section. (b) The board of trustees of a real
estate investment trust proposing an amendment to its declaration of trust shall: (1) Adopt
a resolution which sets forth the proposed amendment and declares that it is advisable. (2)
Direct that the proposed amendment be submitted for consideration at either an annual or special
meeting of the shareholders. (c) Notice which states that a purpose of the meeting will be
to act upon the proposed amendment shall be given by the real estate investment trust in the
manner provided in the declaration of trust or bylaws to: (1) Each shareholder entitled to
vote on the proposed amendment. (2) Each shareholder not entitled to vote on the proposed
amendment if the contract rights of the shareholder's shares, as expressly...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-10-1.14.htm - 2K - Match Info - Similar pages
10A-2A-13.25
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 forth in the appraisal notice sent pursuant to Section
10A-2A-13.22(b)(1). (b) If the corporation elects to withhold payment under subsection (a),
it shall, within 30 days after the form required by Section 10A-2A-13.22(b)(2)(ii) is due,
notify all stockholders who are described in subsection (a): (1) of the information required
by Section 10A-2A-13.24(b)(1); (2) of the corporation's estimate of fair value pursuant to
Section 10A-2A-13.24(b)(2); (3) that they may accept the corporation's estimate of fair value,
plus interest, in full satisfaction of their demands or demand appraisal under Section 10A-2A-13.26;
(4) that those stockholders who wish to accept the offer shall...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2A-13.25.htm - 2K - Match Info - Similar pages
27-31B-21
Section 27-31B-21 Conversion to or merger with reciprocal insurer. (a) An association captive
insurance company or industrial insured group formed as a stock or mutual corporation may
be converted to or merged with and into a reciprocal insurer in accordance with a plan therefor
and this section. (b) A plan for this conversion or merger shall satisfy both of the following:
(1) Be fair and equitable to the shareholders, in the case of a stock insurer, or the policyholders,
in the case of a mutual insurer. (2) Provide for the purchase of the shares of any nonconsenting
shareholder of a stock insurer or the policyholder interest of any nonconsenting policyholder
of a mutual insurer in substantially the same manner and subject to the same rights and conditions
as are accorded a dissenting shareholder under Article 13, commencing with Section 10-2B-13.01,
of Chapter 2B of Title 10. (c) A conversion authorized under subsection (a) shall satisfy
all of the following: (1) The conversion shall...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31B-21.htm - 5K - Match Info - Similar pages
10A-2-11.03
Section 10A-2-11.03 Action on plan. REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE
JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) After adopting a plan of
merger or share exchange, the board of directors of each corporation party to the merger,
and the board of directors of the corporation whose shares will be acquired in the share exchange,
shall submit the plan of merger, except as provided in subsection (g), or share exchange for
approval by its shareholders. (b) For a plan of merger or share exchange to be approved: (1)
The board of directors must recommend the plan of merger or share exchange to the shareholders,
unless the board of directors determines that because of conflict of interest or other special
circumstances it should make no recommendation and communicates the basis for its determination
to the shareholders with the plan; and (2) The shareholders entitled to vote must approve
the plan. (c) Subject to the corporation's articles of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-11.03.htm - 5K - Match Info - Similar pages
10A-2-16.02
Section 10A-2-16.02 Inspection of records by shareholders. REPEALED IN THE 2019 REGULAR SESSION
BY ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a)
A shareholder of a domestic corporation or of a foreign corporation with its principal office
within this state is entitled to inspect and copy, during regular business hours at the corporation's
principal office, or if its principal office is outside this state, at a reasonable location
within this state, specified by the corporation, any of the records of the corporation described
in Section 10A-2-16.01(e) if he or she gives the corporation written notice of his or her
demand at least five business days before the date on which he or she wishes to inspect and
copy. (b) A shareholder of a domestic corporation or of a foreign corporation with its principal
office within this state who shall have been a holder of record of shares for 180 days immediately
preceding his or her demand or who is the holder...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-16.02.htm - 4K - Match Info - Similar pages
10A-2A-16.02
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 actions taken without a meeting by, the corporation's
board of directors and board committees established under Section 10A-2A-8.25, if the stockholder
gives the corporation a signed written notice of the stockholder's demand at least five business
days before the date on which the stockholder wishes to inspect and copy. (b) A stockholder
of a corporation is entitled to inspect and copy, during regular business hours at a reasonable
location specified by the corporation, any of the following records of the corporation if
the stockholder meets the requirements of subsection (c) and gives the corporation a signed
written notice of the stockholder's demand at least five...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2A-16.02.htm - 6K - Match Info - Similar pages
40-29-23
30-day period provided in this chapter. (b) Seizure and sale of property. The term "levy"
as used in this chapter includes the power of distraint and seizure by any lawful means. Except
as otherwise provided in subdivision (d)(3), a levy shall extend only to property possessed
and obligations existing at the time thereof. In any case in which the Commissioner of Revenue
may levy upon property or rights to property, he may seize and sell such property or rights
to property (whether real or personal, tangible or intangible), as prescribed by law.
The Department of Revenue may become the purchaser of any property seized by bidding up to
the amount of the final assessment and accrued interest plus any costs associated with such
sale. The amount of any successful bid by the department, less costs, shall be credited to
the amount owing on the unpaid final assessments. If the department shall become the purchaser
of any property at such sale, then the department may resell the property by...
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