10A-2-7.34
Section 10A-2-7.34 Infant not entitled to disaffirm as against corporation without notice of
infancy. REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS
IS NOT IN THE CURRENT CODE SUPPLEMENT. An infant holder of stock or other securities of a
corporation, having voted or given consent in respect thereto, having transferred or conveyed
the stock or securities or having made an election or exercised a right relating to the stock
or security, shall have no right thereafter to disaffirm or avoid, as against the corporation,
any act on his or her part unless, prior to the receipt, vote or consent, the making of the
election or the exercise of the right, the corporation had written notice of the infancy by
delivery to it or to its transfer agent of a written notice stating that the holder was an
infant. (Acts 1957, No. 546, p. 766, §2; §10-6-2; amended and renumbered by Act 2009-513,
p. 967, §114.)...
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10A-2-7.33
Section 10A-2-7.33 Corporation without notice of infancy may treat infant as having capacity
to vote, transfer, etc. REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE JANUARY
1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. A corporation may treat an infant who
holds stock or other securities of the corporation in his or her own name as having capacity
to vote or to give consent in person or by proxy in respect thereof, to transfer and to convey
the same and to make elections and exercise rights relating to the stock or securities, unless
the corporation has notice of the infancy by delivery to it or to its transfer agent of a
written notice stating that the holder is an infant. (Acts 1957, No. 546, p. 766, §1; §10-6-1;
amended and renumbered by Act 2009-513, p. 967, §114.)...
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10A-2-7.35
Section 10A-2-7.35 Right of infant to receive dividends in own name. REPEALED IN THE 2019 REGULAR
SESSION BY ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.
An infant may in his or her own right receive dividends in respect of the stock or securities
standing in his or her name on the books of the corporation, and the receipt shall constitute
a valid and sufficient release and discharge of the corporation for the dividends paid to
the infant stockholder, notwithstanding that the corporation may have actual or written notice
of the infancy of the holder of its stock or securities. (Acts 1957, No. 546, p. 766, §3;
§10-6-3; amended and renumbered by Act 2009-513, p. 967, §114.)...
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10A-2A-7.22
Section 10A-2A-7.22 Proxies. (a) A stockholder may vote the stockholder's stock in person or
by proxy. (b) A stockholder, or the stockholder's agent or attorney-in-fact, may appoint a
proxy to vote or otherwise act for the stockholder by signing an appointment form, or by an
electronic transmission. An electronic transmission must contain or be accompanied by information
from which the recipient can determine the date of the transmission and that the transmission
was authorized by the sender or the sender's agent or attorney-in-fact. (c) An appointment
of a proxy is effective when a signed appointment form or an electronic transmission of the
appointment is received by the inspector of election or the officer or agent of the corporation
authorized to count votes. An appointment is valid for the term provided in the appointment
form, and, if no term is provided, is valid for 11 months unless the appointment is irrevocable
under subsection (d). (d) An appointment of a proxy is revocable...
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27-28-2
Section 27-28-2 Plan for exchange of stock, etc., between domestic stock insurer and holding
company - Procedure for exchange. A plan of exchange shall be adopted and become effective
in the following manner: (1) APPROVAL OF THE BOARDS OF DIRECTORS. - The boards of directors
of each corporate party to the plan of exchange by resolution shall adopt the plan of exchange
which shall set forth the terms and conditions of the exchange and the mode of carrying the
same into effect and such other provisions with respect to the exchange as may be deemed necessary
or desirable. (2) APPROVAL OF COMMISSIONER. - Every plan of exchange, before being submitted
to vote of the stockholders pursuant to subdivision (3) of this section, shall be submitted
for approval to the commissioner in accordance with the following procedure: a. After the
approval required by subdivision (1) of this section is obtained, the domestic company shall
submit to the commissioner three copies of the plan of exchange and...
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10A-2A-1.40
Section 10A-2A-1.40 Chapter definitions. Notwithstanding Section 10A-1-1.03, as used in this
chapter, unless otherwise specified or unless the context otherwise requires, the following
terms have the following meanings: (1) AUTHORIZED STOCK means the stock of all classes and
series a corporation or foreign corporation is authorized to issue. (2) BENEFICIAL STOCKHOLDER
means a person who owns the beneficial interest in stock, which is either a record stockholder
or a person on whose behalf shares of stock are registered in the name of an intermediary
or nominee. (3) CERTIFICATE OF INCORPORATION means the certificate of incorporation described
in Section 10A-2A-2.02, all amendments to the certificate of incorporation, and any other
documents permitted or required to be delivered for filing by a corporation with the Secretary
of State under this chapter or Chapter 1 that modify, amend, supplement, restate, or replace
the certificate of incorporation. After an amendment of the certificate...
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27-29-3
Section 27-29-3 Acquisition of control of, or merger with, domestic insurers. (a)(1) No person
other than the issuer shall make a tender offer for or a request or invitation for tenders
of, or enter into any agreement to exchange securities for, seek to acquire, or acquire in
the open market any voting security of a domestic insurer if, after the consummation thereof,
such person would, directly or indirectly, or by conversion or by exercise of any right to
acquire, be in control of such insurer, and no person shall enter into an agreement to merge
with or otherwise to acquire control of a domestic insurer, or any person controlling a domestic
insurer unless, at the time any such offer, request, or invitation is made or any such agreement
is entered into, or prior to the acquisition of such securities if no offer or agreement is
involved such person has filed with the commissioner and has sent to such insurer a statement
containing the information required by this section and such...
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40-27-1
Section 40-27-1 Compact adopted; terms. The following Multistate Tax Compact is hereby approved,
adopted and enacted into law by the State of Alabama: Multistate Tax Compact Article I. Purposes.
The purposes of this compact are to: 1. Facilitate proper determination of state and local
tax liability of multistate taxpayers, including the equitable apportionment of tax bases
and settlement of apportionment disputes. 2. Promote uniformity or compatibility in significant
components of tax systems. 3. Facilitate taxpayer convenience and compliance in the filing
of tax returns and in other phases of tax administration. 4. Avoid duplicative taxation. Article
II. Definitions. As used in this compact: 1. "State" means a state of the United
States, the District of Columbia, the Commonwealth of Puerto Rico, or any territory or possession
of the United States. 2. "Subdivision" means any governmental unit or special district
of a state. 3. "Taxpayer" means any corporation, partnership, firm,...
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40-29-30
Section 40-29-30 Legal effect of certificate of sale of personal property and deed of real
property. (a) Certificate of sale of property other than real property. In all cases of a
sale of property (other than real property) pursuant to Section 40-29-26, the certificate
of such sale: (1) AS EVIDENCE. Shall be prima facie evidence of the right of the officer to
make such sale, and conclusive evidence of the regularity of his proceedings in making the
sale; and (2) AS CONVEYANCES. Shall transfer to the purchaser all right, title, and interest
of the party delinquent in and to the property sold; and (3) AS AUTHORITY FOR TRANSFER OF
CORPORATE STOCK. If such property consists of stocks, shall be notice when received, to any
corporation, company, or association of such transfer, and shall be authority to such corporation,
company, or association to record the transfer on its books and records in the same manner
as if the stocks were transferred or assigned by the party holding the same, in...
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10A-2-14.34
Section 10A-2-14.34 Election to purchase in lieu of dissolution. REPEALED IN THE 2019 REGULAR
SESSION BY ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.
(a) In a proceeding under Section 10A-2-14.30(2) to dissolve a corporation that has no shares
listed on a national securities exchange or regularly traded in a market maintained by one
or more members of a national or affiliated securities association, the corporation may elect
or, if it fails to elect, one or more shareholders may elect to purchase all shares owned
by the petitioning shareholder at the fair value of the shares. An election pursuant to this
section shall be irrevocable unless the court determines that it is equitable to set aside
or modify the election. (b) An election to purchase pursuant to this section may be filed
with the court at any time within 90 days after the filing of the petition under Section 10A-2-14.30(2)
or at a later time as the court in its discretion may allow. If...
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