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 REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE JANUARY 1, 2020.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.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-7.35.htm - 1K - Match Info - Similar pages
8-6-2
Section 8-6-2 Definitions. When used in this article, unless the context otherwise requires, the following terms shall have the meanings respectively ascribed to them by this section: (1) COMMISSION or SECURITIES COMMISSION. The securities commission. (2) AGENT. Any individual other than a dealer who represents a dealer or issuer in effecting or attempting to effect sales of securities, but such term does not include an individual who represents an issuer in: a. Effecting a transaction in a security exempted by subdivisions (1), (2), (3), (4), (9) or (10) of Section 8-6-10; b. Effecting transactions exempted by Section 8-6-11; or c. Effecting transactions with existing employees, partners, or directors of the issuer if no commission or other remuneration is paid or given directly or indirectly for soliciting any person in this state. A partner, officer, or director of a dealer or issuer is an agent if he otherwise comes within this definition. (3) DEALER. Any person engaged in the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-6-2.htm - 11K - Match Info - Similar pages
8-6-94
Section 8-6-94 Right of minor to receive dividends, etc. A minor may receive in his own right dividends or other moneys in respect to any securities standing in his name on the books of a corporation, bank, or business trust, and such receipt shall constitute a valid and sufficient release and discharge of the corporation, bank, or business trust for such dividends or other moneys paid to such minor, notwithstanding that the corporation, bank, or business trust may have actual or written notice of the minority of such person. (Acts 1961, No. 1010, p. 1585, §4.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-6-94.htm - 873 bytes - Match Info - Similar pages
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.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-7.33.htm - 1K - Match Info - Similar pages
10A-2A-6.01
Section 10A-2A-6.01 Authorized stock. (a) The certificate of incorporation must set forth any classes of stock and series of stock within a class, and the number of shares of stock of each class and series, that the corporation is authorized to issue. If more than one class or series of stock is authorized, the certificate of incorporation must prescribe a distinguishing designation for each class or series and, before the issuance of stock of a class or series, describe the terms, including the preferences, rights, and limitations, of that class or series. Except to the extent varied as permitted by this section, all shares of stock of a class or series must have terms, including preferences, rights, and limitations, that are identical with those of other shares of stock of the same class or series. (b) The certificate of incorporation must authorize: (1) one or more classes or series of stock that together have full voting rights, and (2) one or more classes or series of stock (which...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2A-6.01.htm - 3K - 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
10A-20-7.04
Section 10A-20-7.04 Powers of corporation. In furtherance of its purposes and in addition to the powers now or hereafter conferred on business corporations by Alabama statutes, the corporation shall, subject to the restrictions and limitations contained in this section, have the following powers: (1) To elect, appoint, and employ officers, agents, and employees to make contracts and incur liabilities for any of the purposes of the corporation; provided, that the corporation shall not incur any secondary liability by way of guaranty or endorsement of the obligations of any person, firm, corporation, joint stock company, association, or trust or in any other manner. (2) To borrow money from its members and the small business administration and any other similar federal agency for any of the purposes of the corporation, to issue therefor its bonds, debentures, notes, or other evidences of indebtedness, whether secured or unsecured, and to secure the same by mortgage, pledge, deed of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-20-7.04.htm - 4K - Match Info - Similar pages
27-27-26
Section 27-27-26 Pecuniary interests of officers, etc., of domestic insurers. (a) No officer or director of a domestic insurer, and no member of any committee or employee of a domestic insurer who is charged with the duty of investing or handling the funds of the insurer, shall do any of the following: (1) Deposit or invest the funds except in the corporate name of the insurer; except, that the insurer may for its convenience hold any equity investment in a street name or in the name of a nominee. (2) Borrow the funds of the insurer. (3) Be pecuniarily interested in any loan, pledge or deposit, security, investment, sale, purchase, exchange, reinsurance, or other similar transaction or property of the insurer except as follows: a. As a stockholder or member of the insurer. b. As a holder or owner of common stock or equity-like preferred stock in any corporation or business entity trading on a national or international stock exchange. c. As a holder or owner of shares of mutual funds,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-27-26.htm - 3K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2A-1.40.htm - 13K - Match Info - Similar pages
40-18-24.2
Section 40-18-24.2 Taxation of pass-through entities. (a) For purposes of this section and Section 40-18-24.3, the following terms shall have the following meanings: (1) MEMBER. An individual, estate, trust or business trust as defined in Section 40-18-1, a corporation as defined in Section 40-18-1, or Subchapter K entity as defined in Section 40-18-1, that is a partner in a general, limited, limited liability, or limited liability limited partnership, or a member of a limited liability company. (2) NONRESIDENT. a. An individual who is not a resident of or domiciled in this state during the applicable tax year. b. A nonresident trust as defined in Section 40-18-1. c. A nonresident estate as defined in Section 40-18-1. d. A foreign corporation as defined in Section 40-18-1, not commercially domiciled in this state during the applicable tax year. e. A Subchapter K entity or business trust that is created or organized under the laws of a jurisdiction other than this state and that is not...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-24.2.htm - 7K - Match Info - Similar pages
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