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16-44B-1
Section 16-44B-1 Compact. ARTICLE I PURPOSE It is the purpose of this compact to remove barriers
to education success imposed on children of military families because of frequent moves and
deployment of their parents by: A. Facilitating the timely enrollment of children of military
families and ensuring that they are not placed at a disadvantage due to difficulty in the
transfer of education records from the previous school district(s) or variations in entrance/age
requirements. B. Facilitating the student placement process through which children of military
families are not disadvantaged by variations in attendance requirements, scheduling, sequencing,
grading, course content or assessment. C. Facilitating the qualification and eligibility for
enrollment, educational programs, and participation in extracurricular academic, athletic,
and social activities. D. Facilitating the on-time graduation of children of military families.
E. Providing for the promulgation and enforcement of...
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10A-2-3.04
Section 10A-2-3.04 Ultra vires. REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE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 subsection
(b), the validity of corporate action may not be challenged on the ground that the corporation
lacks or lacked power to act. (b) A corporation's power to act may be challenged: (1) In a
proceeding by a shareholder against the corporation to enjoin the act; (2) In a proceeding
by the corporation, directly, derivatively, or through a receiver, trustee, or other legal
representative, against an incumbent or former director, officer, employee, or agent of the
corporation; or (3) In a proceeding by the Attorney General under Section 10A-2-14.30. (c)
In a shareholder's proceeding under subsection (b)(1) to enjoin an unauthorized corporate
act, the court may enjoin or set aside the act, if equitable and if all affected persons are
parties to the proceeding, and may award damages for loss, other than...
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10A-2A-7.23
Section 10A-2A-7.23 Stock held by intermediaries and nominees. (a) A corporation's board of
directors may establish a procedure under which a person on whose behalf stock is registered
in the name of an intermediary or nominee may elect to be treated by the corporation as the
record stockholder by filing with the corporation a beneficial ownership certificate. The
terms, conditions, and limitations of this treatment shall be specified in the procedure.
To the extent that person is treated under those procedures as having rights or privileges
that the record stockholder otherwise would have, the record stockholder shall not have those
rights or privileges. (b) The procedure must specify: (1) the types of intermediaries or nominees
to which it applies; (2) the rights or privileges that the corporation recognizes in a person
with respect to whom a beneficial ownership certificate is filed; (3) the manner in which
the procedure is selected which must include that the beneficial ownership...
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10A-2A-13.03
Section 10A-2A-13.03 Assertion of rights by nominees and beneficial stockholders. (a) A record
stockholder may assert appraisal rights as to fewer than all the shares of stock registered
in the record stockholder's name but owned by a beneficial stockholder or a voting trust beneficial
owner only if the record stockholder objects with respect to all shares of stock of a class
or series owned by the beneficial stockholder or the voting trust beneficial owner and notifies
the corporation in writing of the name and address of each beneficial stockholder or voting
trust beneficial owner on whose behalf appraisal rights are being asserted. The rights of
a record stockholder who asserts appraisal rights for only part of the stock held of record
in the record stockholder's name under this subsection shall be determined as if the stock
as to which the record stockholder objects and the record stockholder's other shares of stock
were registered in the names of different record stockholders. (b)...
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10A-2-8.09
Section 10A-2-8.09 Removal of directors by judicial proceeding. REPEALED IN THE 2019 REGULAR
SESSION BY ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.
(a) The circuit court of the county where a corporation's principal office, or, if none in
this state, its registered office, is located may remove a director of the corporation from
office in a proceeding commenced either by the corporation or by its shareholders holding
at least 10 percent of the outstanding shares of any class if the court finds that (1) the
director engaged in fraudulent or dishonest conduct, or gross abuse of authority or discretion,
with respect to the corporation and (2) removal is in the best interest of the corporation.
(b) The court that removes a director may bar the director from reelection for a period prescribed
by the court. (c) If shareholders commence a proceeding under subsection (a), they shall make
the corporation a party defendant. (Acts 1994, No. 94-245, p. 343,...
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10A-2A-7.03
Section 10A-2A-7.03 Court-ordered meetings. (a) The designated court, and if none, the circuit
court for the county in which the corporation's principal office is located in this state,
and, if none in this state, the circuit court for the county in which the corporation's most
recent registered office is located may summarily order a meeting to be held: (1) on application
of any stockholder of the corporation entitled to participate in an annual meeting if an annual
meeting was not held or action by written consent in lieu of an annual meeting did not become
effective within the earlier of 12 months after the end of the corporation's fiscal year or
15 months after its last annual meeting; or (2) on application of one or more stockholders
who signed a demand for a special meeting valid under Section 10A-2A-7.02, if: (i) notice
of the special meeting was not given within 30 days after the first day on which the requisite
number of demands have been delivered to the corporation; or (ii)...
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43-8-75
Section 43-8-75 How elective share satisfied; what property applied first; apportionment of
others' liability for balance of elective share. (a) In the proceeding for an elective share,
values included in the estate which pass or have passed to the surviving spouse, or which
would have passed to the surviving spouse but were renounced, are applied first to satisfy
the elective share and to reduce any contributions due from other recipients of transfers
included in the estate. For purposes of this subsection, the electing spouse's beneficial
interest in any life estate or in any trust shall be computed as if worth one-half of the
total value of the property subject to the life estate, or of the trust estate, unless higher
or lower values for these interests are established by proof; provided, however, that, to
the extent that the electing spouse's beneficial interest is a life estate or is an interest
in a trust and is coupled with a general power of appointment (whether exercisable by...
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10A-2-3.03
Section 10A-2-3.03 Emergency powers. REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE
JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) In anticipation of or during
an emergency defined in subsection (d), the board of directors of a corporation may: (1) Modify
lines of succession to accommodate the incapacity of any director, officer, employee, or agent;
and (2) Relocate the principal office, designate alternative principal offices or regional
offices, or authorize the officers to do so. (b) During an emergency defined in subsection
(d), unless emergency bylaws provide otherwise: (1) Notice of a meeting of the board of directors
need be given only to those directors whom it is practicable to reach and may be given in
any practical manner, including by publication and radio; and (2) One or more officers of
the corporation present at a meeting of the board of directors may be deemed to be directors
for the meeting in order of rank and within the same rank in...
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10A-3-7.18
Section 10A-3-7.18 Survival of remedy after dissolution. The dissolution of a nonprofit corporation
either (1) by the filing of the articles of dissolution by the Secretary of State, or (2)
by an order of court when the court has not liquidated the assets and affairs of the corporation
as provided in this chapter, or (3) by operation of law, or (4) by expiration of its period
of duration, shall not take away or impair any remedy available to or against the nonprofit
corporation, its directors, officers, or members, for any right or claim existing, or any
liability incurred, prior to the dissolution if action or other proceeding thereon is commenced
within two years after the date of the dissolution. Any action or proceeding by or against
the nonprofit corporation may be prosecuted or defended by the nonprofit corporation in its
corporate name. The members, directors, and officers shall have power to take the corporate
or other action as shall be appropriate to protect the remedy,...
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10A-2A-13.20
Section 10A-2A-13.20 Notice of appraisal rights. (a) Where any corporate action specified in
Section 10A-2A-13.02(a) is to be submitted to a vote at a stockholders' meeting, the meeting
notice (or where no approval of the corporate action is required pursuant to Section 10A-2A-11.04(j),
the offer made pursuant to Section 10A-2A-11.04(j)), must state that the corporation has concluded
that appraisal rights are, are not, or may be available under this Article 13. If the corporation
concludes that appraisal rights are or may be available, a copy of this Article 13 must accompany
the meeting notice or offer sent to those record stockholders entitled to exercise appraisal
rights. (b) In a merger pursuant to Section 10A-2A-11.05, the parent entity shall notify in
writing all record stockholders of the subsidiary who are entitled to assert appraisal rights
that the corporate action became effective. The notice shall be sent within 10 days after
the corporate action became effective and...
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