|
10A-2A-6.30
Section 10A-2A-6.30 Stockholders' preemptive rights. (a) The stockholders of a corporation
do not have a preemptive right to acquire the corporation's unissued stock except to the extent
the certificate of incorporation so provides. (b) A statement included in the certificate
of incorporation that "the corporation elects to have preemptive rights" (or words
of similar effect) means that the following principles apply except to the extent the certificate
of incorporation expressly provides otherwise: (1) The stockholders of the corporation have
a preemptive right, granted on uniform terms and conditions prescribed by the board of directors
to provide a fair and reasonable opportunity to exercise the right, to acquire proportional
amounts of the corporation's unissued stock upon the decision of the board of directors to
issue them. (2) A preemptive right may be waived by a stockholder. A waiver evidenced by a
writing is irrevocable even though it is not supported by consideration. (3)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2A-6.30.htm - 3K - Match Info - Similar pages
34-43-15
Section 34-43-15 Complaints; grounds for suspension; revocation, etc., of license; penalties;
rulemaking authority. (a) Any person may file with the board a written and signed complaint
regarding an allegation of impropriety by a licensee, establishment, or person. Complaints
shall be made in the manner prescribed by the board. Complaints received by the board shall
be referred to a standing investigative committee consisting of a board member, the Executive
Director, the board attorney, and the board investigator. If no probable cause is found, the
investigative committee may dismiss the charges and prepare a statement, in writing, of the
reasons for the decision. (b) If probable cause is found, the board shall initiate an administrative
proceeding. Upon a finding that the licensee has committed any of the following instances
of misconduct, the board may suspend, revoke, or refuse to issue or renew a license or impose
a civil penalty after notice and opportunity for a hearing pursuant...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/34-43-15.htm - 5K - Match Info - Similar pages
36-25-1
Section 36-25-1 Definitions. Whenever used in this chapter, the following words and
terms shall have the following meanings: (1) BUSINESS. Any corporation, partnership, proprietorship,
firm, enterprise, franchise, association, organization, self-employed individual, or any other
legal entity. (2) BUSINESS WITH WHICH THE PERSON IS ASSOCIATED. Any business of which the
person or a member of his or her family is an officer, owner, partner, board of director member,
employee, or holder of more than five percent of the fair market value of the business. (3)
CANDIDATE. This term as used in this chapter shall have the same meaning ascribed to it in
Section 17-5-2. (4) COMMISSION. The State Ethics Commission. (5) COMPLAINT. Written
allegation or allegations that a violation of this chapter has occurred. (6) COMPLAINANT.
A person who alleges a violation or violations of this chapter by filing a complaint against
a respondent. (7) CONFIDENTIAL INFORMATION. A complaint filed pursuant to this...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-25-1.htm - 21K - Match Info - Similar pages
11-92B-7
Section 11-92B-7 Board of directors. (a) The authority shall operate under the direction
of a board of directors which shall consist of voting members selected as follows: (1) One
member appointed by the Governor. (2) Five members appointed by the governing body of each
municipality whose corporate limits lie in whole or in part within the operational area of
the authority. (3) Five members appointed by the governing body of the county of incorporation.
(b) A vacancy occurring on the board for any reason shall be filled within 30 days of the
vacancy by the appointing authority making the initial appointment. If the appointing authority
that made the initial appointment does not fill the vacancy within 30 days, the remaining
appointing authorities shall make the appointment. (c) Initial appointments to the board shall
be made within 30 days following the effective date of the incorporation. The Governor's initial
appointee shall serve a three-year term. Each governing body of a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-92B-7.htm - 5K - Match Info - Similar pages
34-7B-26
Section 34-7B-26 Application and licensure requirements to operate school. (a) Before
being licensed by the board to operate a school, an applicant shall satisfy all of the requirements
of this section. (1) An applicant shall submit to the board all of the following: a.
A bond, in the amount of fifty thousand dollars ($50,000) to protect potential students in
the event of closure. b. Proof of sufficient liability insurance coverage. c. A current financial
statement prepared by a reputable source and, if required by the board, a letter of credit.
d. A list of equipment owned by the school. e. A sample of student contract agreements and
financial forms relating to tuition, grants, and scholarships. f. Furnish affidavits from
an adequate number of prospective students as approved by the board stating their intent to
enroll when the school opens. (2) The applicant, owner, proposed dean, or proper corporate
executive may be required to appear before the board. (3) The applicant shall...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/34-7B-26.htm - 4K - Match Info - Similar pages
10A-2A-7.01
Section 10A-2A-7.01 Annual meetings. (a) Unless directors are elected by written consent
in lieu of an annual meeting as permitted by Section 10A-2A-7.04, a corporation shall
hold a meeting of stockholders annually at a time stated in or fixed in accordance with the
certificate of incorporation or bylaws at which directors shall be elected. (b) Unless the
board of directors determines to hold the meeting solely by means of remote communication
in accordance with Section 10A-2A-7.09(c), annual meetings may be held (i) in or out
of this state at the place stated in or fixed in accordance with the certificate of incorporation
or bylaws or (ii) if no place is stated in or fixed in accordance with the certificate of
incorporation or bylaws, at the corporation's principal office. (c) The failure to hold an
annual meeting at the time stated in or fixed in accordance with a corporation's certificate
of incorporation or bylaws does not affect the validity of any corporate action. (Act 2019-94,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2A-7.01.htm - 1K - Match Info - Similar pages
10A-3-2.43
Section 10A-3-2.43 Power to indemnify directors or officers. Each nonprofit corporation
shall have the power to indemnify any director or officer or former director or officer of
the corporation, or any person who may have served at its request as a director or officer
of another corporation, whether profit or nonprofit, in which it owns shares of capital stock
or of which it is a creditor, against expenses actually and reasonably incurred by him or
her in connection with the defense of any action, suit, or proceeding, civil or criminal,
in which he or she is made a party by reason of being or having been such director or officer,
except in relation to matters as to which he or she shall be adjudged in the action, suit,
or proceeding to be liable for negligence or misconduct in the performance of his or her duty;
and to make any other indemnification that shall be authorized by the governing documents
of the nonprofit corporation, vote of the board of directors, or resolution adopted...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-3-2.43.htm - 1K - Match Info - Similar pages
22-21-50
Section 22-21-50 Proceedings to establish. (a) Any one or more local governing bodies
located in the same or contiguous counties, within a zone determined by the State Board of
Health as a zone for public hospitals, may act to establish a hospital association, a body
corporate and politic. Before taking action to establish a hospital association, each local
governing body involved shall give notice of the time, place and purpose of a public hearing
at which all residents and taxpayers of the local political subdivision shall be given an
opportunity to be heard. Such notice by the local governing body shall be given by publishing
or posting a notice at least 10 days preceding the day on which the hearing is to be held.
In determining whether a hospital association shall be established, the need for additional
hospital beds in the areas affected shall be determined. After such a hearing, the local governing
body shall determine whether to establish a hospital association, and if it is...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-50.htm - 3K - Match Info - Similar pages
45-49-151.05
Section 45-49-151.05 Duties of commission. The racing commission shall implement this
subpart and shall have the following specific duties: (1) To set dates upon which race meetings
may be operated, except Sundays. (2) To make an annual report to the chair of the county legislative
delegation, to the president or chair of the county foundation for higher education, and to
the mayor of each municipality reflecting receipts derived under this subpart. The report
may contain suggestions necessary for the implementation of this subpart. (3) To require the
following information for each application for a racing license: a. The full name of the person,
association, or corporation, including the state of incorporation and the names of the agents
for service of process within the State of Alabama. b. The names of the stockholders and directors
of a corporate applicant and the names of the officers and directors of any association. c.
The exact desired location for the conduct of any race...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-49-151.05.htm - 2K - Match Info - Similar pages
10A-2-8.62
Section 10A-2-8.62 Directors' action. REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94
EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) Directors' action
respecting a transaction is effective for purposes of Section 10A-2-8.61(b)(1) if the
transaction received the affirmative vote of a majority, but no fewer than two, of those qualified
directors on the board of directors or on a duly empowered committee of the board who voted
on the transaction after either required disclosure to them, to the extent the information
was not known by them, or compliance with subsection (b); provided that action by a committee
is to be effective only if (1) all its members are qualified directors, and (2) its members
are either all the qualified directors on the board or are appointed by the affirmative vote
of a majority of the qualified directors on the board. (b) If a director has a conflicting
interest respecting a transaction but neither the director nor a related person...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-8.62.htm - 2K - Match Info - Similar pages
|