10A-2-7.05
Section 10A-2-7.05 Notice of meeting. REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) A corporation, or, in the case of a special meeting called pursuant to Section 10A-2-7.02(a)(3), the persons calling the meeting, shall notify shareholders in writing of the date, time, and place of each annual and special shareholders' meeting no fewer than 10 nor more than 60 days before the meeting date. Unless this chapter or the articles of incorporation require otherwise, the corporation, or other persons calling the meeting, are required to give notice only to shareholders entitled to vote at the meeting. Notwithstanding the provisions of this section or any other provisions of this chapter, the stock or bonded indebtedness of a corporation shall not be increased at a meeting unless notice of the meeting shall have been given as may be required by Section 234 of the Constitution of Alabama of 1901, as the same may be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-7.05.htm - 2K - Match Info - Similar pages
10A-21-2.12
Section 10A-21-2.12 Aiding of another corporation in railroad construction or entering into line arrangements. (a) Any railroad corporation and any mining, manufacturing, or quarrying corporation may, at any time, by means of subscription to the capital stock of any other corporation or company or otherwise, aid the corporation or company in the construction of its railroad for the purpose of forming a connection with the railroad or the principal place of business or works of the corporation furnishing the aid. (b) Any corporation may purchase at judicial sale, or otherwise hold and use or lease any part or all of the railroad constructed by another corporation or company, together with its franchises, rights, and property, or may acquire, hold, and use all or any part of the capital stock of another corporation chartered under the laws of this state or any other state, if the railroad or railroads so purchased connect with, or will, when completed, connect with the railroad works,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-21-2.12.htm - 2K - Match Info - Similar pages
10A-3-7.10
Section 10A-3-7.10 Liquidation - Jurisdiction of court to liquidate assets and affairs of corporation. (a) The circuit court of the county in which the nonprofit corporation's principal office is located in this state, and if none in this state, the circuit court for the county in which the nonprofit corporation's most recent registered office is located shall have full power to liquidate the assets and affairs of a nonprofit corporation: (1) In an action by a member or director when it is established: a. That the directors are deadlocked in the management of the corporate affairs and that irreparable injury to the nonprofit corporation is being suffered or is threatened by reason thereof, and either that the members are unable to break the deadlock or there are no members having voting rights; b. That the acts of the directors or those in control of the nonprofit corporation are illegal, oppressive, or fraudulent; c. That the members entitled to vote in the election of directors are...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-3-7.10.htm - 2K - Match Info - Similar pages
11-65-16
Section 11-65-16 Review of application for horse racing facility license. (a) A commission shall promptly consider any application for the issuance or transfer of a horse racing facility license submitted to it and shall grant or deny the issuance or transfer of such license based on all information before it, including the results of investigations it deems appropriate. A commission shall deny the issuance of an original horse racing facility license to any applicant unless it finds that the applicant's facility will meet the following minimum standards: (1) That the facilities will provide a track racing surface of at least one mile; (2) That the facility will be appropriate for the conduct of horse racing year-round and at night; and (3) That the facility will be located within the boundaries of the commission municipal jurisdiction or will be located on land in the host county and annexed to the sponsoring municipality prior to the commencement of racing. (b) A commission shall...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-65-16.htm - 6K - Match Info - Similar pages
37-2A-4
Section 37-2A-4 Jurisdiction of the Public Service Commission. (a) Notwithstanding any provision of law to the contrary, the commission shall not have any jurisdiction, right, power, authority, or duty to regulate, supervise, control, oversee, or monitor, directly or indirectly, the rates, charges, classifications, provision, or any aspect of broadband service, broadband enabled services, VoIP services, or information services. (b)(1) The commission may require incumbent local exchange carriers to unbundle their networks, but the commission shall not require the carriers to unbundle in a manner that exceeds in degree or differs in kind from the unbundling requirements of the Federal Communications Commission. (2) Nothing in this section shall be construed to: a. Affect any entity's obligations under 47 U.S.C. Sections 251 and 252 or a right granted to an entity by these sections. b. Affect any applicable wholesale tariff. c. Grant, modify, or affect the authority of the commission to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-2A-4.htm - 8K - Match Info - Similar pages
8-22-4
Section 8-22-4 Definitions. The following terms shall have the meanings ascribed to them in this section unless otherwise stated and unless the context or subject matter clearly indicates otherwise: (1) PERSON. Any person, firm, association, organization, partnership, business trust, joint stock company, company, corporation, or legal entity. (2) MOTOR FUEL. Those products upon which the state excise tax levied, or defined, in Sections 40-17-1 through 40-17-52 and 40-17-170, as amended, is imposed. (3) WHOLESALER. Includes any person qualified as a wholesaler of motor fuel with the state Revenue Commissioner, and shall also mean and include any person, other than a buying pool defined herein, wherever resident or located, who brings or causes to be brought into this state motor fuel purchased directly from the manufacturer thereof. (4) WHOLESALE DISTRIBUTION. Any person, or the act of any person, including any affiliate of such person, in commerce within the state, who purchases motor...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-22-4.htm - 7K - Match Info - Similar pages
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
27-30-29
Section 27-30-29 Membership; meetings of members; voting rights. (a) Every holder of a policy, certificate, or benefit agreement issued by the association and then in force shall be deemed to be a member of the association. (b) Annual and special meetings of the members of a domestic mutual aid association formed on the mutual plan shall be held as provided by the laws of this state for stock insurers. (c) Notwithstanding the provisions of subdivision (b) (1) of Section 27-27-22, each member of the association shall be entitled to one vote upon each matter voted upon at the meeting. Each member shall have the right to attend and vote on all matters before the meeting in person or by written proxy executed at least 30 days prior to the meeting. (Acts 1971, No. 407, p. 707, ยง587.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-30-29.htm - 1K - Match Info - Similar pages
37-6-16
Section 37-6-16 Conversion of existing corporation into cooperative. Any corporation organized under the laws of this state for the purpose, among others, of supplying electric energy to its members may be converted into a cooperative and become subject to this chapter with the same effect as if originally organized under this chapter by complying with the following requirements: The proposition for the conversion of such corporation into a cooperative and proposed articles of conversion to give effect thereto shall be first approved by the board of trustees or the board of directors, as the case may be, of such corporation. The proposed articles of conversion shall recite in the caption that they are executed pursuant to this chapter and shall state: The name of the corporation prior to its conversion into a cooperative; the address of the principal office of such corporation; the date of the filing of articles of incorporation of such corporation in the office of the secretary of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-6-16.htm - 3K - Match Info - Similar pages
10A-2-12.02
Section 10A-2-12.02 Sale of assets other than in regular course of business. REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) Subject to the limitations of the Constitution of Alabama of 1901, as the same may be amended from time to time, a corporation may sell, lease, exchange, or otherwise dispose of all, or substantially all, of its property, with or without the good will, otherwise than in the usual and regular course of business on the terms and conditions and for the consideration determined by the corporation's board of directors, if the board of directors proposes and its shareholders approve the proposed transaction. (b) For a transaction to be authorized: (1) The board of directors must recommend the proposed transaction to the shareholders unless the board of directors determines that because of a conflict of interest or other special circumstances it should make no recommendation and communicates...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-12.02.htm - 3K - Match Info - Similar pages
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