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10A-2-11.03
Section 10A-2-11.03 Action on plan. REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE
JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) After adopting a plan of
merger or share exchange, the board of directors of each corporation party to the merger,
and the board of directors of the corporation whose shares will be acquired in the share exchange,
shall submit the plan of merger, except as provided in subsection (g), or share exchange for
approval by its shareholders. (b) For a plan of merger or share exchange to be approved: (1)
The board of directors must recommend the plan of merger or share exchange to the shareholders,
unless the board of directors determines that because of conflict of interest or other special
circumstances it should make no recommendation and communicates the basis for its determination
to the shareholders with the plan; and (2) The shareholders entitled to vote must approve
the plan. (c) Subject to the corporation's articles of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-11.03.htm - 5K - Match Info - Similar pages
2-10-98
Section 2-10-98 Organization with capital stock. Incorporated associations may be organized
under this article with capital stock at the option of the organizers. In that event the association
shall be organized by the same method and for the same recording fee as in the case of those
associations organized without capital stock, except that the articles of association shall
set forth also that the association is organized with capital stock and the amount of capital
stock authorized with particulars as to the class or classes thereof and the par value of
shares. There shall be no individual liability on the part of shareholders, members, officers
or directors for the obligations of the corporation. The articles of association may provide
for preferred stock as well as common stock, but all shares shall have a definite par value,
and all shares of the same class shall have the same par value. If so divided, the articles
of incorporation must contain a statement of the number of shares...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/2-10-98.htm - 2K - Match Info - Similar pages
11-54-83
Section 11-54-83 Certificate of incorporation - Contents; execution and acknowledgment. (a)
The certificate of incorporation shall set forth: (1) The names and residences of the applicants
together with a recital that each of them is an elector of and taxpayer in the municipality;
(2) The name of the board which shall be The Industrial Development Board of the _____ of
_____ (the blank spaces to be filled in with the name of the municipality, including the proper
designation thereof as a city or town) if such name shall be available for use by the board
and if not available then the incorporators shall designate some other similar name that is
available; (3) A recital that permission to organize the board had been granted by resolution
duly adopted by the governing body of the municipality and the date of the adoption of such
resolution; (4) The location of the principal office of the board (which shall be in the municipality);
(5) The purposes for which the board is proposed to be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-54-83.htm - 1K - Match Info - Similar pages
11-50A-6
Section 11-50A-6 Board of directors; election committee; meetings; officers; compensation;
recordkeeping. (a) The board of directors of the authority shall be elected by the duly designated
representatives of the municipalities which are authorized and directed to designate a member
of the election committee as hereinafter provided in this section. Until the first meeting
of the board of directors following the meeting in 2015 of the election committee hereinafter
provided for, the board of directors shall consist of nine members; thereafter, the board
shall consist of the number of members equal to the number of municipalities contracting with
the authority for the purchase of electric power and energy pursuant to Section 11-50A-17,
which are authorized and directed to designate a member of the election committee. Members
of the board of directors shall be eligible to succeed themselves. The business, affairs,
and property of the authority shall be managed by its board of directors....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50A-6.htm - 18K - Match Info - Similar pages
11-59-4
Section 11-59-4 Certificate of incorporation - Contents; execution and acknowledgment. (a)
The certificate of incorporation shall set forth: (1) The names and residences of the applicants
together with a recital that each of them is an elector of and taxpayer in the municipality;
(2) The name of the corporation which shall be the Public Athletic Board of the _____ of _____
(the blank spaces to be filled in with the name of the municipality, including the proper
designation thereof as a city or town); (3) A recital that permission to organize the corporation
had been granted by resolution duly adopted by the governing body of the municipality and
the date of the adoption of such resolution; (4) The location of the principal office of the
corporation (which shall be in the municipality); (5) The purposes for which the corporation
is proposed to be organized; (6) The number of directors of the corporation; (7) The period,
if any, for the duration of the corporation; and (8) Any other...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-59-4.htm - 1K - Match Info - Similar pages
10A-20-7.02
Section 10A-20-7.02 Incorporation. (a) Five or more financial institutions or persons, a majority
of whom shall be residents of this state, who may desire to create an industrial development
corporation under the provisions of this article for the purpose of promoting, developing,
and advancing the prosperity and economic welfare of the state and, to that end, to exercise
the powers and privileges provided in this article may be incorporated by delivering to the
Secretary of State for filing a certificate of formation. The filing of the certificate shall
be accompanied by a filing fee in the amount prescribed to be paid to the Secretary of State
under Section 10A-1-4.31 in connection with the filing of a certificate of formation. The
certificate of formation shall contain: (1) The name of the corporation which shall include
the words "industrial development corporation of Alabama." (2) The location of the
principal office of the corporation, but the corporation may have offices in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-20-7.02.htm - 5K - Match Info - Similar pages
10A-2-7.32
Section 10A-2-7.32 Shareholder agreements. REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94
EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) An agreement among
the shareholders of a corporation that complies with this section is effective among the shareholders
and the corporation even though it is inconsistent with one or more provisions of this chapter
in that it: (1) Eliminates the authority of the board of directors or restricts the discretion
or powers of the board of directors; (2) Governs the authorization or making of distributions
whether or not in proportion to ownership of shares, subject to the limitations in Section
10A-2-6.40; (3) Establishes who shall be directors or officers of the corporation, or their
terms of office or manner of selection or removal; (4) Governs, in general or in regard to
specific matters, the exercise or division of voting power by or between the shareholders
and directors or by or among any of them, including use of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-7.32.htm - 5K - Match Info - Similar pages
11-60-4
Section 11-60-4 Certificate of incorporation - Contents; execution and acknowledgment. (a)
The certificate of incorporation of any corporation organized under this chapter shall set
forth: (1) The names and residences of the applicants, together with a recital that each of
them is an elector of and taxpayer in the municipality; (2) The name of the corporation which
shall be the Public Park and Recreation Board of the _____ of _____ (the blank spaces to be
filled in with the name of the municipality, including the proper designation thereof as a
city or town), if such name shall be available for use by the corporation and, if not available,
then the incorporators shall designate some other similar name that is available; (3) A recital
that permission to organize the corporation has been granted by a resolution duly adopted
by the governing body of the municipality and the date of the adoption of such resolution;
(4) The location of the principal office of the corporation (which shall be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-60-4.htm - 2K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-28-2.htm - 13K - Match Info - Similar pages
11-62-8
Section 11-62-8 Bonds and notes generally - Form, terms, denominations, etc.; execution, sale,
delivery, redemption, etc.; security for payment of principal or interest; remedies upon default;
liability of municipalities, board, etc., thereupon. (a) Any authority shall have power to
issue from time to time its bonds and notes in such principal amount as its board shall determine
to be necessary to provide sufficient funds for achieving any of its corporate purposes, including
the payment of interest on any of its notes and bonds, the establishment of reserves to secure
any such notes and bonds and all other expenditures of such authority incident to and necessary
or convenient to carry out its corporate purposes and powers. Any authority shall also have
the power to issue from time to time notes to renew notes and bonds to pay notes, including
interest thereon and, whenever it deems refunding expedient, to refund any bonds by the issuance
of new bonds, whether the bonds to be refunded...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-62-8.htm - 12K - Match Info - Similar pages
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