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16-18B-2
Section 16-18B-2 Definitions. Where used in this article the following words and terms shall
be given the following respective meanings unless the context hereof clearly indicates otherwise:
(1) AMENDMENT. The amendment to the constitution of the state authorizing the issuance of
the bonds. (2) CORPORATION. The public corporation authorized to be created by this article.
(3) BOARD OF DIRECTORS. The board of directors of the corporation. (4) BONDS. The bonds issued
under this article. (5) CODE. The Code of Alabama 1975, as amended. (6) GOVERNMENT SECURITIES.
Any bonds or other obligations which as to principal and interest constitute direct obligations
of, or are unconditionally guaranteed by, the United States of America, including obligations
of any federal agency to the extent such obligations are unconditionally guaranteed by the
United States of America and any certificates or any other evidences of an ownership interest
in such obligations of, or unconditionally guaranteed by, the...
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10A-20-7.11
Section 10A-20-7.11 Loans to corporation by members. Each member of the corporation shall make
loans to the corporation as and when called upon by it to do so on the terms and other conditions
as shall be approved from time to time by the board of directors, subject to the following
conditions: (1) All loan limits shall be established at the one thousand dollars ($1,000)
amount nearest to the amount computed in accordance with the provisions of this section. (2)
No loan to the corporation shall be made if immediately thereafter the total amount of the
obligations of the corporation would exceed 50 times the amount then paid in on the outstanding
capital stock of the corporation. (3) The total amount outstanding on loans to the corporation
made by any member at any one time, when added to the amount of the investment in the capital
stock of the corporation then held by the member, shall not exceed: a. Twenty percent of the
total amount then outstanding on loans to the corporation by all...
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10A-2A-6.40
Section 10A-2A-6.40 Distributions to stockholders. (a) The board of directors may authorize
and the corporation may make distributions to its stockholders subject to restriction by the
certificate of incorporation and the limitation in subsection (c). (b) The board of directors
may fix the record date for determining stockholders entitled to a distribution, which date
may not be retroactive. If the board of directors does not fix a record date for determining
stockholders entitled to a distribution (other than one involving a purchase, redemption,
or other acquisition of the corporation's stock), the record date is the date the board of
directors authorizes the distribution. (c) No distribution may be made if, after giving it
effect: (1) the corporation would not be able to pay its debts as they become due in the usual
course of business; or (2) the corporation's total assets would be less than the sum of its
total liabilities plus (unless the certificate of incorporation permits...
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11-97-2
Section 11-97-2 Definitions. The following words and phrases used in this chapter, and others
evidently intended as the equivalent thereof, shall, in the absence of a clear implication
herein otherwise, be given the following respective interpretations herein: (1) APPLICANT.
A natural person who files a written application with the governing body of any county or
municipality in accordance with the provisions of Section 11-97-3 hereof. (2) AUTHORIZING
RESOLUTION. A resolution of ordinance adopted by the governing body of any county or municipality
in accordance with the provisions of Section 11-97-3 hereof, that authorizes the incorporation
of a corporation. (3) BOARD. The board of directors of a corporation. (4) BONDS. Bonds, notes,
or other obligations representing an obligation to pay money. (5) CORPORATION. Any public
corporation organized pursuant to the provisions of this chapter. (6) COSTS. As applied to
a facility or any portion thereof, shall include all or any part of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-97-2.htm - 10K - Match Info - Similar pages
2-6-76
Section 2-6-76 Powers of corporation - Issuance and sale of securities. (a) The corporation
is authorized to issue and sell its interest-bearing or noninterest-bearing securities, in
one or more series, not exceeding $6,000,000.00, in aggregate principal amount, to provide
funds to be used by the Board of Agriculture and Industries in the construction, acquisition
and installation of a market facility and to be used by the Agricultural Center Board in the
renovation of the coliseum. (b) The principal of, premium, if any, and interest on any securities
or series of securities of the corporation the proceeds of which are devoted to the construction,
acquisition and installation of the market facility shall be payable from and secured by a
pledge of all rents, leases, charges or other revenues derived or realized from leases to
the public of said market facility after deduction of costs of operation. The principal of,
premium, if any, and interest on any securities or series of securities...
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11-89B-2
Section 11-89B-2 Form, terms, denominations, etc. of bonds; execution and delivery; interest;
sale; issuance of refunding bonds; liability on bonds; source of payment; use of proceeds;
mortgage, deed of trust, etc., containing certain agreements. All bonds issued pursuant to
the provisions of this chapter shall be signed by the chairman of the board of directors or
other governing body or other chief executive officer of such public corporation and attested
by its secretary and the seal of such public corporation shall be affixed thereto; provided,
that a facsimile of the signatures of both of the officers whose signatures will appear on
the bonds may be imprinted or otherwise reproduced thereon in lieu of being manually signed
if the proceedings in which the bonds are authorized to be issued provide for the manual authentication
of such bonds by a trustee, registrar or paying agent; provided further, that a facsimile
of the seal of such public corporation may be imprinted or otherwise...
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16-3-28
Section 16-3-28 Authority of board and trustees of institutions to borrow from federal agencies
or others; issuance of bonds, notes and other securities. (a) The State Board of Education,
acting for the respective educational institutions under its supervision, and each public
corporation that conducts one or more state educational institutions under its supervision,
acting through its board of trustees or other governing body, are hereby separately authorized
to exercise and perform any or all of the following powers: (1) To borrow money from the United
States of America or any department or agency thereof, or from any person, firm, corporation
or other lending agency for the purchase, construction, enlargement or alteration of any buildings
or other improvements, including dormitories, dining halls, classrooms, laboratories, libraries,
stadiums, administration buildings and any other buildings and appurtenances thereto suitable
for use by the institution with respect to which the...
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10A-2A-1.47
Section 10A-2A-1.47 Ratification of defective corporate actions. (a) To ratify a defective
corporate action under this section (other than the ratification of an election of the initial
board of directors under subsection (b)), the board of directors shall take action ratifying
the action in accordance with Section 10A-2A-1.48, stating: (1) the defective corporate action
to be ratified and, if the defective corporate action involved the issuance of putative stock,
the number and type of shares of putative stock purportedly issued; (2) the date of the defective
corporate action; (3) the nature of the failure of authorization with respect to the defective
corporate action to be ratified; and (4) that the board of directors approves the ratification
of the defective corporate action. (b) In the event that a defective corporate action to be
ratified relates to the election of the initial board of directors of the corporation under
Section 10A-2A-2.04(a)(2), a majority of the persons who,...
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45-17-92
Section 45-17-92 Colbert County Tourism and Convention Bureau. (a) This section shall apply
only in Colbert County. (b) The following words and terms as used in this section, shall have
the meanings hereby ascribed to them: "the bureau" means the public corporation
for which this section provides; "the board" means the board of directors of the
authority for which this section provides. (c)(1) There is hereby established in the county
a public corporation for the purposes herein specified, which corporation shall be vested
with the powers conferred upon it by this section. The public corporation is at times hereinafter
referred to as "the bureau." (2) Subject to the conditions and qualifications hereinafter
stated, the name of the corporation shall be the Colbert County Tourism and Convention Bureau.
(d)(1) The bureau shall be authorized and empowered to conduct programs, including but not
limited to programs of information and publicity designed to attract conventions and tourism
to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-17-92.htm - 6K - Match Info - Similar pages
10A-2-6.30
Section 10A-2-6.30 Shareholders' preemptive rights. REPEALED IN THE 2019 REGULAR SESSION BY
ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) The
shareholders of a corporation have a preemptive right to acquire the corporation's unissued
shares except to the extent the articles of incorporation otherwise provide. (b) The following
principles govern a shareholder's preemptive rights under this section, except to the extent
the articles of incorporation expressly provide otherwise: (1) The shareholders 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 shares upon the decision of the board of directors to
issue them. (2) A shareholder may waive his or her preemptive right. A waiver evidenced by
a writing is irrevocable even though it is not supported by...
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