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10A-2A-8.52
Section 10A-2A-8.52 Mandatory indemnification. A corporation shall indemnify a director who
was wholly successful, on the merits or otherwise, in the defense of any proceeding to which
the director was a party because he or she was a director of the corporation against expenses
incurred by the director in connection with the proceeding. (Act 2019-94, §1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2A-8.52.htm - 668 bytes - Match Info - Similar pages
10A-2-8.52
Section 10A-2-8.52 Mandatory indemnification. REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94
EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. A corporation shall
indemnify a director who was successful, on the merits or otherwise, in the defense of any
proceeding, or of any claim, issue or matter in the proceeding, where he or she was a party
because he or she is or was a director of the corporation, against reasonable expenses incurred
in connection therewith, notwithstanding that he or she was not successful on any other claim,
issue or matter in any proceeding. (Acts 1994, No. 94-245, p. 343, §1; §10-2B-8.52; amended
and renumbered by Act 2009-513, p. 967, §124.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-8.52.htm - 1K - Match Info - Similar pages
27-61-1
Section 27-61-1 Surplus Lines Insurance Multi-State Compliance Compact. The Surplus Lines Insurance
Multi-State Compliance Compact Act is enacted into law and entered into with all jurisdictions
mutually adopting the compact in the form substantially as follows: PREAMBLE WHEREAS, with
regard to Non-Admitted Insurance policies with risk exposures located in multiple states,
the 111th United States Congress has stipulated in Title V, Subtitle B, the Non-Admitted and
Reinsurance Reform Act of 2010, of the Dodd-Frank Wall Street Reform and Consumer Protection
Act, hereafter, the NRRA, that: (A) The placement of Non-Admitted Insurance shall be subject
to the statutory and regulatory requirements solely of the insured's Home State, and (B) Any
law, regulation, provision, or action of any State that applies or purports to apply to Non-Admitted
Insurance sold to, solicited by, or negotiated with an insured whose Home State is another
State shall be preempted with respect to such application;...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-61-1.htm - 62K - Match Info - Similar pages
37-6-3
Section 37-6-3 Enumerated powers. A cooperative shall have the power: (1) To sue and be sued
in its corporate name. (2) To adopt a corporate seal and alter the same at its pleasure. (3)
To generate, manufacture, purchase, acquire and transmit electric energy and to distribute,
sell, supply and dispose of electric energy to its members, to governmental agencies and political
subdivisions and to other persons; provided, however, that should a cooperative acquire any
electric facilities dedicated or devoted to the public use, it may continue to serve the persons
served directly from such facilities at the time of such acquisition without requiring that
such persons become members, and, provided further, that such nonmembers shall have the right
to become members upon nondiscriminatory terms. Cooperatives may not condition membership
or provision of service on compliance by the member with requirements not directly related
to the electric or other service to be provided by the cooperative....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-6-3.htm - 19K - Match Info - Similar pages
10A-1-6.11
Section 10A-1-6.11 Mandatory indemnification. (a) An enterprise shall indemnify a governing
person or former governing person against reasonable expenses actually incurred by the person
in connection with a proceeding in which the person is a respondent because the person is
or was a governing person if the person is successful, on the merits or otherwise, in the
defense of the proceeding, or any claim, issue, or matter in the proceeding, notwithstanding
that he or she was not successful on any other claim, issue, or matter in the proceeding.
(b) A court that determines, in a suit for indemnification, that a governing person is entitled
to indemnification under this section shall order indemnification and award to the person
the expenses incurred in securing the indemnification. (Act 2009-513, p. 967, §50.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-1-6.11.htm - 1K - Match Info - Similar pages
10A-2A-8.51
Section 10A-2A-8.51 Permissible indemnification. (a) Except as otherwise provided in this section,
a corporation may indemnify an individual who is a party to a proceeding because the individual
is a director against liability incurred in the proceeding if: (1) (i) the director conducted
himself or herself in good faith; and (ii) the director reasonably believed: (A) in the case
of conduct in an official capacity, that his or her conduct was in the best interests of the
corporation; and (B) in all other cases, that his or her conduct was at least not opposed
to the best interests of the corporation; and (iii) in the case of any criminal proceeding,
the director had no reasonable cause to believe his or her conduct was unlawful; or (2) the
director engaged in conduct for which broader indemnification has been made permissible or
obligatory under a provision of the certificate of incorporation (as authorized by Section
10A-2A-2.02(b)(5)). (b) A director's conduct with respect to an...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2A-8.51.htm - 2K - Match Info - Similar pages
10A-2A-8.56
Section 10A-2A-8.56 Indemnification of officers. (a) A corporation may indemnify and advance
expenses under this Division E of this Article 8 to an officer who is a party to a proceeding
because he or she is an officer (1) to the same extent as a director; and (2) if he or she
is an officer but not a director, to such further extent as may be provided by the certificate
of incorporation or the bylaws, or by a resolution adopted or a contract approved by the board
of directors or stockholders, except for (i) liability in connection with a proceeding by
or in the right of the corporation other than for expenses incurred in connection with the
proceeding, or (ii) liability arising out of conduct that constitutes (A) receipt by the officer
of a financial benefit to which he or she is not entitled, (B) an intentional infliction of
harm on the corporation or the stockholders, or (C) an intentional violation of criminal law.
(b) Subsection (a)(2) shall apply to an officer who is also a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2A-8.56.htm - 1K - Match Info - Similar pages
10A-2A-8.54
Section 10A-2A-8.54 Court-ordered indemnification and advance for expenses. (a) A director
who is a party to a proceeding because he or she is a director may apply for indemnification
or an advance for expenses to the court conducting the proceeding or to another court of competent
jurisdiction. After receipt of an application and after giving any notice it considers necessary,
the court shall: (1) order indemnification if the court determines that the director is entitled
to mandatory indemnification under Section 10A-2A-8.52; (2) order indemnification or advance
for expenses if the court determines that the director is entitled to indemnification or advance
for expenses pursuant to a provision authorized by Section 10A-2A-8.58(a); or (3) order indemnification
or advance for expenses if the court determines, in view of all the relevant circumstances,
that it is fair and reasonable (i) to indemnify the director, or (ii) to advance expenses
to the director, even if, in the case of (i)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2A-8.54.htm - 2K - Match Info - Similar pages
10A-2A-8.58
Section 10A-2A-8.58 Variation by corporate action; application of division. (a) A corporation
may, by a provision in its certificate of incorporation, bylaws, or in a resolution adopted
or a contract approved by the board of directors or stockholders, obligate itself in advance
of the act or omission giving rise to a proceeding to provide indemnification in accordance
with Section 10A-2A-8.51 or advance funds to pay for or reimburse expenses in accordance with
Section 10A-2A-8.53. Any obligatory provision shall be deemed to satisfy the requirements
for authorization referred to in Section 10A-2A-8.53(c) and in Section 10A-2A-8.55(c). Any
provision that obligates the corporation to provide indemnification to the fullest extent
permitted by law shall be deemed to obligate the corporation to advance funds to pay for or
reimburse expenses in accordance with Section 10A-2A-8.53 to the fullest extent permitted
by law, unless the provision expressly provides otherwise. (b) A right of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2A-8.58.htm - 3K - Match Info - Similar pages
15-22-1.1
Section 15-22-1.1 Interstate Compact for Adult Offender Supervision. Whereas: The Interstate
Compact for the Supervision of Parolees and Probationers was established in 1937, it is the
earliest corrections "compact" established among the states and has not been amended
since its adoption over 62 years ago; Whereas: This compact is the only vehicle for the controlled
movement of adult parolees and probationers across state lines, and it currently has jurisdiction
over more than a quarter of a million offenders; Whereas: The complexities of the compact
have become more difficult to administer, and many jurisdictions have expanded supervision
expectations to include currently unregulated practices such as victim input, victim notification
requirements, and sex offender registration; Whereas: After hearings, national surveys, and
a detailed study by a task force appointed by the National Institute of Corrections, the overwhelming
recommendation has been to amend the document to bring about...
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