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41-10-492
Section 41-10-492 Authority as public corporation. The state Finance Director, the state Budget
Officer and one person appointed by the Governor, one person appointed by the Speaker of the
House and one person appointed by the Lieutenant Governor, may become a public corporation
with the power and authority provided in this article by proceeding according to the provisions
hereof. Those persons appointed by the Governor, Lieutenant Governor and Speaker of the House
shall serve at the pleasure of the official appointing them and until their replacements have
been appointed. The State Treasurer shall be treasurer of the authority, shall act as custodian
of the funds of the authority, and shall pay the principal of and interest on the bonds of
the authority out of the funds hereinafter provided for; provided, that the State Treasurer
may designate one or more banks either within or without the state as the paying agent with
respect to any series of bonds issued under this article. (Acts...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-492.htm - 1K - Match Info - Similar pages
10A-3-2.32
Section 10A-3-2.32 Books and records. Each nonprofit corporation shall keep correct and complete
books and records of account and shall keep minutes of the proceedings of its members, board
of directors and committees having any of the authority of the board of directors; and shall
keep at its registered office or principal office in Alabama a record of the names and addresses
of its members entitled to vote, directors and officers. All books and records of a nonprofit
corporation may be inspected by any member, director or officer, or his or her agent or attorney,
for any proper purpose at any reasonable time. (Acts 1984, No. 84-290, p. 502, §28; §10-3A-43;
amended and renumbered by Act 2009-513, p. 967, §175.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-3-2.32.htm - 1K - Match Info - Similar pages
10A-3-7.18
Section 10A-3-7.18 Survival of remedy after dissolution. The dissolution of a nonprofit corporation
either (1) by the filing of the articles of dissolution by the Secretary of State, or (2)
by an order of court when the court has not liquidated the assets and affairs of the corporation
as provided in this chapter, or (3) by operation of law, or (4) by expiration of its period
of duration, shall not take away or impair any remedy available to or against the nonprofit
corporation, its directors, officers, or members, for any right or claim existing, or any
liability incurred, prior to the dissolution if action or other proceeding thereon is commenced
within two years after the date of the dissolution. Any action or proceeding by or against
the nonprofit corporation may be prosecuted or defended by the nonprofit corporation in its
corporate name. The members, directors, and officers shall have power to take the corporate
or other action as shall be appropriate to protect the remedy,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-3-7.18.htm - 1K - Match Info - Similar pages
10A-3-2.12
Section 10A-3-2.12 Board of directors; committees. If the governing documents of a nonprofit
corporation so provide, the board of directors, by resolution adopted by a majority of the
directors in office, may designate and appoint one or more committees each of which shall
consist of two or more directors, which committees, to the extent provided in the resolution,
or in the governing documents of the nonprofit corporation, shall have and exercise all the
authority of the board of directors, except that no committee shall have the authority of
the board of directors in reference to amending, altering, or repealing the bylaws; electing,
appointing, or removing any member of any committee or any director or officer of the corporation;
amending the certificate of formation, restating the certificate of formation, adopting a
plan of merger or adopting a plan of consolidation with another nonprofit corporation or other
entity authorizing the conversion of the nonprofit corporation into...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-3-2.12.htm - 2K - Match Info - Similar pages
23-1-369
Section 23-1-369 Reports of investigations; limitations on use; prohibitions against compulsion
of testimony. Notwithstanding any other provision of law to the contrary, in order to facilitate
the making of investigations by the director in the interest of public safety and promotion
of aeronautics, the public interest requires, and it is therefore provided, that the reports
of investigations or hearings or any part thereof shall not be admitted in evidence or used
for any purpose in any suit, action, or proceeding growing out of any matter referred to in
the investigation, hearing, or report thereof, except in case of criminal proceedings instituted
on behalf of the department or of the state under this article and other laws of the state
relating to aeronautics, nor shall the director or any officer or employee of the department
be required to testify to any facts ascertained in, or information gained by reason of, his
or her official capacity, or be required to testify as an expert...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-1-369.htm - 1K - Match Info - Similar pages
10A-1-8.01
Section 10A-1-8.01 Conversion of business and nonprofit entities. (a) A conversion of an entity
may be accomplished as provided in this section: (1) CORPORATIONS. a. The terms and conditions
of a plan of conversion of a corporation, other than a nonprofit corporation, must be approved
in accordance with the procedures and by the stockholder vote required by Article 9 of Chapter
2A. If the governing documents provide for approval of a conversion by less than all of a
corporation's stockholders, approval of the conversion shall constitute corporate action subject
to appraisal rights pursuant to Article 13 of Chapter 2A. No conversion of a corporation to
a general or limited partnership may be effected without the consent in writing of each stockholder
who will have personal liability with respect to the converted entity, notwithstanding any
provision in the governing documents of the converting corporation providing for less than
unanimous stockholder approval for the conversion. b. The...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-1-8.01.htm - 18K - Match Info - Similar pages
8-9A-1
Section 8-9A-1 Definitions. As used in this chapter: (1) AFFILIATE. a. A person who directly
or indirectly owns, controls, or holds with power to vote, 20 percent or more of the outstanding
voting securities of the debtor, other than a person who holds the securities, 1. As a fiduciary
or agent without sole discretionary power to vote the securities; or 2. Solely to secure a
debt, if the person has not exercised the power to vote; b. A corporation 20 percent or more
of whose outstanding voting securities are directly or indirectly owned, controlled, or held
with power to vote, by the debtor or a person who directly or indirectly owns, controls, or
holds, with power to vote, 20 percent or more of the outstanding voting securities of the
debtor, other than a person who holds the securities, 1. As a fiduciary or agent without sole
power to vote the securities; or 2. Solely to secure a debt, if the person has not in fact
exercised the power to vote; c. A person whose business is operated...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-9A-1.htm - 5K - Match Info - Similar pages
10A-2-8.63
Section 10A-2-8.63 Shareholders' action. REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94
EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) Shareholders' action
respecting a transaction is effective for purposes of Section 10A-2-8.61(b)(2) if a majority
of the votes entitled to be cast by the holders of all qualified shares were cast in favor
of the transaction after (1) notice to shareholders describing the director's conflicting
interest transactions, (2) provision of the information referred to in subsection (d), and
(3) required disclosure to the shareholders who voted on the transaction, to the extent the
information was not known by them. (b) For purposes of this section, "qualified shares"
means any shares entitled to vote with respect to the director's conflicting interest transaction
except shares that, to the knowledge, before the vote, of the secretary, or other officer
or agent of the corporation authorized to tabulate votes, are beneficially...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-8.63.htm - 2K - Match Info - Similar pages
10A-2A-8.53
Section 10A-2A-8.53 Advance for expenses. (a) A corporation may, before final disposition of
a proceeding, advance funds to pay for or reimburse expenses incurred in connection with the
proceeding by an individual who is a party to the proceeding because that individual is a
director if the director delivers to the corporation a signed written undertaking of the director
to repay any funds advanced if (i) the director is not entitled to mandatory indemnification
under Section 10A-2A-8.52 and (ii) it is ultimately determined under Section 10A-2A-8.54 or
Section 10A-2A-8.55 that the director is not entitled to indemnification. (b) The undertaking
required by subsection (a) must be an unlimited general obligation of the director but need
not be secured and may be accepted without reference to the financial ability of the director
to make repayment. (c) Authorizations under this section shall be made: (1) by the board of
directors: (i) if there are two or more qualified directors, by a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2A-8.53.htm - 2K - Match Info - Similar pages
5-17-8.1
Section 5-17-8.1 Investigatory and enforcement powers of administrator, board, designee, etc.
(a) The administrator or the administrator's designee, in consultation with the agency's legal
counsel acting under the administrator, may administer oaths and may examine under oath any
person whose testimony may be required on the examination of any credit union, or the examination
of any affiliate of a credit union, and shall have authority and power to compel the appearance
and attendance of any such person or the production of any records and documents of any credit
union or any affiliate of a credit union for the purpose of any examination. Attendance or
production may be enforced by order of the Circuit Court, 15th Judicial District. The production
of records, documents, or testimony, whether or not made under oath, by a credit union or
by any of its directors, officers, employees, advisors, consultants, attorneys, or accountants
made for, and at the request of, the administrator upon...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-17-8.1.htm - 4K - Match Info - Similar pages
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