10A-20-6.02
Section 10A-20-6.02 Incorporation. (a) The incorporators of any corporation to be governed by this article shall prepare and deliver to the Secretary of State for filing a certificate of formation stating an intention to become a corporation, which certificate of formation shall be signed by each of the incorporators and shall set forth: (1) The name of the proposed corporation; (2) The objects and purposes for which the corporation is organized; (3) The location of the principal office of the corporation in this state; and (4) The name and post office address of each incorporator, not less than three in number. (b) The certificate of formation may also contain any other provisions, not inconsistent with the provisions of this article, which the incorporators may desire to insert for the regulation of the business or affairs of the corporation or which would be permitted nonprofit corporations by the Alabama Nonprofit Corporation Law. The filing of the certificate of formation shall be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-20-6.02.htm - 1K - Match Info - Similar pages
10A-2A-1.48
Section 10A-2A-1.48 Action on ratification. (a) The quorum and voting requirements applicable to a ratifying action by the board of directors under Section 10A-2A-1.47(a) shall be the quorum and voting requirements applicable to the corporate action proposed to be ratified at the time such ratifying action is taken. (b) If the ratification of the defective corporate action requires approval by the stockholders under Section 10A-2A-1.47(c), and if the approval is to be given at a meeting, the corporation shall notify each holder of valid and putative stock, regardless of whether entitled to vote, as of the record date for notice of the meeting and as of the date of the occurrence of defective corporate action, provided that notice shall not be required to be given to holders of valid or putative stock whose identities or addresses for notice cannot be determined from the records of the corporation. The notice must state that the purpose, or one of the purposes, of the meeting, is to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2A-1.48.htm - 3K - Match Info - Similar pages
27-3-4
thorough investigation, to be incompetent or untrustworthy, or so lacking in insurance company managerial experience as to make the proposed operation hazardous to the insurance-buying public or which, after thorough examination or investigation, he has good reason to believe is affiliated directly or indirectly through ownership, control, reinsurance transactions, or other insurance or business relations with any person, or persons, whose business operations are, or have been, marked to the injury of insurers, stockholders, policyholders, creditors, or the public by manipulation of assets, of accounts or of reinsurance or by bad faith; (4) No insurer the voting control of which is held, in whole or substantial part, by any government or governmental agency shall be authorized to transact insurance in this state. Membership in a mutual insurer or subscribership in a reciprocal insurer shall not be deemed to be either an ownership or control of the insurer for the purposes of this...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-3-4.htm - 3K - Match Info - Similar pages
27-44-10
Section 27-44-10 Submission of plan of operation and amendments; promulgation of rules in absence of plan. (a)(1) The association shall submit to the commissioner a plan of operation and any amendments thereto necessary or suitable to assure the fair, reasonable, and equitable administration of the association. The plan of operation and any amendments thereto shall become effective upon approval in writing by the commissioner. (2) If the association fails to submit a suitable plan of operation within 180 days following January 1, 1983, or if at any time thereafter the association fails to submit suitable amendments to the plan, the commissioner shall, after notice and hearing, adopt and promulgate such reasonable rules as are necessary or advisable to effectuate the provisions of this chapter. Such rules shall continue in force until modified by the commissioner or superseded by a plan submitted by the association and approved by the commissioner. (b) All member insurers shall comply...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-44-10.htm - 3K - Match Info - Similar pages
10A-2-13.21
Section 10A-2-13.21 Notice of intent to demand payment. REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) If proposed corporate action creating dissenters' rights under Section 10A-2-13.02 is submitted to a vote at a shareholder's meeting, a shareholder who wishes to assert dissenters' rights (1) must deliver to the corporation before the vote is taken written notice of his or her intent to demand payment or his or her shares if the proposed action is effectuated; and (2) must not vote his or her shares in favor of the proposed action. (b) A shareholder who does not satisfy the requirements of subsection (a) is not entitled to payment for his or her shares under this article. (Acts 1994, No. 94-245, p. 343, §1; §10-2B-13.21; amended and renumbered by Act 2009-513, p. 967, §141.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-13.21.htm - 1K - Match Info - Similar pages
10A-20-7.09
Section 10A-20-7.09 Powers of stockholders and members. (a) The stockholders and the members of the corporation shall have the following powers of the corporation: (1) To determine the number of and elect directors as provided in Section 10A-20-7.07. (2) To make, amend, and repeal bylaws. (3) To amend this charter as provided in Section 10A-20-7.20. (4) To dissolve the corporation as provided in Section 10A-20-7.22. (5) To do all things necessary or desirable to secure aid, assistance loans, and other financing from any financial institutions and from any agency established under the Small Business Investment Act of 1958, or other similar federal laws now or hereafter enacted. (6) To exercise the other of the powers of the corporation consistent with this article as may be conferred on the stockholders and the members by the bylaws. (b) As to all matters requiring action by the stockholders and the members of the corporation, the stockholders and members shall vote separately thereon...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-20-7.09.htm - 2K - Match Info - Similar pages
11-91A-5
Section 11-91A-5 Meetings; quorum; reimbursement of expenses; board as body corporate. (a) The organizational meeting of the board shall be set no later than October 1, 2014, by the Chief Executive Officer of the SEIB. The first order of business at the organizational meeting shall be the election of a chair and vice chair by majority vote of the membership of the board. The Chief Executive Officer of the SEIB shall call the meeting to order and preside only until the chair and vice chair are elected. Thereafter, the board shall annually elect a chair and vice chair by majority vote of the membership of the board, provided that any chair or vice chair may be re-elected and serve successive terms as chair or vice chair. (b) A majority of the members of the board shall constitute a quorum for the transaction of business and each member shall be entitled to one vote on all matters. Except where otherwise provided, a majority vote of the board members present shall be necessary for a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-91A-5.htm - 2K - Match Info - Similar pages
22-21-341
Section 22-21-341 Reincorporation of existing corporations. Any public hospital corporation may be reincorporated under this article, avail itself of all rights, powers and privileges and become subject to all duties, obligations and responsibilities conferred or imposed by this article, in the following manner: (1) The board of directors or other governing body of such public hospital corporation shall adopt a resolution stating that it proposes and applies for permission to reincorporate hereunder and containing a form of proposed certificate of reincorporation, which such certificate of reincorporation shall include, with the necessary changes in detail, the information required to be included in a certificate of incorporation described in Section 22-21-314 other than that referred to in subdivision (b) (1) thereof. (2) Such public hospital corporation shall as promptly as practicable thereafter file a certified copy of such resolution with the governing body of each county or...
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27-27-43
Section 27-27-43 Mutualization of stock insurers. (a) A stock insurer other than a title insurer may become a mutual insurer under such plan and procedure as may be approved by the commissioner after a hearing thereon. (b) The commissioner shall not approve any such plan, procedure, or mutualization unless: (1) It is equitable to stockholders and policyholders; (2) It is subject to approval by the holders of not less than three-fourths of the insurer's outstanding capital stock having voting rights and by not less than three-fourths of the insurer's policyholders who vote on such plan in person, by proxy, or by mail pursuant to such notice and procedure as may be approved by the commissioner; (3) If a life insurer, the right to vote thereon is limited to holders of policies other than term or group policies and whose policies have been in force for more than one year; (4) Mutualization will result in retirement of shares of the insurer's capital stock at a reasonable price as specified...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-27-43.htm - 2K - Match Info - Similar pages
27-42-9
Section 27-42-9 Plan of operation. (a) The association shall submit to the commissioner a plan of operation and any amendments thereto necessary or suitable to assure the fair, reasonable, and equitable administration of the association. The plan of operation and any amendments thereto shall become effective upon approval in writing by the commissioner. If the association fails to submit a suitable plan of operation within 90 days following January 1, 1981, or if at any time thereafter the association fails to submit suitable amendments to the plan, the commissioner shall, after notice and hearing, adopt and promulgate such reasonable rules as are necessary or advisable to effectuate the provisions of this chapter. Such rules shall continue in force until modified by the commissioner or superseded by a plan submitted by the association and approved by the commissioner. (b) All member insurers shall comply with the plan of operation. (c) The plan of operation shall: (1) Establish...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-42-9.htm - 3K - Match Info - Similar pages
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