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10A-2-13.24
Section 10A-2-13.24 Share restriction. REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94
EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) Within 20 days
after making a formal payment demand, each shareholder demanding payment shall submit the
certificate or certificates representing his or her shares to the corporation for (1) notation
thereon by the corporation that the demand has been made and (2) return to the shareholder
by the corporation. (b) The failure to submit his or her shares for notation shall, at the
option of the corporation, terminate the shareholders' rights under this article unless a
court of competent jurisdiction, for good and sufficient cause, shall otherwise direct. (c)
If shares represented by a certificate on which notation has been made shall be transferred,
each new certificate issued therefor shall bear similar notation, together with the name of
the original dissenting holder of the shares. (d) A transferee of the shares shall...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-13.24.htm - 1K - Match Info - Similar pages
10A-2-13.30
Section 10A-2-13.30 Court action. REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94
EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) If a demand for
payment under Section 10A-2-13.28 remains unsettled, the corporation shall commence
a proceeding within 60 days after receiving the payment demand and petition the court to determine
the fair value of the shares and accrued interest. If the corporation does not commence the
proceeding within the 60 day period, it shall pay each dissenter whose demand remains unsettled
the amount demanded. (b) The corporation shall commence the proceeding in the circuit court
of the county where the corporation's principal office, or, if none in this state, its registered
office, is located. If the corporation is a foreign corporation without a registered office
in this state, it shall commence the proceeding in the county in this state where the registered
office of the domestic corporation merged with or whose shares were...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-13.30.htm - 3K - Match Info - Similar pages
10A-20-7.10
Section 10A-20-7.10 Rights to shares, bonds, securities, or other evidences of corporate
indebtedness. (a) Notwithstanding any rule at common law, any provision of any general or
special law or any provision in their respective charters, agreements of association, certificate
of formation, or trust indentures: (1) Any person, including all domestic corporations organized
for the purpose of carrying on business within this state, and further including, without
implied limitation, public utility companies, insurance companies, foreign corporations licensed
to do business within this state, all financial institutions, as defined in Section
10A-20-7.01, and all trusts, are hereby authorized to acquire, purchase, hold, sell, assign,
transfer, mortgage, pledge, or otherwise dispose of any bonds, securities, or other evidences
of indebtedness created by, or the shares of the capital stock of, the corporation and, while
owners of the stock, to exercise all the rights, powers, and privileges of...
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15-13-101
Section 15-13-101 Definitions. As used in this article, the following terms shall have
the following meanings, respectively, unless the context clearly indicates otherwise. (1)
APPEARANCE BOND. An appearance bond is an undertaking to pay the clerk of the circuit, district,
or municipal court, for the use of the State of Alabama or the municipality, a specified sum
of money upon the failure of a person released to comply with its conditions. (2) JUDICIAL
OFFICER. Any supreme court, appellate court, circuit court, district court, or municipal court
judge or any magistrate of any court in this state. (3) PROFESSIONAL BAIL COMPANY. A person,
individual proprietor, partnership, corporation, or other entity, other than a professional
surety company, that furnishes bail or becomes surety for a person on an appearance bond and
does so for a valuable consideration. (4) PROFESSIONAL BONDSMAN. An individual person or agent
employed by a professional surety company or professional bail company to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/15-13-101.htm - 1K - Match Info - Similar pages
27-14-3
Section 27-14-3 Insurable interest - Personal insurance; preneed contracts. (a) Insurable
interest with reference to personal insurance is an interest based upon a reasonable expectation
of pecuniary advantage through the continued life, health, or bodily safety of another person
and consequent loss by reason of his or her death or disability or a substantial interest
engendered by love and affection in the case of individuals closely related by blood or by
law. (b) An individual has an unlimited insurable interest in his or her own life, health,
and bodily safety and may lawfully take out a policy of insurance on his or her own life,
health, or bodily safety and have the same made payable to whomsoever he or she pleases, regardless
of whether the beneficiary so designated has an insurable interest. (c) A corporation, foreign
or domestic, has an insurable interest in the life or physical or mental ability of any of
its directors, officers, or employees, or the directors, officers, or...
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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
10A-5-8.01
Section 10A-5-8.01 Special rules for limited liability companies performing professional
services. REPEALED IN THE 2014 REGULAR SESSION BY ACT 2014-144 EFFECTIVE JANUARY 1, 2017.
(a) A limited liability company shall have the power to render professional services if each
member or employee who renders professional services in Alabama is licensed or registered
to render those professional services pursuant to applicable Alabama law and if the limited
liability company complies with the limitations of this section. (b) Every individual
who renders professional services as a member or as an employee of a limited liability company
shall be liable for any negligent or wrongful act or omission in which the individual personally
participates to the same extent the individual would be liable if the individual rendered
the services as a sole practitioner. (c) The personal liability of a member, manager, or other
employee of any limited liability company engaged in providing professional...
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10A-30-2.10
Section 10A-30-2.10 Appointment of a provisional director in certain cases; applicable
to corporations formed as close corporations or electing close corporation status prior to
January, 1 1995. (a) Notwithstanding any contrary provision of the governing documents or
agreement of the shareholders, the circuit court of the county in which the registered office
of the corporation is located may appoint a provisional director for a close corporation if
the directors are so divided respecting the management of the corporation's business and affairs
that the votes required for action by the board of directors cannot be obtained with the consequence
that the business and affairs of the corporation can no longer be conducted to the advantage
of the shareholders generally. (b) An application for relief under this section must
be filed (1) by at least one-half of the number of directors then in office, or (2) by the
holders of at least one-third of all shares then entitled to elect directors,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-30-2.10.htm - 3K - Match Info - Similar pages
10A-2-7.20
Section 10A-2-7.20 Shareholders' list for meeting. REPEALED IN THE 2019 REGULAR SESSION
BY ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a)
After fixing a record date for a meeting, a corporation shall prepare an alphabetical list
of the names of all its shareholders who are entitled to notice of a shareholders' meeting.
The list must be arranged by voting group, and within each voting group by class or series
of shares, and show the address of and number of shares held by each shareholder. (b) The
shareholders' list must be available for inspection by any shareholder, beginning two business
days after notice of the meeting is given for which the list was prepared and continuing through
the meeting, at the corporation's principal office or, if the corporation's principal office
is located outside this state, at its registered office. A shareholder, his or her agent,
or attorney is entitled on written demand to inspect and, for a proper purpose, to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-7.20.htm - 2K - Match Info - Similar pages
37-4-1
Section 37-4-1 Definitions. Unless otherwise specified, when used in this article, these
terms shall have the following meanings: (1) COMMISSION. The Alabama Public Service Commission.
(2) COMMISSIONER. A member of the commission. (3) MUNICIPALITY. Any municipal corporation
organized under the laws of this state. (4) PERSON. Such term shall mean and include individuals,
associations of individuals, firms, partnerships, companies, corporations, municipalities,
governmental agencies, their lessees, trustees, or receivers appointed by any court whatsoever,
in the singular number as well as in the plural. (5) NONUTILITY. Any federal agency, instrumentality,
or corporation, owned by the United States, and any corporation or joint stock company in
which the United States or any of its departments, establishments, or agencies, owns more
than 50 percent of the voting shares of stock of such corporation or joint stock company.
(6) SECURITIES. Such term shall mean and include stock, stock...
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