10A-2A-9.01
Section 10A-2A-9.01 Definitions. As used in this Article 9: Notwithstanding Section 10A-1-1.03,
as used in this article, unless the context otherwise requires, the following terms have the
following meanings: (1) "Converted organization" means the organization into which
a converting organization converts pursuant to this article. (2) "Converting corporation"
means a converting organization that is a corporation. (3) "Converting organization"
means an organization that converts into another organization pursuant to this article. (4)
"Governing statute" of an organization means the statute that governs the organization's
internal affairs. (5) "Organization" means a general partnership, including a limited
liability partnership; limited partnership, including a limited liability limited partnership;
limited liability company; business trust; corporation; nonprofit corporation; professional
corporation; or any other person having a governing statute. The term includes domestic and
foreign...
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10A-4-3.06
Section 10A-4-3.06 Directors and officers. At least one director of a domestic professional
corporation and the president of a domestic professional corporation shall be qualified persons
with respect to the corporation; provided, however, that the foregoing restriction shall not
apply for a period of 12 months after the death of the sole shareholder of a domestic professional
corporation. (Acts 1983, No. 83-514, p. 763, §14; §10-4-393; amended and renumbered by Act
2009-513, p. 967, §205.)...
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10A-8A-9.01
Section 10A-8A-9.01 Definitions. Notwithstanding Section 10A-1-1.03, as used in this article,
unless the context otherwise requires, the following terms mean: (1) "Constituent organization"
means an organization that is party to a merger under this article. (2) "Constituent
partnership" means a constituent organization that is a partnership. (3) "Converted
organization" means the organization into which a converting organization converts pursuant
to this article. (4) "Converting organization" means an organization that converts
into another organization pursuant to this article. (5) "Converting partnership"
means a converting organization that is a partnership. (6) "Governing statute" of
an organization means the statute that governs the organization's internal affairs. (7) "Organization"
means a partnership, including a limited liability partnership; limited partnership, including
a limited liability limited partnership; limited liability company; business trust; corporation;...

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10A-9A-10.01
Section 10A-9A-10.01 Definitions. Notwithstanding Section 10A-1-1.03, as used in this article,
unless the context otherwise requires, the following terms mean: (1) "CONSTITUENT LIMITED
PARTNERSHIP" means a constituent organization that is a limited partnership. (2) "CONSTITUENT
ORGANIZATION" means an organization that is party to a merger under this article. (3)
"CONVERTED ORGANIZATION" means the organization into which a converting organization
converts pursuant to this article. (4) "CONVERTING LIMITED PARTNERSHIP" means a
converting organization that is a limited partnership. (5) "CONVERTING ORGANIZATION"
means an organization that converts into another organization pursuant to this article. (6)
"GENERAL PARTNER" means a general partner of a limited partnership. (7) "GOVERNING
STATUTE" of an organization means the statute that governs the organization's internal
affairs. (8) "ORGANIZATION" means a general partnership, including a limited liability
partnership; limited partnership,...
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10A-10-1.23
Section 10A-10-1.23 Treatment of corporate real estate investment trust. A domestic or foreign
corporation or any "qualified REIT subsidiary" of the domestic or foreign corporation
as defined in 26 U.S.C. Section 856(i), otherwise in compliance with the provisions of Chapters
1 and 2, that elects to be treated as a real estate investment trust under 26 U.S.C. Section
856, as amended from time to time, shall compute its Alabama income tax in accordance with
Section 10A-10-1.21. (Acts 1995, No. 95-628, p. 1317, §23; §10-13-23; amended and renumbered
by Act 2009-513, p. 967, §310.)...
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10A-3-7.12
Section 10A-3-7.12 Liquidation - Qualification of receivers. A receiver shall be a natural
person, a partnership, a professional association, a professional corporation, or a business
corporation authorized to act as receiver, which corporation may be a domestic corporation
or a foreign corporation authorized to transact business in Alabama, and shall in all cases
give bond as the court may direct with the sureties the court may require. (Acts 1984, No.
84-290, p. 502, §59; §10-3A-151; amended and renumbered by Act 2009-513, p. 967, §192.)...

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19-3A-106
Section 19-3A-106 Conversion to unitrust. (a) Unless expressly prohibited by the governing
instrument, a trustee may convert a trust into a unitrust as described in this section if
all of the following apply: (1) The trustee has concluded that the conversion will enable
the trustee to better carry out the intent of the settlor or testator and the purposes of
the trust. (2) The trustee gives written notice of the trustee's intention to convert the
trust into a unitrust, including the trustee's initial decisions as set forth below, to all
the qualified beneficiaries. The written notice shall include the following: a. An explanation
of how the unitrust will operate; b. The effective date of the conversion to a unitrust; c.
The unitrust percentage to be used; d. The provisions for prorating a unitrust distribution
for a short year in which a beneficiary's right to payments commences or ceases; e. Whether
the net fair market value of the trust assets will be determined annually or averaged...
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19-3D-18
Section 19-3D-18 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION,
EFFECTIVE JANUARY 1, 2019. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. REMOVAL OR REPLACEMENT
OF AUTHORIZED FIDUCIARY. An authorized fiduciary may not exercise the decanting power to modify
a provision in a first-trust instrument granting another person power to remove or replace
the fiduciary unless: (1) the person holding the power consents to the modification in a signed
record and the modification applies only to the person; (2) the person holding the power and
the qualified beneficiaries of the second trust consent to the modification in a signed record
and the modification grants a substantially similar power to another person; or (3) the court
approves the modification and the modification grants a substantially similar power to another
person. (Act 2018-519, §18.)...
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25-14-3
Section 25-14-3 Definitions. As used in this chapter, the following terms shall have the following
meanings: (1) ADMINISTRATIVE FEE. The fee charged to a client by a professional employer organization
for professional employer services. The term does not include any amount of a fee by the professional
employer organization that is for wages and salaries, benefits, workers' compensation, payroll
taxes, withholding, or other assessments paid by the professional employer organization to
or on behalf of covered employees under the professional employer agreement. (2) CLIENT. A
person or entity that enters into a professional employer agreement with a professional employer
organization, including a worksite employer. (3) CONTROLLING PERSON. Any of the following:
a. An officer or director of a corporation operating as a professional employer organization,
a shareholder holding 25 percent or more of the voting stock of a corporation operating as
a professional employer organization, or a...
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8-22-4
Section 8-22-4 Definitions. The following terms shall have the meanings ascribed to them in
this section unless otherwise stated and unless the context or subject matter clearly indicates
otherwise: (1) PERSON. Any person, firm, association, organization, partnership, business
trust, joint stock company, company, corporation, or legal entity. (2) MOTOR FUEL. Those products
upon which the state excise tax levied, or defined, in Sections 40-17-1 through 40-17-52 and
40-17-170, as amended, is imposed. (3) WHOLESALER. Includes any person qualified as a wholesaler
of motor fuel with the state Revenue Commissioner, and shall also mean and include any person,
other than a buying pool defined herein, wherever resident or located, who brings or causes
to be brought into this state motor fuel purchased directly from the manufacturer thereof.
(4) WHOLESALE DISTRIBUTION. Any person, or the act of any person, including any affiliate
of such person, in commerce within the state, who purchases motor...
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