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24-1-36
Section 24-1-36 Investment by state, fiduciaries, banks, etc., in bonds, etc., issued by authorities.
Notwithstanding any restrictions on investments contained in any laws of this state, the state
and all public officers, municipal corporations, political subdivisions other than county
and public bodies, all banks, bankers, trust companies, savings banks and institutions, building
and loan associations, savings and loan associations, investment companies, and other persons
carrying on a banking business, all insurance companies, insurance associations, and other
persons carrying on an insurance business and all executors, administrators, guardians, trustees,
and other fiduciaries may legally invest any sinking funds, moneys, or other funds belonging
to them or within their control in any bonds or other obligations issued by a housing authority
pursuant to this article or issued by any public housing authority or agency in the United
States, when such bonds or other obligations are...
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10A-20-12.01
1 for an amendment to a certificate of formation, a declaration in writing signed by them setting
forth: (1) When the corporation was organized, its name and what changes, if any, it is desired
to make in the name; (2) The purposes of the corporation as the same are set forth in the
original declaration of incorporation, and the alterations and the amendments thereof, if
any are desired; (3) If it is desired to increase its powers as to the holding of real estate
in area and value and of personal property in value, the declaration shall set forth
the limitations prescribed as to these matters in the original certificate of formation, and
any amendments heretofore made thereto, and shall also set forth the increase in area of real
property it is desired to acquire and hold, together with the purposes for which it is desired,
and the increase in value of personal property desired to be acquired and held, and
the purpose for which it is desired, and if the purposes as so declared are...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-20-12.01.htm - 3K - Match Info - Similar pages
10A-20-7.02
Section 10A-20-7.02 Incorporation. (a) Five or more financial institutions or persons, a majority
of whom shall be residents of this state, who may desire to create an industrial development
corporation under the provisions of this article for the purpose of promoting, developing,
and advancing the prosperity and economic welfare of the state and, to that end, to exercise
the powers and privileges provided in this article may be incorporated by delivering to the
Secretary of State for filing a certificate of formation. The filing of the certificate shall
be accompanied by a filing fee in the amount prescribed to be paid to the Secretary of State
under Section 10A-1-4.31 in connection with the filing of a certificate of formation. The
certificate of formation shall contain: (1) The name of the corporation which shall include
the words "industrial development corporation of Alabama." (2) The location of the
principal office of the corporation, but the corporation may have offices in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-20-7.02.htm - 5K - Match Info - Similar pages
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-2-2.02
Section 10A-2-2.02 Supplemental provisions required or permitted in articles of incorporation.
REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT
IN THE CURRENT CODE SUPPLEMENT. (a) In addition to the information required to be set forth
in a certificate of formation by Section 10A-1-3.05, articles of incorporation of a corporation
formed under this chapter must set forth: (1) The number of shares the corporation is authorized
to issue; (2) The names and addresses of the individuals who are to serve as the initial directors;
and (3) The purpose or purposes for which the corporation is organized, which may be stated
to be or to include the transaction of any lawful business for which corporations may be incorporated
under this chapter. (b) The articles of incorporation may set forth: (1) Provisions not inconsistent
with law regarding: (i) Reservation to the shareholders of the right to adopt the initial
bylaws of the corporation; (ii) Managing the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-2.02.htm - 2K - Match Info - Similar pages
10A-20-11.01
Section 10A-20-11.01 Alteration, amendment, or extension of charter by incorporated medical,
dental, pharmaceutical, etc., association. (a) Any incorporated medical association of the
State of Alabama, Alabama Dental Association, Alabama Pharmaceutical Association, or other
corporations organized similarly to the corporation or of a similar kind may alter, amend,
or extend its charter, or may do any two or all of these, in the manner following: (1) A written
resolution setting out the name of the corporation and embodying the proposed alterations,
amendments, or extensions shall be submitted to a lawful annual meeting of the corporation
or other lawful meeting of the corporation and adopted by a two-thirds vote of those present
at the meeting and lawfully entitled to vote on business matters coming before the meeting;
(2) The president, or some other executive officer of the corporation, and the secretary thereof
shall prepare, sign, and acknowledge as conveyances are acknowledged and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-20-11.01.htm - 2K - Match Info - Similar pages
10A-2-7.32
to it. (e) An agreement authorized by this section that limits the discretion or powers of
the board of directors shall relieve the directors of, and impose upon the person or persons
in whom the discretion or powers are vested, liability for acts or omissions imposed by law
on directors to the extent that the discretion or powers of the directors are limited by the
agreement. (f) The existence or performance of an agreement authorized by this section shall
not be a ground for imposing personal liability on any shareholder for the acts or
debts of the corporation even if the agreement or its performance treats the corporation as
if it were a partnership or results in failure to observe the corporate formalities otherwise
applicable to the matters governed by the agreement. (g) Incorporators or subscribers for
shares may act as shareholders with respect to an agreement authorized by this section if
no shares have been issued when the agreement is made. (Acts 1994, No. 94-245, p....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-7.32.htm - 5K - Match Info - Similar pages
10A-3-2.31
Section 10A-3-2.31 Bylaws. The initial bylaws of a nonprofit corporation shall be adopted by
its board of directors. The power to alter, amend or repeal the bylaws or adopt new bylaws
shall be vested in the board of directors, unless otherwise provided in the governing documents
of the nonprofit corporation. The bylaws may contain any provisions for the regulation and
management of the affairs of a corporation not inconsistent with law or the certificate of
formation. (Acts 1984, No. 84-290, p. 502, §12; §10-3A-27; amended and renumbered by Act
2009-513, p. 967, §175.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-3-2.31.htm - 894 bytes - Match Info - Similar pages
10A-4-1.03
Section 10A-4-1.03 Definitions. As used in this chapter, unless the context otherwise requires,
the term: (1) DISQUALIFIED PERSON. Any person who is not a qualified person. (2) DOMESTIC
PROFESSIONAL CORPORATION. A corporation for profit or nonprofit organized pursuant to the
provisions of this chapter. (3) FOREIGN PROFESSIONAL CORPORATION. A corporation or unincorporated
association, for profit or nonprofit, organized for the purpose of rendering professional
services under a law other than the law of Alabama. (4) LICENSING AUTHORITY. As defined in
Section 10A-1-1.03(49). (5) PROFESSIONAL SERVICE. As defined in Section 10A-1-1.03(80). (6)
QUALIFIED PERSON. With respect to any domestic professional corporation: a. An individual
who is authorized by law of Alabama or of any qualified state to render a professional service
permitted by the certificate of formation of the professional corporation; b. A general partnership
in which all the partners are qualified persons with respect to the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-4-1.03.htm - 2K - Match Info - Similar pages
10A-2A-1.51
Section 10A-2A-1.51 Filings. (a) If the defective corporate action ratified under this Division
D of Article 1 would have required under any other section of this chapter a filing in accordance
with this chapter, then, regardless of whether a filing was previously made in respect of
such defective corporate action and in lieu of a filing otherwise required by this chapter,
the corporation shall file a certificate of validation in accordance with this section, and
that certificate of validation shall serve to amend or substitute for any other filing with
respect to such defective corporate action required by this chapter. (b) The certificate of
validation must set forth: (1) the defective corporate action that is the subject of the certificate
of validation (including, in the case of any defective corporate action involving the issuance
of putative stock, the number and type of shares of putative stock issued and the date or
dates upon which that putative stock was purported to have...
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