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10A-30-1.16
Section 10A-30-1.16 Distribution of assets on dissolution; applicable to professional associations
formed prior to January 1, 1984. In the event of dissolution of a stock-type professional
association, the board of governors, as trustees of the property of such professional association,
shall apply the assets first to the payment of debts of the association and, secondly, to
the holders of the stock as provided in the certificate of formation. In the event of dissolution
of a nonstock-type association, the assets shall be distributed, or sold, and the net proceeds
distributed first to the payment of debts of the association and, secondly, to or among the
members of the association, as the certificate of formation shall provide. (Acts 1961, No.
865, p. 1349, §13; §10-10-16; amended and renumbered by Act 2009-513, p. 967, §370.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-30-1.16.htm - 1K - Match Info - Similar pages
10A-30-1.05
Section 10A-30-1.05 Certificate of formation; name of association; dissolution; applicable
to professional associations formed prior to January 1, 1984. Prior to January 1, 1984, person
or persons may form a professional association by executing and recording the certificate
of formation in the office of the judge of probate of the county in which the principal office
of the association is located, and must be by the judge recorded in a book kept for that purpose.
After recording the certificate of formation, the judge of probate shall endorse thereon a
certificate of registration, showing the book and page where recorded, and for services for
recording the certificate shall receive fifteen cents ($.15) for each 100 words of the certificate
of formation and two dollars fifty cents ($2.50) for examining the certificate of formation.
The person or persons forming the association shall adopt such name for the association as
they in their discretion may determine, provided that the name...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-30-1.05.htm - 2K - Match Info - Similar pages
10A-30-1.07
Section 10A-30-1.07 Stock and nonstock associations; nature and transferability of members'
interests; applicable to professional associations formed prior to January 1, 1984. A professional
association organized pursuant to this article may issue stock or certificates of evidence
of ownership of an interest in the assets of the professional association to the members of
a stock-type association, or the association may be a nonstock organization with the members
owning no individual interest in the assets of the association but with the rights and duties
specified in the certificate of formation, or the association may be a nonstock organization
with the members owning undivided interests in the assets of the association according to
the certificate of formation. The stock or certificates of ownership, if a stock-type association,
or a membership in a nonstock association, shall be freely transferable, except as may be
lawfully restricted in the certificate of formation. A professional...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-30-1.07.htm - 2K - Match Info - Similar pages
10A-30-1.15
Section 10A-30-1.15 Continuity of association independent of members or shareholders; applicable
to professional associations formed prior to January 1, 1984. Unless the certificate of formation
expressly provide otherwise, a professional association shall continue as a separate entity
independent of its members or shareholders for all purposes for such period of time as provided
in the certificate of formation or until dissolved by a vote of two thirds of the members,
and shall continue notwithstanding the death, insanity, incompetency, conviction for felony,
resignation, withdrawal, transfer of membership or ownership of shares, retirement, or expulsion
of any one or more of the members or shareholders, the admission or transfer of membership
or shares to any new member, members, shareholder, or shareholders or the happening of any
other event which, under the law of this state and under like circumstances, would work a
dissolution of the partnership, it being the aim and intention...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-30-1.15.htm - 1K - Match Info - Similar pages
11-50-316
Section 11-50-316 Execution, sale, etc., of bonds and refunding bonds of corporation; terms,
denominations, etc., thereof; charge, application, etc., of revenues from systems for payment
of bonds, etc., generally; vesting of title to systems in municipality and dissolution of
corporation upon payment of bonds in full, etc. (a) All bonds issued by any such corporation
organized or the certificate of incorporation of which is amended under this article shall
be signed by the chairman of the board of directors or other chief executive officer and attested
by its secretary, and the seal of such corporation shall be affixed thereto; provided that,
if authorized by the board of directors of such corporation, said bonds may be executed with
an engraved, imprinted, stamped, or otherwise reproduced facsimile of any signature or seal
in lieu of a manually made signature or manually made impressment of the seal; provided further,
that at least one signature required or permitted to be placed...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50-316.htm - 5K - Match Info - Similar pages
8-6-10
Section 8-6-10 Registration of securities - Exempt securities. Sections 8-6-4 through 8-6-9
shall not apply to any of the following securities: (1) Any security, including a revenue
obligation, issued or guaranteed by the United States, any state, any political subdivision
of a state, any agency, corporate, or other instrumentality of one or more of the foregoing;
or any certificate of deposit for any of the foregoing. (2) Any security issued or guaranteed
by Canada, any Canadian province, any political subdivision of any province, any agency, corporate,
or other instrumentality of one or more of the foregoing or any other foreign government with
which the United States currently maintains diplomatic relations if the security is recognized
as a valid obligation by the issuer or guarantor. (3) Any security issued by and representing
an interest in or a debt of, or guaranteed by, any bank organized under the laws of the United
States or any bank, savings institution, or trust company...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-6-10.htm - 7K - Match Info - Similar pages
22-21-318
Section 22-21-318 Powers of authority. (a) In addition to all other powers granted elsewhere
in this article, and subject to the express provisions of its certificate of incorporation,
an authority shall have the following powers, together with all powers incidental thereto
or necessary to the discharge thereof in corporate form: (1) To have succession by its corporate
name for the duration of time, which may be in perpetuity, specified in its certificate of
incorporation or until dissolved as provided in Section 22-21-339; (2) To sue and be sued
in its own name in civil suits and actions, and to defend suits and actions against it, including
suits and actions ex delicto and ex contractu, subject, however, to the provisions of Chapter
93 of Title 11, which chapter is hereby made applicable to the authority; (3) To adopt and
make use of a corporate seal and to alter the same at pleasure; (4) To adopt, alter, amend
and repeal bylaws, regulations and rules, not inconsistent with the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-318.htm - 12K - Match Info - Similar pages
35-12-72
Section 35-12-72 Presumption of abandonment. (a) Property is presumed abandoned if it is unclaimed
by the apparent owner during the time set forth below for the particular property: (1) Traveler's
checks, 15 years after issuance. (2) Money order, five years after issuance. (3) A demand,
savings, or time deposit including a deposit that is automatically renewable, three years
after the earlier of maturity, as extended from time to time, or the date of the last indication
by the apparent owner of interest in the property. (4) Tangible and intangible property held
in a safe deposit box or other safekeeping depository in this state in the ordinary course
of the holder's business and proceeds resulting from the sale of the property permitted by
other law, three years after expiration of the lease or rental period on the box or other
depository. (5) Money or credits owed to a customer as a result of a retail business transaction,
one year after the obligation accrued. (6) Property in an...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-12-72.htm - 8K - 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
40-23-4
Section 40-23-4 Exemptions. (a) There are exempted from the provisions of this division and
from the computation of the amount of the tax levied, assessed, or payable under this division
the following: (1) The gross proceeds of the sales of lubricating oil and gasoline as defined
in Sections 40-17-30 and 40-17-170 and the gross proceeds from those sales of lubricating
oil destined for out-of-state use which are transacted in a manner whereby an out-of-state
purchaser takes delivery of such oil at a distributor's plant within this state and transports
it out-of-state, which are otherwise taxed. (2) The gross proceeds of the sale, or sales,
of fertilizer when used for agricultural purposes. The word "fertilizer" shall not
be construed to include cottonseed meal, when not in combination with other materials. (3)
The gross proceeds of the sale, or sales, of seeds for planting purposes and baby chicks and
poults. Nothing herein shall be construed to exempt or exclude from the computation of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-23-4.htm - 34K - Match Info - Similar pages
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