10A-5-9.03
Section 10A-5-9.03 Vesting of certain rights, privileges, powers, property, liabilities, and duties. REPEALED IN THE 2014 REGULAR SESSION BY ACT 2014-144 EFFECTIVE JANUARY 1, 2017. (a) When any merger has become effective under this chapter, for all purposes of the laws of the state, all the rights, privileges, and powers of each of the domestic limited liability companies and other business entities that have merged, and all property, real, personal, and mixed, and all debts due to any of the domestic limited liability companies and other business entities, as well as all other things and causes of action belonging to each of the domestic limited liability companies and other business entities, shall be vested in the surviving or resulting domestic limited liability company or other business entity, and shall thereafter be the property of the surviving or resulting domestic limited liability company or other business entity as they were of each of the domestic limited liability...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-5-9.03.htm - 2K - Match Info - Similar pages
10A-5A-7.04
Section 10A-5A-7.04 Known claims against dissolved limited liability company. Notwithstanding Sections 10A-1-9.01 and 10A-1-9.21: (a) A dissolved limited liability company may dispose of any known claims against it by following the procedures described in subsection (b) at any time after the effective date of the dissolution of the limited liability company. (b) A dissolved limited liability company may give notice of the dissolution in a record to the holder of any known claim. The notice must: (1) identify the dissolved limited liability company; (2) describe the information required to be included in a claim; (3) provide a mailing address to which the claim is to be sent; (4) state the deadline, which may not be fewer than 120 days from the effective date of the notice, by which the dissolved limited liability company must receive the claim; and (5) state that if not sooner barred, the claim will be barred if not received by the deadline. (c) Unless sooner barred by any other...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-5A-7.04.htm - 2K - Match Info - Similar pages
22-21-33
Section 22-21-33 Penalties for operation of or referring persons to unlicensed hospital. (a)(1) Any individual, association, corporation, partnership, limited liability company, or other business entity who operates or causes to be operated a hospital of any kind as defined in this article or any rules promulgated hereunder, without having been granted a license by the State Board of Health shall be guilty of a Class B misdemeanor upon conviction, except that any individual, association, corporation, partnership, limited liability company, or other business entity who operates or causes to be operated a hospital of any kind as defined in this article or any rules promulgated hereunder without having been granted a license by the State Board of Health shall be guilty of a Class A misdemeanor upon conviction of a second or any subsequent offense. (2) The State Board of Health, upon determination that a facility or business is operating as a hospital, within the meaning of this article or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-33.htm - 7K - Match Info - Similar pages
10-12-35
Section 10-12-35 (Applicable to limited liability companies organized after January 1, 1998, limited liability companies not electing to come under the pre-1997 changes, and to all limited liability companies after December 31, 2000.) Member's financial rights subject to charging order. All provisions of Title 10 have been repealed or transferred to Title 10A, effective January 1, 2011. (Acts 1993, No. 93-724, p. 1425, §35; Act 97-920, 1st Ex. Sess., p. 312, §1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10-12-35.htm - 779 bytes - Match Info - Similar pages
10A-5-5.03
Section 10A-5-5.03 Sharing of profits and losses. REPEALED IN THE 2014 REGULAR SESSION BY ACT 2014-144 EFFECTIVE JANUARY 1, 2017. The profits and losses, income, deductions, and credits, and items of income, deduction, and credits of the limited liability company shall be allocated among the members in the manner provided in the operating agreement. If the operating agreement does not so provide, profits and losses, income, deductions, and credits, and items of income, deductions, and credits shall be allocated on the basis of the pro rata value of the contributions made by each member to the extent they have been made and not returned. (Acts 1993, No. 93-724, p. 1425, §28; §10-12-28; amended and renumbered by Act 2009-513, p. 967, §232.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-5-5.03.htm - 1K - Match Info - Similar pages
10A-5-5.04
Section 10A-5-5.04 Interim distributions of property; impairment of capital. REPEALED IN THE 2014 REGULAR SESSION BY ACT 2014-144 EFFECTIVE JANUARY 1, 2017. (a) Except as provided in this section or in the operating agreement, members are entitled to receive distributions from the limited liability company in proportion to their respective rights to share in profits under Section 10A-5-5.03. (b) Subsection (a) shall not apply to any of the following: (1) Distributions on dissolution. (2) Distributions governed by a contrary provision in the operating agreement. (c) No distribution may be made unless, after the distribution is made, the assets of the limited liability company are sufficient to pay all liabilities of the limited liability company except liabilities to members on account of their contributions. (d) Unless otherwise provided in the operating agreement, a member has no right to receive and may not be required to accept a distribution in kind. (Acts 1993, No. 93-724, p....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-5-5.04.htm - 1K - Match Info - Similar pages
10A-1-1.08
Section 10A-1-1.08 Short titles. (a) The provisions of this title as described by this section may be cited as provided by this section. (b) Chapter 2A and the provisions of Chapter 1 to the extent applicable to business corporations may be cited as the Alabama Business Corporation Law. (c) Chapter 3 and the provisions of Chapter 1 to the extent applicable to nonprofit corporations may be cited as the Alabama Nonprofit Corporation Law. (d) Chapter 4 and the provisions of Chapter 1 to the extent applicable to professional corporations may be cited as the Alabama Professional Corporation Law. (e) Chapter 5A and the provisions of Chapter 1 to the extent applicable to limited liability companies may be cited as the Alabama Limited Liability Company Law. (f) Chapter 8A and the provisions of Chapter 1 to the extent applicable to general partnerships may be cited as the Alabama Partnership Law. (g) Chapter 9A and the provisions of Chapter 1 to the extent applicable to limited partnerships may...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-1-1.08.htm - 2K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2A-9.01.htm - 3K - Match Info - Similar pages
10A-5-6.04
Section 10A-5-6.04 Death or incompetency of member. REPEALED IN THE 2014 REGULAR SESSION BY ACT 2014-144 EFFECTIVE JANUARY 1, 2017. (a) Except as otherwise provided in the governing documents: (1) If a member who is an individual dies or if a court of competent jurisdiction adjudges a member to be incompetent to manage the member's person or property, the member's personal representative, conservator, legal representative, heirs, or legatees may exercise all the member's financial rights for the purpose of settling the member's estate or administering the member's property, including any power the member had to transfer the membership interest. (2) If a member is a corporation, limited liability company, trust, general partnership, limited partnership, registered limited liability partnership, custodianship, or other entity and is dissolved or terminated, the financial rights of that member may be exercised by the legal representative or successor of that member. (b) The personal...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-5-6.04.htm - 2K - Match Info - Similar pages
10A-5A-11.06
Section 10A-5A-11.06 Event causing dissociation of a member associated with a series. A person is dissociated as a member associated with a series when any of the following occurs: (a) the series has notice of the person's express will to dissociate from the series, except if the person specifies a dissociation date later than the date the series had notice, then the person is dissociated from the series on that later date; (b) an event stated in the limited liability company agreement as causing the person's dissociation from the series occurs; (c) the person is dissociated as a member of the limited liability company pursuant to Section 10A-5A-6.02; (d) the person is expelled as a member associated with that series pursuant to the limited liability company agreement; (e) the person is expelled as a member associated with the series by the unanimous consent of the other members associated with that series if: (1) it is unlawful to carry on the series' activities and affairs with the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-5A-11.06.htm - 4K - Match Info - Similar pages
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