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10A-9A-8.09
Section 10A-9A-8.09 Disposition of assets, when contributions required. Notwithstanding Section
10A-1-9.12, upon the winding up of a limited partnership, the assets of the limited partnership,
including any obligation under Article 5 of this chapter, and any contribution required by
this section, shall be applied as follows: (a) Payment, or adequate provision for payment,
shall be made to creditors, including, to the extent permitted by law, partners who are creditors,
in satisfaction of liabilities of the limited partnership. (b) After a limited partnership
complies with subsection (a), any surplus must be distributed: (1) first, to each person owning
a transferable interest that reflects contributions made on account of the transferable interest
and not previously returned, an amount equal to the value of the person's unreturned contributions;
and (2) then to each person owning a transferable interest in the proportions in which the
owners of transferable interests share in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-9A-8.09.htm - 3K - Match Info - Similar pages
10A-9A-4.06
Section 10A-9A-4.06 Management rights of general partner. (a) Each general partner has equal
rights in the management and conduct of the limited partnership's activities and affairs.
Except as expressly provided in this chapter, any matter relating to the activities and affairs
of the limited partnership is decided exclusively by the general partner or, if there is more
than one general partner, by a majority of the general partners. (b) The consent of all of
the partners is necessary to: (1) amend the partnership agreement; (2) amend the certificate
of formation to add or delete a statement that the limited partnership is a limited liability
limited partnership; and (3) sell, lease, exchange, or otherwise dispose of all, or substantially
all, of the limited partnership's property, with or without the good will, other than in the
usual and regular course of the limited partnership's activities and affairs. (c) A limited
partnership shall reimburse a general partner for payments made...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-9A-4.06.htm - 2K - Match Info - Similar pages
10A-9A-4.07
Section 10A-9A-4.07 Right of general partner and former general partner to information. Notwithstanding
Sections 10A-1-3.32 and 10A-1-3.33: (a) Subject to subsection (f), a general partner, without
having any particular purpose for seeking the information, may inspect and copy during regular
business hours at a reasonable location specified by the limited partnership, required information
and any other records maintained by the limited partnership regarding the limited partnership's
activities and affairs and financial condition. (b) Subject to subsection (f), each general
partner and the limited partnership shall furnish to a general partner: (1) without demand,
any information concerning the limited partnership's activities and affairs and activities
and affairs reasonably required for the proper exercise of the general partner's rights and
duties under the partnership agreement or this chapter; and (2) on demand, any other information
concerning the limited partnership's activities...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-9A-4.07.htm - 4K - Match Info - Similar pages
8-8-5
Section 8-8-5 Maximum rates of interest - Loans, credit sales, etc., of $2,000 or more to individuals,
corporations, trusts, partnerships, or associations. (a) Any person or persons, corporations,
trust, general partnership or partnerships, limited partnership or partnerships, or association
may agree to pay such rate or rates of interest for the loan or forbearance of money and for
any credit sales as such person, corporation, trust, general partnership, limited partnership,
or association may determine, notwithstanding any law of this state otherwise prescribing
or limiting such rate or rates of interest; provided, that the original principal balance
of the loan or forbearance of money or credit sales is not less than $2,000; provided further,
that all laws relating to unconscionability in consumer transactions including but not limited
to the provisions of Chapter 19 of Title 5, known as the Mini-Code, shall apply to transactions
covered by this section. (b) As to any such loan or...
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40-18-24.2
Section 40-18-24.2 Taxation of pass-through entities. (a) For purposes of this section and
Section 40-18-24.3, the following terms shall have the following meanings: (1) MEMBER. An
individual, estate, trust or business trust as defined in Section 40-18-1, a corporation as
defined in Section 40-18-1, or Subchapter K entity as defined in Section 40-18-1, that is
a partner in a general, limited, limited liability, or limited liability limited partnership,
or a member of a limited liability company. (2) NONRESIDENT. a. An individual who is not a
resident of or domiciled in this state during the applicable tax year. b. A nonresident trust
as defined in Section 40-18-1. c. A nonresident estate as defined in Section 40-18-1. d. A
foreign corporation as defined in Section 40-18-1, not commercially domiciled in this state
during the applicable tax year. e. A Subchapter K entity or business trust that is created
or organized under the laws of a jurisdiction other than this state and that is not...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-24.2.htm - 7K - Match Info - Similar pages
10A-8A-8.07
Section 10A-8A-8.07 Other claims against dissolved partnership. Notwithstanding Sections 10A-1-9.01
and 10A-1-9.22: (a) A dissolved partnership may publish notice of its dissolution and request
that persons with claims against the dissolved partnership present them in accordance with
the notice. (b) The notice authorized by subsection (a) must: (1) be published at least one
time in a newspaper of general circulation in the county in which the dissolved partnership's
principal office in this state is located, and if none, was last located; (2) describe the
information that must be included in a claim and provide a mailing address to which the claim
is to be sent; (3) state that if not sooner barred, a claim against the dissolved partnership
will be barred unless a proceeding to enforce the claim is commenced within two years after
the publication of the notice; and (4) unless the partnership has been throughout its existence
a limited liability partnership, state that the barring of a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-8A-8.07.htm - 5K - Match Info - Similar pages
22-21-270
Section 22-21-270 Certificates of need - Period for which valid; extension of time; termination;
transferability. (a) A certificate of need issued under subsection (a) of Section 22-21-265
and Section 22-21-268 shall be valid for a period not to exceed 12 months and may be subject
to one extension not to exceed 12 months, provided the criteria for extension as set forth
in the rules and regulations of the SHPDA are met. Applications for an extension filed under
this section shall be accompanied by a filing fee to be established by rule, not to exceed
25 percent of the original CON application fee. If no obligation has occurred within such
period, the certificate of need shall be considered terminated and shall be null and void.
Should the obligation be incurred within such valid period, the certificate of need shall
be continued in effect for a period not to exceed one year or the completion of the construction
project, whichever shall be later, or the inauguration of the service or...
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4-3-45
Section 4-3-45 Board of directors of authority. Each authority shall be governed by a board
of directors of either three, five, or seven members as provided in the certificate of incorporation
or the bylaws. If the sole authorizing subdivision is a county, the county commission of the
county shall elect all directors. If the sole authorizing subdivision is a municipality, the
governing body of such municipality shall elect all directors. The directors initially elected
shall be elected for terms of office of two, four, and six years, respectively, and their
successors shall be elected for terms of six years. If a county and a municipality are both
authorizing subdivisions, the governing body of the municipality shall elect one director
for an initial term of two years if three directors are to be elected, and one director for
an initial term of two years and one director for an initial term of four years if five directors
are to be elected, and one for an initial term of two years and...
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40-14B-1
Section 40-14B-1 Definitions. As used in this chapter, the following terms shall have the following
meanings: (1) AFFILIATE. An affiliate of another person shall include any of the following:
a. A person who directly or indirectly either: 1. Beneficially owns 15 percent or more of
the outstanding voting securities or other voting ownership interests of the other person,
whether through rights, options, convertible interests, or otherwise; or 2. Controls or holds
power to vote 15 percent or more of the outstanding voting securities or other voting ownership
interests of the other person. b. A person owning 15 percent or more of the outstanding voting
securities or other voting ownership interests of which are directly or indirectly either:
1. Beneficially owned by the other person, whether through rights, options, convertible interests,
or otherwise; or 2. Controlled or held with power to vote by the other person. c. A partnership
or limited liability company in which the other person...
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7-7-210
Section 7-7-210 Enforcement of warehouse's lien. (a) Except as otherwise provided in subsection
(b), a warehouse's lien may be enforced by public or private sale of the goods, in bulk or
in packages, at any time or place and on any terms that are commercially reasonable, after
notifying all persons known to claim an interest in the goods. The notification must include
a statement of the amount due, the nature of the proposed sale, and the time and place of
any public sale. The fact that a better price could have been obtained by a sale at a different
time or in a method different from that selected by the warehouse is not of itself sufficient
to establish that the sale was not made in a commercially reasonable manner. The warehouse
sells in a commercially reasonable manner if the warehouse sells the goods in the usual manner
in any recognized market therefor, sells at the price current in that market at the time of
the sale, or otherwise sells in conformity with commercially reasonable...
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