10A-2-14.34
Section 10A-2-14.34 Election to purchase in lieu of dissolution. REPEALED IN THE 2019 REGULAR
SESSION BY ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.
(a) In a proceeding under Section 10A-2-14.30(2) to dissolve a corporation that has no shares
listed on a national securities exchange or regularly traded in a market maintained by one
or more members of a national or affiliated securities association, the corporation may elect
or, if it fails to elect, one or more shareholders may elect to purchase all shares owned
by the petitioning shareholder at the fair value of the shares. An election pursuant to this
section shall be irrevocable unless the court determines that it is equitable to set aside
or modify the election. (b) An election to purchase pursuant to this section may be filed
with the court at any time within 90 days after the filing of the petition under Section 10A-2-14.30(2)
or at a later time as the court in its discretion may allow. If...
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10A-2-8.09
Section 10A-2-8.09 Removal of directors by judicial proceeding. REPEALED IN THE 2019 REGULAR
SESSION BY ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.
(a) The circuit court of the county where a corporation's principal office, or, if none in
this state, its registered office, is located may remove a director of the corporation from
office in a proceeding commenced either by the corporation or by its shareholders holding
at least 10 percent of the outstanding shares of any class if the court finds that (1) the
director engaged in fraudulent or dishonest conduct, or gross abuse of authority or discretion,
with respect to the corporation and (2) removal is in the best interest of the corporation.
(b) The court that removes a director may bar the director from reelection for a period prescribed
by the court. (c) If shareholders commence a proceeding under subsection (a), they shall make
the corporation a party defendant. (Acts 1994, No. 94-245, p. 343,...
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10A-5-7.02
Section 10A-5-7.02 Judicial dissolution. REPEALED IN THE 2014 REGULAR SESSION BY ACT 2014-144
EFFECTIVE JANUARY 1, 2017. On application by or for a member, the circuit court for the county
in which the certificate of formation is filed may decree dissolution of a limited liability
company whenever it is not reasonably practicable to carry on the business in conformity with
the governing documents. (Acts 1993, No. 93-724, p. 1425, §38; §10-12-38; amended and renumbered
by Act 2009-513, p. 967, §236.)...
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10A-2-10.08
Section 10A-2-10.08 Amendment pursuant to reorganization. REPEALED IN THE 2019 REGULAR SESSION
BY ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a)
A corporation's articles of incorporation may be amended without action by the board of directors
or shareholders to carry out a plan of reorganization ordered or decreed by a court of competent
jurisdiction under federal statute if the articles of incorporation after amendment contain
only provisions required or permitted by Section 10A-2-2.02. (b) The individual or individuals
designated by the court shall deliver to the judge of probate for filing articles of amendment
setting forth: (1) The name of the corporation; (2) The text of each amendment approved by
the court; (3) The date of the court's order or decree approving the articles of amendment;
(4) The title of the reorganization proceeding in which the order or decree was entered; and
(5) A statement that the court had jurisdiction of the...
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9-11-252.1
Section 9-11-252.1 Motor vehicle, weapons, etc., used in nighttime deer hunting declared contraband;
seizure report; condemnation and forfeiture; disposition of proceeds. (a) Any motor vehicle,
or any gun, rifle, ammunition or other hunting equipment which has been or is used for illegal
nighttime deer hunting shall be contraband, and, in the discretion of the circuit court may
be forfeited to the State of Alabama, as hereinafter provided. (b) The sheriff or any other
person authorized to enforce the game and fish laws of this state who apprehends any person
hunting deer in the nighttime, or who finds any vehicle which is being or has been used in
such illegal nighttime hunting shall seize such vehicle and any gun, rifle, ammunition or
other deer hunting equipment found in the possession of or on the person of such person or
in or on such vehicle and shall report such seizure and the facts connected therewith to the
district attorney or other prosecuting official in the judicial...
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32-5A-204
Section 32-5A-204 Court to inform defendant convicted of violating §32-5A-191 that vehicle
subject to forfeiture if driven on highway. Repealed by Act 98-470, § 2, effective May 1,
1998. (Acts 1995, No. 95-580, p. 1219, §5.)...
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10A-2-14.23
Section 10A-2-14.23 Appeal from denial of reinstatement. REPEALED IN THE 2019 REGULAR SESSION
BY ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a)
If the Secretary of State denies a corporation's application for reinstatement following administrative
dissolution, he or she shall serve the corporation under Section 10A-1-5.31, 10A-1-5.35, or
10A-1-5.36 with a written notice that explains the reason or reasons for denial. (b) The corporation
may appeal the denial of reinstatement to the circuit court of the county where its articles
of incorporation are filed within 30 days after service of the notice of denial is perfected.
A corporation created by an act of the Legislature prior to the adoption of the Constitution
of Alabama of 1901, or which resulted from a merger or consolidation, may appeal to the Circuit
Court of Montgomery County. The corporation appeals by petitioning the court to set aside
the dissolution and attaching to the petition copies...
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10A-2-16.20
Section 10A-2-16.20 Financial statements for shareholders. REPEALED IN THE 2019 REGULAR SESSION
BY ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a)
A corporation shall furnish its annual financial statements to each shareholder who requests
a statement, which may be consolidated or combined statements of the corporation and one or
more of its subsidiaries, as appropriate, that include a balance sheet as of the end of the
fiscal year, an income statement for that year, and a statement of changes in shareholders'
equity for the year unless that information appears elsewhere in the financial statements.
If financial statements are prepared for the corporation on the basis of generally accepted
accounting principles, the annual financial statements must also be prepared on that basis.
If the financial statements for the corporation are not prepared on the basis of generally
accepted accounting principles, the annual financial statements furnished...
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35-12-88
Section 35-12-88 Periods of limitation. (a) The expiration, before or after May 12, 2004, of
a period of limitation on the owner's right to receive or recover property, whether specified
by contract, statute, or court order, does not preclude the property from being presumed abandoned
or affect a duty to file a report or to pay or deliver or transfer property to the Treasurer
as required by this article. (b) An action or proceeding may not be maintained by the Treasurer
to enforce this article in regard to the reporting, delivery, or payment of property more
than 10 years after the holder specifically identified the property in a report filed with
the Treasurer or gave express notice to the Treasurer of a dispute regarding the property.
In the absence of such a report or other express notice, the period of limitation is tolled.
The period of limitation is also tolled by the filing of a report that is fraudulent. (Act
2004-440, p. 755, §1.)...
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10A-5-6.06
Section 10A-5-6.06 Cessation of membership. REPEALED IN THE 2014 REGULAR SESSION BY ACT 2014-144
EFFECTIVE JANUARY 1, 2017. (a) A person ceases to be a member of a limited liability company
upon the occurrence of one or more of the following events: (1) The member ceases to be a
member by voluntary act as provided in subsection (d). (2) The member ceases to be a member
of the limited liability company as provided in Section 10A-5-6.03. (3) The member is removed
as a member in either of the following manners: a. In accordance with the operating agreement.
b. Subject to contrary provisions in the operating agreement, when the member assigns all
of the member's interest in the limited liability company, by an affirmative vote of a majority
in number of the members who have not assigned their interests. (b) Subject to contrary provisions
in the operating agreement, or written consent of all members at the time, a person ceases
to be a member upon the occurrence of one or more of the...
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