10A-2-14.40
Section 10A-2-14.40 Deposit with State Treasurer. REPEALED IN THE 2019 REGULAR SESSION BY ACT
2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. Assets of a
dissolved corporation that should be transferred to a creditor, claimant, or shareholder of
the corporation who cannot be found or who is not competent to receive them shall be reduced
to cash and deposited with the State Treasurer for safekeeping. When the creditor, claimant,
or shareholder furnishes satisfactory proof of entitlement to the amount deposited, the State
Treasurer shall pay him or her or his or her representative that amount. The assets shall
be held for the owner by the State Treasurer for three years and any assets which remain unclaimed
by the owner after three years shall be presumed abandoned and subject to the provisions of
the Uniform Disposition of Unclaimed Property Act. (Acts 1994, No. 94-245, p. 343, §1; §10-2B-14.40;
amended and renumbered by Act 2009-513, p. 967, §151.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-14.40.htm - 1K - Match Info - Similar pages

10A-2-15.40
Section 10A-2-15.40 Definitions. REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE
JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. The term "foreign corporation,"
as used in this division, shall mean: (1) Any bank or other corporation now or hereafter organized
or existing under the laws of any state of the United States other than the State of Alabama;
and (2) Any national banking association or other corporation organized under the laws of
the United States having its principal place of business in any state of the United States
other than Alabama. (Acts 1994, No. 94-245, p. 343, §1; §10-2B-15.40; amended and renumbered
by Act 2009-513, p. 967, §159.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-15.40.htm - 1K - Match Info - Similar pages

10A-2-16.03
Section 10A-2-16.03 Scope of inspection right. REPEALED IN THE 2019 REGULAR SESSION BY ACT
2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) A shareholder's
agent or attorney has the same inspection and copying rights as the shareholder he or she
represents. (b) The right to copy records under Section 10A-2-16.02 includes, if reasonable,
the right to receive copies made by photographic, xerographic, or other means. (c) The corporation
may impose a reasonable charge, covering the costs of labor and material, for copies of any
documents provided to the shareholder. The charge may not exceed the estimated cost of reproduction
of the records. (d) The corporation may comply with a shareholder's demand to inspect the
record of shareholders under Section 10A-2-16.02(b) by providing him or her with a list of
its shareholders that was compiled no earlier than the date of the shareholder's demand. (Acts
1994, No. 94-245, p. 343, §1; §10-2B-16.03; amended and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-16.03.htm - 1K - Match Info - Similar pages

10A-2-16.21
Section 10A-2-16.21 Other reports to shareholders. REPEALED IN THE 2019 REGULAR SESSION BY
ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. If a corporation
indemnifies or advances expenses to a director under Section 10A-2-8.51, 10A-2-8.53, or 10A-2-8.54,
or under Article 6 of Chapter 1, or under any other provision of this title, in connection
with a proceeding by or in the right of the corporation, the corporation shall report the
indemnification or advance in writing to the shareholders with or before the notice of the
next shareholders' meeting. (Acts 1994, No. 94-245, p. 343, §1; §10-2B-16.21; amended and
renumbered by Act 2009-513, p. 967, §163.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-16.21.htm - 1K - Match Info - Similar pages

10A-2-2.05
Section 10A-2-2.05 Organization of corporation. REPEALED IN THE 2019 REGULAR SESSION BY ACT
2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) After incorporation
the initial directors shall hold an organizational meeting, at the call of a majority of the
directors, to complete the organization of the corporation by appointing officers, adopting
bylaws, unless the power to adopt initial bylaws has been reserved to the shareholders in
the articles of incorporation, and carrying on any other business brought before the meeting.
(b) An organization meeting may be held in or out of this state. (Acts 1994, No. 94-245, p.
343, §1; §10-2B-2.05; amended and renumbered by Act 2009-513, p. 967, §89.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-2.05.htm - 1K - Match Info - Similar pages

10A-2-2.06
Section 10A-2-2.06 Bylaws. REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE JANUARY
1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) The board of directors of a corporation
shall adopt initial bylaws for the corporation unless the right to adopt the initial bylaws
is reserved to the shareholders in the articles of incorporation. (b) The bylaws of a corporation
may contain any provision for managing the business and regulating the affairs of the corporation
that is not inconsistent with law or the articles of incorporation. (Acts 1994, No. 94-245,
p. 343, §1; §10-2B-2.06; amended and renumbered by Act 2009-513, p. 967, §89.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-2.06.htm - 991 bytes - Match Info - Similar pages

10A-2-6.02
Section 10A-2-6.02 Terms of class or series determined by board of directors. 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 articles of incorporation so provide, and if the action is not
inconsistent with the provisions of the Constitution of Alabama of 1901, as the same may be
amended from time to time, the board of directors may determine, in whole or in part, the
preferences, limitations, and relative rights, within the limits set forth in Section 10A-2-6.01,
of: (1) any class of shares before the issuance of any shares of that class; or (2) one or
more series within a class before the issuance of any shares of that series. (b) Each series
of a class must be given a distinguishing designation. (c) All shares of a series must have
preferences, limitations, and relative rights identical with those of other shares of the
same series, and except to the extent otherwise provided in the description of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-6.02.htm - 2K - Match Info - Similar pages

10A-2-6.03
Section 10A-2-6.03 Issued and outstanding shares. 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
may issue the number of shares of each class or series authorized by the articles of incorporation.
Shares that are issued are outstanding shares until they are reacquired, redeemed, converted,
or canceled. (b) The reacquisition, redemption, or conversion of outstanding shares is subject
to the limitations of subsection (c) of this section and to Section 10A-2-6.40. (c) At all
times that shares of the corporation are outstanding, one or more shares that together have
unlimited voting rights and one or more shares that together are entitled to receive the net
assets of the corporation upon dissolution must be outstanding. (Acts 1994, No. 94-245, p.
343, §1; §10-2B-6.03; amended and renumbered by Act 2009-513, p. 967, §98.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-6.03.htm - 1K - Match Info - Similar pages

10A-2-6.21
Section 10A-2-6.21 Issuance of shares. REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94
EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) The powers granted
in this section to the board of directors may be reserved to the shareholders by the articles
of incorporation. (b) The board of directors may authorize shares to be issued for consideration
consisting of money, labor done or property actually received. (c) Before the corporation
issues shares, the board of directors must determine that the consideration received or to
be received before issuance for shares to be issued is adequate. That determination by the
board of directors is conclusive insofar as the adequacy of consideration for the issuance
of shares relates to whether the shares are validly issued, fully paid, and nonassessable.
(d) When the corporation receives the consideration for which the board of directors authorized
the issuance of shares, the shares issued therefor are fully paid, and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-6.21.htm - 1K - Match Info - Similar pages

10A-2-7.01
Section 10A-2-7.01 Annual meeting. 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 hold
a meeting of shareholders annually at a time stated or fixed in accordance with the bylaws.
(b) Annual shareholders' meetings may be held in or out of this state at the place stated
in or fixed in accordance with the bylaws. If no place is stated in or fixed in accordance
with the bylaws, annual meetings shall be held at the corporation's principal office. (c)
The failure to hold an annual meeting at the time stated in or fixed in accordance with a
corporation's bylaws does not affect the validity of any corporate action. (Acts 1994, No.
94-245, p. 343, §1; §10-2B-7.01; amended and renumbered by Act 2009-513, p. 967, §108.)...

alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-7.01.htm - 1K - Match Info - Similar pages