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10A-30-1.14
Section 10A-30-1.14 Purchase of membership or shares of former member or shareholder; applicable
to professional associations formed prior to January 1, 1984. If the governing documents of
a professional association fail to fix a price at which a professional association or its
members or shareholders may purchase the membership or shares of a deceased, retired, expelled,
or disqualified member or shareholder and if the governing documents do not otherwise provide,
then the price for such share or shares or membership shall be the book value of such share
or shares or membership at the end of the month immediately preceding the death or disqualification
of the member or shareholder. Book value shall be determined by an independent certified accountant
employed for such purpose from the books and records of the professional association by the
regular method of accounting employed by the professional association. The determination by
the certified public accountant of book value shall be...
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25-7-2
Section 25-7-2 Definitions. When used in this article, the terms defined in this section shall
have the meanings herein ascribed to them, unless it clearly appears from the context that
some other meaning is indicated: (1) LABOR ORGANIZATION or LABOR UNION. Every organization,
association, group, union, lodge, local, branch, or subdivision thereof, whether incorporated
or not, having within its membership employees working in the State of Alabama, organized
for the purpose of dealing with employer or employers concerning hours of employment, rates
of pay or the tenure or other terms or conditions of employment, but such term or terms shall
not include any labor organization or labor union the members of which are subject to the
Act of Congress known as the Railway Labor Act. (2) LABOR DISPUTE. Any controversy concerning
terms, tenure, or conditions of employment or concerning the association or representation
of persons in negotiating, fixing, maintaining, changing, or seeking to...
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35-20-5
through or over the common areas, if any. (6) Statements regarding the payment of dues and
assessments to be provided to any person having an interest, upon the payment of reasonable
associated costs. (7) Preparation and submission of the annual budgets of the association
to the members. (8) Any other act a nonprofit corporation is required to do under law. (d)
In addition to the requirements set forth in subsection (c), the organizational documents
of a homeowners' association may provide for the following: (1) Indemnification and insurance
for the association, its officers, and directors. (2) Fidelity bonds for any person or entity
having custody or control of any funds of the association. (3) Periodic audits of the financial
records of the association. (4) Power to acquire real and personal property for the
benefit of the association and its members. (5) Power to hire and discharge managing agents
and other employees, agents, and independent contractors. (Act 2015-292, §5.)...
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5-9A-1
Section 5-9A-1 Cooperation of superintendent in reorganization of bank. Whenever the board
of directors or a majority of the stockholders of any bank shall request the superintendent
to cooperate in a reorganization of such bank, because of a substantial impairment of the
capital of such bank, the superintendent is authorized to do the following: (1) To make or
have made a careful appraisement of the assets of the bank; (2) If the appraisement shows
the capital to be impaired, to charge the stock down to its actual value, if it has any, and
if the appraisement shows the stock has no value, to charge off all capital, surplus and undivided
profits and thereafter the rights and interests of such stockholders in any of the assets
of the bank shall be subordinate to those of the creditors of the bank and the secured depositors
to the extent of such security so held by such secured depositor; (3) If the capital, surplus
and undivided profits are not sufficient to take care of all losses, to...
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10A-30-1.11
Section 10A-30-1.11 Effect of article on professional relationships; liability of members or
shareholders; applicable to professional associations formed prior to January 1, 1984. This
article does not modify any law applicable to the relationship between a person furnishing
professional services and a person receiving the service, including liability for tort arising
out of such professional service and including the confidential relationship between the person
rendering the professional service and the person receiving such professional service, if
any; and all confidential relationships previously enjoyed under the laws of this state or
hereinafter enacted shall remain inviolate. Subject to the foregoing provisions of this section,
the members or shareholders of any professional association organized pursuant to this article
shall not be individually liable for the debts of, or claims against, the professional association
unless such member or shareholder has personally participated...
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2-10-67
Section 2-10-67 Annual report of association. Each association formed under this article shall
prepare and make out an annual report on forms furnished by the Secretary of State, containing
the name of the association, its principal place of business and a general statement of its
business operations during the fiscal year, showing the amount of capital stock paid up and
the number of stockholders of a stock association or the number of members and amount of membership
fees received, if a nonstock association, the expenses of operations, the amount of its indebtedness
or liability and its balance sheets. (Acts 1921, Ex. Sess., No. 31, p. 38; Code 1923, §7145;
Code 1940, T. 2, §103.)...
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2-10-92
Section 2-10-92 How association may be formed; amendments to articles of incorporation. Five
or more producers of agricultural products, whether in the State of Alabama or not, who may
desire that they, their associates and successors shall come under this article and enjoy
its benefits may enter into articles of association and incorporation which shall set forth
the name of the organization, the period of its existence, its domicile and the purposes for
which it was formed and that said association is to be organized or operated under this article.
The articles must be subscribed by the incorporators and acknowledged by one of them before
an officer authorized by the law of this state to take and certify acknowledgments of deeds
and conveyances and shall be filed in accordance with the provisions of the general corporation
law of this state. When so filed the said articles of incorporation or certified copies thereof
shall be received in all the courts of the state and other places...
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25-14-3
Section 25-14-3 Definitions. As used in this chapter, the following terms shall have the following
meanings: (1) ADMINISTRATIVE FEE. The fee charged to a client by a professional employer organization
for professional employer services. The term does not include any amount of a fee by the professional
employer organization that is for wages and salaries, benefits, workers' compensation, payroll
taxes, withholding, or other assessments paid by the professional employer organization to
or on behalf of covered employees under the professional employer agreement. (2) CLIENT. A
person or entity that enters into a professional employer agreement with a professional employer
organization, including a worksite employer. (3) CONTROLLING PERSON. Any of the following:
a. An officer or director of a corporation operating as a professional employer organization,
a shareholder holding 25 percent or more of the voting stock of a corporation operating as
a professional employer organization, or a...
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40-18-162
Section 40-18-162 Determination of tax of shareholder. (a) In determining the tax of a shareholder
for the shareholder's taxable year in which the taxable year of the Alabama S corporation
ends, or for the final taxable year of a shareholder who dies or of a trust or estate that
terminates before the end of the corporation's taxable year, there shall be taken into account
the shareholder's pro rata share of the corporation's: (1) Items of income, including tax-exempt
income, loss, deduction, or credit the separate treatment of which could affect the liability
for tax of any shareholder, including charitable contributions, and (2) Nonseparately computed
income or loss. The term "nonseparately computed income or loss" means gross income
minus the deductions allowed to the corporation under this article, determined by excluding
all items described in subdivision (1) of this subsection. (b) The character of any item included
in a shareholder's pro rata share under subsection (a) of this...
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9-9-37
Section 9-9-37 Bonds - Issuance. The board of water management commissioners may issue bonds
of the water management district from time to time for an amount equal in the aggregate to
the total cost of the improvement including all preliminary organization and administration
expenses not heretofore provided for, less such amounts as shall have been paid in cash to
the district treasurer. In no case, however, shall the par value of the bonds issued plus
such amounts as shall have been paid in cash to the district treasurer exceed 90 percent of
the aggregate of benefits assessed against the land or other property. The bonds shall be
numbered serially and shall bear interest not to exceed six percent per annum, payable semiannually,
and shall mature at annual intervals within 40 years commencing after a period of years not
later than five years to be determined by the board of water management commissioners, and
said bonds shall be signed by the president of the board of water management...
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