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10A-11-1.06
Section 10A-11-1.06 Members; membership shares; rights and responsibilities. (a) The governing
documents shall establish qualifications and the method of acceptance and termination of members.
No person may be accepted as a member unless employed by the employee cooperative on a full-time
or part-time basis. In order to qualify for membership, part-time employment shall be at least
half-time. (b) An employee cooperative shall issue a class of voting stock designated as "membership
shares." Each member shall own only one membership share, and only members may own such
shares. (c) Membership shares shall be issued for a fee as shall be determined by the directors.
An employee cooperative may allow for payment of such fee by payroll deduction, installments,
or similar methods. A membership share may be issued to a person upon acceptance for membership
regardless of whether the membership fee is fully paid. (d) Members of an employee cooperative
shall have all the rights and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-11-1.06.htm - 1K - Match Info - Similar pages
10A-2A-14.14
Section 10A-2A-14.14 Election to purchase in lieu of dissolution. (a) In a proceeding under
Section 10A-2A-14.10(a)(2) to dissolve a corporation, the corporation may elect or, if it
fails to elect, one or more stockholders may elect to purchase all stock owned by the petitioning
stockholder at the fair value of the stock. 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-2A-14.10(a)(2) or at a later
time as the court in its discretion may allow. If the election to purchase is filed by one
or more stockholders, the corporation shall, within 10 days thereafter, give written notice
to all stockholders, other than the petitioner. The notice must state the name and number
of shares of stock owned by the petitioner and the name and number of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2A-14.14.htm - 5K - Match Info - Similar pages
2-10-35
Section 2-10-35 Dissolution of marketing or marketing and purchasing associations. (a) Any
cooperative marketing corporation or association or mutual cooperative marketing or purchasing
corporation or association organized under the laws of this state, may be dissolved in the
mode and manner following: (1) In any mode or manner now provided by law in this state for
the dissolution of corporations; (2) By proceedings in the circuit court in the county wherein
the corporation or association was organized, under its statutory jurisdiction; or (3) By
complaint in the circuit court in the county wherein the corporation or association was or
may be organized, in the manner provided in subsections (b) and (c) of this section. (b) If
the board of directors or other governing body shall deem it advisable to dissolve such corporation
or association and shall adopt a resolution to that effect at any regular meeting of the board
or other governing body or at any special meeting called for that...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/2-10-35.htm - 4K - Match Info - Similar pages
2-10-54
Section 2-10-54 Powers of association. Each association incorporated under this article shall
have the following powers: (1) To engage in any activity in connection with the marketing,
selling, harvesting, preserving, drying, processing, canning, packing, storing, handling,
ginning or utilization of any agricultural products produced or delivered to it by its members;
(2) To engage in any activity in connection with the manufacturing or marketing of the by-products
thereof; (3) To engage in any activity in connection with the purchase, hiring or use by its
members of supplies, machinery or equipment; (4) To engage in the financing of any one or
more of the activities specified in this section; (5) To borrow money and to make advances
to members; (6) To act as the agent or representative of any member or members in any of the
above-mentioned activities; (7) To purchase or otherwise acquire and to hold, own and exercise
all rights of ownership in and to sell, transfer or pledge shares of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/2-10-54.htm - 3K - Match Info - Similar pages
40-21-5
Section 40-21-5 Reports of individuals or associations not incorporated. Whenever any person
or association of persons, not being a corporation and having no capital stock, shall engage
in this state in any character of business embraced within the provisions of this chapter,
the capital and property, or the certificate or other evidence of the rights or interest of
the person engaged in such business shall be deemed and treated as the capital stock of such
persons or association of persons for the purpose of taxation and for all purposes under this
title and shall be estimated and valued, and the intangible property values thereof, when
ascertained, shall be apportioned and distributed and assessed and taxed under the provisions
hereof in like manner as if such person or association of persons were a corporation, and
each such person or association of persons shall annually, within the time and the manner
provided in this chapter, make the statements and reports and give the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-21-5.htm - 1K - Match Info - Similar pages
45-29-140.04
Section 45-29-140.04 Board of directors. (a) The Fayette County Water Coordinating and Fire
Prevention Authority shall be governed by a board of directors. All powers of the authority
shall be exercised by the board or pursuant to its authorization. (b) The initial board of
directors shall consist of the three citizens appointed to incorporate the authority and four
other directors to be appointed within 45 days after the date the authority is incorporated
as follows: (1) The Fayette County Commission shall appoint two members of the board of directors.
(2) The Fayette County Firefighters Association shall appoint one member from their association
who shall serve an initial term of one year. (3) With each incorporated municipality regardless
of size having one vote in the selection, the elected mayors of all incorporated municipalities
in Fayette County shall appoint one director who shall serve an initial term of two years.
(4) The chairs of the water authorities in Fayette County...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-29-140.04.htm - 4K - Match Info - Similar pages
45-38-141.04
Section 45-38-141.04 Board of directors. (a) The Lamar County Water Coordinating and Fire Prevention
Authority shall be governed by a board of directors. All powers of the authority shall be
exercised by the board or pursuant to its authorization. (b) The initial board of directors
shall consist of the three citizens appointed to incorporate the authority and four other
directors to be appointed within 45 days after the date the authority is incorporated as follows:
(1) The incorporator appointed by the Lamar County Commission shall serve an initial term
of two years. (2) The Lamar County Rescue Squad Association shall appoint one member from
their association who shall serve an initial term of one year. (3) The Lamar County Firefighters
Association shall appoint one member from their association who shall serve an initial term
of one year. (4) With each incorporated municipality regardless of size having one vote in
the selection, the elected mayors of all incorporated municipalities...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-38-141.04.htm - 4K - Match Info - Similar pages
9-17-110
Section 9-17-110 Liquefied Petroleum Gas Research and Education Advisory Committee. (a) The
Liquefied Petroleum Gas Research and Education Advisory Committee is created. The committee
shall consist of five members as follows: Two members shall be industrial members of the LP-Gas
Board appointed by the board chair; two members shall be either a dealer or a dealer's manager
who is a member of the Alabama Propane Gas Association appointed by the association's board
of directors; the fifth member shall be the Chair of the LP-Gas Board who shall serve as chair
of the committee. The board administrator shall serve as the executive director of the committee.
(b) The term of office of the appointed committee members shall be one year. Members may serve
successive terms. Appointed members of the committee shall take office on the date of the
July board meeting each year. (c) No member of the committee shall receive per diem or expense
allowance. (d) The committee may adopt all necessary rules...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/9-17-110.htm - 3K - Match Info - Similar pages
10A-2A-10.06
Section 10A-2A-10.06 Certificate of amendment. Notwithstanding Division B of Article 3 of Chapter
1: (a) After an amendment to the certificate of incorporation has been adopted and approved
in the manner required by this chapter and by the certificate of incorporation, the corporation
shall deliver to the Secretary of State for filing a certificate of amendment, which must
set forth: (1) the name of the corporation; (2) the text of each amendment adopted, or the
information required by Section 10A-2A-1.20(c)(5); (3) if an amendment provides for an exchange,
reclassification, or cancellation of issued stock, provisions for implementing the amendment
if not contained in the amendment itself, (which may be made dependent upon facts objectively
ascertainable outside the certificate of amendment in accordance with Section 10A-2A-1.20(c)(5));
(4) the date of each amendment's adoption; and (5) if an amendment: (i) was adopted by the
incorporators or board of directors without stockholder...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2A-10.06.htm - 1K - Match Info - Similar pages
10A-2A-7.07
Section 10A-2A-7.07 Record date for meeting. (a) The certificate of incorporation or bylaws
may fix or provide the manner of fixing the record date or dates for one or more voting groups
to determine the stockholders entitled to notice of a stockholders' meeting, to demand a special
meeting, to vote, or to take any other action. If the certificate of incorporation or bylaws
do not fix or provide for fixing a record date, the board of directors may fix the record
date. (b) A record date fixed under this section may not be more than 70 days before the meeting
or action requiring a determination of stockholders and may not be retroactive. (c) A determination
of stockholders entitled to notice of or to vote at a stockholders' meeting is effective for
any adjournment of the meeting unless the board of directors fixes a new record date or dates,
which it shall do if the meeting is adjourned to a date more than 120 days after the date
fixed for the original meeting. (d) If a court orders a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2A-7.07.htm - 2K - Match Info - Similar pages
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