2-6-127
Section 2-6-127 Dissolution of corporation. When all securities issued by the corporation and all obligations assumed by it under this article shall have been paid in full, the then president of the corporation shall execute and deliver in the name of and in behalf of the corporation an appropriate deed, or deeds, to which the seal of the corporation shall be affixed and attested by the secretary of the corporation, whereby there shall be conveyed to the state all the buildings, properties, and other assets then owned by the corporation. The then officers and directors of the corporation shall at such time file with the Secretary of State a written statement, subscribed and sworn to by each of them, reciting the payment in full of all bonds issued by the corporation and the execution and delivery of such deed or deeds to the state, which statement shall be filed by the Secretary of State and recorded with the certificate of incorporation of the corporation, whereupon the corporation...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/2-6-127.htm - 1K - Match Info - Similar pages
2-6-86
Section 2-6-86 Dissolution of corporation. When all securities issued by the corporation and all obligations incurred by it under the provisions of, and within the limitations contained in this article, shall have been fully paid, then the members of the board of directors of the corporation may at such time file with the Secretary of State a written statement subscribed and sworn to by them, reciting payment in full of all securities of the corporation, and all obligations incurred by it under the provisions of this article, which statement shall then be recorded by the Secretary of State with the certificate of incorporation of the corporation, whereupon the corporation shall stand dissolved. (Acts 1984, No. 84-252, p. 405, §17.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/2-6-86.htm - 1K - Match Info - Similar pages
11-101A-14
Section 11-101A-14 Securities payable out of revenues from projects, properties, etc., indenture may contain agreements; liens. (a) Securities issued by an authority shall not be general obligations of the authority but shall be payable solely out of the revenues from any project or other properties or assets, including, without limitation, proceeds from the securities, investment income and insurance, and condemnation proceeds, owned by it, all as may be provided or specified in the resolution of the board authorizing the securities or the indenture under which issued. The principal of and interest, and premium, if any, on any securities issued by the authority shall be secured by a pledge of the revenues out of which the same are payable and may be secured by an indenture conveying as security for the securities all or any part of its property, which indenture may be subject to foreclosure. (b) Any indenture executed on behalf of the authority and any resolution of the board...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-101A-14.htm - 4K - Match Info - Similar pages
11-20-45
Section 11-20-45 Authority and procedure for dissolution of corporations; disposition of funds and properties thereof upon dissolution. Whenever the board of directors of the corporation shall by resolution determine that the purposes for which the corporation was formed have been substantially complied with and all bonds theretofore issued and all obligations theretofore incurred by the corporation have been fully paid, the then members of the board of directors of the corporation shall thereupon execute and file for record in the office of the judge of probate of the county in which the corporation is organized a certificate of dissolution reciting such facts and declaring the corporation to be dissolved. Such certificate of dissolution shall be executed under the corporate seal of the corporation. Upon the filing of such certificate of dissolution, the corporation shall stand dissolved, the title to all funds and properties owned by it at the time of such dissolution shall vest in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-20-45.htm - 1K - Match Info - Similar pages
11-60-15
Section 11-60-15 Authority and procedure for dissolution of corporations; vesting of title to funds and properties thereof in municipalities upon dissolution. Whenever the board of directors of the corporation shall by resolution determine that the purposes for which the corporation was formed have been substantially complied with and all bonds theretofore issued and all obligations theretofore incurred by the corporation have been fully paid, the then members of the board of directors of the corporation shall thereupon execute and file for record in the office of the judge of probate of the county in which the corporation is organized a certificate of dissolution reciting such facts and declaring the corporation to be dissolved. Such certificate of dissolution shall be executed under the corporate seal of the corporation. Upon the filing of such certificate of dissolution, the corporation shall stand dissolved, the title to all funds and properties owned by it at the time of such...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-60-15.htm - 1K - Match Info - Similar pages
16-17A-2
Section 16-17A-2 Definitions. For purposes of this chapter, the following terms shall have the following meanings: (1) ACADEMIC MEDICAL CENTER. The teaching, research, and clinical facilities provided, established, or operated by a constitutionally created public university in the state or a university that operates a school of medicine. (2) AUTHORITY. A public corporation organized pursuant to the provisions of this chapter. (3) BOARD. The board of directors of an authority. (4) DIRECTOR. A member of the board of an authority. (5) GOVERNMENTAL ENTITY. The state, a county, a municipality, or any department, agency, board, or commission of the state, a county, or a municipality. (6) HEALTH CARE FACILITY. All property or rights in property, real or personal, tangible or intangible, useful to an authority in its operations, including without limitation, the following: a. Facilities necessary or desirable to the operation of an academic medical center, one or more health sciences schools,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-17A-2.htm - 4K - Match Info - Similar pages
45-41A-10.19
Section 45-41A-10.19 Dissolution of corporation. At any time when the authority has no bonds or other obligations outstanding, its board may adopt a resolution, which shall be duly entered upon its minutes, declaring that the authority shall be dissolved. Upon filing for record of a certified copy of the resolution in the office of the Judge of Probate of Lee County, the authority shall thereupon stand dissolved and in the event it owned any property at the time of its dissolution, the title to all its properties shall thereupon pass to the city. (Act 85-185, p. 40, §20.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-41A-10.19.htm - 889 bytes - Match Info - Similar pages
45-41A-40.19
Section 45-41A-40.19 Dissolution of corporation. At any time when the authority has no bonds or other obligations outstanding, its board may adopt a resolution, which shall be duly entered upon its minutes, declaring that the authority shall be dissolved. Upon filing for record a certified copy of the resolution in the office of the Judge of Probate of Lee County, the authority shall thereupon stand dissolved and in the event it owned any property at the time of its dissolution, the title to all its properties shall thereupon pass to the city. (Act 84-415, p. 981, §20.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-41A-40.19.htm - 887 bytes - Match Info - Similar pages
11-54A-20
Section 11-54A-20 Dissolution of corporation and vesting of title to property in city. At any time when the authority has no bonds or other obligations outstanding, its board may adopt a resolution, which shall be duly entered upon its minutes, declaring that the authority shall be dissolved. Upon filing for record of a certified copy of the said resolution in the office of the judge of probate of the county, the authority shall thereupon stand dissolved and in the event it owned any property at the time of its dissolution, the title to all its properties shall thereupon pass to the city. (Acts 1985, No. 85-683, §20.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-54A-20.htm - 934 bytes - Match Info - Similar pages
11-97-10
Section 11-97-10 Security for payment of bonds; contracts and agreements to secure. (a) Bonds issued by any corporation may, as its board may deem advisable, be either general obligations of such corporation or limited obligations payable only out of certain specified revenues or assets of such corporation; provided, that any corporation may enter into contracts with the holders of any of its bonds preventing such corporation from thereafter issuing general obligation bonds or limiting the amount of such bonds that may thereafter be issued. To the extent permitted by any contracts with the holders of outstanding bonds and any other contractual obligations or requirements, any corporation may pledge any of its revenues or mortgage or assign any of its assets, whether real or personal and whether tangible or intangible, to secure the payment of any of its bonds. (b) As security for payment of the principal of and the interest and premium, if any, on any bonds issued or assumed by it, any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-97-10.htm - 8K - Match Info - Similar pages
|