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10A-2A-7.32
or omissions imposed by law on directors to the extent that the discretion or powers of the
directors are limited by the agreement. An agreement authorized by this section that eliminates
the board of directors shall impose on the person or persons in whom the discretion or powers
of the directors are vested the liability for acts or omissions as are imposed by law on directors.
(f) The existence or performance of an agreement authorized by this section shall not be a
ground for imposing personal liability on any stockholder for the acts or debts of
the corporation even if the agreement or its performance treats the corporation as if it were
a partnership or results in failure to observe the corporate formalities otherwise applicable
to the matters governed by the agreement. (g) Incorporators or subscribers for stock may act
as stockholders with respect to an agreement authorized by this section if no stock has been
issued when the agreement is made. (h) Limits, if any, on the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2A-7.32.htm - 5K - Match Info - Similar pages
37-6-16
Section 37-6-16 Conversion of existing corporation into cooperative. Any corporation organized
under the laws of this state for the purpose, among others, of supplying electric energy to
its members may be converted into a cooperative and become subject to this chapter with the
same effect as if originally organized under this chapter by complying with the following
requirements: The proposition for the conversion of such corporation into a cooperative and
proposed articles of conversion to give effect thereto shall be first approved by the board
of trustees or the board of directors, as the case may be, of such corporation. The proposed
articles of conversion shall recite in the caption that they are executed pursuant to this
chapter and shall state: The name of the corporation prior to its conversion into a cooperative;
the address of the principal office of such corporation; the date of the filing of articles
of incorporation of such corporation in the office of the secretary of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-6-16.htm - 3K - Match Info - Similar pages
11-45-2
Section 11-45-2 Style of ordinances; procedure for adoption of ordinances or resolutions generally;
manner of awarding contracts on bids. (a) The style of an ordinance of a city or town shall
be, "Be it ordained by the city (or town) council of ___ as follows:" inserting
the name of the city or town as the case may be. (b) No ordinance or resolution intended to
be of permanent operation shall be adopted by the council at the same meeting at which it
is introduced, unless unanimous consent of those present is given for the immediate consideration
of such ordinance or resolution, such consent to be shown by a vote taken by yeas and nays,
and the names of the members voting shall be entered upon the minutes, and no ordinance or
resolution intended to be of permanent operation shall become a law unless on its final passage
a majority of the members elected to said council in cities of over 12,000 inhabitants shall
vote in its favor. In all towns and in cities of less than 12,000...
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10A-2-7.32
to it. (e) An agreement authorized by this section that limits the discretion or powers of
the board of directors shall relieve the directors of, and impose upon the person or persons
in whom the discretion or powers are vested, liability for acts or omissions imposed by law
on directors to the extent that the discretion or powers of the directors are limited by the
agreement. (f) The existence or performance of an agreement authorized by this section shall
not be a ground for imposing personal liability on any shareholder for the acts or
debts of the corporation even if the agreement or its performance treats the corporation as
if it were a partnership or results in failure to observe the corporate formalities otherwise
applicable to the matters governed by the agreement. (g) Incorporators or subscribers for
shares may act as shareholders with respect to an agreement authorized by this section if
no shares have been issued when the agreement is made. (Acts 1994, No. 94-245, p....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-7.32.htm - 5K - Match Info - Similar pages
37-6-13
Section 37-6-13 Consolidation generally. Any two or more cooperatives, each of which is hereinafter
designated a "consolidating cooperative," may consolidate into a new cooperative,
hereinafter designated the "new cooperative," by complying with the following requirements:
The proposition for the consolidation of the consolidating cooperatives into the new cooperative
and proposed articles of consolidation to give effect thereto shall be first approved by the
board of trustees of each consolidating cooperative. The proposed articles of consolidation
shall recite in the caption that they are executed pursuant to this chapter and shall state:
The name of each consolidating cooperative, the address of its principal office and the date
of the filing of its articles of incorporation in the office of the secretary of state; the
name of the new cooperative and the address of its principal office; the names and addresses
of the persons who shall constitute the first board of trustees of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-6-13.htm - 3K - Match Info - Similar pages
11-50A-6
Section 11-50A-6 Board of directors; election committee; meetings; officers; compensation;
recordkeeping. (a) The board of directors of the authority shall be elected by the duly designated
representatives of the municipalities which are authorized and directed to designate a member
of the election committee as hereinafter provided in this section. Until the first meeting
of the board of directors following the meeting in 2015 of the election committee hereinafter
provided for, the board of directors shall consist of nine members; thereafter, the board
shall consist of the number of members equal to the number of municipalities contracting with
the authority for the purchase of electric power and energy pursuant to Section 11-50A-17,
which are authorized and directed to designate a member of the election committee. Members
of the board of directors shall be eligible to succeed themselves. The business, affairs,
and property of the authority shall be managed by its board of directors....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50A-6.htm - 18K - Match Info - Similar pages
22-21-270
Section 22-21-270 Certificates of need - Period for which valid; extension of time; termination;
transferability. (a) A certificate of need issued under subsection (a) of Section 22-21-265
and Section 22-21-268 shall be valid for a period not to exceed 12 months and may be subject
to one extension not to exceed 12 months, provided the criteria for extension as set forth
in the rules and regulations of the SHPDA are met. Applications for an extension filed under
this section shall be accompanied by a filing fee to be established by rule, not to exceed
25 percent of the original CON application fee. If no obligation has occurred within such
period, the certificate of need shall be considered terminated and shall be null and void.
Should the obligation be incurred within such valid period, the certificate of need shall
be continued in effect for a period not to exceed one year or the completion of the construction
project, whichever shall be later, or the inauguration of the service or...
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27-31B-21
Section 27-31B-21 Conversion to or merger with reciprocal insurer. (a) An association captive
insurance company or industrial insured group formed as a stock or mutual corporation may
be converted to or merged with and into a reciprocal insurer in accordance with a plan therefor
and this section. (b) A plan for this conversion or merger shall satisfy both of the following:
(1) Be fair and equitable to the shareholders, in the case of a stock insurer, or the policyholders,
in the case of a mutual insurer. (2) Provide for the purchase of the shares of any nonconsenting
shareholder of a stock insurer or the policyholder interest of any nonconsenting policyholder
of a mutual insurer in substantially the same manner and subject to the same rights and conditions
as are accorded a dissenting shareholder under Article 13, commencing with Section 10-2B-13.01,
of Chapter 2B of Title 10. (c) A conversion authorized under subsection (a) shall satisfy
all of the following: (1) The conversion shall...
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37-6-14
Section 37-6-14 Merger generally. Any one or more cooperatives, each of which is hereinafter
designated a "merging cooperative," may merge into another cooperative, hereinafter
designated the "surviving cooperative," by complying with the following requirements:
The proposition for the merger of the merging cooperatives into the surviving cooperative
and proposed articles of merger to give effect thereto shall be first approved by the board
of trustees of each merging cooperative and by the board of trustees of the surviving cooperative.
The proposed articles of merger shall recite in the caption that they are executed pursuant
to this chapter and shall state: The name of each merging cooperative, the address of its
principal office and the date of the filing of its articles of incorporation in the Office
of the Secretary of State; the name of the surviving cooperative and the address of its principal
office; a statement that the merging cooperatives elect to be merged into the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-6-14.htm - 3K - Match Info - Similar pages
11-65-2
Section 11-65-2 Definitions. (a) The following words and phrases used in this chapter, and
others evidently intended as the equivalent thereof, shall, unless the context clearly indicates
otherwise, have the following respective meanings: (1) ALABAMA-BRED. When this term is used
with reference to a horse, it means a horse which is registered in the registry designated
and administered by a commission in accordance with such rules concerning domicile and registration
requirements as may be established by such commission and which is either (i) foaled from
a mare domiciled in the state during the 10-year period beginning with January 1, 1991, or
(ii) sired by an Alabama stallion and foaled from a mare domiciled in the state at any time
after the expiration of such 10-year period. (2) ALABAMA STALLION. A stallion which is standing
in the state at the time he is bred to the dam of an Alabama-bred horse, which is registered
with a commission, and which is owned or leased by a resident of...
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