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10A-2A-11.03
Section 10A-2A-11.03 Stock exchange. (a) By complying with this Article 11: (1) a corporation
may acquire all of the stock of one or more classes or series of stock, of another corporation
or foreign corporation, in exchange for stock or other securities, obligations, rights to
acquire stock or other securities, cash, other property, or any combination of the foregoing,
pursuant to a plan of stock exchange; or (2) all of the stock of one or more classes or series
of stock of a corporation may be acquired by another corporation or foreign corporation, in
exchange for stock or other securities, obligations, rights to acquire stock or other securities,
cash, other property, or any combination of the foregoing, pursuant to a plan of stock exchange.
(b) A foreign corporation may be the acquired entity in a stock exchange only if the stock
exchange is permitted by the governing statute of that foreign corporation. (c) The plan of
stock exchange must include: (1) the name of each corporation...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2A-11.03.htm - 3K - Match Info - Similar pages
27-2A-3
Section 27-2A-3 Materiality; scope; information to be reported. (a) Materiality. No acquisitions
or dispositions of assets need be reported, pursuant to Section 27-2A-2, if the acquisitions
or dispositions are not material. For purposes of this section, a material acquisition (or
the aggregate of any series of related acquisitions during any 30-day period) or disposition
(or the aggregate of any series of related dispositions during any 30-day period) is one that
is nonrecurring and not in the ordinary course of business and involves more than five percent
of the reporting insurer's total admitted assets as reported in its most recent statutory
statement filed with the insurance department of the insurer's state of domicile. (b) Scope.
(1) Asset acquisitions subject to this chapter include every purchase, lease, exchange, merger,
consolidation, succession, or other acquisition, other than the construction or development
of real property, by or for the reporting insurer or the...
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10A-2A-7.24
Section 10A-2A-7.24 Acceptance of votes and other instruments. (a) If the name signed on a
vote, ballot, consent, waiver, stockholder demand, or proxy appointment corresponds to the
name of a stockholder, the corporation, if acting in good faith, is entitled to accept the
vote, ballot, consent, waiver, stockholder demand, or proxy appointment and give it effect
as the act of the stockholder. (b) If the name signed on a vote, ballot, consent, waiver,
stockholder demand, or proxy appointment does not correspond to the name of its stockholder,
the corporation, if acting in good faith, is nevertheless entitled to accept the vote, ballot,
consent, waiver, stockholder demand, or proxy appointment and give it effect as the act of
the stockholder if: (1) the stockholder is an entity and the name signed purports to be that
of an officer or agent of the entity; (2) the name signed purports to be that of an administrator,
executor, guardian, or conservator representing the stockholder and, if the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2A-7.24.htm - 3K - Match Info - Similar pages
10A-2-12.02
Section 10A-2-12.02 Sale of assets other than in regular course of business. REPEALED IN THE
2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT
CODE SUPPLEMENT. (a) Subject to the limitations of the Constitution of Alabama of 1901, as
the same may be amended from time to time, a corporation may sell, lease, exchange, or otherwise
dispose of all, or substantially all, of its property, with or without the good will, otherwise
than in the usual and regular course of business on the terms and conditions and for the consideration
determined by the corporation's board of directors, if the board of directors proposes and
its shareholders approve the proposed transaction. (b) For a transaction to be authorized:
(1) The board of directors must recommend the proposed transaction to the shareholders unless
the board of directors determines that because of a conflict of interest or other special
circumstances it should make no recommendation and communicates...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-12.02.htm - 3K - Match Info - Similar pages
22-30E-9
Section 22-30E-9 Requirements for voluntary property assessment plans, voluntary cleanup plans;
financial assurance. (a) Subject to Sections 22-30E-8 and 22-30E-10, upon the department's
approval of a voluntary property assessment plan, approval of a voluntary cleanup plan, or
concurrence with the certification of compliance described in this section, whichever first
occurs, an applicant who is not a responsible person, as defined in Section 22-30E-3, at the
qualifying property, shall not be liable to the state or any third party for costs incurred
in the investigation or cleanup of, or equitable relief relating to, or damages resultant
from, in whole or in part, a preexisting release at the qualifying property, including, but
not limited to, any liability to the state for the cleanup of the property under Chapters
22, 27, 30, 30A, and 35 of this title, or a new release of a substance, constituent, or material
which had been part of a preexisting release at the property, unless such...
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40-7-25.1
Section 40-7-25.1 Current use value of Class III property - Definition; appraisal of property
at request of owner; legislative intent; applicability of section; method of valuation; factors
considered in appraisal; rules and regulations of Department of Revenue; hearing objections.
(a) For ad valorem tax years beginning on and after October 1, 1978, with respect to taxable
property defined in Section 40-8-1, as amended, as Class III property and upon request by
the owner of such property as hereinafter provided, the assessor shall base his appraisal
of the value of such property on its current use on October 1 in any taxable year and not
on its fair and reasonable market value. Failure of an owner of Class III property to request
appraisal at current use value shall mean that the property shall be valued on its fair and
reasonable market value as otherwise provided in this title until such time as the owner thereof
shall request valuation on the basis of current use value. As used in...
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22-21-265
Section 22-21-265 Certificates of need - Required for new institutional health service. (a)
On or after July 30, 1979, no person to which this article applies shall acquire, construct,
or operate a new institutional health service, as defined in this article, or furnish or offer,
or purport to furnish a new institutional health service, as defined in this article, or make
an arrangement or commitment for financing the offering of a new institutional health service,
unless the person shall first obtain from the SHPDA a certificate of need therefor. Notwithstanding
any provisions of this article to the contrary, those facilities and distinct units operated
by the Department of Mental Health, and those facilities and distinct units operating under
contract or subcontract with the Department of Mental Health where the contract constitutes
the primary source of income to the facility, shall not be required to obtain a certificate
of need under this article. (b) Notwithstanding all other...
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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
27-31A-2
Section 27-31A-2 Definitions. As used in this chapter, the following terms shall have the following
meanings, respectively, unless the context clearly indicates otherwise: (1) COMMISSIONER.
The Insurance Commissioner of this state or the commissioner, director, or superintendent
of insurance in any other state. (2) COMPLETED OPERATIONS LIABILITY. Liability arising out
of the installation, maintenance, or repair of any product at a site which is not owned or
controlled by either of the following: a. Any person who performs that work. b. Any person
who hires an independent contractor to perform that work, but shall include liability for
activities which are completed or abandoned before the date of the occurrence giving rise
to the liability. (3) DOMICILE. For purposes of determining the state in which a purchasing
group is domiciled: a. For a corporation, the state in which the purchasing group is incorporated.
b. For an unincorporated entity, the state of its principal place of...
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38-7-3
Section 38-7-3 License to operate or conduct child-care facility - Requirements; recordkeeping;
parental notifications, etc.; affidavits; inspections and investigations. (a) No person, group
of persons, or corporation may operate or conduct any facility for child care, as defined
in this chapter, without being licensed or approved as provided in this chapter. (b)(1) Except
as provided in subdivision (2), the licensure requirements of this chapter do not apply to
a child-care facility that is operating as an integral part of a local church ministry or
a religious nonprofit school, and is so recognized in the church or school's documents, whether
operated separately or as a part of a religious nonprofit school unit, secondary school unit,
or institution of higher learning under the governing board or authority of the local church
or its convention, association, or regional body to which it may be subject. (2) A child-care
facility that receives state or federal funds or is operating for...
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