11-22-16
Section 11-22-16 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 the county, and possession of such funds and properties
shall forthwith be delivered to such county. (Acts...
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45-49-90.12
Section 45-49-90.12 Dissolution of corporation. (a) 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 Mobile County 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. (b) 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 be disposed of or distributed in accordance with the articles
of incorporation. (Act 88-626, p. 976, § 13.)...
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11-94-18
Section 11-94-18 Dissolution of authority; vesting of title to funds and property of authority.
Whenever the board of any authority shall by resolution determine that the purposes for which
the authority was formed have been substantially complied with and any bonds theretofore issued
and all obligations theretofore incurred by the authority have been paid, the authority shall
thereupon execute and file for record in the office of the judge of probate of the county
in which its certificate of incorporation was filed a certificate of dissolution reciting
such facts and declaring the authority to be dissolved. Such certificate of dissolution shall
be signed by the president or vice president of the authority under its corporate seal. Upon
the filing of such certificate of dissolution the authority shall stand dissolved, the title
to all funds and properties owned by it at the time of such dissolution shall vest in equal
shares in its authorizing subdivisions and the possession of such...
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11-32-20
Section 11-32-20 Dissolution of transit authority. The authority shall be a nonprofit corporation,
and no part of its net earnings remaining after payment of its expenses shall inure to the
benefit of any individual, firm, or corporation except as provided in this section. At any
time when the authority has no bonds or outstanding obligations, the board may adopt a resolution,
which shall be duly entered upon its minutes, declaring that the authority shall be dissolved.
Upon the filing for record of a certified copy of the resolution in the office of the judge
of probate of the authorizing county, the authority shall be dissolved and in the event it
owned any property at the time of its dissolution, the title to its properties shall pass
to, and vest equally in, the principal municipality and the authorizing county, as tenants
in common. (Act 2013-380, p. 1389, §20.)...
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11-89-17
Section 11-89-17 Authorization and procedure for dissolution of district; vesting of title
to properties of district and apportionment thereof upon dissolution of district. At any time
when the district has no bonds or other obligations outstanding, the board may adopt a resolution,
which shall be duly entered upon its minutes, declaring that the district shall be dissolved.
Upon the filing for record of a certified copy of the said resolution in the office of the
judge of probate of the county in which the district's certificate of incorporation was filed
the district shall thereupon stand dissolved and, in the event it owned any property at the
time of its dissolution, the title to all its property shall thereupon pass to and be divided
and apportioned among the counties and municipalities in which any part of the service area
may be located, or, if it is a supply district, among its authorizing subdivisions, all in
such manner and to such extent as may be provided in the district's...
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11-99B-15
Section 11-99B-15 Authorization and procedure for dissolution of district; vesting of title
to properties of district and apportionment thereof upon dissolution of district. At any time
when the district has no bonds or other obligations outstanding, the board may adopt a resolution,
which shall be duly entered upon its minutes, declaring that the district shall be dissolved.
Upon the filing for record of a certified copy of the said resolution in the office of the
judge of probate of the county in which the district's certificate of incorporation was filed,
the district shall thereupon stand dissolved and, in the event it owned any property at the
time of its dissolution, the title to all its property shall thereupon pass to and be divided
and apportioned among its members, all in such manner and to such extent as may be provided
in the district's certificate of incorporation, as last amended; provided, however, that in
the absence of a contrary provision in the said certificate of...
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11-97-23
Section 11-97-23 Dissolution of corporation; vesting of title to corporation's property in
determining subdivision. At any time when any corporation has no bonds or other obligations
outstanding and when there shall be no other obligations assumed by such corporation that
are then outstanding, the board of such corporation may adopt a resolution, which shall be
duly entered upon its minutes, declaring that the corporation shall be dissolved. Upon filing
for record of a certified copy of the said resolution in the office of the judge of probate
with which the corporation's certificate of incorporation was filed, the corporation shall
thereupon stand dissolved and, in the event it owned any assets or property at the time of
its dissolution, the title to all such assets or property shall thereupon vest in the determining
subdivision. (Acts 1984, No. 84-314, p. 695, §23.)...
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22-21-191
Section 22-21-191 Dissolution of corporation. If at any time the corporation shall have outstanding
no unpaid securities and if each member of the board of directors of the corporation shall
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 the fact that the corporation
has outstanding no unpaid securities, stating that it is in the best interests of the public
for the corporation to be dissolved and declaring the corporation to be dissolved, the corporation
shall thereupon stand dissolved, and title to all funds and properties owned by it at the
time of such dissolution shall vest, jointly, in the county and the largest of the member
municipalities, according to the federal decennial census next preceding the date of the filing
of the certificate of incorporation of the corporation for record, whereupon possession of
such funds and properties shall forthwith be delivered to the...
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11-15-18
Section 11-15-18 Dissolution. At any time when the corporation does not have any warrants outstanding,
the governing body may adopt a resolution, which shall be duly entered upon the minutes of
the governing body, declaring that the corporation shall be dissolved. Upon the filing for
record of a certified copy of said resolution in the office of the judge of probate of the
county, the corporation shall thereupon stand dissolved, and, in the event it owned any property
at the time of its dissolution, the title to all its property shall thereupon vest in the
county. In the event the corporation shall at any time have outstanding warrants issued under
this chapter payable out of the revenues from different projects, then, as and when the principal
of and interest on all warrants payable from the revenues derived from any project shall have
been paid in full, title to the project with respect to which the warrants so paid in full
have been paid shall thereupon vest in the county, but such...
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11-59-14
Section 11-59-14 Authority and procedure for dissolution of corporations; vesting of title
to facilities thereof in municipalities upon dissolution. When the principal of and interest
on all bonds issued by the corporation shall have been paid, the title to all facilities then
owned by the corporation shall thereupon vest in the municipality with respect to which the
corporation shall have been organized, and all rights and powers of the corporation with respect
to said facilities shall thereupon terminate and the corporation shall thereupon stand dissolved.
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 certificate
of incorporation of the corporation was filed an appropriate certificate reciting the payment
of the principal of and interest on the bonds of the corporation, which certificate shall
also describe the facilities owned by the corporation at the time of...
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