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10A-2A-6.30
Section 10A-2A-6.30 Stockholders' preemptive rights. (a) The stockholders of a corporation
do not have a preemptive right to acquire the corporation's unissued stock except to the extent
the certificate of incorporation so provides. (b) A statement included in the certificate
of incorporation that "the corporation elects to have preemptive rights" (or words
of similar effect) means that the following principles apply except to the extent the certificate
of incorporation expressly provides otherwise: (1) The stockholders of the corporation have
a preemptive right, granted on uniform terms and conditions prescribed by the board of directors
to provide a fair and reasonable opportunity to exercise the right, to acquire proportional
amounts of the corporation's unissued stock upon the decision of the board of directors to
issue them. (2) A preemptive right may be waived by a stockholder. A waiver evidenced by a
writing is irrevocable even though it is not supported by consideration. (3)...
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34-43-15
Section 34-43-15 Complaints; grounds for suspension; revocation, etc., of license; penalties;
rulemaking authority. (a) Any person may file with the board a written and signed complaint
regarding an allegation of impropriety by a licensee, establishment, or person. Complaints
shall be made in the manner prescribed by the board. Complaints received by the board shall
be referred to a standing investigative committee consisting of a board member, the Executive
Director, the board attorney, and the board investigator. If no probable cause is found, the
investigative committee may dismiss the charges and prepare a statement, in writing, of the
reasons for the decision. (b) If probable cause is found, the board shall initiate an administrative
proceeding. Upon a finding that the licensee has committed any of the following instances
of misconduct, the board may suspend, revoke, or refuse to issue or renew a license or impose
a civil penalty after notice and opportunity for a hearing pursuant...
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36-25-1
Section 36-25-1 Definitions. Whenever used in this chapter, the following words and terms shall
have the following meanings: (1) BUSINESS. Any corporation, partnership, proprietorship, firm,
enterprise, franchise, association, organization, self-employed individual, or any other legal
entity. (2) BUSINESS WITH WHICH THE PERSON IS ASSOCIATED. Any business of which the person
or a member of his or her family is an officer, owner, partner, board of director member,
employee, or holder of more than five percent of the fair market value of the business. (3)
CANDIDATE. This term as used in this chapter shall have the same meaning ascribed to it in
Section 17-5-2. (4) COMMISSION. The State Ethics Commission. (5) COMPLAINT. Written allegation
or allegations that a violation of this chapter has occurred. (6) COMPLAINANT. A person who
alleges a violation or violations of this chapter by filing a complaint against a respondent.
(7) CONFIDENTIAL INFORMATION. A complaint filed pursuant to this...
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11-92B-7
Section 11-92B-7 Board of directors. (a) The authority shall operate under the direction of
a board of directors which shall consist of voting members selected as follows: (1) One member
appointed by the Governor. (2) Five members appointed by the governing body of each municipality
whose corporate limits lie in whole or in part within the operational area of the authority.
(3) Five members appointed by the governing body of the county of incorporation. (b) A vacancy
occurring on the board for any reason shall be filled within 30 days of the vacancy by the
appointing authority making the initial appointment. If the appointing authority that made
the initial appointment does not fill the vacancy within 30 days, the remaining appointing
authorities shall make the appointment. (c) Initial appointments to the board shall be made
within 30 days following the effective date of the incorporation. The Governor's initial appointee
shall serve a three-year term. Each governing body of a...
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34-7B-26
Section 34-7B-26 Application and licensure requirements to operate school. (a) Before being
licensed by the board to operate a school, an applicant shall satisfy all of the requirements
of this section. (1) An applicant shall submit to the board all of the following: a. A bond,
in the amount of fifty thousand dollars ($50,000) to protect potential students in the event
of closure. b. Proof of sufficient liability insurance coverage. c. A current financial statement
prepared by a reputable source and, if required by the board, a letter of credit. d. A list
of equipment owned by the school. e. A sample of student contract agreements and financial
forms relating to tuition, grants, and scholarships. f. Furnish affidavits from an adequate
number of prospective students as approved by the board stating their intent to enroll when
the school opens. (2) The applicant, owner, proposed dean, or proper corporate executive may
be required to appear before the board. (3) The applicant shall...
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10A-2A-7.01
Section 10A-2A-7.01 Annual meetings. (a) Unless directors are elected by written consent in
lieu of an annual meeting as permitted by Section 10A-2A-7.04, a corporation shall hold a
meeting of stockholders annually at a time stated in or fixed in accordance with the certificate
of incorporation or bylaws at which directors shall be elected. (b) Unless the board of directors
determines to hold the meeting solely by means of remote communication in accordance with
Section 10A-2A-7.09(c), annual meetings may be held (i) in or out of this state at the place
stated in or fixed in accordance with the certificate of incorporation or bylaws or (ii) if
no place is stated in or fixed in accordance with the certificate of incorporation or bylaws,
at the corporation's principal office. (c) The failure to hold an annual meeting at the time
stated in or fixed in accordance with a corporation's certificate of incorporation or bylaws
does not affect the validity of any corporate action. (Act 2019-94,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2A-7.01.htm - 1K - Match Info - Similar pages
10A-3-2.43
Section 10A-3-2.43 Power to indemnify directors or officers. Each nonprofit corporation shall
have the power to indemnify any director or officer or former director or officer of the corporation,
or any person who may have served at its request as a director or officer of another corporation,
whether profit or nonprofit, in which it owns shares of capital stock or of which it is a
creditor, against expenses actually and reasonably incurred by him or her in connection with
the defense of any action, suit, or proceeding, civil or criminal, in which he or she is made
a party by reason of being or having been such director or officer, except in relation to
matters as to which he or she shall be adjudged in the action, suit, or proceeding to be liable
for negligence or misconduct in the performance of his or her duty; and to make any other
indemnification that shall be authorized by the governing documents of the nonprofit corporation,
vote of the board of directors, or resolution adopted...
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22-21-50
Section 22-21-50 Proceedings to establish. (a) Any one or more local governing bodies located
in the same or contiguous counties, within a zone determined by the State Board of Health
as a zone for public hospitals, may act to establish a hospital association, a body corporate
and politic. Before taking action to establish a hospital association, each local governing
body involved shall give notice of the time, place and purpose of a public hearing at which
all residents and taxpayers of the local political subdivision shall be given an opportunity
to be heard. Such notice by the local governing body shall be given by publishing or posting
a notice at least 10 days preceding the day on which the hearing is to be held. In determining
whether a hospital association shall be established, the need for additional hospital beds
in the areas affected shall be determined. After such a hearing, the local governing body
shall determine whether to establish a hospital association, and if it is...
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45-49-151.05
Section 45-49-151.05 Duties of commission. The racing commission shall implement this subpart
and shall have the following specific duties: (1) To set dates upon which race meetings may
be operated, except Sundays. (2) To make an annual report to the chair of the county legislative
delegation, to the president or chair of the county foundation for higher education, and to
the mayor of each municipality reflecting receipts derived under this subpart. The report
may contain suggestions necessary for the implementation of this subpart. (3) To require the
following information for each application for a racing license: a. The full name of the person,
association, or corporation, including the state of incorporation and the names of the agents
for service of process within the State of Alabama. b. The names of the stockholders and directors
of a corporate applicant and the names of the officers and directors of any association. c.
The exact desired location for the conduct of any race...
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10A-2-8.62
Section 10A-2-8.62 Directors' action. REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE
JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) Directors' action respecting
a transaction is effective for purposes of Section 10A-2-8.61(b)(1) if the transaction received
the affirmative vote of a majority, but no fewer than two, of those qualified directors on
the board of directors or on a duly empowered committee of the board who voted on the transaction
after either required disclosure to them, to the extent the information was not known by them,
or compliance with subsection (b); provided that action by a committee is to be effective
only if (1) all its members are qualified directors, and (2) its members are either all the
qualified directors on the board or are appointed by the affirmative vote of a majority of
the qualified directors on the board. (b) If a director has a conflicting interest respecting
a transaction but neither the director nor a related person...
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