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27-27-3
Section 27-27-3 Power of domestic insurers to indemnify directors, etc. Without limiting the
powers and authorities of domestic insurers, as provided in Section 27-27-61, a domestic insurer
shall have the power and is hereby authorized to indemnify any director, officer, or employee,
or former director, officer, or employee of the corporation, or any person who may have served
at its request as a director or officer of another corporation in which it owns shares of
capital stock or of which it is a creditor against expenses actually and reasonably incurred
by him in connection with the defense of any action or proceeding, civil or criminal, in which
he is made a party by reason of being, or having been, such director or officer, except in
relation to matters as to which he shall be adjudged in such action or proceeding to be liable
for negligence or misconduct in the performance of duty to the corporation and to make any
other indemnification that shall be authorized by the articles of...
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27-27-49.1
Section 27-27-49.1 Recovery. (a) If an order for liquidation or rehabilitation of a domestic
insurer has been entered, the receiver appointed under such order shall have a right to recover
on behalf of the insurer, (i) from any parent corporation or holding company or person or
affiliate who otherwise controlled the insurer, the amount of distributions (other than distributions
of shares of the same class of stock) paid by the insurer on its capital stock, or (ii) any
payment in the form of a bonus, termination settlement, or extraordinary lump sum salary adjustment
made by the insurer or its subsidiary to a director, officer, or employee, where the distribution
or payment pursuant to (i) or (ii) is made at any time during the one year preceding the petition
for liquidation, conservation, or rehabilitation, as the case may be, subject to the limitations
of subsections (b), (c), and (d) of this section. (b) No such distribution shall be recoverable
if the parent or affiliate shows that...
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45-49-85.42
Section 45-49-85.42 Temporary judges of probate. (a)(1) If the regularly elected Judge of Probate
of Mobile County is incompetent from any legal cause, incapacitated, absent or will be absent
from sickness, or otherwise disqualified from acting as judge, the judge of probate or the
chief clerk shall certify the fact of incompetency, incapacity, absence, sickness, or disqualification
to the presiding judge of the circuit court of the county and the presiding judge of the circuit
court, upon that certificate, shall appoint a person learned in the law, practicing and residing
in the county, to act as temporary judge of probate. At any time when the regularly elected
judge of probate of the county files a certificate in the office of the circuit clerk of the
county that he or she is no longer incompetent, from any legal cause, incapacitated, absent,
absent from sickness, or otherwise disqualified from acting as judge, then the regularly elected
judge of probate of the county shall...
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10A-2-13.28
Section 10A-2-13.28 Procedure if shareholder dissatisfied with offer to payment. REPEALED IN
THE 2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT
CODE SUPPLEMENT. (a) A dissenter may notify the corporation in writing of his or her own estimate
of the fair value of his or her shares and amount of interest due, and demand payment of his
or her estimate, or reject the corporation's offer under Section 10A-2-13.25 and demand payment
of the fair value of his or her shares and interest due, if: (1) The dissenter believes that
the amount offered under Section 10A-2-13.25 is less than the fair value of his or her shares
or that the interest due is incorrectly calculated; (2) The corporation fails to make an offer
under Section 10A-2-13.25 within 60 days after the date set for demanding payment; or (3)
The corporation, having failed to take the proposed action, does not release the transfer
restrictions imposed on shares within 60 days after the date set...
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10A-2-6.01
Section 10A-2-6.01 Authorized shares. REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE
JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) The articles of incorporation
must prescribe the classes of shares and the number of shares of each class that the corporation
is authorized to issue. If more than one class of shares is authorized, the articles of incorporation
must prescribe a distinguishing designation for each class, and, prior to the issuance of
shares of a class, the preferences, limitations, and relative rights of that class must be
described in the articles of incorporation. All shares of a class must have preferences, limitations,
and relative rights identical with those of other shares of the same class except to the extent
otherwise permitted by Section 10A-2-6.02. (b) The articles of incorporation must authorize
(1) one or more classes of shares that together have unlimited voting rights, and (2) one
or more classes of shares, which may be the...
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10A-9A-10.01
Section 10A-9A-10.01 Definitions. Notwithstanding Section 10A-1-1.03, as used in this article,
unless the context otherwise requires, the following terms mean: (1) "CONSTITUENT LIMITED
PARTNERSHIP" means a constituent organization that is a limited partnership. (2) "CONSTITUENT
ORGANIZATION" means an organization that is party to a merger under this article. (3)
"CONVERTED ORGANIZATION" means the organization into which a converting organization
converts pursuant to this article. (4) "CONVERTING LIMITED PARTNERSHIP" means a
converting organization that is a limited partnership. (5) "CONVERTING ORGANIZATION"
means an organization that converts into another organization pursuant to this article. (6)
"GENERAL PARTNER" means a general partner of a limited partnership. (7) "GOVERNING
STATUTE" of an organization means the statute that governs the organization's internal
affairs. (8) "ORGANIZATION" means a general partnership, including a limited liability
partnership; limited partnership,...
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10A-2-6.30
Section 10A-2-6.30 Shareholders' preemptive rights. REPEALED IN THE 2019 REGULAR SESSION BY
ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) The
shareholders of a corporation have a preemptive right to acquire the corporation's unissued
shares except to the extent the articles of incorporation otherwise provide. (b) The following
principles govern a shareholder's preemptive rights under this section, except to the extent
the articles of incorporation expressly provide otherwise: (1) The shareholders 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 shares upon the decision of the board of directors to
issue them. (2) A shareholder may waive his or her preemptive right. A waiver evidenced by
a writing is irrevocable even though it is not supported by...
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10A-2-7.03
Section 10A-2-7.03 Court-ordered meeting. REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94
EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) The circuit court
of the county where a corporation's principal office, or, if none in this state, its registered
office, is located may summarily order a meeting to be held: (1) On application of any shareholder
of the corporation entitled to participate in an annual meeting if an annual meeting was not
held within the earlier of 12 months after the end of the fiscal year or 15 months after its
last annual meeting; or (2) On application of a shareholder who signed a demand for a special
meeting valid under Section 10A-2-7.02, if: (i) Notice of the special meeting was not given
within 30 days after the date the demand was delivered to the corporation's president or secretary;
or (ii) The special meeting was not held in accordance with the notice. (b) The court may
fix the time and place of the meeting, determine the...
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10A-30-2.02
Section 10A-30-2.02 "Close corporation" defined; contents of certificate of formation;
number of shareholders; applicable to corporations formed as close corporations or electing
close corporation status prior to January 1, 1995. (a) A close corporation is a corporation
organized under former Chapter 2A of former Title 10 whose certificate of formation contains
the provisions required by former Section 10-2A-91 or a successor statute, including Section
10A-2-2.02 and, in addition, provide that: (1) The corporation is a close corporation authorized
by this article; (2) All of the issued shares of all classes shall be subject to one or more
of the restrictions on transfer permitted by former Section 10-2A-41 or a successor statute,
including Section 10A-2-6.27; and (3) For purposes of determining the number of holders of
record of the stock of a close corporation, stock which is held in joint or common tenancy
or by the entireties shall be treated as held by one shareholder. (b) The...
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12-13-37
Section 12-13-37 Appointment of special judge when probate judge incompetent, absent, sick,
etc., generally; powers and duties of special judge and force, effect, etc., of judgments,
orders and decrees thereof. If in any matter or proceeding arising in the probate court or
in reference to which the judge thereof is required to exercise jurisdiction or authority
or to perform a duty the judge is incompetent for any legal cause or shall be absent, sick
or otherwise disqualified from acting, he or his chief clerk must certify the fact of incompetency,
absence, sickness or disqualification to the Chief Justice of the Alabama Supreme Court, and
the Supreme Court shall, upon such certificate, appoint a person possessing the qualifications
of a probate judge to act as special probate judge. Such special judge in relation to such
matter or proceeding shall have the jurisdiction and authority and discharge the duties of
the probate judge, and the judgments, orders and decrees made or rendered...
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