Section 10A-30-2.03 – Formation of a Close Corporation; Applicable to Corporations Formed as Close Corporations Before January 1, 1995.
Section 10A-30-2.03 Formation of a close corporation; applicable to corporations formed as close corporations before January 1, 1995. A close corporation which was formed in accordance with former Sections 10-2A-90 through 10-2A-96 must have been authorized by the affirmative vote of all holders of and subscribers to shares of the corporation, and: (1) The certificate […]
Section 10A-30-2.04 – Voluntary Termination of Close Corporation Status by Amendment of Certificate of Formation; Vote Required; Applicable to Corporations Formed as Close Corporations or Electing Close Corporation Status Prior to January 1, 1995.
Section 10A-30-2.04 Voluntary termination of close corporation status by amendment of certificate of formation; vote required; applicable to corporations formed as close corporations or electing close corporation status prior to January 1, 1995. (a) A corporation may voluntarily terminate its status as a close corporation and cease to be subject to this article by amending […]
Section 10A-30-2.05 – Issuance or Transfer of Shares of a Close Corporation in Breach of Qualifying Conditions; Applicable to Corporations Formed as Close Corporations or Electing Close Corporation Status Prior to January 1, 1995.
Section 10A-30-2.05 Issuance or transfer of shares of a close corporation in breach of qualifying conditions; applicable to corporations formed as close corporations or electing close corporation status prior to January 1, 1995. (a) If shares of a close corporation are issued or transferred to any person who is not entitled under any provision of […]
Section 10A-30-2.06 – Corporate Option Where a Restriction on Transfer of Shares Is Held Invalid; Applicable to Corporations Formed as Close Corporations or Electing Close Corporation Status Prior to January 1, 1995.
Section 10A-30-2.06 Corporate option where a restriction on transfer of shares is held invalid; applicable to corporations formed as close corporations or electing close corporation status prior to January 1, 1995. If a restriction on transfer of shares of a close corporation is held not to be authorized by the Alabama Business Corporation Law, the […]
Section 10A-30-2.07 – Agreements Restricting Discretion of Directors; Applicable to Corporations Formed as Close Corporations or Electing Close Corporation Status Prior to January 1, 1995.
Section 10A-30-2.07 Agreements restricting discretion of directors; applicable to corporations formed as close corporations or electing close corporation status prior to January 1, 1995. A written agreement among the shareholders of a close corporation holding a majority of the outstanding shares entitled to vote, whether solely among themselves or with a party not a shareholder, […]
Section 10A-30-2.08 – Management by Shareholders; Applicable to Corporations Formed as Close Corporations or Electing Close Corporation Status Prior to January 1, 1995.
Section 10A-30-2.08 Management by shareholders; applicable to corporations formed as close corporations or electing close corporation status prior to January 1, 1995. The certificate of formation of a close corporation may provide that the business of the corporation shall be managed by the shareholders of the corporation rather than by a board of directors. So […]
Section 10A-30-2.09 – Appointment of Custodian for Close Corporation; Applicable to Corporations Formed as Close Corporations or Electing Close Corporation Status Prior to January 1, 1995.
Section 10A-30-2.09 Appointment of custodian for close corporation; applicable to corporations formed as close corporations or electing close corporation status prior to January 1, 1995. (a) The circuit court of the county in which the corporation has its registered office or any court in such place having jurisdiction, upon application of any shareholder, may appoint […]
Section 10A-30-2.10 – Appointment of a Provisional Director in Certain Cases; Applicable to Corporations Formed as Close Corporations or Electing Close Corporation Status Prior to January, 1 1995.
Section 10A-30-2.10 Appointment of a provisional director in certain cases; applicable to corporations formed as close corporations or electing close corporation status prior to January, 1 1995. (a) Notwithstanding any contrary provision of the governing documents or agreement of the shareholders, the circuit court of the county in which the registered office of the corporation […]
Section 10A-30-2.11 – Shareholders’ Agreements; Applicable to Corporations Formed as Close Corporations or Electing Close Corporation Status Prior to January 1, 1995.
Section 10A-30-2.11 Shareholders’ agreements; applicable to corporations formed as close corporations or electing close corporation status prior to January 1, 1995. No written agreement among shareholders of a close corporation, nor any provision of the governing documents of the corporation, which agreement or provision relates to any phase of the affairs of such corporation, including […]
Section 10A-30-2.12 – Shareholders’ Option to Dissolve Corporation; Applicable to Corporations Formed as Close Corporations or Electing Close Corporation Status Prior to January 1, 1995.
Section 10A-30-2.12 Shareholders’ option to dissolve corporation; applicable to corporations formed as close corporations or electing close corporation status prior to January 1, 1995. (a) The certificate of formation of any close corporation may include a provision granting to any shareholder, or to the holders of any specified number or percentage of shares of any […]