Section 10A-20-7.21 – Duration of Corporation.
Section 10A-20-7.21 Duration of corporation. The period of duration of the corporation shall be 50 years, subject, however, to the right of the stockholders and the members to dissolve the corporation prior to the expiration of the period as provided in Section 10A-20-7.22. (Acts 1969, No. 322, p. 681, §14; §10-4-150; amended and renumbered by […]
Section 10A-20-9.04 – Exemption of Certain Waterworks From Ad Valorem Taxes and State or County License Taxes on Gross Receipts.
Section 10A-20-9.04 Exemption of certain waterworks from ad valorem taxes and state or county license taxes on gross receipts. All associations or corporations heretofore or hereafter organized pursuant to this article for the purpose of operating waterworks for unincorporated areas shall be exempt from the payment of all state, county, municipal, or other ad valorem […]
Section 10A-20-7.22 – Dissolution.
Section 10A-20-7.22 Dissolution. A corporation may, upon the affirmative vote of two thirds of the votes to which the stockholders shall be entitled and two thirds of the votes to which the members shall be entitled, dissolve the corporation. Upon dissolution of the corporation, none of the corporation’s assets shall be distributed to the stockholders […]
Section 10A-20-9.05 – Recognition of Associations of Lessees, etc.; Arbitration of Certain Disputes Arising Under Real Estate Leases.
Section 10A-20-9.05 Recognition of associations of lessees, etc.; arbitration of certain disputes arising under real estate leases. (a) Any corporation organized under this article for the purpose of demonstrating the single tax principal shall, as soon as practicable after August 25, 1976, amend its corporate charter to provide that it will recognize an association of […]
Section 10A-20-7.23 – Applicability of Laws Regulating Securities.
Section 10A-20-7.23 Applicability of laws regulating securities. The provisions of Title 8 and any other laws of this state regulating the issue, registration, and sale of securities shall not apply to any security issued by a corporation organized under this article. (Acts 1969, No. 322, p. 681, §21; §10-4-152; amended and renumbered by Act 2009-513, […]
Section 10A-20-10.01 – Restrictions; Powers of Courts and Attorney General Not Impaired.
Section 10A-20-10.01 Restrictions; powers of courts and Attorney General not impaired. (a) Notwithstanding any provision to the contrary in the certificate of formation, other governing instrument, or under any other law of this state, and except as otherwise provided by court order, or by a provision in the certificate of formation or other governing instrument, […]
Section 10A-20-8.01 – Definitions.
Section 10A-20-8.01 Definitions. For the purposes of this article, the following terms shall have the meanings respectively ascribed to them by this section: (1) AFFILIATED ORGANIZATIONS. Organizations or boards deriving their powers, functions, funds, and property directly from the parent organization, as defined in this section, or from its law-making body and does not mean […]
Section 10A-20-11.01 – Alteration, Amendment, or Extension of Charter by Incorporated Medical, Dental, Pharmaceutical, etc., Association.
Section 10A-20-11.01 Alteration, amendment, or extension of charter by incorporated medical, dental, pharmaceutical, etc., association. (a) Any incorporated medical association of the State of Alabama, Alabama Dental Association, Alabama Pharmaceutical Association, or other corporations organized similarly to the corporation or of a similar kind may alter, amend, or extend its charter, or may do any […]
Section 10A-20-8.02 – Right of Majority Group of Local Organization in Fraternal Property.
Section 10A-20-8.02 Right of majority group of local organization in fraternal property. The right and equity are hereby recognized and declared on behalf of the majority group of any local organization owning title to or an interest in fraternal property to preserve and protect the same from impairment or loss, to prevent fraternal property held […]
Section 10A-20-12.01 – Alteration or Amendment of Charter by Corporations Not of Business Character; Filing and Contents of Declarations; Issuance of Certificate; Provisions Cumulative.
Section 10A-20-12.01 Alteration or amendment of charter by corporations not of business character; filing and contents of declarations; issuance of certificate; provisions cumulative. (a) Unless otherwise provided, any corporation, not of a business character, may alter or amend its charter whenever not less than three-fourths in number of its members, in case of corporations having […]