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2013 Code of Alabama
Title 10 - CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS.
Chapter 2B - BUSINESS CORPORATIONS.
Article 1 General Provisions.Division A Short Title, Applicability, and Reservation of Power.
- Section 10-2B-1.01 - Short title and applicability.
- Section 10-2B-1.02 - Reservation of power to amend or repeal.
- Section 10-2B-1.20 - Filing requirements.
- Section 10-2B-1.21 - Forms.
- Section 10-2B-1.22 - Filing, service, and copying fees.
- Section 10-2B-1.23 - Effective time and date of document.
- Section 10-2B-1.24 - Correcting filed document.
- Section 10-2B-1.25 - Place of filing and filing duties of probate judge and Secretary of State.
- Section 10-2B-1.26 - Appeal from probate judge's or Secretary of State's refusal to file document.
- Section 10-2B-1.27 - Evidentiary effect of copy of filed document.
- Section 10-2B-1.28 - Certificate of existence.
- Section 10-2B-1.29 - Penalty for signing false document.
- Section 10-2B-2.01 - Incorporators.
- Section 10-2B-2.02 - Articles of incorporation.
- Section 10-2B-2.03 - Incorporation.
- Section 10-2B-2.04 - Liability for preincorporation transaction.
- Section 10-2B-2.05 - Organization of corporation.
- Section 10-2B-2.06 - Bylaws.
- Section 10-2B-2.07 - Emergency bylaws.
- Section 10-2B-2.08 - Incorporation by purchasers of property or franchise of corporation.
- Section 10-2B-3.01 - Purposes.
- Section 10-2B-3.02 - General powers.
- Section 10-2B-3.03 - Emergency powers.
- Section 10-2B-3.04 - Ultra vires.
- Section 10-2B-4.01 - Corporate name.
- Section 10-2B-4.02 - Reserved name.
- Section 10-2B-4.03 - Registered name.
- Section 10-2B-5.01 - Registered office and registered agent.
- Section 10-2B-5.02 - Change of registered office or registered agent.
- Section 10-2B-5.03 - Resignation of registered agent.
- Section 10-2B-5.04 - Service on corporation.
Division A Shares.
- Section 10-2B-6.01 - Authorized shares.
- Section 10-2B-6.02 - Terms of class or series determined by board of directors.
- Section 10-2B-6.03 - Issued and outstanding shares.
- Section 10-2B-6.04 - Fractional shares.
- Section 10-2B-6.20 - Subscription for shares before incorporation.
- Section 10-2B-6.21 - Issuance of shares.
- Section 10-2B-6.22 - Liability of shareholders and subscribers.
- Section 10-2B-6.23 - Share dividends.
- Section 10-2B-6.24 - Share options.
- Section 10-2B-6.25 - Form and content of certificates.
- Section 10-2B-6.26 - Shares without certificates.
- Section 10-2B-6.27 - Restriction on transfer of shares and other securities.
- Section 10-2B-6.28 - Expense of issue.
- Section 10-2B-6.30 - Shareholders' preemptive rights.
- Section 10-2B-6.31 - Corporation's acquisition of its own shares.
- Section 10-2B-6.32 - Cancellation of reacquired shares.
Division A Meetings.
- Section 10-2B-7.01 - Annual meeting.
- Section 10-2B-7.02 - Special meeting.
- Section 10-2B-7.03 - Court-ordered meeting.
- Section 10-2B-7.04 - Action without meeting.
- Section 10-2B-7.05 - Notice of meeting.
- Section 10-2B-7.06 - Waiver of notice.
- Section 10-2B-7.07 - Record date.
- Section 10-2B-7.20 - Shareholders' list for meeting.
- Section 10-2B-7.21 - Voting entitlement of shares.
- Section 10-2B-7.22 - Proxies.
- Section 10-2B-7.23 - Shares held by nominees.
- Section 10-2B-7.24 - Corporation's acceptance of votes.
- Section 10-2B-7.25 - Quorum and voting requirements for voting groups.
- Section 10-2B-7.26 - Action by single and multiple voting groups.
- Section 10-2B-7.27 - Greater quorum or voting requirements.
- Section 10-2B-7.28 - Voting for directors; cumulative voting.
- Section 10-2B-7.30 - Voting trust.
- Section 10-2B-7.31 - Voting agreements.
- Section 10-2B-7.32 - Shareholder agreements.
Division A Board of Directors.
- Section 10-2B-8.01 - Requirement for and duties of board of directors.
- Section 10-2B-8.02 - Qualifications of directors.
- Section 10-2B-8.03 - Number and election of directors.
- Section 10-2B-8.04 - Election of directors by certain classes of shareholders.
- Section 10-2B-8.05 - Terms of directors generally.
- Section 10-2B-8.06 - Staggered terms for directors.
- Section 10-2B-8.07 - Resignation of directors.
- Section 10-2B-8.08 - Removal of directors by shareholders.
- Section 10-2B-8.09 - Removal of directors by judicial proceeding.
- Section 10-2B-8.10 - Vacancy on board.
- Section 10-2B-8.11 - Compensation of directors.
- Section 10-2B-8.20 - Meetings.
- Section 10-2B-8.21 - Action without meeting.
- Section 10-2B-8.22 - Notice of meeting.
- Section 10-2B-8.23 - Waiver of notice.
- Section 10-2B-8.24 - Quorum and voting.
- Section 10-2B-8.25 - Committees.
- Section 10-2B-8.30 - General standards for directors.
- Section 10-2B-8.31 - Fiduciary obligations not impaired.
- Section 10-2B-8.32 - Depreciating stocks or bonds of corporation with intent to buy.
- Section 10-2B-8.33 - Liability for unlawful distributions.
- Section 10-2B-8.40 - Required officers.
- Section 10-2B-8.41 - Duties of officers.
- Section 10-2B-8.42 - Standards of conduct for officers.
- Section 10-2B-8.43 - Resignation and removal of officers.
- Section 10-2B-8.44 - Contract rights of officers.
- Section 10-2B-8.50 - Definitions.
- Section 10-2B-8.51 - Authority to indemnify.
- Section 10-2B-8.52 - Mandatory indemnification.
- Section 10-2B-8.53 - Advance for expenses.
- Section 10-2B-8.54 - Court-ordered indemnification.
- Section 10-2B-8.55 - Determination and authorization of indemnification.
- Section 10-2B-8.56 - Indemnification of officers, employees, and agents.
- Section 10-2B-8.57 - Insurance.
- Section 10-2B-8.58 - Application of indemnification provisions.
- Section 10-2B-8.60 - Definitions.
- Section 10-2B-8.61 - Judicial action.
- Section 10-2B-8.62 - Directors' action.
- Section 10-2B-8.63 - Shareholders' action.
Division A Amendment of Articles of Incorporation.
- Section 10-2B-10.01 - Authority to amend articles of incorporation.
- Section 10-2B-10.02 - Amendment by board of directors.
- Section 10-2B-10.03 - Amendment by board of directors and shareholders.
- Section 10-2B-10.04 - Voting on amendments by voting groups.
- Section 10-2B-10.05 - Amendment before issuance of shares.
- Section 10-2B-10.06 - Articles of amendment.
- Section 10-2B-10.07 - Restated articles of incorporation.
- Section 10-2B-10.08 - Amendment pursuant to reorganization.
- Section 10-2B-10.09 - Effect of amendment.
- Section 10-2B-10.20 - Amendment by board of directors or shareholders.
- Section 10-2B-10.21 - Bylaw increasing quorum or voting requirement for shareholders.
- Section 10-2B-10.22 - Bylaw increasing quorum or voting requirement for directors.
Division A Mergers and Share Exchanges with Other Corporations.
- Section 10-2B-11.01 - Merger.
- Section 10-2B-11.02 - Share exchange.
- Section 10-2B-11.03 - Action on plan.
- Section 10-2B-11.04 - Merger of subsidiary.
- Section 10-2B-11.05 - Articles of merger or share exchange.
- Section 10-2B-11.06 - Effect of merger or share exchange.
- Section 10-2B-11.07 - Merger or share exchange with foreign corporation.
- Section 10-2B-11.08 - Merger of limited partnership with corporation.
- Section 10-2B-12.01 - Sale of assets in regular course of business and mortgage of assets.
- Section 10-2B-12.02 - Sale of assets other than in regular course of business.
Division A Right to Dissent and Obtain Payment for Shares.
- Section 10-2B-13.01 - Definitions.
- Section 10-2B-13.02 - Right to dissent.
- Section 10-2B-13.03 - Dissent by nominees and beneficial owners.
- Section 10-2B-13.20 - Notice of dissenters' rights.
- Section 10-2B-13.21 - Notice of intent to demand payment.
- Section 10-2B-13.22 - Dissenters' notice.
- Section 10-2B-13.23 - Duty to demand payment.
- Section 10-2B-13.24 - Share restrictions.
- Section 10-2B-13.25 - Offer of payment.
- Section 10-2B-13.26 - Failure to take corporate action.
- Section 10-2B-13.27 - Reserved.
- Section 10-2B-13.28 - Procedure if shareholder dissatisfied with offer of payment.
- Section 10-2B-13.30 - Court action.
- Section 10-2B-13.31 - Court costs and counsel fees.
- Section 10-2B-13.32 - Status of shares after payment.
Division A Voluntary Dissolution.
- Section 10-2B-14.01 - Dissolution by incorporators or initial directors.
- Section 10-2B-14.02 - Dissolution by board of directors and shareholders.
- Section 10-2B-14.03 - Articles of dissolution.
- Section 10-2B-14.04 - Revocation of dissolution.
- Section 10-2B-14.05 - Effect of dissolution.
- Section 10-2B-14.06 - Known claims against dissolved corporation.
- Section 10-2B-14.07 - Unknown claims against dissolved corporation.
- Section 10-2B-14.20 - Grounds for administrative dissolution.
- Section 10-2B-14.21 - Procedure for and effect of administrative dissolution.
- Section 10-2B-14.22 - Reinstatement following administrative dissolution.
- Section 10-2B-14.23 - Appeal from denial of reinstatement.
- Section 10-2B-14.30 - Grounds for judicial dissolution.
- Section 10-2B-14.31 - Procedure for judicial dissolution.
- Section 10-2B-14.32 - Receivership or custodianship.
- Section 10-2B-14.33 - Decree of dissolution.
- Section 10-2B-14.34 - Election to purchase in lieu of dissolution.
Division A Certificate of Authority.
- Section 10-2B-15.01 - Authority to transact business required.
- Section 10-2B-15.02 - Consequences of transacting business without authority.
- Section 10-2B-15.03 - Application for certificate of authority.
- Section 10-2B-15.04 - Amended certificate of authority.
- Section 10-2B-15.05 - Effect of certificate of authority.
- Section 10-2B-15.06 - Corporate name of foreign corporation.
- Section 10-2B-15.07 - Registered office and registered agent of foreign corporation.
- Section 10-2B-15.08 - Change of registered office or registered agent of foreign corporation.
- Section 10-2B-15.09 - Resignation of registered agent of foreign corporation.
- Section 10-2B-15.10 - Service on foreign corporation.
- Section 10-2B-15.11 - Out of state business or property of foreign corporation not subject to control or regulation.
- Section 10-2B-15.12 - Right of eminent domain.
- Section 10-2B-15.13 - Extension of lines, tracks, ways, or works into state.
- Section 10-2B-15.30 - Grounds for revocation.
- Section 10-2B-15.31 - Procedure for and effect of revocation.
- Section 10-2B-15.32 - Appeal from revocation.
- Section 10-2B-15.40 - Definitions.
- Section 10-2B-15.41 - Authority of foreign corporation to act as fiduciary.
- Section 10-2B-15.42 - Filing of verified statement with Commissioner of Revenue by foreign corporation prior to acting as fiduciary.
- Section 10-2B-15.43 - Foreign corporation acting as fiduciary not deemed doing business in this state.
- Section 10-2B-15.44 - Foreign corporation previously acting in fiduciary capacity in state.
- Section 10-2B-15.45 - Service of process on foreign corporation acting in fiduciary capacity.
Division A Records.
- Section 10-2B-16.01 - Corporate records.
- Section 10-2B-16.02 - Inspection of records by shareholders.
- Section 10-2B-16.03 - Scope of inspection right.
- Section 10-2B-16.04 - Court-ordered inspection.
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