2009 Alabama Code
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.
- Division B Filing Documents.
- 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.
- Division C Probate Judge and Secretary of State.
- Division D Definitions.
- Article 2 Incorporation.
- 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.
- Article 3 Purposes and Powers.
- 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.
- Article 4 Name.
- Section 10-2B-4.01 Corporate name.
- Section 10-2B-4.02 Reserved name.
- Section 10-2B-4.03 Registered name.
- Article 5 Office and Agent.
- 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.
- Article 6 Shares and Distributions.
- 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.
- Division B Issuance of 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.
- Division C Subsequent Acquisition of Shares by Shareholders and Corporation.
- 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 D Distributions.
- Article 7 Shareholders.
- 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.
- Division B Voting.
- 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.
- Division C Voting Trusts and Agreements.
- Article 8 Directors and Officers.
- 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.
- Division B Meetings and Actions of the Board.
- 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.
- Division C Standards of Conduct.
- 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.
- Division D Officers.
- 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.
- Division E Indemnification.
- 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.
- Division F Directors' Conflicting Interest Transactions.
- Article 10 Amendment of Articles of Incorporation and Bylaws.
- 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.
- Division B Amendment of Bylaws.
- Article 11 Merger and Share Exchange.
- 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.
- Article 12 Sale or Mortgage of Assets.
- 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.
- Article 13 Dissenters' Rights.
- 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.
- Division B Procedure for Exercise of Dissenters' Rights.
- 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.
- Division C Judicial Appraisal of Shares.
- Article 14 Dissolution.
- 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.
- Division B Administrative Dissolution.
- 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.
- Division C Judicial Dissolution.
- 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 D Miscellaneous.
- Article 15 Foreign Corporations.
- 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.
- Division B Withdrawal.
- Division C Revocation of Certificate of Authority.
- 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.
- Division D Acting in a Fiduciary Capacity.
- 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.
- Article 16 Records and Reports.
- 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.
- Division B Reports.
- Article 17 Application.
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