There is a newer version of the Code of Alabama
2012 Code of Alabama
Title 10A - ALABAMA BUSINESS AND NONPROFIT ENTITIES CODE.
Chapter 1 - GENERAL PROVISIONS.
Section 10A-1-2.17 - Business transactions of owner with entity.
AL Code § 10A-1-2.17 (2012) What's This?
Section 10A-1-2.17Business transactions of owner with entity. Except as otherwise provided in the governing documents or in the specific article that applies to that entity, an owner may lend money to and transact any lawful business with the entity and, subject to other applicable law, have the same rights and obligations with respect thereto as a person who is not an owner.
(Act 2009-513, p. 967, §11.)Disclaimer: These codes may not be the most recent version. Alabama may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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