2013 Code of Alabama
Article 1 General Provisions.
Title 10A - ALABAMA BUSINESS AND NONPROFIT ENTITIES CODE.
Chapter 2 - BUSINESS CORPORATIONS.
Division A Short Title and Applicability.
- Section 10A-2-1.20 - Filing instruments.
- Section 10A-2-1.21 - Filing fees.
- Section 10A-2-1.22 - Reserved.
- Section 10A-2-2.01 - Incorporators.
- Section 10A-2-2.02 - Supplemental provisions required or permitted in articles of incorporation.
- Section 10A-2-2.03 - Incorporation.
- Section 10A-2-2.04 - Liability for preincorporation transactions.
- Section 10A-2-2.05 - Organization of corporation.
- Section 10A-2-2.06 - Bylaws.
- Section 10A-2-2.07 - Emergency bylaws.
- Section 10A-2-2.08 - Incorporation by purchasers of property or franchise of corporation.
- Section 10A-2-3.01 - Purpose.
- Section 10A-2-3.02 - General powers.
- Section 10A-2-3.03 - Emergency powers.
- Section 10A-2-3.04 - Ultra vires.
Article 5 Reserved.
Article 6 Shares and Distributions.
Division A Shares.
- Section 10A-2-6.01 - Authorized shares.
- Section 10A-2-6.02 - Terms of class or series determined by board of directors.
- Section 10A-2-6.03 - Issued and outstanding shares.
- Section 10A-2-6.04 - Fractional shares.
- Section 10A-2-6.20 - Subscription for shares before incorporation.
- Section 10A-2-6.21 - Issuance of shares.
- Section 10A-2-6.22 - Liability of shareholders and subscribers.
- Section 10A-2-6.23 - Share dividends.
- Section 10A-2-6.24 - Share options.
- Section 10A-2-6.25 - Corporate shares as personal property; transferability.
- Section 10A-2-6.26 - Reserved.
- Section 10A-2-6.27 - Restriction on transfer of shares and other securities.
- Section 10A-2-6.28 - Expense of issue.
- Section 10A-2-6.30 - Shareholders' preemptive rights.
- Section 10A-2-6.31 - Corporation's acquisition of its own shares.
- Section 10A-2-6.32 - Cancellation of reacquired shares.
Division A Meetings.
- Section 10A-2-7.01 - Annual meeting.
- Section 10A-2-7.02 - Special meeting.
- Section 10A-2-7.03 - Court-ordered meeting.
- Section 10A-2-7.04 - Action without meeting.
- Section 10A-2-7.05 - Notice of meeting.
- Section 10A-2-7.06 - Waiver of notice.
- Section 10A-2-7.07 - Record date.
- Section 10A-2-7.20 - Shareholders' list for meeting.
- Section 10A-2-7.21 - Voting entitlement of shares.
- Section 10A-2-7.22 - Proxies.
- Section 10A-2-7.23 - Shares held by nominees.
- Section 10A-2-7.24 - Corporation's acceptance of votes.
- Section 10A-2-7.25 - Quorum and voting requirements for voting groups.
- Section 10A-2-7.26 - Action by single and multiple voting groups.
- Section 10A-2-7.27 - Greater quorum or voting requirements.
- Section 10A-2-7.28 - Voting for directors; cumulative voting.
- Section 10A-2-7.30 - Voting trust.
- Section 10A-2-7.31 - Voting agreements.
- Section 10A-2-7.32 - Shareholder agreements.
- Section 10A-2-7.33 - Corporation without notice of infancy may treat infant as having capacity to vote, transfer, etc.
- Section 10A-2-7.34 - Infant not entitled to disaffirm as against corporation without notice of infancy.
- Section 10A-2-7.35 - Right of infant to receive dividends in own name.
- Section 10A-2-7.36 - Effect of chapter on Transfers to Minors Act, etc.
Division A Board of Directors.
- Section 10A-2-8.01 - Requirements for and duties of board of directors.
- Section 10A-2-8.02 - Qualifications of directors.
- Section 10A-2-8.03 - Number and election of directors.
- Section 10A-2-8.04 - Election of directors by certain classes of shareholders.
- Section 10A-2-8.05 - Terms of directors generally.
- Section 10A-2-8.06 - Staggered terms for directors.
- Section 10A-2-8.07 - Resignation of directors.
- Section 10A-2-8.08 - Removal of directors by shareholders.
- Section 10A-2-8.09 - Removal of directors by judicial proceeding.
- Section 10A-2-8.10 - Vacancy on board.
- Section 10A-2-8.11 - Compensation of directors,
- Section 10A-2-8.20 - Meetings.
- Section 10A-2-8.21 - Action without meeting.
- Section 10A-2-8.22 - Notice of meeting.
- Section 10A-2-8.23 - Waiver of notice.
- Section 10A-2-8.24 - Quorum and voting.
- Section 10A-2-8.25 - Committees.
- Section 10A-2-8.30 - General standards for directors.
- Section 10A-2-8.31 - Fiduciary obligations not impaired.
- Section 10A-2-8.32 - Depreciating stocks or bonds of corporation with intent to buy.
- Section 10A-2-8.33 - Liability for unlawful distributions.
- Section 10A-2-8.40 - Required officers.
- Section 10A-2-8.41 - Duties of officers.
- Section 10A-2-8.42 - Standards of conduct for officers.
- Section 10A-2-8.43 - Resignation and removal of officers.
- Section 10A-2-8.44 - Contract rights of officers.
- Section 10A-2-8.50 - Definitions.
- Section 10A-2-8.51 - Authority to indemnify.
- Section 10A-2-8.52 - Mandatory indemnification.
- Section 10A-2-8.53 - Advance for expenses.
- Section 10A-2-8.54 - Court-ordered indemnification.
- Section 10A-2-8.55 - Determination and authorization of indemnification.
- Section 10A-2-8.56 - Indemnification of officers, employees, and agents.
- Section 10A-2-8.57 - Insurance.
- Section 10A-2-8.58 - Application of indemnification provisions.
- Section 10A-2-8.60 - Definitions.
- Section 10A-2-8.61 - Judicial action.
- Section 10A-2-8.62 - Directors' action.
- Section 10A-2-8.63 - Shareholders' action.
Article 10 Amendment of Articles of Incorporation and Bylaws.
Division A Amendment of Articles of Incorporation.
- Section 10A-2-10.01 - Authority to amend articles of incorporation.
- Section 10A-2-10.02 - Amendment by board of directors.
- Section 10A-2-10.03 - Amendment by board of directors and shareholders.
- Section 10A-2-10.04 - Voting on amendments by voting groups.
- Section 10A-2-10.05 - Amendment before issuance of shares.
- Section 10A-2-10.06 - Articles of amendment.
- Section 10A-2-10.07 - Restated articles of incorporation.
- Section 10A-2-10.08 - Amendment pursuant to reorganization.
- Section 10A-2-10.09 - Effect of amendment.
- Section 10A-2-10.20 - Amendment by board of directors or shareholders.
- Section 10A-2-10.21 - Bylaw increasing quorum or voting requirement for shareholders.
- Section 10A-2-10.22 - Bylaw increasing quorum or voting requirement for directors.
- Section 10A-2-11.01 - Merger.
- Section 10A-2-11.02 - Share exchange.
- Section 10A-2-11.03 - Action on plan.
- Section 10A-2-11.04 - Merger of subsidiary.
- Section 10A-2-11.05 - Articles of merger or share exchange.
- Section 10A-2-11.06 - Effect of merger or share exchange.
- Section 10A-2-11.07 - Merger or share exchange with foreign corporation.
- Section 10A-2-11.08 - Nonexclusive.
- Section 10A-2-12.01 - Sale of assets in regular course of business and mortgage of assets.
- Section 10A-2-12.02 - Sale of assets other than in regular course of business.
Division A Right to Dissent and Obtain Payment for Shares.
- Section 10A-2-13.01 - Definitions.
- Section 10A-2-13.02 - Right to dissent.
- Section 10A-2-13.03 - Dissent by nominees and beneficial owners.
- Section 10A-2-13.20 - Notice of dissenters' rights.
- Section 10A-2-13.21 - Notice of intent to demand payment.
- Section 10A-2-13.22 - Dissenters' notice.
- Section 10A-2-13.23 - Duty to demand payment.
- Section 10A-2-13.24 - Share restriction.
- Section 10A-2-13.25 - Offer of payment.
- Section 10A-2-13.26 - Failure to take corporate action.
- Section 10A-2-13.27 - Reserved.
- Section 10A-2-13.28 - Procedure if shareholder dissatisfied with offer to payment.
- Section 10A-2-13.30 - Court action.
- Section 10A-2-13.31 - Court costs and counsel fees.
- Section 10A-2-13.32 - Status of shares after payment.
Division A Voluntary Dissolution.
- Section 10A-2-14.01 - Dissolution by incorporators or initial directors
- Section 10A-2-14.02 - Dissolution by board of directors and shareholders.
- Section 10A-2-14.03 - Articles of dissolution.
- Section 10A-2-14.04 - Revocation of dissolution.
- Section 10A-2-14.05 - Effect of dissolution.
- Section 10A-2-14.20 - Grounds for administrative dissolution.
- Section 10A-2-14.21 - Procedure for and effect of administrative dissolution.
- Section 10A-2-14.22 - Reinstatement following administrative dissolution.
- Section 10A-2-14.23 - Appeal from denial of reinstatement.
- Section 10A-2-14.30 - Grounds for judicial dissolution.
- Section 10A-2-14.31 - Procedure for judicial dissolution.
- Section 10A-2-14.32 - Receivership or custodianship.
- Section 10A-2-14.33 - Decree of dissolution.
- Section 10A-2-14.34 - Election to purchase in lieu of dissolution.
Division A Registration.
- Section 10A-2-15.01 - Registration required to transact business.
- Section 10A-2-15.02 - Consequences of transacting business without registering.
Division C Reserved.
Division D Acting in a Fiduciary Capacity.
- Section 10A-2-15.40 - Definitions.
- Section 10A-2-15.41 - Authority of foreign corporation to act as fiduciary.
- Section 10A-2-15.42 - Filing of verified statement with Commissioner of Revenue by foreign corporation prior to acting as fiduciary.
- Section 10A-2-15.43 - Foreign corporation acting as fiduciary not deemed doing business in this state.
- Section 10A-2-15.44 - Foreign corporation previously acting in fiduciary capacity in state.
- Section 10A-2-15.45 - Service of process on foreign corporation acting in fiduciary capacity.
Division A Records.
- Section 10A-2-16.01 - Corporate records.
- Section 10A-2-16.02 - Inspection of records by shareholders.
- Section 10A-2-16.03 - Scope of inspection right.
- Section 10A-2-16.04 - Court-ordered inspection.
- Section 10A-2-16.20 - Financial statements for shareholders.
- Section 10A-2-16.21 - Other reports to shareholders.
- Section 10A-2-16.22 - Annual report for Secretary of State.
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