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2020 Code of Alabama
Title 10A - Alabama Business and Nonprofit Entities Code.
Chapter 2 - Business Corporations.
Article 8 - Directors and Officers.
Division D - Officers.
Section 10A-2-8.44 - Contract Rights of Officers.
Universal Citation: AL Code § 10A-2-8.44 (2020)
Section 10A-2-8.44
Contract rights of officers.
REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.
(a) The appointment of an officer does not itself create contract rights.
(b) An officer's removal does not affect the officer's contract rights, if any, with the corporation. An officer's resignation does not affect the officer's contract rights, if any, with the corporation.
(Acts 1994, No. 94-245, p. 343, §1; §10-2B-8.44; amended and renumbered by Act 2009-513, p. 967, §122.)
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