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2020 Code of Alabama
Title 10A - Alabama Business and Nonprofit Entities Code.
Chapter 2A
Article 7 - Stockholders.
Division D - Derivative Proceedings.
Section 10A-2A-7.40 - Division Definitions.
Universal Citation: AL Code § 10A-2A-7.40 (2020)
Section 10A-2A-7.40
Division definitions.
In this division:
(1) COURT means the designated court, and if none, the circuit court for the county in which the corporation's principal office is located in this state, and if none in this state, the circuit court for the county in which the corporation's most recent registered office is located.
(2) DERIVATIVE ACTION means a civil suit in the right of a corporation or, to the extent provided in Section 10A-2A-7.48, in the right of a foreign corporation.
(3) STOCKHOLDER means a record stockholder, a beneficial stockholder, and an unrestricted voting trust beneficial owner.
(Act 2019-94, §1; Act 2020-73, §7.)
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