Corporations 

Alabama Code > Title 10 > Chapter 2A > § 10-2A-302 - Formation of a close corporation

A close corporation shall be formed in accordance with Sections 10-2A-90 through 10-2A-96, except that such formation must be authorized by the affirmative vote of all holders of and subscribers to shares of the corporation, and:

(1) The articles of incorporation shall contain a heading stating the name of the corporation and that it is a close corporation; and

(2) The articles of incorporation shall contain the provisions required by Section 10-2A-301; and

(3) Each certificate for shares shall conspicuously note the fact that the corporation is a close corporation and make reference to the restriction on transfer of shares set forth in the articles of incorporation.

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Questions & Answers: Corporations

A corporation was dissolved by the state due to 17 years of unpaid annual report fees. The sole owner of the corporation has died. He has left the dissolved corporation's buildin...

Shari, Please clarify what you mean when you say the owner "left" the corporation's building to his children. Even though the corporation was dissolved it still continues to exist...

The building and the shares were given to the children the will. There are 17 years of back annual renewal fees that are delinquent and unpaid by the corporation. The will also s...

Shari, Strictly speaking, I don't see how the will could leave the building to the children. If I understand correctly, the father did not personally own the building in his own na...

There are 6 shareholders that are all related. Four of the shareholders are involved in the creation of the new LLC without the other 2 shareholders. No transfers of shares have...

If the president of a board says something to a child (member) in her vehicle on personal time. Then that child repeats it to another child (member) during company time is the boa...

Alabama Laws: Corporations

U.S. Code Provisions: Corporations

U.S. Code > Title 15 > Chapter 98 - Public Company Accounting Reform And Corporate Responsibility

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