(a) If after a hearing the court determines that one or more grounds for judicial dissolution described in Section 10A-3A-11.20 exist, the court may enter a decree dissolving the nonprofit corporation and specifying the effective date of the dissolution. If the court enters a decree dissolving the nonprofit corporation, then the clerk of the court shall deliver a certified copy of the decree to the Secretary of State for filing.
non profit

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Terms Used In Alabama Code 10A-3A-11.23

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • certificate of incorporation: as used in this chapter is synonymous to the term certificate of formation used in Chapter 1. See Alabama Code 10A-3A-1.02
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • person: includes a corporation as well as a natural person. See Alabama Code 1-1-1
  • state: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Alabama Code 1-1-1
(b) After entering the decree of dissolution, the court shall direct the winding up and liquidation of the nonprofit corporation’s activities and affairs in accordance with Section 10A-3A-11.07 and the notification of claimants in accordance with Sections 10A-3A-11.08 and 10A-3A-11.09.
(c) If after a hearing the court determines pursuant to Section 10A-3A-11.22(c)(3) that a nonprofit corporation should not be dissolved, but should continue its activities and affairs, the court shall issue a decree naming at least one person as a member of the nonprofit corporation if it is a membership nonprofit corporation, naming at least one director if the nonprofit corporation is a nonmembership nonprofit corporation, and such other matters as the court may determine. If the court approves an amendment to the certificate of incorporation in accordance with Section 10A-3A-11.22(c)(3), then the court’s decree shall also set forth that amendment, specifying the effective date of that amendment, and the clerk of the court shall deliver a certified copy of the decree to the Secretary of State for filing.
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