(a) The incorporators or board of directors of a nonprofit corporation shall adopt initial bylaws for the nonprofit corporation.
non profit

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Terms Used In Alabama Code 10A-3A-2.05

  • 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
  • Contract: A legal written agreement that becomes binding when signed.
  • 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.
(b) The bylaws of a nonprofit corporation may contain any provision that is not inconsistent with law or the certificate of incorporation.
(c) The bylaws are a part of a binding contract between the nonprofit corporation and (i) the members in a membership nonprofit corporation and (ii) the directors in a nonmembership nonprofit corporation, subject to the provisions of this chapter.
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