Alabama Code 11-20-49. Exemptions of corporations – Competitive bid laws
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Terms Used In Alabama Code 11-20-49
- 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.
Each corporation organized under the provisions of this article, and all contracts made by such corporations, shall be exempt from the provisions and requirements of Sections 41-16-50 through 41-16-63.