Alabama Code 35-20-14. Dissolution and liquidation of assets upon termination of declaration
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Terms Used In Alabama Code 35-20-14
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
Upon the termination of a declaration, or at such other time as required by law, the board of directors shall take those steps necessary for the immediate dissolution and liquidation of the association and any remaining assets.