Alabama Code 45-2-40.01. Definitions
Current as of: 2024 | Check for updates
|
Other versions
The following words and terms as used in this article shall, unless the context requires a different meaning, have the meanings respectively ascribed to them by this section:
Terms Used In Alabama Code 45-2-40.01
- 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.
- establishment: shall mean a place of business or operation of any kind. See Alabama Code 45-2-40.01
- following: means next after. See Alabama Code 1-1-1
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- person: shall include a firm, partnership, association of persons, corporation, organization, or any other group acting as a unit. See Alabama Code 45-2-40.01