Terms Used In Alabama Code 45-35A-54.21

  • 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.

Except as herein provided for, and at the time of holding the same, all elections herein required shall be held according to the general laws of Alabama. At any such election the proposition to be submitted to the voters shall be: “Shall the governing body of the City of ______ be authorized to transfer and convey the city owned waterworks plant and system, sewer plant and system, electric plant and system, gas plant and system, or any one or more thereof, or any part or parts of such plants or systems, or any rights incidental thereto to any board or public corporation organized under Chapter 50, Title 11, or to any board created or established by any subsequent act providing for the incorporation of like boards to own and operate any such plant or systems or both, the members of which board will not be elected by the qualified voters of the City of ______.

“NO____ YES____.”