(a) The certificate of incorporation of any corporation organized under this part shall set forth all of the following:

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Terms Used In Alabama Code 45-49-90.03

  • 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.
  • following: means next after. See Alabama Code 1-1-1
  • state: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Alabama Code 1-1-1
(1) The names and residences of the applicants together with a recital that each of them is an elector of and taxpayer in the county.
(2) The name of the corporation, which shall be the Industrial Park Board of Mobile County, if such name shall be available for use by the corporation and if not available, then the incorporators shall designate some other similar name that is available.
(3) A recital that permission to organize the corporation has been granted by a resolution duly adopted by the governing body of the county and, if applicable, any participating municipality and the date of the adoption of such resolution or resolutions.
(4) The location of the principal office of the corporation, which shall be in the county.
(5) The purposes for which the corporation is proposed to be organized.
(6) The number of directors of the corporation, which shall not be less than six.
(7) The period, if any, for the duration of the corporation; if the duration is perpetual, the fact should be stated.
(8) The manner in which net earnings of the corporation shall be disposed of periodically or upon a dissolution of the corporation.
(9) Any other matter which the applicants may choose to insert therein which shall not be inconsistent with this part or with the laws of the State of Alabama.
(b) The certificate of incorporation shall be subscribed and acknowledged by each of the applicants before an officer authorized by the laws of Alabama to take acknowledgements to deeds.
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