§ 10A-11-1.01 Short title
§ 10A-11-1.02 Definitions
§ 10A-11-1.03 Election as employee cooperative
§ 10A-11-1.04 Revocation
§ 10A-11-1.05 Corporate name
§ 10A-11-1.06 Members; membership shares; rights and responsibilities
§ 10A-11-1.07 Directors and officers
§ 10A-11-1.08 Voting power; amendment or repeal of bylaws; protection of stockholders
§ 10A-11-1.09 Apportionment, etc., of net earnings or losses
§ 10A-11-1.10 Internal capital accounts
§ 10A-11-1.11 Internal capital account cooperatives
§ 10A-11-1.12 Conversion of membership shares, etc.; merger of employee cooperatives

Terms Used In Alabama Code > Title 10A > Chapter 11

  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • COLLECTIVE RESERVE ACCOUNT: An internal capital account that represents the portion of the net book value of the corporation attributable to the cooperative. See Alabama Code 43-2-747
  • cooperative: Includes an employee cooperative as defined in Chapter 11. See Alabama Code 45-26-231.06
  • corporation: Includes a domestic or foreign business corporation as defined in Chapter 2, a domestic or foreign nonprofit corporation as defined in Chapter 3, a domestic or foreign professional corporation as defined in Chapter 4, and those entities specified in Chapter 20 as corporate. See Alabama Code 45-26-231.06
  • director: An individual who serves on the board of directors, by whatever name known, of a foreign or domestic corporation. See Alabama Code 45-26-231.06
  • distribution: A transfer of property, including cash, from an entity to an owner or member of the entity in the owner's or member's capacity as an owner or member. See Alabama Code 45-26-231.06
  • EMPLOYEE COOPERATIVE: A corporation which has elected to be governed by this chapter. See Alabama Code 43-2-747
  • Executor: A male person named in a will to carry out the decedent
  • individual: A natural person and the estate of an incompetent or deceased natural person. See Alabama Code 45-26-231.06
  • INTERNAL CAPITAL ACCOUNT COOPERATIVE: An employee cooperative governed in accordance with Section 10A-11-1. See Alabama Code 43-2-747
  • INTERNAL CAPITAL ACCOUNTS: A system of accounts on the books of an employee cooperative that reflects the book value of the corporation. See Alabama Code 43-2-747
  • law: Unless the context requires otherwise, both statutory and common law. See Alabama Code 45-26-231.06
  • Legatee: A beneficiary of a decedent
  • member: A natural person who has been accepted for membership in and owns a membership share issued by an employee cooperative. See Alabama Code 43-2-747
  • MEMBERSHIP FEE: The consideration paid for a membership share. See Alabama Code 43-2-747
  • MEMBERSHIP SHARE: A single share of voting stock issued to each member of a worker cooperative as evidence of membership. See Alabama Code 43-2-747
  • officer: An individual elected, appointed, or designated as an officer of an entity by the entity's governing authority or under the entity's governing documents. See Alabama Code 45-26-231.06
  • patronage: The amount of work performed as a member of an employee cooperative, measured in accordance with the governing documents. See Alabama Code 43-2-747
  • person: An individual, including the estate of an incompetent or deceased individual, or an organization, whether created by the laws of this state or another state or foreign country, including, without limitation, a general partnership, limited liability partnership, limited partnership, limited liability limited partnership, limited liability company, corporation, professional corporation, professional association, trustee, personal representative, fiduciary, as defined in Section 19-3-150 or person performing in any similar capacity, business trust, estate, trust, association, joint venture, government, governmental subdivision, agency, or instrumentality, or any other legal or commercial entity. See Alabama Code 45-26-231.06
  • property: Includes all property, whether real, personal, or mixed, or tangible or intangible, or any right or interest therein. See Alabama Code 45-26-231.06
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.