Terms Used In Alabama Code > Title 45 > Chapter 30 > Article 11 > Part 1 - Board of Registrars

• 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.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• person: includes a corporation as well as a natural person. See Alabama Code 1-1-1
• property: includes both real and personal property. 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
• United States: includes the territories thereof and the District of Columbia. See Alabama Code 1-1-1