SB569 Alabama 2012 Session

Updated Jul 25, 2021

Summary

Primary Sponsor: Cam Ward
Republican
Session: Regular Session 2012
Title: Corporations, definition, authorization and regulation of a benefit corporation
Description: Under existing law, the Alabama Business Corporation Law authorizes and regulates the formation and governance of general corporations.
The Alabama Nonprofit Corporation Law authorizes the formation and governs the nonprofit corporation.
This bill would authorize and regulate the formation of a benefit corporation.
This bill would define terms.
This bill would permit an existing corporation to become a benefit corporation.
This bill would provide standards of conduct for directors and officers.
Subjects: Corporations

Read for the first time and referred to the Senate committee on Judiciary