This bill would make changes to the Alabama
Business and Nonprofit Entity Code by revising the
Alabama Business Corporation Law to reflect the
national standards set by the Model Business
Corporation Act of 2016 and the Delaware General
Corporation Law, and would make conforming changes
throughout the Alabama Business and Nonprofit
Entity Code in order to effectuate the changes to
the Alabama Business Corporation Law and conform
with the other entities governed by the Alabama
Business and Nonprofit Entity Code
Relating to business entities; to add Chapter 2A to
Title 10A, consisting of Sections 10A-2A-1.01 to 10A-2A-17.06,
inclusive, to the Code of Alabama 1975, substantially revising
the Alabama Business Corporation Law to reflect the national
standards set by the Model Business Corporation Act of 2016
and the Delaware General Corporation Law; to amend Sections
10A-1-1.02, 10A-1-1.03, 10A-1-1.08, 10A-1-1.12, 10A-1-3.05,
10A-1-3.06, 10A-1-3.32, 10A-1-3.42, 10A-1-4.01, and
10A-1-4.02, Code of Alabama 1975, as amended by Act 2018-125;
to amend Sections 10A-1-4.04, 10A-1-4.06, 10A-1-4.11,
10A-1-4.13, 10A-1-4.15, 10A-1-4.21, 10A-1-4.23, and
10A-1-4.24, Code of Alabama 1975; to amend Section 10A-1-4.25,
Code of Alabama 1975, as amended by Act 2018-125; to amend
Section 10A-1-4.26, Code of Alabama 1975; to amend Sections
10A-1-4.31, 10A-1-5.01, and 10A-1-5.08, Code of Alabama 1975,
as amended by Act 2018-125; to amend Section 10A-1-6.01, Code
of Alabama 1975; to amend Sections 10A-1-6.02, 10A-1-7.01,
10A-1-7.04, and 10A-1-7.11, Code of Alabama 1975, as amended
by Act 2018-125; to amend Section 10A-1-7.21, Code of Alabama
1975; to amend Sections 10A-1-7.31, 10A-1-8.01, and
10A-1-8.02, Code of Alabama 1975, as amended by Act 2018-125;
to amend Sections 10A-1-8.04, 10A-1-9.01, 10A-4-2.02,
10A-4-4.01, 10A-4-4.02, 10A-4-5.01, 10A-4-5.04, 10A-5A-10.01,
10A-5A-10.03, 10A-5A-10.04, 10A-5A-10.05, and 10A-5A-10.07,
Code of Alabama 1975; to amend Section 10A-5A-10.08, Code of
Alabama 1975, as amended by Act 2018-125; to amend Sections
10A-8A-9.02, 10A-8A-9.04, 10A-8A-9.05, 10A-8A-9.06,
10A-8A-9.08, and 10A-8A-9.09, as added to the Code of Alabama
1975 by Act 2018-125; to amend Sections 10A-9A-10.02,
10A-9A-10.04, 10A-9A-10.05, 10A-9A-10.06, and 10A-9A-10.08,
Code of Alabama 1975; to amend Section 10A-9A-10.09, Code of
Alabama 1975, as amended by Act 2018-125; to amend Sections
10A-10-1.09, 10A-10-1.12, 10A-10-1.15, 10A-10-1.16,
10A-11-1.01, 10A-11-1.03, 10A-11-1.04, 10A-11-1.06,
10A-11-1.12, 10A-30-2.01, 10A-30-2.03, 10A-30-2.04,
10A-30-2.05, 10A-30-2.06, 10A-30-2.09, 10A-30-2.12, and
10A-30-2.13, Code of Alabama 1975, to make conforming changes
throughout the Alabama Business and Nonprofit Entity Code in
order to effectuate the changes to the Alabama Business
Corporation Law and conform with the other entities governed
by the Alabama Business and Nonprofit Entity Code; and to
repeal Chapter 2 of Title 10, consisting of Sections
10A-2-1.01 to 10A-2-17.02, inclusive, Code of Alabama 1975.
