SB174 Alabama 2019 Session

Summary

Primary Sponsor

Sam Givhan Senator

Republican

Session

Regular Session 2019

Title

Business entities, revising the Alabama Business Corporation Law, to reflect national standards set by the Model Business Corporation Act, Secs. 10A-2A-1.01 to 10A-2A-17.06, inclusive added; Secs. 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, 10A-1-4.02, 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, 10A-1-4.24, 10A-1-4.25, 10A-1-4.26, 10A-1-4.31, 10A-1-5.01, 10A-1-5.08, 10A-1-6.01, 10A-1-6.02, 10A-1-7.01, 10A-1-7.04, 10A-1-7.11, 10A-1-7.21, 10A-1-7.31, 10A-1-8.01, 10A-1-8.02, 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, 10A-5A-10.07, 10A-5A-10.08, 10A-8A-9.02, 10A-8A-9.04, 10A-8A-9.05, 10A-8A-9.06, 10A-8A-9.08, 10A-8A-9.09, 10A-9A-10.02, 10A-9A-10.04, 10A-9A-10.05, 10A-9A-10.06, 10A-9A-10.08, 10A-9A-10.09, 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10A-30-2.05, 10A-30-2.06, 10A-30-2.09, 10A-30-2.12, 10A-30-2.13, am'd; Secs. 10A-2-1.01 to 10A-2-17.02, inclusive, repealed

Description

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.

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Subjects

Business and Commerce