SB427 Alabama 2019 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2019
Title
Business entity law, authorizing the creation of benefit corporations, Secs. 10A-12-1.01, 10A-12-1.02, 10A-12-1.03, 10A-12-2.01, 10A-12-2.02, 10A-12-2.03, 10A-12-3.01, 10A-12-3.02, 10A-12-3.03, 10A-12-4.01, 10A-12-4.02, 10A-12-5.01 added; Sec. 10A-1-1.08 am'd.
Description
This bill would add to Alabama's entity laws the ability to create benefit corporations and benefit limited liability companies, and would provide for the governance of these benefit entities.
The bill would also extend certain business incentives to benefit entities.
Relating to business entities; to add a new Chapter o Title 10A of the Code of Alabama 1975, to allow for the creation of benefit corporations and benefit limited liability companies; to provide for the governance of these benefit entities; to extend certain business incentives to benefit entities; and to amend Section 10A-1-1.08 Code of Alabama 1975, to make conforming changes.
Subjects
Business Entities
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| May 23, 2019 | S | Pending third reading on day 25 Favorable from Fiscal Responsibility and Economic Development |
| May 23, 2019 | S | Read for the second time and placed on the calendar |
| May 22, 2019 | S | Read for the first time and referred to the Senate committee on Fiscal Responsibility and Economic Development |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB427 Alabama 2019 Session - Introduced |
Source: Alabama Legislature