SB104 Alabama 2022 Session
Signed by Governor
Bill Summary
Sponsors
Session
Regular Session 2022
Title
Corporations, stock, issuance in fractional shores reg., issuance of scrip in bearer form prohibited, Sec. 10A-2A-6.04 am'd.
Description
<p class="bill_description"> Under existing law, a corporation in the
State of Alabama may issue fractions of a share of
stock in registered or bearer form. A scrip in
bearer form is a certificate representing a
fraction of a share of stock that is not registered
in the issuing corporation's books</p><p class="bill_description">
This bill would prohibit a corporation from
issuing scrip in bearer form, thereby requiring a
corporation to register all issued scrip of
fractional stock</p><p class="bill_description">
This bill would also provide that a
corporation that issues or transfers scrip in
uncertificated form shall comply with the
appropriate notice requirements</p><p class="bill_entitled_an_act"> Relating to business and nonprofit entities; to
amend Section 10A-2A-6.04, Code of Alabama 1975, to revise the
requirements for a corporation to issue or transfer fractional
stock; and to prohibit a corporation from issuing a
certificate representing scrip in bearer form.
</p>
Subjects
Corporations
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| March 3, 2022 | S | Assigned Act No. 2022-124. |
| March 3, 2022 | S | Enrolled |
| March 3, 2022 | H | Signature Requested |
| March 3, 2022 | S | Passed Second House |
| March 3, 2022 | H | Motion to Read a Third Time and Pass adopted Roll Call 464 |
| March 3, 2022 | H | Third Reading Passed |
| February 16, 2022 | H | Read for the second time and placed on the calendar |
| February 8, 2022 | H | Read for the first time and referred to the House of Representatives committee on Financial Services |
| February 8, 2022 | S | Motion to Read a Third Time and Pass adopted Roll Call 136 |
| February 8, 2022 | S | Third Reading Passed |
| February 2, 2022 | S | Read for the second time and placed on the calendar |
| January 18, 2022 | S | Read for the first time and referred to the Senate committee on Fiscal Responsibility and Economic Development |
Bill Calendar
| Type | Date | Location | Description |
|---|---|---|---|
| Hearing | February 16, 2022 | Room 617 at 09:30 | House FS Hearing |
| Hearing | February 2, 2022 | Room 825 - BILL ADDED/TIME CHANGE at 11:30 | Senate FRED Hearing |
Bill Text
Bill Votes
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB104 Alabama 2022 Session - Introduced |
| Bill Text | SB104 Alabama 2022 Session - Enrolled |
| Fiscal Note | Fiscal Note - SB104 for Fiscal Responsibility and Economic Development |
| Fiscal Note | Fiscal Note - SB104 for Financial Services |
| Fiscal Note | Fiscal Note - SB104 for |