SB204 Alabama 2024 Session

Updated Feb 23, 2026

Low Interest

Summary

Primary Sponsor: David SessionsSenator
Republican
Session: Regular Session 2024
Title: Domestic and Foreign Corporations; annual report requirement removed
Summary: SB204 repeals the requirement for corporations to file an annual report with the Secretary of State in Alabama, while preserving certain recordkeeping and revised notice rules.
What This Bill Does
The bill eliminates the annual report filing requirement (and repeals the related Section 10A-2A-16.11). It still requires corporations to maintain core records (like the certificate of incorporation, bylaws, minutes, and a current stockholder list) and to keep them accessible. It updates notice rules to allow electronic delivery to stockholders with consent and defines how notice receipt is determined, including provisions for impracticable delivery. The act becomes effective on October 1, 2024.

Who It Affects
Domestic and foreign corporations authorized to transact business in Alabama: no longer must file an annual report with the Secretary of State, reducing regulatory filing obligations, but they must continue maintaining required corporate records and follow revised notice/communication rules.
Stockholders and other recipients of corporate notices: notice and communications may be delivered electronically with consent, and stockholders must be provided current contact information as part of records; receipt and timing rules for notices are defined.

Key Provisions
Repeals the requirement for corporations to file an annual report with the Secretary of State (Section 10A-2A-16.11).
Maintains recordkeeping requirements for corporations, including certificate of incorporation, bylaws, notices to stockholders, minutes, and a current stockholders list (Section 10A-2A-16.01).
Adds and clarifies electronic notice/communication rules (Section 10A-2A-1.41), including consent for electronic delivery, deemed receipt, and alternative delivery methods if electronic delivery is impracticable.
Preserves grounds to revoke a foreign entity’s registration for noncompliance with various requirements (Section 10A-1-7.12), such as failure to deliver annual reports when required and other specified failures.
Effective date of October 1, 2024.

AI-generated summary using openai/gpt-5-nano on Feb 22, 2026. May contain errors — refer to the official bill text for accuracy.
Subjects: Businesses & Financial Institutions