™Your Policy Risk Impact Agent
35 chapters · 1,159 sections in this title.
Ala. Code § 10A-30-2.05 Issuance or Transfer of Shares of a Close Corporation in Breach of Qualifying Conditions; Applicable to Corporations Formed as Close Corporations or Electing Close Corporation Status Prior to January 1, 1995
2.2K chars
(a) If shares of a close corporation are issued or transferred to any person who is not entitled under any provision of the certificate of formation permitted by Section 10A-30-2.02 to be a holder of record of shares of the corporation, and if the certificate for shares conspicuo…
Ala. Code § 10A-30-2.06 Corporate Option Where a Restriction on Transfer of Shares Is Held Invalid; Applicable to Corporations Formed as Close Corporations or Electing Close Corporation Status Prior to January 1, 1995
1.0K chars
If a restriction on transfer of shares of a close corporation is held not to be authorized by the Alabama Business Corporation Law, the corporation shall nevertheless have an option for a period of 30 days after the judgment setting aside the restriction becomes final, to acquire…
Ala. Code § 10A-30-2.07 Agreements Restricting Discretion of Directors; Applicable to Corporations Formed as Close Corporations or Electing Close Corporation Status Prior to January 1, 1995
0.9K chars
A written agreement among the shareholders of a close corporation holding a majority of the outstanding shares entitled to vote, whether solely among themselves or with a party not a shareholder, is not invalid, as between the parties to the agreement, on the ground that it so re…