Alabama Business and Nonprofit Entities Code. revisions made to clarify procedures, make technical corrections, and codify common law
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Progress
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- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill revises the Alabama Business and Nonprofit Entities Code to clarify procedures, make technical corrections, and codify common law. It addresses issues such as correcting filing instruments, requiring registered agents to have physical addresses, and clarifying the process for foreign entities withdrawing their business certificates. The bill also clarifies proxy matters, record requests, and the duties of stockholders, while providing safe harbors for officers and directors in certain transactions. Finally, it adds a new division to address specific issues related to foreign entities.
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