GroundRules
Ala. Code § 10A-20-7.06: Membership - Withdrawal.
Where this section sits in the code
- Title 10A Alabama Business and Nonprofit Entities Code.
- Chapter 20 Special Purpose Entities.
- Article 7 Industrial Development Corporation.
(a) Membership in the corporation shall be for the duration of the corporation; provided, that upon written notice given to the corporation five years in advance, a member may withdraw from membership in the corporation at the expiration date of the notice.
(b) A member shall not be obligated to make any loans to the corporation pursuant to calls made subsequent to notice of the intended withdrawal of the member.
Collected 2026-09-03T14:01:53Z. Source file · JSON