GroundRules
Ala. Code § 10A-2A-14.08: Director Duties.
Where this section sits in the code
- Title 10A Alabama Business and Nonprofit Entities Code.
- Chapter 2A Alabama Business Corporation Law.
- Article 14 Dissolution.
- Division A Voluntary Dissolution.
(a) Directors shall cause the dissolved corporation to discharge or make reasonable provision for the payment of claims and make distributions in liquidation of assets to stockholders after payment or provision for claims.
(b) Directors of a dissolved corporation which has disposed of claims under Section 10A-2A-14.06 or Section 10A-2A-14.07 shall not be liable for breach of Section 10A-2A-14.08(a) with respect to claims against the dissolved corporation that are barred or satisfied under Section 10A-2A-14.06 or Section 10A-2A-14.07.
Collected 2026-09-03T14:01:53Z. Source file · JSON