GroundRules
Ala. Code § 10A-30-2.03: Formation of a Close Corporation; Applicable to Corporations Formed as Close Corporations Before January 1, 1995.
Where this section sits in the code
- Title 10A Alabama Business and Nonprofit Entities Code.
- Chapter 30 Provisions Applicable to Exisiting Entities of a Type That May No Longer Be Formed:unincorporated Professional Associations and Close Corporations.
- Article 2 Close Corporations.
A close corporation which was formed in accordance with former Sections 10-2A-90 through 10-2A-96 must have been authorized by the affirmative vote of all holders of and subscribers to shares of the corporation, and:
(1) The certificate of formation contains a heading stating the name of the corporation and that it is a close corporation; and
(2) The certificate of formation contains the provisions required by Section 10A-30-2.02; and
(3) Each certificate for shares conspicuously notes the fact that the corporation is a close corporation and make reference to the restriction on transfer of shares set forth in the certificate of formation.
Collected 2026-09-03T14:01:53Z. Source file · JSON