Ala. Code § 10A-2A-9.01

Current through the 2024 Regular Session.

Section 10A-2A-9.01 - Definitions

As used in this Article 9:

As used in this article, unless the context otherwise requires, the following terms have the following meanings:

(1) CONVERTED ORGANIZATION means the organization into which a converting organization converts pursuant to this article.

(2) CONVERTING CORPORATION means a converting organization that is a corporation.

(3) CONVERTING ORGANIZATION means an organization that converts into another organization pursuant to this article.

(4) GOVERNING STATUTE of an organization means the statute that governs the organization's internal affairs.

(5) ORGANIZATION means a general partnership, including a limited liability partnership; limited partnership, including a limited liability limited partnership; limited liability company; business trust; corporation; nonprofit corporation; professional corporation; or any other person having a governing statute. The term includes domestic and foreign organizations whether or not organized for profit.

(6) ORGANIZATIONAL DOCUMENTS means:

(A) for a general partnership or foreign general partnership, its partnership agreement and if applicable, its registration as a limited liability partnership or a foreign limited liability partnership;

(B) for a limited partnership or foreign limited partnership, its certificate of formation and partnership agreement, or comparable writings as provided in its governing statute;

(C) for a limited liability company or foreign limited liability company, its certificate of formation and limited liability company agreement, or comparable writings as provided in its governing statute;

(D) for a business or statutory trust or foreign business or statutory trust, its agreement of trust and declaration of trust, or comparable writings as provided in its governing statute;

(E) for a corporation for profit or foreign corporation for profit, its certificate of incorporation, bylaws, and other agreements among its stockholders that are authorized by its governing statute, or comparable writings as provided in its governing statute;

(F) for a nonprofit corporation or foreign nonprofit corporation, its certificate of incorporation, bylaws, and other agreements that are authorized by its governing statute, or comparable writings as provided in its governing statute;

(G) for a professional corporation or foreign professional corporation, its certificate of incorporation, bylaws, and other agreements among its stockholders that are authorized by its governing statute, or comparable writings as provided in its governing statute; and

(H) for any other organization, the basic writings that create the organization and determine its internal governance and the relations among the persons that own it, have an interest in it, or are members of it.

Ala. Code § 10A-2A-9.01 (1975)

Amended by Act 2021-299,§ 3, eff. 1/1/2022.

Added by Act 2019-94,§ 1, eff. 1/1/2020.