Ala. Code § 10A-4-3.05

Current through the 2024 Regular Session.

Section 10A-4-3.05 - Voting trusts

A voting trust with respect to stock of a domestic professional corporation shall not be valid unless all the trustees and beneficiaries thereof are qualified persons, except that a voting trust may be validly continued for a period of 12 months after the death of a deceased beneficiary or after a beneficiary has become a disqualified person.

Ala. Code § 10A-4-3.05 (1975)

Amended by Act 2024-413,§ 1, eff. 8/1/2024.

Acts 1983, No. 83-514, p. 763, §13; §10-4-392; amended and renumbered by Act 2009-513, p. 967, § 205.