Alabama § 10A-1-6.32 Reports of Indemnification and Advances

Alabama Statutes

§ 10A-1-6.32 — Reports of Indemnification and Advances

Alabama § 10A-1-6.32

JurisdictionAlabama

Title 10AAlabama Business and Nonprofit Entities Code

Ch. 1General Provisions

Art. 6Indemnification and Insurance

Div. DLiability Insurance; Reporting Requirements

This text of Alabama § 10A-1-6.32 (Reports of Indemnification and Advances) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ala. Code § 10A-1-6.32 (2026).

Text

(a)An enterprise shall report in writing to the owners or members of the enterprise an indemnification of or advance of expenses to a governing person.

(b)Subject to subsection (c), the report must be made with or before the notice or waiver of notice of the next meeting of the owners or members of the enterprise and before the next submission to the owners or members of a consent to action without a meeting.

(c)A report required by this section must be made not later than the first anniversary of the date of the indemnification or advance.

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(a) An enterprise shall report in writing to the owners or members of the enterprise an indemnification of or advance of expenses to a governing person.
(b) Subject to subsection (c), the report must be made with or before the notice or waiver of notice of the next meeting of the owners or members of the enterprise and before the next submission to the owners or members of a consent to action without a meeting.
(c) A report required by this section must be made not later than the first anniversary of the date of the indemnification or advance.