Alabama § 10A-18-1.04 Alabama Statewide Trade Association Records

Alabama Statutes

§ 10A-18-1.04 — Alabama Statewide Trade Association Records

Alabama § 10A-18-1.04

Title 10AAlabama Business and Nonprofit Entities Code

Ch. 18Alabama Statewide Trade Associations

This text of Alabama § 10A-18-1.04 (Alabama Statewide Trade Association Records) 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-18-1.04 (2026).

Text

(a)In lieu of any records required to be maintained by a membership nonprofit corporation under the Alabama Nonprofit Corporation Law, a statewide trade association must maintain the following records:

(1)its certificate of incorporation as currently in effect;

(2)its bylaws as currently in effect;

(3)its policies and procedures as currently in effect;

(4)minutes of all meetings of its board of directors and its members;

(5)a list of the names and business addresses of its current directors and officers;

(6)its annual financial statements, annual audits, and annual federal and state income tax returns for its last three fiscal years (or such shorter period of existence); and

(7)a list of its current members in alphabetical order by class of membership showing the address for each m

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(a) In lieu of any records required to be maintained by a membership nonprofit corporation under the Alabama Nonprofit Corporation Law, a statewide trade association must maintain the following records:
(1) its certificate of incorporation as currently in effect;
(2) its bylaws as currently in effect;
(3) its policies and procedures as currently in effect;
(4) minutes of all meetings of its board of directors and its members;
(5) a list of the names and business addresses of its current directors and officers;
(6) its annual financial statements, annual audits, and annual federal and state income tax returns for its last three fiscal years (or such shorter period of existence); and
(7) a list of its current members in alphabetical order by class of membership showing the address for each member to which notices and other communications from the Alabama statewide trade association are to be sent.
(b) An Alabama statewide trade association shall maintain its books and records for its last three fiscal years (or such shorter period of existence) in a form that permits preparation of the financial statements in accordance with generally accepted accounting principles as applied to nonprofit corporations. Financial statements shall mean balance sheets, income statements, statements of activities, notes to financial statements, statements of financial position, and any investment summaries.
(c) An Alabama statewide trade association shall have an annual audit of its financial statements. The audit shall be conducted by an independent certified public accounting firm that regularly audits nonprofit entities. The independent certified public accounting firm shall be appointed annually by the board of directors.