§ 10A-20-1.07 — Dissolution

Alabama § 10A-20-1.07

• Jurisdiction: Alabama
• Title 10A: Alabama Business and Nonprofit Entities Code
• Ch. 20: Special Purpose Entities
• Art. 1: Bishop of Diocese

Text

Any corporation sole under this article may be dissolved by the bishop who constitutes the corporation filing with the Secretary of State an application therefor, which shall be subscribed, sworn to, and certified as in the case of an application for incorporation. Upon the filing of the certificate, the corporation shall cease, and all its property rights and liabilities shall pass to the bishop, but no bishop shall be responsible for liabilities of a dissolved corporation in any greater sum than the value of property of the corporation which may come into possession of the bishop upon its dissolution. The Secretary of State shall record the application for dissolution and shall make and issue to the bishop, under the seal of the state, a certificate that the corporation is dissolved and shall record this certificate with the application for dissolution.

Legislative History

(Acts 1911, No. 429, p. 452; Code 1923, §7118; Code 1940, T. 10, §121; §10-4-7; amended and renumbered by Act 2009-513, p. 967, §324.)