Alabama § 10A-20-9.03 Powers

Alabama Statutes

§ 10A-20-9.03 — Powers

Alabama § 10A-20-9.03

Title 10AAlabama Business and Nonprofit Entities Code

Ch. 20Special Purpose Entities

Art. 9Single-Tax and Other Mutual Economic Associations

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Bluebook

Ala. Code § 10A-20-9.03 (2026).

Text

A corporation formed pursuant to this article shall have the power to buy, sell, lease, and mortgage real estate, to build and operate wharves, boats, and other means of transportation and communication, to build, erect, and operate waterworks, electric lighting and power companies, libraries, schools, and parks, and to do any other lawful thing, incident to its purpose for the mutual benefit of its members and may admit other persons to participate in its benefits as it may see fit and upon conditions as it may impose.

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A corporation formed pursuant to this article shall have the power to buy, sell, lease, and mortgage real estate, to build and operate wharves, boats, and other means of transportation and communication, to build, erect, and operate waterworks, electric lighting and power companies, libraries, schools, and parks, and to do any other lawful thing, incident to its purpose for the mutual benefit of its members and may admit other persons to participate in its benefits as it may see fit and upon conditions as it may impose.

Legislative History

(Code 1907, §3573; Code 1923, §7046; Code 1940, T. 10, §168; Acts 1966, Ex. Sess., No. 445, p. 602, §1; Acts 1976, No. 584, p. 795; §10-4-192; amended and renumbered by Act 2009-513, p. 967, §340.)