Alabama § 10A-30-2.03 Formation of a Close Corporation; Applicable to Corporations Formed as Close Corporations Before January 1, 1995

Alabama Statutes

§ 10A-30-2.03 — Formation of a Close Corporation; Applicable to Corporations Formed as Close Corporations Before January 1, 1995

Alabama § 10A-30-2.03

Title 10AAlabama Business and Nonprofit Entities Code

Ch. 30Provisions Applicable to Exisiting Entities of a Type That May No Longer Be Formed:unincorporated Professional Associations and Close Corporations

Art. 2Close Corporations

This text of Alabama § 10A-30-2.03 (Formation of a Close Corporation; Applicable to Corporations Formed as Close Corporations Before January 1, 1995) 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-30-2.03 (2026).

Text

A close corporation which was formed in accordance with former Sections 10-2A-90 through 10-2A-96 must have been authorized by the affirmative vote of all holders of and subscribers to shares of the corporation, and:

(1)The certificate of formation contains a heading stating the name of the corporation and that it is a close corporation; and

(2)The certificate of formation contains the provisions required by Section 10A-30-2.02; and

(3)Each certificate for shares conspicuously notes the fact that the corporation is a close corporation and make reference to the restriction on transfer of shares set forth in the certificate of formation.

Free access — add to your briefcase to read the full text and ask questions with AI

A close corporation which was formed in accordance with former Sections 10-2A-90 through 10-2A-96 must have been authorized by the affirmative vote of all holders of and subscribers to shares of the corporation, and:
(1) The certificate of formation contains a heading stating the name of the corporation and that it is a close corporation; and
(2) The certificate of formation contains the provisions required by Section 10A-30-2.02; and
(3) Each certificate for shares conspicuously notes the fact that the corporation is a close corporation and make reference to the restriction on transfer of shares set forth in the certificate of formation.