§ 2-10-92 — How Association May Be Formed; Amendments to Articles of Incorporation

Alabama § 2-10-92

• Jurisdiction: Alabama
• Title 2: Agriculture
• Ch. 10: Cooperatives and Associations
• Art. 4: Mutual Farming or Trucking Associations

Text

Five or more producers of agricultural products, whether in the State of Alabama or not, who may desire that they, their associates and successors shall come under this article and enjoy its benefits may enter into articles of association and incorporation which shall set forth the name of the organization, the period of its existence, its domicile and the purposes for which it was formed and that said association is to be organized or operated under this article. The articles must be subscribed by the incorporators and acknowledged by one of them before an officer authorized by the law of this state to take and certify acknowledgments of deeds and conveyances and shall be filed in accordance with the provisions of the general corporation law of this state. When so filed the said articles of incorporation or certified copies thereof shall be received in all the courts of the state and other places as prima facie evidence of the facts contained therein and the due incorporation of such association. Such articles of incorporation may thereafter be altered or amended at any regular meeting of the members or stockholders or at any special meeting called for that purpose, if a quorum, as defined in the bylaws, is present. The amendment must first be approved by two thirds of the directors and then adopted by vote of two thirds of the members present and voting at the meeting. Amendments when so adopted shall be filed in accordance with the general corporation laws of the state.

Legislative History

(Acts 1935, No. 220, p. 604; Code 1940, T. 2, §116; Acts 1959, No. 592, p. 1480.)