Alabama § 45-41A-40.19 Dissolution of Corporation

Alabama Statutes

§ 45-41A-40.19 — Dissolution of Corporation

Alabama § 45-41A-40.19

JurisdictionAlabama

Title 45Local Laws

Ch. 41ALee County Municipalities

Art. 4Opelika

Part 1Downtown Development Authority

This text of Alabama § 45-41A-40.19 (Dissolution of Corporation) 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 § 45-41A-40.19 (2026).

Text

At any time when the authority has no bonds or other obligations outstanding, its board may adopt a resolution, which shall be duly entered upon its minutes, declaring that the authority shall be dissolved. Upon filing for record a certified copy of the resolution in the office of the Judge of Probate of Lee County, the authority shall thereupon stand dissolved and in the event it owned any property at the time of its dissolution, the title to all its properties shall thereupon pass to the city.

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At any time when the authority has no bonds or other obligations outstanding, its board may adopt a resolution, which shall be duly entered upon its minutes, declaring that the authority shall be dissolved. Upon filing for record a certified copy of the resolution in the office of the Judge of Probate of Lee County, the authority shall thereupon stand dissolved and in the event it owned any property at the time of its dissolution, the title to all its properties shall thereupon pass to the city.