Code of Alabama
Article 11 - Special Provisions for Close Corporations.
Section 10-2A-306 - Corporate Option Where a Restriction on Transfer of Shares Is Held Invalid.

All provisions of Title 10 have been repealed or transferred to Title 10A, effective January 1, 2011.

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Structure Code of Alabama

Code of Alabama

Title 10 - Corporations, Partnerships, and Associations.

Chapter 2A - Business Corporations.

Article 11 - Special Provisions for Close Corporations.

Section 10-2A-300 - Law Applicable to Close Corporations.

Section 10-2A-301 - "Close Corporation" Defined; Contents of Articles of Incorporation; Number of Shareholders.

Section 10-2A-302 - Formation of a Close Corporation.

Section 10-2A-303 - Election of Existing Corporation to Become a Close Corporation.

Section 10-2A-304 - Voluntary Termination of Close Corporation Status by Amendment of Articles of Incorporation; Vote Required.

Section 10-2A-305 - Issuance or Transfer of Shares of a Close Corporation in Breach of Qualifying Conditions.

Section 10-2A-306 - Corporate Option Where a Restriction on Transfer of Shares Is Held Invalid.

Section 10-2A-307 - Agreements Restricting Discretion of Directors.

Section 10-2A-308 - Management by Shareholders.

Section 10-2A-309 - Appointment of Custodian for Close Corporation.

Section 10-2A-310 - Appointment of a Provisional Director in Certain Cases.

Section 10-2A-311 - Shareholders' Agreements.

Section 10-2A-312 - Shareholders' Option to Dissolve Corporation.

Section 10-2A-313 - Effect of the Close Corporation Provisions on Other Laws.