Except as otherwise provided in the governing documents or in the specific article that applies to that entity, an owner may lend money to and transact any lawful business with the entity and, subject to other applicable law, have the same rights and obligations with respect thereto as a person who is not an owner.
Structure Code of Alabama
Title 10A - Alabama Business and Nonprofit Entities Code.
Chapter 1 - General Provisions.
Article 2 - Purposes and Powers of Domestic Entity.
Division B - Powers of Domestic Entity.
Section 10A-1-2.11 - General Powers.
Section 10A-1-2.12 - Consideration for Indebtedness.
Section 10A-1-2.13 - Power to Make Guaranties.
Section 10A-1-2.14 - Stated Powers in Division Sufficient.
Section 10A-1-2.15 - Limitation on Powers.
Section 10A-1-2.16 - Certificated Indebtedness; Manner of Issuance; Signature and Seal.
Section 10A-1-2.17 - Business Transactions of Owner With Entity.