(a) A real estate investment trust may terminate its existence by voluntary dissolution and wind up its business and affairs in the manner and on the grounds provided in the Alabama Business Corporation Law.
(b) A real estate investment trust may curtail or cease its trust activities by partially or completely distributing its assets.
(c)(1) The Attorney General may institute proceedings to dissolve a real estate investment trust which has abused, misused, or failed to use its powers. The proceedings shall be brought in the manner and on the grounds provided in the Alabama Business Corporation Law, with respect to judicial dissolution of a corporation.
(2) The venue of an action under this subsection is in a county where an officer or resident agent of the real estate investment trust is located.
Structure Code of Alabama
Title 10A - Alabama Business and Nonprofit Entities Code.
Chapter 10 - Real Estate Investment Trusts.
Section 10A-10-1.01 - Short Title.
Section 10A-10-1.02 - Definitions.
Section 10A-10-1.03 - Permitted Form of Unincorporated Trust or Association.
Section 10A-10-1.04 - Construction With Other Law.
Section 10A-10-1.05 - Compliance Required.
Section 10A-10-1.06 - Declaration of Trust.
Section 10A-10-1.07 - Classification of Shares.
Section 10A-10-1.08 - Removal of Trustees.
Section 10A-10-1.10 - Provisions on Investments and Use.
Section 10A-10-1.11 - Annual Report.
Section 10A-10-1.12 - Inspection of Records.
Section 10A-10-1.13 - Filing Fees.
Section 10A-10-1.14 - Amendment of Declaration.
Section 10A-10-1.16 - Dissolution.
Section 10A-10-1.17 - Liability of Trust.
Section 10A-10-1.18 - Nonliability of Shareholders for Obligations of Trust.
Section 10A-10-1.19 - Liability of Trustee.
Section 10A-10-1.20 - Service of Process.
Section 10A-10-1.21 - Income Tax.
Section 10A-10-1.23 - Treatment of Corporate Real Estate Investment Trust.