(a) A purchaser from a corporation of the corporation's own stock is not liable to the corporation or its creditors with respect to the stock except to pay the consideration for which the stock was authorized to be issued or specified in the subscription agreement.
(b) A stockholder is not personally liable for any liabilities of the corporation (including liabilities arising from acts of the corporation) except to the extent provided in a provision of the certificate of incorporation permitted by Section 10A-2A-2.02.
Structure Code of Alabama
Title 10A - Alabama Business and Nonprofit Entities Code.
Chapter 2A - Alabama Business Corporation Law.
Article 6 - Stock and Distributions.
Division B - Issuance of Stock.
Section 10A-2A-6.20 - Subscription for Stock Before Incorporation.
Section 10A-2A-6.21 - Issuance of Stock.
Section 10A-2A-6.22 - Liability of Stockholders.
Section 10A-2A-6.23 - Stock Dividends.
Section 10A-2A-6.24 - Stock Rights, Options, Warrants, and Awards.
Section 10A-2A-6.25 - Form and Content of Certifications.
Section 10A-2A-6.26 - Uncertificated Interests.