Code of Alabama
Article 2 - Close Corporations.
Section 10A-30-2.11 - Shareholders' Agreements; Applicable to Corporations Formed as Close Corporations or Electing Close Corporation Status Prior to January 1, 1995.

No written agreement among shareholders of a close corporation, nor any provision of the governing documents of the corporation, which agreement or provision relates to any phase of the affairs of such corporation, including but not limited to the management of its business or declaration and payment of dividends or other division of profits or the election of directors or officers or the employment of shareholders by the corporation or the arbitration of disputes, shall be invalid on the ground that it is an attempt by the parties to the agreement or by the shareholders of the corporation to treat the corporation as if it were a partnership or to arrange relations among the shareholders or between the shareholders and the corporation in a manner that would be appropriate only among partners.

Structure Code of Alabama

Code of Alabama

Title 10A - Alabama Business and Nonprofit Entities Code.

Chapter 30 - Provisions Applicable to Exisiting Entities of a Type That May No Longer Be Formed:unincorporated Professional Associations and Close Corporations.

Article 2 - Close Corporations.

Section 10A-30-2.01 - Article Applicable to Close Corporations; Applicability of Chapter.

Section 10A-30-2.02 - "Close Corporation" Defined; Contents of Certificate of Formation; Number of Shareholders; Applicable to Corporations Formed as Close Corporations or Electing Close Corporation Status Prior to January 1, 1995.

Section 10A-30-2.03 - Formation of a Close Corporation; Applicable to Corporations Formed as Close Corporations Before January 1, 1995.

Section 10A-30-2.04 - Voluntary Termination of Close Corporation Status by Amendment of Certificate of Formation; Vote Required; Applicable to Corporations Formed as Close Corporations or Electing Close Corporation Status Prior to January 1, 1995.

Section 10A-30-2.05 - Issuance or Transfer of Shares of a Close Corporation in Breach of Qualifying Conditions; Applicable to Corporations Formed as Close Corporations or Electing Close Corporation Status Prior to January 1, 1995.

Section 10A-30-2.06 - Corporate Option Where a Restriction on Transfer of Shares Is Held Invalid; Applicable to Corporations Formed as Close Corporations or Electing Close Corporation Status Prior to January 1, 1995.

Section 10A-30-2.07 - Agreements Restricting Discretion of Directors; Applicable to Corporations Formed as Close Corporations or Electing Close Corporation Status Prior to January 1, 1995.

Section 10A-30-2.08 - Management by Shareholders; Applicable to Corporations Formed as Close Corporations or Electing Close Corporation Status Prior to January 1, 1995.

Section 10A-30-2.09 - Appointment of Custodian for Close Corporation; Applicable to Corporations Formed as Close Corporations or Electing Close Corporation Status Prior to January 1, 1995.

Section 10A-30-2.10 - Appointment of a Provisional Director in Certain Cases; Applicable to Corporations Formed as Close Corporations or Electing Close Corporation Status Prior to January, 1 1995.

Section 10A-30-2.11 - Shareholders' Agreements; Applicable to Corporations Formed as Close Corporations or Electing Close Corporation Status Prior to January 1, 1995.

Section 10A-30-2.12 - Shareholders' Option to Dissolve Corporation; Applicable to Corporations Formed as Close Corporations or Electing Close Corporation Status Prior to January 1, 1995.

Section 10A-30-2.13 - Effect of the Close Corporation Provisions on Other Laws; Applicable to Corporations Formed as Close Corporations or Electing Close Corporation Status Prior to January 1, 1995.