(a) The articles of incorporation of any authority may be amended by filing articles of amendment with the Secretary of State, but only with the approval of both the board of the authority and the sponsoring university, in the manner provided in this section.
(b) In order to amend the articles of incorporation, the following steps shall be completed:
(1) The board of the authority shall first adopt a resolution proposing articles of amendment.
(2) After the adoption by the board of a resolution approving articles of amendment, the authority shall file with the sponsoring university a written request for adoption of a resolution approving the proposed amendment.
(3) As promptly as may be practicable after the receipt of the request from the authority, the sponsoring university shall review the application and shall adopt a resolution either approving or denying the articles of amendment as proposed by the authority.
(c) Within 30 days following the approval of the articles of amendment by the sponsoring university, the president or vice president of the authority shall sign and file for record in the office of the Secretary of State the following items:
(1) The original articles of amendment.
(2) A certified copy of each resolution approving the articles of amendment.
(d) Upon the filing for record of the documents required by subsection (c), the articles of amendment shall become effective. The Secretary of State shall thereupon record the articles of amendment in an appropriate book in his or her office.
(e) The articles of amendment of an authority may amend and restate the articles of incorporation of an authority if approved in accordance with this section.
(f) Notwithstanding the provisions of this section, the name and address of the registered agent of an authority may be changed by the authority without following the procedure set forth in this section. An authority may use any appropriate form promulgated by the Secretary of State for this purpose.
Structure Code of Alabama
Chapter 17A - University Authority Act of 2016.
Section 16-17A-1 - Short Title.
Section 16-17A-2 - Definitions.
Section 16-17A-3 - Incorporation of Authority.
Section 16-17A-4 - Articles of Incorporation - Requirements.
Section 16-17A-5 - Articles of Incorporation - Amendments.
Section 16-17A-6 - Board of Directors.
Section 16-17A-8 - Powers of Authority.
Section 16-17A-9 - Eminent Domain.
Section 16-17A-10 - Indebtedness.
Section 16-17A-11 - Pledge of Revenues; Security Documents.
Section 16-17A-12 - Obligations of Authority.
Section 16-17A-13 - Investment in Indebtedness.
Section 16-17A-14 - Default in Payments.
Section 16-17A-15 - Exemptions From Taxation.
Section 16-17A-17 - Conveyance of Property, etc., to Authority; Pledge of Full Faith and Credit.
Section 16-17A-18 - Legislative Findings.
Section 16-17A-19 - Sovereign Immunity; Damage Limitation.
Section 16-17A-20 - Applicability of Other Laws.
Section 16-17A-21 - Reincorporation.
Section 16-17A-22 - Disposition of Excess Revenues.