Upon the termination of a declaration, or at such other time as required by law, the board of directors shall take those steps necessary for the immediate dissolution and liquidation of the association and any remaining assets.
Structure Code of Alabama
Chapter 20 - Alabama Homeowners' Association Act.
Section 35-20-1 - Short Title.
Section 35-20-2 - Definitions.
Section 35-20-3 - Applicablity of Chapter.
Section 35-20-4 - Construction and Administration of Chapter.
Section 35-20-6 - Formation of Association.
Section 35-20-7 - Election of a Board of Directors and Officers; Modification of Declaration.
Section 35-20-8 - Priority of Declaration.
Section 35-20-9 - Notice of Election.
Section 35-20-10 - Delivery of Certain Information to the Board Upon Election.
Section 35-20-11 - Powers of Board.
Section 35-20-12 - Liens for Unpaid Assessments.
Section 35-20-14 - Dissolution and Liquidation of Assets Upon Termination of Declaration.