Ala. Code § 10A-3A-13.04

Action on a Plan of Conversion in a Nonmembership Nonprofit Corporation.

Known as the Alabama Business and Nonprofit Entity Code

The act spans §§ 10A-1-1.01 to 10A-9A-9.09 (1,341 sections).

(Act 2023-503, §1.)

In the case of a conversion of a nonmembership nonprofit corporation the plan of conversion shall be adopted in the following manner:

(a) The plan of conversion shall be adopted by the board of directors; and

(b) A plan of conversion adopted by the board of directors under this section must also be approved in writing by a person or group of persons, if any, whose approval is required under Section 10A-3A-13.08.

Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.