Alabama Business and Nonprofit Entities Code revisions clarify procedures, make technical corrections, and codify common law.

Alabama SB187 amends the Alabama Business and Nonprofit Entities Code to clarify procedures, make technical corrections, and codify common law. It modifies provisions related to stockholder rights, conflicting interest transactions, and corporate opportunities. The bill also provides for expedited court review in cases of noncompliance with records requests and clarifies the duties of stockholders and directors. Additionally, it establishes a new procedure to correct or nullify filing instruments and specifies that registered agents may not perform duties virtually.

Alabama Business and Nonprofit Entities Code revisions clarify procedures, make technical corrections, and codify common law.

Alabama SB187 amends the Alabama Business and Nonprofit Entities Code to clarify procedures, make technical corrections, and codify common law. It modifies provisions related to stockholder rights, conflicting interest transactions, and corporate opportunities. The bill also provides for expedited court review in cases of noncompliance with records requests and clarifies the duties of stockholders and directors. Additionally, it establishes a new procedure to correct or nullify filing instruments and specifies that registered agents may not perform duties virtually.