reglab/housing_qa huggingface dataset:
AL Code § 10A-20-7.12 (2021)
2021 Code of Alabama|Title 10A - Alabama Business and Nonprofit Entities Code.|Chapter 20 - Special Purpose Entities.|Article 7 - Industrial Development Corporation.|Section 10A-20-7.12 - Credit of State Not to Be Pledged.

Section 10A-20-7.12Credit of state not to be pledged. Under no circumstances shall the credit of the state be pledged to any corporation organized under this article. (Acts 1969, No. 322, p. 681, §16; §10-4-141; amended and renumbered by Act 2009-513, p. 967, §336.)
AL Code § 10A-20-7.13 (2021)
2021 Code of Alabama|Title 10A - Alabama Business and Nonprofit Entities Code.|Chapter 20 - Special Purpose Entities.|Article 7 - Industrial Development Corporation.|Section 10A-20-7.13 - Taking of Security by Mortgage or Otherwise.

Section 10A-20-7.13Taking of security by mortgage or otherwise. Notwithstanding the provisions of any other law of this state, now or hereinafter enacted, any corporation organized under this article shall be authorized to take and receive security by a mortgage, or otherwise, on property, real and personal. (Acts 1969, No. 322, p. 681, §20; §10-4-142; amended and renumbered by Act 2009-513, p. 967, §336.)
AL Code § 10A-20-7.14 (2021)
2021 Code of Alabama|Title 10A - Alabama Business and Nonprofit Entities Code.|Chapter 20 - Special Purpose Entities.|Article 7 - Industrial Development Corporation.|Section 10A-20-7.14 - Tax Exemptions, Credits, and Privileges.

Section 10A-20-7.14Tax exemptions, credits, and privileges. Any tax exemptions, tax credits, or tax privileges granted to banks, savings and loan associations, trust companies, and other financial institutions by any general laws are granted to corporations organized pursuant to this article. (Acts 1969, No. 322, p. 681, §18; §10-4-143; amended and renumbered by Act 2009-513, p. 967, §336.)
AL Code § 10A-20-7.15 (2021)
2021 Code of Alabama|Title 10A - Alabama Business and Nonprofit Entities Code.|Chapter 20 - Special Purpose Entities.|Article 7 - Industrial Development Corporation.|Section 10A-20-7.15 - Occupational License Taxes.

Section 10A-20-7.15Occupational license taxes. Every corporation organized and engaged in business under this article shall pay an annual state occupational license tax of fifty dollars ($50). Counties and municipalities are authorized in addition to levy an occupational license tax. (Acts 1969, No. 322, p. 681, §19; §10-4-144; amended and renumbered by Act 2009-513, p. 967, §336.)
AL Code § 10A-20-7.16 (2021)
2021 Code of Alabama|Title 10A - Alabama Business and Nonprofit Entities Code.|Chapter 20 - Special Purpose Entities.|Article 7 - Industrial Development Corporation.|Section 10A-20-7.16 - Setting Apart of Earned Surplus.

Section 10A-20-7.16Setting apart of earned surplus. Each year, the corporation shall set apart as earned surplus not less than 10 percent of its net earnings for the preceding fiscal year until the surplus shall be equal in value to one half of the amount paid in on the capital stock then outstanding. Whenever the amount of surplus established herein shall become impaired, it shall be built up again to the required amount in the manner provided for its original accumulation. Net earnings and surplus shall be determined by the board of directors, after providing for such reserves as the directors deem desirable, and the determination of the directors made in good faith shall be conclusive on all persons. (Acts 1969, No. 322, p. 681, §10; §10-4-145; amended and renumbered by Act 2009-513, p. 967, §336.)
AL Code § 10A-20-7.17 (2021)
2021 Code of Alabama|Title 10A - Alabama Business and Nonprofit Entities Code.|Chapter 20 - Special Purpose Entities.|Article 7 - Industrial Development Corporation.|Section 10A-20-7.17 - Deposit of Funds in Designated Depository.

Section 10A-20-7.17Deposit of funds in designated depository. The corporation shall not deposit any of its funds in any banking institution unless the institution has been designated as a depository by a vote of a majority of the directors present at an authorized meeting of the board of directors, exclusive of any director who is an officer or director of the depository so designated. The corporation shall not receive money on deposit. (Acts 1969, No. 322, p. 681, §11; §10-4-146; amended and renumbered by Act 2009-513, p. 967, §336.)
AL Code § 10A-20-7.18 (2021)
2021 Code of Alabama|Title 10A - Alabama Business and Nonprofit Entities Code.|Chapter 20 - Special Purpose Entities.|Article 7 - Industrial Development Corporation.|Section 10A-20-7.18 - Annual Examination and Reports.

Section 10A-20-7.18Annual examination and reports. The corporation shall be examined at least once annually by a certified public accountant and shall file reports of its condition annually with the Secretary of State, who in turn shall make copies of the reports available to the Governor. The corporation shall pay the actual cost of the examinations. The Alabama Banking Code applies where the code is not in conflict with this article. (Acts 1969, No. 322, p. 681, §12; §10-4-147; amended and renumbered by Act 2009-513, p. 967, §336.)
AL Code § 10A-20-7.19 (2021)
2021 Code of Alabama|Title 10A - Alabama Business and Nonprofit Entities Code.|Chapter 20 - Special Purpose Entities.|Article 7 - Industrial Development Corporation.|Section 10A-20-7.19 - Fiscal Year.

Section 10A-20-7.19Fiscal year. Corporations organized under this article shall adopt the calendar year as their fiscal year. (Acts 1969, No. 322, p. 681, §22; §10-4-148; amended and renumbered by Act 2009-513, p. 967, §336.)
AL Code § 10A-20-7.20 (2021)
2021 Code of Alabama|Title 10A - Alabama Business and Nonprofit Entities Code.|Chapter 20 - Special Purpose Entities.|Article 7 - Industrial Development Corporation.|Section 10A-20-7.20 - Amendment of Certificate of Formation.

Section 10A-20-7.20Amendment of certificate of formation. (a) The certificate of formation may be amended by the votes of the stockholders and the members of the corporation, voting separately by classes, and the amendments shall require approval by the affirmative vote of two thirds of the votes to which the stockholders shall be entitled and two thirds of the votes to which the members shall be entitled; provided, that no amendment of the certificate of formation which is inconsistent with the general purposes expressed in this article, which authorizes any additional class of capital stock to be issued or which eliminates or curtails the right of the state Comptroller to examine the corporation or the obligation of the corporation to make reports as provided in Section 10A-20-7.18 shall be made; and provided further, that no amendment of the certificate of formation which increases the obligation of a member to make loans to the corporation, makes any change in the principal amount, interest rate, maturity date, in the security or credit position of any outstanding loan of a member to the corporation, affects a member's right to withdraw from membership as provided in this article, or affects a member's voting rights as provided in this article shall be made without the consent of each member affected by the amendment. (b) Within 30 days after any meeting at which an amendment of the certificate of formation has been adopted, a certificate of amendment signed and sworn to by the president, treasurer, and a majority of the directors, setting forth the amendment and due adoption thereof, together with the filing fee prescribed by Section 10A-1-4.31 payable to the Secretary of State in connection with filing an amendment to a certificate of formation, shall be submitted to the Secretary of State who shall examine them and, if he or she finds that they conform to the requirements of this article, shall so certify and endorse his or her approval thereon. Thereupon, the certificate of amendment shall be filed in the office of the Secretary of State, and no such amendment shall take effect until the certificate of amendment has been filed. (Acts 1969, No. 322, p. 681, §8; §10-4-149; amended and renumbered by Act 2009-513, p. 967, §336.)
AL Code § 10A-20-7.21 (2021)
2021 Code of Alabama|Title 10A - Alabama Business and Nonprofit Entities Code.|Chapter 20 - Special Purpose Entities.|Article 7 - Industrial Development Corporation.|Section 10A-20-7.21 - Duration of Corporation.

Section 10A-20-7.21Duration of corporation. The period of duration of the corporation shall be 50 years, subject, however, to the right of the stockholders and the members to dissolve the corporation prior to the expiration of the period as provided in Section 10A-20-7.22. (Acts 1969, No. 322, p. 681, §14; §10-4-150; amended and renumbered by Act 2009-513, p. 967, §336.)
AL Code § 10A-20-7.22 (2021)
2021 Code of Alabama|Title 10A - Alabama Business and Nonprofit Entities Code.|Chapter 20 - Special Purpose Entities.|Article 7 - Industrial Development Corporation.|Section 10A-20-7.22 - Dissolution.

Section 10A-20-7.22Dissolution. A corporation may, upon the affirmative vote of two thirds of the votes to which the stockholders shall be entitled and two thirds of the votes to which the members shall be entitled, dissolve the corporation. Upon dissolution of the corporation, none of the corporation's assets shall be distributed to the stockholders until all sums due the members of the corporation as creditors thereof have been paid in full. (Acts 1969, No. 322, p. 681, §15; §10-4-151; amended and renumbered by Act 2009-513, p. 967, §336.)
AL Code § 10A-20-7.23 (2021)
2021 Code of Alabama|Title 10A - Alabama Business and Nonprofit Entities Code.|Chapter 20 - Special Purpose Entities.|Article 7 - Industrial Development Corporation.|Section 10A-20-7.23 - Applicability of Laws Regulating Securities.

Section 10A-20-7.23Applicability of laws regulating securities. The provisions of Title 8 and any other laws of this state regulating the issue, registration, and sale of securities shall not apply to any security issued by a corporation organized under this article. (Acts 1969, No. 322, p. 681, §21; §10-4-152; amended and renumbered by Act 2009-513, p. 967, §336.)
AL Code § 10A-20-8.02 (2021)
2021 Code of Alabama|Title 10A - Alabama Business and Nonprofit Entities Code.|Chapter 20 - Special Purpose Entities.|Article 8 - Local Fraternal Orders.|Section 10A-20-8.02 - Right of Majority Group of Local Organization in Fraternal Property.

Section 10A-20-8.02Right of majority group of local organization in fraternal property. The right and equity are hereby recognized and declared on behalf of the majority group of any local organization owning title to or an interest in fraternal property to preserve and protect the same from impairment or loss, to prevent fraternal property held subject to the trust clause from being converted to or used for an unintended or different use or purpose due to a change of social policies of the parent organization, and to be relieved of a material miscarriage of intent or understanding, failure of or departure from the intent or understanding of the local organization, or the majority group thereof, with respect to its use of the fraternal property or the conduct of its traditional social practices due to a change of social policies of the parent organization or of any one or more of its affiliated organizations. (Acts 1961, Ex. Sess., No. 176, p. 2137, §2; §10-4-171; amended and renumbered by Act 2009-513, p. 967, §338.)
AL Code § 10A-20-8.03 (2021)
2021 Code of Alabama|Title 10A - Alabama Business and Nonprofit Entities Code.|Chapter 20 - Special Purpose Entities.|Article 8 - Local Fraternal Orders.|Section 10A-20-8.03 - Withdrawal From Parent Organization and Use of Fraternal Property Free From Trust Clause.

Section 10A-20-8.03Withdrawal from parent organization and use of fraternal property free from trust clause. (a) The majority group of any local organization may withdraw from the parent organization and, upon withdrawal, shall be permitted to devote the fraternal property to the uses originally intended free of the influence of the trust clause; provided, that the facts upon which the right of withdrawal is conditioned under this section shall be judicially determined to exist in and by a judicial proceeding as provided for in this article. (b) While this article is not intended to control any rules, fraternal, educational, social, or other formula or practice of the parent organization, one of its purposes is to afford an effective remedy and procedure for the preservation and protection of trust, charitable, educational, or fraternal property from impairment or loss thereof when the intended trust use thereof is threatened as a proximate result of subsequent action by the parent organization inconsistent with the basic intent or assumption inherent in, or expressed and fixed before, during, or in, the acquisition or dedication thereof. (Acts 1961, Ex. Sess., No. 176, p. 2137, §3; §10-4-172; amended and renumbered by Act 2009-513, p. 967, §338.)
AL Code § 10A-20-8.04 (2021)
2021 Code of Alabama|Title 10A - Alabama Business and Nonprofit Entities Code.|Chapter 20 - Special Purpose Entities.|Article 8 - Local Fraternal Orders.|Section 10A-20-8.04 - Right to Set Up Unit Independent of Parent Corporation.

Section 10A-20-8.04Right to set up unit independent of parent corporation. Whenever, as a result of action of the parent organization, any of its authoritative subdivisions, or its law-making body the majority group of any local organization shall determine that there has been a change of social policies, within the meaning of this section, or that any act, declaration, law, policy, social creed, or jurisdictional system of the parent organization is contrary to the basic intent, understanding, or basic assumption existing between the contributors, donors, or grantors of the fraternal property and the local organization or between the contributors, grantors, or donors and any trustee of property held for the benefit of the local organization or held by, or for, the use of the local organization subject to the trust clause and whenever a majority group shall find and determine that the act, declaration, or policy of the parent organization is not only contrary to the basic intent, understanding, or assumption, but that acquiescence therein would be contrary to the welfare of the local organization or the peace, order, friendliness, or goodwill within the membership of the local organization, be inconsistent with the effective and harmonious continuation of fraternal work, or involve the organization in public controversy, thereupon the majority group shall have the right, without sacrifice or loss of any title, interest, or matured equity or rights in property, funds, or benefits, to set up a local organization or unit independent of the authority of the parent organization, and the local organization or unit so set up shall be in corporate form as may be provided for under the laws of Alabama for the formation of fraternal or nonprofit charity corporations. (Acts 1961, Ex. Sess., No. 176, p. 2137, §4; §10-4-173; amended and renumbered by Act 2009-513, p. 967, §338.)
AL Code § 10A-20-8.05 (2021)
2021 Code of Alabama|Title 10A - Alabama Business and Nonprofit Entities Code.|Chapter 20 - Special Purpose Entities.|Article 8 - Local Fraternal Orders.|Section 10A-20-8.05 - Declaratory Actions - Institution of Action.

Section 10A-20-8.05Declaratory actions - Institution of action. Upon resolution or written declaration by the majority group, upon giving 30 days' notice to the parent organization, and upon giving like notice to the organization membership or the official governing body of the local organization, a corporation formed by the majority group shall be authorized to institute a civil action on behalf of itself and the majority group at the cost of the plaintiff if none of the defendants contest the action, otherwise, the costs to be taxed within the discretion of the circuit court of the county in which the local organization is located, for a judicial finding and declaratory action as provided in this section. Such proceeding or action shall state the facts as to the basis for relief from miscarriage of basic intent and understanding, as provided in this article, and any other factors or equities entitling the plaintiff to the relief sought. (Acts 1961, Ex. Sess., No. 176, p. 2137, §5; §10-4-174; amended and renumbered by Act 2009-513, p. 967, §338.)
AL Code § 10A-20-8.06 (2021)
2021 Code of Alabama|Title 10A - Alabama Business and Nonprofit Entities Code.|Chapter 20 - Special Purpose Entities.|Article 8 - Local Fraternal Orders.|Section 10A-20-8.06 - Declaratory Actions - Service of Process.

Section 10A-20-8.06Declaratory actions - Service of process. Service of process in an action or proceeding may be had on the local organization by service on its administrative authority, one or more senior or representative members or other similar authority of the organization by service on the parent organization by serving any representative official, members, or employees thereof, by service on the trustee, person, or corporation in which the record title to the fraternal property sought to be affected by the proceeding is held or vested, and by service on any other defendant having a justifiable interest in the relief sought. Service by publication or otherwise may be had on any nonresident in the manner provided in the Alabama Rules of Civil Procedure pertaining to class actions and other methods of service of process. (Acts 1961, Ex. Sess., No. 176, p. 2137, §6; §10-4-175; amended and renumbered by Act 2009-513, p. 967, §338.)
AL Code § 10A-20-8.07 (2021)
2021 Code of Alabama|Title 10A - Alabama Business and Nonprofit Entities Code.|Chapter 20 - Special Purpose Entities.|Article 8 - Local Fraternal Orders.|Section 10A-20-8.07 - Declaratory Actions - Averments of Plaintiff.

Section 10A-20-8.07Declaratory actions - Averments of plaintiff. The plaintiff in an action may aver as a separate aspect or equity that the parent organization has made or sanctioned material changes in the laws, rules, social creed, or jurisdictional system with respect to social standards, practices, or policies which changes are opposed to the views, beliefs, or way of life of the majority group and which changes are substantially and materially different from the status of the laws, rules, social creed, or jurisdictional system of the parent organization with respect to its social standards, practices, or policies existing at the time the local organization became affiliated or merged with the parent organization, and may further aver that changes, insofar as they negate or depart from the basic intent and understanding of the majority group, are constructively fraudulent, collusive, or arbitrary, as those terms are defined or referred to in the law. Upon proof of the averments, the plaintiff shall be entitled to the relief provided by this article. (Acts 1961, Ex. Sess., No. 176, p. 2137, §8; §10-4-176; amended and renumbered by Act 2009-513, p. 967, §338.)
AL Code § 10A-20-8.08 (2021)
2021 Code of Alabama|Title 10A - Alabama Business and Nonprofit Entities Code.|Chapter 20 - Special Purpose Entities.|Article 8 - Local Fraternal Orders.|Section 10A-20-8.08 - Declaratory Actions - Judgment.

Section 10A-20-8.08Declaratory actions - Judgment. If on final hearing the court shall find that the organization of the plaintiff corporation, subject to such further or amended conditions or provisions as the court may require or approve, is equitable and appropriate for administration as a fraternal or charitable trust and that the withdrawal of the fraternal property from subjection to the action complained of is equitable and appropriate under the cy-pres doctrine or otherwise, the court shall enter judgment accordingly, declaring the status, rights, and equities involved and, on final compliance, shall order its approval for the record, as well as grant any other relief appropriate in the premises. (Acts 1961, Ex. Sess., No. 176, p. 2137, §7; §10-4-177; amended and renumbered by Act 2009-513, p. 967, §338.)
AL Code § 10A-20-8.09 (2021)
2021 Code of Alabama|Title 10A - Alabama Business and Nonprofit Entities Code.|Chapter 20 - Special Purpose Entities.|Article 8 - Local Fraternal Orders.|Section 10A-20-8.09 - Averments as to Loans From Parent Organization; Judgment to Provide for Repayment and Lien for Unsecured Loans.

Section 10A-20-8.09Averments as to loans from parent organization; judgment to provide for repayment and lien for unsecured loans. The complaint in any action authorized by this article shall state whether or not the local organization obtained from the parent organization or any of its affiliated organizations a loan or grant of funds with which to defray, in whole or in part, the cost of constructing or acquiring any of the buildings or real estate included in the fraternal property sought to be withdrawn, and if the loan or grant was obtained within 20 years prior to filing the complaint, then it shall aver the amount thereof and the date the loan or grant was obtained and whether, if it be a loan, it is secured by a lien instrument. If the court grants the right to withdraw as requested in the complaint and further grants a confirmation of title to property in the local organization, free of the trust clause, it shall determine the amount of the unsecured loan or grant and that the same was made within 20 years of filing the complaint, if that be true, and shall order that the loan, if unsecured, or grant shall be repaid without interest to the date of the judgment, within a reasonable time to be fixed by the court, as a condition to granting the relief sought and shall fix a lien on the fraternal property of the local organization to secure the repayment of the unsecured loan or grant. (Acts 1961, Ex. Sess., No. 176, p. 2137, §9; §10-4-178; amended and renumbered by Act 2009-513, p. 967, §338.)
AL Code § 10A-20-8.10 (2021)
2021 Code of Alabama|Title 10A - Alabama Business and Nonprofit Entities Code.|Chapter 20 - Special Purpose Entities.|Article 8 - Local Fraternal Orders.|Section 10A-20-8.10 - Effect of Article on Existing Liens or Mortgages.

Section 10A-20-8.10Effect of article on existing liens or mortgages. Nothing in this article shall be construed to affect the validity of any existing lien or mortgage on the fraternal property or part thereof. (Acts 1961, Ex. Sess., No. 176, p. 2137, §10; §10-4-179; amended and renumbered by Act 2009-513, p. 967, §338.)
AL Code § 10A-20-9.01 (2021)
2021 Code of Alabama|Title 10A - Alabama Business and Nonprofit Entities Code.|Chapter 20 - Special Purpose Entities.|Article 9 - Single-Tax and Other Mutual Economic Associations.|Section 10A-20-9.01 - Incorporation.

Section 10A-20-9.01Incorporation. Ten or more persons desiring to associate themselves together for nonprofit purposes in the sense of not paying interest or dividends on stock, but for mutual benefit through the application of cooperation, single-tax, or other economic principles, may become a body corporate in the manner following: (1) The persons proposing to form the corporation shall deliver to the Secretary of State for filing a declaration in writing, setting out the name of the proposed corporation, the names of the charter members, and the purposes of the corporation, which declaration shall constitute its corporate charter, together with a filing fee in the amount prescribed by Chapter 1 for filing a certificate of formation. (2) Upon the filing of such declaration, the corporation's existence begins, which shall be perpetual, subject to revocation at any time by the Legislature. (Code 1907, §3573; Code 1923, §7046; Code 1940, T. 10, §168; Acts 1966, Ex. Sess., No. 445, p. 602, §1; Acts 1976, No. 584, p. 795; §10-4-190; amended and renumbered by Act 2009-513, p. 967, §340; Act 2020-73, §10.)