Except as otherwise provided in the certificate of incorporation:

(1) the dissolution of a nonmembership nonprofit corporation may be approved by the board of directors; and
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Terms Used In Alabama Code 10A-3A-11.03

  • certificate of incorporation: as used in this chapter is synonymous to the term certificate of formation used in Chapter 1. See Alabama Code 10A-3A-1.02
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(2) the dissolution of the nonmembership nonprofit corporation approved by the board of directors under this section must also be approved by those persons whose approval is required by the certificate of incorporation in accordance with Section 10A-3A-11.04.
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