Alabama Code 11-95-16. Applicability of Section 11-93-2
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Terms Used In Alabama Code 11-95-16
- 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.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
A corporation shall constitute a governmental entity as that term is used in Section damages recoverable against governmental entities; settlement or compromise of claims not to exceed maximum amounts” class=”unlinked-ref” datatype=”S” sessionyear=”2020″ statecd=”AL” title=”11″>11-93-2, as now or hereafter amended, and any damages recoverable against, and any settlement or compromise made by, a corporation shall be limited as provided in said Section 11-93-2.