Alabama Code 22-24-1. Definitions
Current as of: 2024 | Check for updates
|
Other versions
For the purpose of this chapter, the following terms shall have the meanings respectively ascribed to them by this section:
Terms Used In Alabama Code 22-24-1
- 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.
- following: means next after. See Alabama Code 1-1-1
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- person: includes a corporation as well as a natural person. See Alabama Code 1-1-1