Alabama Code 40-23-171. Definitions
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As used in this division, the following terms shall have the following meanings:
Terms Used In Alabama Code 40-23-171
- 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.
- Fiduciary: A trustee, executor, or administrator.
- 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.
- state: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Alabama Code 1-1-1
- United States: includes the territories thereof and the District of Columbia. See Alabama Code 1-1-1