Alabama § 10A-30-2.01 - Article Applicable to Close Corporations; Applicability of Chapter.
Full text of Alabama Code of Alabama § 10A-30-2.01 — Article Applicable to Close Corporations; Applicability of Chapter., with citation guidance and answers to common questions.
§ 10A-30-2.01. Article Applicable to Close Corporations; Applicability of Chapter.
(a) This article applies to all close corporations, as defined in Section 10A-30-2.02.
(b) All provisions of this article shall be applicable to all close corporations as defined in Section 10A-30-2.02 except insofar as this article otherwise provides.
(c) Neither election to become, nor operation as, a close corporation shall deprive any shareholder of such corporation of the limitation of liability provided under the Alabama Business Corporation Law.
(d) This chapter shall apply only to close corporations formed in accordance with Section 10A-30-2.03 before January 1, 1995, or electing to become a close corporation pursuant to Section 10A-30-2.04 before January 1, 1995, and which has not voluntarily terminated its status as a close corporation or otherwise ceased to be a close corporation to which the provisions of this article apply before January 1, 1995.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 10A-30-2.01
What does Code of Alabama § 10A-30-2.01 cover?
Section 10A-30-2.01 ("Article Applicable to Close Corporations; Applicability of Chapter.") is part of the Code of Alabama, the codified statutory law of Alabama. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alabama § 10A-30-2.01?
A common citation format is "Code of Alabama § 10A-30-2.01" (Alabama). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alabama law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alabama official source linked on this page or consult a licensed Alabama attorney.
How does Alabama § 10A-30-2.01 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alabama can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alabama.