Alabama § 11-58-13 - Authority and Procedure for Dissolution of Corporations; Vesting of Title to Funds and Properties Thereof in Municipalities or Counties Upon Dissolution; Effect of Dissolution of Corporation Upon Other Such Corporations.
Full text of Alabama Code of Alabama § 11-58-13 — Authority and Procedure for Dissolution of Corporations; Vesting of Title to Funds and Properties Thereof in Municipalities or Counties Upon Dissolution; Effect of Dissolution of Corporation Upon Other Such Corporations., with citation guidance and answers to common questions.
§ 11-58-13. Authority and Procedure for Dissolution of Corporations; Vesting of Title to Funds and Properties Thereof in Municipalities or Counties Upon Dissolution; Effect of Dissolution of Corporation Upon Other Such Corporations.
(a) Whenever the principal of and interest on all bonds of a corporation payable from the revenues derived from the operation of one or more medical clinics owned by the corporation have been paid in full, its board of directors of the corporation may, by resolution, determine that the purposes for which the corporation was formed have been substantially complied with, and shall thereupon execute and file for record in the office of the judge of probate of the county in which the corporation is organized a certificate of dissolution, reciting those facts and declaring the corporation to be dissolved. The certificate of dissolution shall be executed under the corporate seal of the corporation.
(b) Upon the filing of the certificate of dissolution, the corporation shall stand dissolved, title to all funds and properties owned by it at the time of dissolution shall vest in the county or municipality, and possession of the funds and properties shall be immediately delivered to the county or municipality.
(c) The dissolution of one or more corporations under this chapter shall not cause the dissolution of other existing corporations, nor preclude the subsequent formation under this chapter of other corporations.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 11-58-13
What does Code of Alabama § 11-58-13 cover?
Section 11-58-13 ("Authority and Procedure for Dissolution of Corporations; Vesting of Title to Funds and Properties Thereof in Municipalities or Counties Upon Dissolution; Effect of Dissolution of Corporation Upon Other Such Corporations.") 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 § 11-58-13?
A common citation format is "Code of Alabama § 11-58-13" (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 § 11-58-13 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.