Alabama § 11-59-14 - Authority and Procedure for Dissolution of Corporations; Vesting of Title to Facilities Thereof in Municipalities Upon Dissolution.
Full text of Alabama Code of Alabama § 11-59-14 — Authority and Procedure for Dissolution of Corporations; Vesting of Title to Facilities Thereof in Municipalities Upon Dissolution., with citation guidance and answers to common questions.
§ 11-59-14. Authority and Procedure for Dissolution of Corporations; Vesting of Title to Facilities Thereof in Municipalities Upon Dissolution.
When the principal of and interest on all bonds issued by the corporation shall have been paid, the title to all facilities then owned by the corporation shall thereupon vest in the municipality with respect to which the corporation shall have been organized, and all rights and powers of the corporation with respect to said facilities shall thereupon terminate and the corporation shall thereupon stand dissolved.
The then members of the board of directors of the corporation shall thereupon execute and file for record in the office of the judge of probate of the county in which the certificate of incorporation of the corporation was filed an appropriate certificate reciting the payment of the principal of and interest on the bonds of the corporation, which certificate shall also describe the facilities owned by the corporation at the time of its dissolution, but the failure of the members of said board of directors to make such certificate or to file the same for record as aforesaid shall not affect the automatic dissolution of the corporation and the vesting of title to its facilities in the municipality as provided in this section.
At any time prior to the issuance of bonds or other obligations as evidence of debt, the board of directors of the corporation may, with the approval of the governing body of the municipality, file for record in the office of the judge of probate of the county in which the certificate of incorporation of the corporation was filed a certificate of dissolution, and the corporation shall thereupon stand dissolved.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 11-59-14
What does Code of Alabama § 11-59-14 cover?
Section 11-59-14 ("Authority and Procedure for Dissolution of Corporations; Vesting of Title to Facilities Thereof in Municipalities Upon Dissolution.") 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 § 11-59-14?
A common citation format is "Code of Alabama § 11-59-14" (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 § 11-59-14 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.