Alabama § 16-56-2 - Rights, Privileges, Responsibilities, Etc., of Corporation.
Full text of Alabama Code of Alabama § 16-56-2 — Rights, Privileges, Responsibilities, Etc., of Corporation., with citation guidance and answers to common questions.
§ 16-56-2. Rights, Privileges, Responsibilities, Etc., of Corporation.
The corporation shall have all the rights, privileges, powers, and franchises necessary to the promotion of or the end of its creation and shall be charged with all corresponding duties, liabilities, and responsibilities. The headquarters of Troy University shall be in the City of Troy. The corporation may purchase, hold, lease, sell, convey, or in any other manner not inconsistent with the object or terms of the grant or grants under which it holds dispose of any property, or any interest in any property, real or personal, or any estate or interest therein, from any source, at any time and upon any terms, as it may deem in the best interest of the university. The corporation may also borrow money and incur other obligations at any time and under any terms it may deem in the best interest of the university.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 16-56-2
What does Code of Alabama § 16-56-2 cover?
Section 16-56-2 ("Rights, Privileges, Responsibilities, Etc., of Corporation.") 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 § 16-56-2?
A common citation format is "Code of Alabama § 16-56-2" (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 § 16-56-2 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.