Section 10-12-10 (Applicable to limited liability companies organized after January 1, 1998, limited liability companies not electing to come under the pre-1997 changes, and to all limited liability c - Alabama Statutes

Section 10-12-10

(Applicable to limited liability companies organized after January 1, 1998, limited liability companies not electing to come under the pre-1997 changes, and to all limited liability companies after December 31, 2000.) Articles of organization.

(a) The articles of organization shall set forth:

(1) The name of the limited liability company.

(2) The period of its duration, if not perpetual.

(3) The purpose or purposes for which the limited liability company is organized.

(4) The location and mailing address of its initial registered office, and the name of its initial registered agent at that address.

(5) The names and mailing addresses of the initial member or members, and, if any, organizer of the limited liability company.

(6) The right, if given, of the member or members to admit additional members, and the terms and conditions of the admission.

(7) The circumstances, if any, under which the cessation of membership of one or more members will result in dissolution of the limited liability company.

(8) If the limited liability company is to be managed by one or more managers, the articles of organization shall so state and shall set out the names and the mailing addresses of the manager or managers who are to serve as managers until their successors are elected and begin serving.

(9) Any other provision, not inconsistent with law, for the regulation of the internal affairs of the limited liability company, including any provisions which under this chapter are required or permitted to be set out in the operating agreement of the limited liability company.

(b) It is not necessary to set out in the articles of organization any of the powers enumerated in this chapter.

(Acts 1993, No. 93-724, p. 1425, §10; Act 97-920, 1st Ex. Sess., p. 312, §1.)