Section 10-3A-225 Effect of repeal of prior acts. - Alabama Statutes

Section 10-3A-225

Effect of repeal of prior acts.

The repeal of a prior act by this chapter shall not impair, or otherwise affect, the organization or the continued existence of an existing corporation, nor the right of any foreign corporation presently qualified to conduct affairs in Alabama to continue to do so without again qualifying to conduct affairs in Alabama. Nor shall the repeal of a prior act by this chapter affect any right accrued or established, or any liability or penalty incurred, or the construction of the certificate of incorporation or charter of any corporation organized before the enactment of this chapter, or the determination of the rights and interests of any of its members or creditors, under the provisions of such prior act before the repeal thereof.

(Acts 1984, No. 84-290, p. 502, §91.)