Section 10-4-151 Dissolution. - Alabama Statutes

Section 10-4-151

Dissolution.

The corporation may, upon the affirmative vote of two thirds of the votes to which the stockholders shall be entitled and two thirds of the votes to which the members shall be entitled, dissolve said corporation. Upon any dissolution of the corporation, none of the corporation's assets shall be distributed to the stockholders until all sums due the members of the corporation as creditors thereof have been paid in full.

(Acts 1969, No. 322, p. 681, §15.)