Section 10-4-190 Incorporation. - Alabama Statutes

Section 10-4-190

Incorporation.

Ten or more persons desiring to associate themselves together not for pecuniary profit in the sense of paying interest or dividends on stock, but for mutual benefit through the application of cooperation, single-tax or other economic principles, may become a body corporate in the manner following:

(1) The persons proposing to form such corporation shall file with the probate judge in the county in which it proposes to establish itself a declaration in writing, setting out the name of said proposed corporation, the names of the charter members and the purposes of said corporation.

(2) Upon the filing of such declaration, the judge of probate shall issue to such corporation a charter, which shall be perpetual, subject to revocation at any time by the Legislature.

(Code 1907, §3573; Code 1923, §7046; Code 1940, T. 10, §168; Acts 1966, Ex. Sess., No. 445, p. 602, §1; Acts 1976, No. 584, p. 795.)