Section 10-4-280 Incorporation. - Alabama Statutes

Section 10-4-280

Incorporation.

Whenever 10 or more wholesale merchants wish to form an association, cooperative society or corporation not for pecuniary profit in the sense of paying interest or dividends on stock, but for mutual benefit through the application of cooperation or other economic principles, they may become a body corporate in the manner provided in Chapter 3A of this title.

(Acts 1951, No. 288, p. 572, §1; Acts 1984, No. 84-290, p. 502, §93.)