Section 10-8A-901 Definitions. - Alabama Statutes

Section 10-8A-901

Definitions.

REPEALED IN THE 2009 REGULAR SESSION BY ACT 2009-513, EFFECTIVE JANUARY 1, 2011. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.

In this article:

(1) "Business entity" means a corporation, limited liability company, partnership, limited partnership, registered limited liability partnership, or other entity organized to engage in business, whether created under the laws of the State of Alabama, predecessor law, or comparable law of another jurisdiction.

(2) "Corporation" means a corporation created under the Alabama Business Corporation Act, predecessor law, or comparable law of another jurisdiction.

(3) "Equity owner" means any person having an ownership interest in a business entity.

(4) "General partner" means a partner in a partnership, a general partner in a limited partnership and a general partner in a registered limited liability partnership.

(5) "Limited liability company" means a limited liability company created under the Alabama Limited Liability Company Act, predecessor law, or comparable law of another jurisdiction.

(6) "Limited partner" means a limited partner in a limited partnership.

(7) "Limited partnership" means a limited partnership created under the Alabama Limited Partnership Act of 1983, predecessor law, or comparable law of another jurisdiction.

(8) "Member" means a person reflected in the required records of a limited liability company as the owner of some governance rights of a membership interest in the limited liability company.

(9) "Partner" includes both a general partner and a limited partner.

(10) "Shareholder" means the person, in whose name the units into which proprietary interests in a corporation are divided, are registered in the records of the corporation or the beneficiary owner of such units to the extent of the rights granted by a nominee certificate on file with a corporation.

(Acts 1996, No. 96-528, p. 685, §1.)