The bill aims to amend the Alabama Business and Nonprofit Entities Code by removing mentions of the Alabama Nonprofit Corporation Law. It seeks to clarify and simplify certain provisions in alignment with updates in Delaware law and the Model Business Corporation Act. The proposed changes intend to modernize and enhance the efficiency of business regulations in Alabama by aligning them with contemporary standards from other jurisdictions.
2024-02-27: Read for the first time and referred to the House Committee on Judiciary
2024-02-27: Pending House Judiciary
2024-03-20: Reported Out of Committee House of Origin
2024-03-21: Read for the Second Time and placed on the Calendar
2024-05-07: Currently Indefinitely Postponed
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