Section 10A-4-4.02 - Merger and conversion(a) A domestic professional corporation may convert to or merge with another corporation, professional corporation, or another type of entity, domestic or foreign, if permitted under the Alabama Business Corporation Law, the Alabama Nonprofit Corporation Law, or Article 8 of Chapter 1. Upon the merger, or conversion, if the surviving or new corporation or converted entity, as the case may be, is to render professional services in this state, it shall comply with this chapter.(b) An unincorporated professional association organized under Article 1 of Chapter 30 may merge with a domestic professional corporation . In the merger, the unincorporated professional association shall follow the procedure specified in the Alabama Business Corporation Law , provided that: (1) The surviving corporation shall be a domestic professional corporation, (2) The following terms, when used in the Alabama Business Corporation Law to refer to an unincorporated professional association, shall have the following meanings: a. BOARD OF DIRECTORS means board of governors.b. CORPORATION means unincorporated association.c. STOCK or SECURITIES in the case of an unincorporated professional association which is a nonstock organization, means the undivided interests of the members in the assets of the association.d. STOCKHOLDER in the case of an unincorporated association which is a nonstock organization, means member.(3) The plan of merger or plan of conversion shall be approved by a vote of two-thirds of the members of the professional association.Ala. Code § 10A-4-4.02 (1975)
Amended by Act 2024-413,§ 1, eff. 8/1/2024.Amended by Act 2019-94,§ 2, eff. 1/1/2020.Acts 1983, No. 83-514, p. 763, §16; §10-4-395; amended and renumbered by Act 2009-513, p. 967, § 207.