Contract Rights of Officers.

  1. Law
  2. Code of Alabama
  3. Alabama Business and Nonprofit Entities Code.
  4. Business Corporations.
  5. Directors and Officers.
  6. Officers.
  7. Contract Rights of Officers.

Checkout our iOS App for a better way to browser and research.

Section 10A-2-8.44

Contract rights of officers.

REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.

(a) The appointment of an officer does not itself create contract rights.

(b) An officer's removal does not affect the officer's contract rights, if any, with the corporation. An officer's resignation does not affect the officer's contract rights, if any, with the corporation.

(Acts 1994, No. 94-245, p. 343, §1; §10-2B-8.44; amended and renumbered by Act 2009-513, p. 967, §122.)


Download our app to see the most-to-date content.