The bill HB230 Enrolled proposes significant changes to the corporate filing requirements in the Code of Alabama 1975. It eliminates the requirement for corporations to file an annual report with the Secretary of State, as indicated by the deletion of language mandating annual reports by foreign entities and the repeal of Section 10A-2A-16.11 related to this obligation. The bill also updates various definitions pertinent to corporate operations, such as "certificate of incorporation" and "foreign corporation," and clarifies procedures for delivering notices and determining knowledge of corporate facts, aiming to simplify corporate regulations and reduce administrative burdens.

Additionally, the bill revises the definition of "PRINCIPAL OFFICE" and other terms, and sets out the methods and conditions for delivering notices, including electronic transmissions. It removes the requirement for notices to be delivered to the corporation's principal office as shown in its most recent annual report. The bill also addresses the maintenance of corporate records, inserting a requirement to keep minutes of meetings and actions taken without a meeting, while deleting the requirement to maintain the most recent annual report. The act is scheduled to become effective on October 1, 2024, following its passage by the Senate on April 25, 2024.

Statutes affected:
Introduced: 10A-1-7, 10A-2A-1, 10A-2A-1, 10A-2A-16, 10A-2A-16, 10A-1-7, 10A-2A-1, 10A-2A-1, 10A-2A-16
Engrossed: 10A-1-7, 10A-2A-1, 10A-2A-1, 10A-2A-16, 10A-2A-16, 10A-1-7, 10A-2A-1, 10A-2A-1, 10A-2A-16
Enrolled: 10A-1-7, 10A-2A-1, 10A-2A-1, 10A-2A-16, 10A-2A-16, 10A-1-7, 10A-2A-1, 10A-2A-1, 10A-2A-16