Code of Alabama - Title 10A: Alabama Business and Nonprofit Entities Code - Section 10A-1-9.02 - Definitions

Section 10A-1-9.02 - Definitions.

In this article, the following terms have the following meanings:

(1) CLAIM. A right to payment, damages, or property, whether liquidated or unliquidated, accrued or contingent, matured or unmatured.

(2) WINDING UP. The process of winding up the business and affairs of a domestic entity as a result of the occurrence of an event requiring winding up.

(Act 2009-513, p. 967, §73; §10A-1-9.01 renumbered by Act 2018-125, §4.)

Last modified: May 3, 2021