Code of Alabama - Title 10A: Alabama Business and Nonprofit Entities Code - Section 10A-2-8.32 - Depreciating stocks or bonds of corporation with intent to buy

Section 10A-2-8.32 - Depreciating stocks or bonds of corporation with intent to buy.

REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE JANUARY 1, 2020.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

No president, director, or managing officer of any corporation, by whatsoever name or title he or she may be known or called, shall do or omit to do any act, or shall make any declaration or statement in writing, or otherwise, with the intent to depreciate the market value of the stock or bonds of the corporation, and with the further intent to enable the president, director, or other managing officer, or any other person, to buy any stock or bonds at less than the real value thereof.

(Acts 1994, No. 94-245, p. 343, §1; §10-2B-8.32; amended and renumbered by Act 2009-513, p. 967, §120.)

Last modified: May 3, 2021