Code of Alabama - Title 10A: Alabama Business and Nonprofit Entities Code - Section 10A-5A-11.16 - Effect of reinstatement

Section 10A-5A-11.16 - Effect of reinstatement.

(a) Subject to subsection (b), upon reinstatement, a series shall be deemed for all purposes to have continued its activities and affairs as if dissolution had never occurred; each right inuring to, and each debt, obligation, and liability incurred by, the series after the dissolution shall be determined as if the dissolution had never occurred.

(b) The rights of persons acting in reliance on the dissolution of the series before those persons had notice of the reinstatement shall not be adversely affected by the reinstatement.

(Act 2014-144, p. 265, §1.)

Last modified: May 3, 2021