Increase or Decrease of Capital Stock. — Alabama Code § 27-30-28
Alabama Code § 27-30-28 — Increase or Decrease of Capital Stock.. Reproduced from the official Code of Alabama, with a citation summary, verification link, and related provisions.
§ 27-30-28. Increase or Decrease of Capital Stock.
(a) A domestic mutual aid association incorporated on the stock plan, whether heretofore or hereafter formed, may increase or decrease the amount of its authorized capital stock by amendment of its articles of incorporation in the same manner, and subject to the same conditions and procedures, as apply to domestic stock insurers in general under this title.
(b) As to a corporation formed prior to January 1, 1972, no increase of authorized capital stock shall be made which does not bring the amount thereof up to at least $50,000.00, and no decrease of authorized capital stock shall be made which reduces authorized capital stock below $50,000.00.
Source: official Alabama text · Last verified 2026-08-27
At a glance
- Citation: Code of Alabama § 27-30-28
- Jurisdiction: Alabama
- Code: Code of Alabama
- Subject: Increase or Decrease of Capital Stock.
- Text: transcribed from the official source (verify below)
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Statute text is transcribed from the official Code of Alabama. Confirm it against the primary source before relying on it:
Not legal advice. Verify against the official source and consult a licensed Alabama attorney.
Common questions
What is the source of Code of Alabama § 27-30-28?
The text above is transcribed from the Code of Alabama, the codified statutes of Alabama. The official publisher link appears under "Verify the text" on this page.
What subject does Code of Alabama § 27-30-28 address?
It addresses "Increase or Decrease of Capital Stock.". Read the section together with the surrounding provisions listed under "Nearby provisions" for the full picture.
Is Code of Alabama § 27-30-28 still in force?
Statutes are amended, repealed, and renumbered every session. Confirm the current version at the official Alabama source before relying on this text.
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