Section 10-9B-1101

Definitions.

In this article, unless the context clearly indicates otherwise, the following terms have the following definitions:

(1) BUSINESS ENTITY. Any business entity within the definition of Section 10-9B-101(1) of this chapter.

(2) CORPORATION. A corporation created under the Alabama Business Corporation Act, predecessor law, or comparable law of another jurisdiction.

(3) EQUITY OWNER. Any person having an ownership interest in a business entity.

(4) FOREIGN LIMITED PARTNERSHIP. The meaning given in Section 10-9B-101(5) of this chapter.

(5) GENERAL PARTNER. A general partner in a limited partnership as defined in Section 10-9B-101(7) of this chapter, predecessor law, or comparable law of another jurisdiction, or a partner in a general partnership or in a registered limited liability partnership under the Alabama Uniform Partnership Act, predecessor law, or comparable law of another jurisdiction.

(6) GENERAL PARTNERSHIP. An association of two or more persons to carry on as co-owners a business for profit formed under the Alabama Uniform Partnership Act, predecessor law, or comparable law of another jurisdiction, and includes a registered limited liability partnership.

(7) LIMITED LIABILITY COMPANY. A limited liability company created under the Alabama Limited Liability Company Act, predecessor law, or comparable law of another jurisdiction.

(8) LIMITED PARTNER. A limited partner in a limited partnership under Section 10-9B-101(8) of this chapter, predecessor Alabama law, or comparable law of another jurisdiction.

(9) LIMITED PARTNERSHIP or DOMESTIC LIMITED PARTNERSHIP. The meaning given in Section 10-9B-101(9) of this chapter.

(10) MEMBER. A person reflected in the required records of a limited liability company as the owner of some governance rights of a membership interest in the limited liability company.

(11) PARTNER. Includes both a general partner and a limited partner.

(12) SHAREHOLDER. The person in whose name the units into which proprietary interests in a corporation are divided, are registered in the records of the corporation, or the beneficiary owner of such units to the extent of the rights granted by a nominee certificate on file with a corporation.

(Act 97-921, 1st Ex. Sess., p. 335, § 1.)