Section 10-10-9 Powers; conveyances; exemption from liability. - Alabama Statutes

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Section 10-10-9

Powers; conveyances; exemption from liability.

A professional association organized pursuant to the provisions of this chapter may contract in its own name, take, hold and sell real and personal property in its own name, independent of its members, sue and be sued as independent entities as now provided by law. Any conveyance in the name of the professional association to a third person executed by the president and attested by the secretary shall be conclusively presumed to be properly executed and shall divest all right, title and interest of the professional association, its members and the board of governors thereof. The assets of a professional association shall not be liable to attachment for the individual debts of its members or shareholders.

(Acts 1961, No. 865, p. 1349, §14.)

State Codes and Statutes

Statutes > Alabama > Title10 > Chapter10 > 10-10-9

Section 10-10-9

Powers; conveyances; exemption from liability.

A professional association organized pursuant to the provisions of this chapter may contract in its own name, take, hold and sell real and personal property in its own name, independent of its members, sue and be sued as independent entities as now provided by law. Any conveyance in the name of the professional association to a third person executed by the president and attested by the secretary shall be conclusively presumed to be properly executed and shall divest all right, title and interest of the professional association, its members and the board of governors thereof. The assets of a professional association shall not be liable to attachment for the individual debts of its members or shareholders.

(Acts 1961, No. 865, p. 1349, §14.)

State Codes and Statutes

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State Codes and Statutes

Statutes > Alabama > Title10 > Chapter10 > 10-10-9

Section 10-10-9

Powers; conveyances; exemption from liability.

A professional association organized pursuant to the provisions of this chapter may contract in its own name, take, hold and sell real and personal property in its own name, independent of its members, sue and be sued as independent entities as now provided by law. Any conveyance in the name of the professional association to a third person executed by the president and attested by the secretary shall be conclusively presumed to be properly executed and shall divest all right, title and interest of the professional association, its members and the board of governors thereof. The assets of a professional association shall not be liable to attachment for the individual debts of its members or shareholders.

(Acts 1961, No. 865, p. 1349, §14.)