Alabama Conversion of a Domestic Entity — Business Corporation to Nonprofit Corporation is a process in which a business corporation, registered in the state of Alabama, can convert to a nonprofit corporation. The conversion can take place through a Certificate of Conversion, which is filed with the Secretary of State of Alabama. The Certificate of Conversion must include the name of the business corporation, the name of the nonprofit corporation, the address of the corporate office, the purpose of the nonprofit corporation, and the effective date of the conversion. After the Certificate of Conversion is approved, the business corporation is officially converted to a nonprofit corporation. The two types of Alabama Conversion of a Domestic Entity — Business Corporation to Nonprofit Corporation are: 1. Statutory Conversion: A statutory conversion is a conversion process that is authorized and regulated by the state of Alabama. It requires the business corporation to comply with the state's conversion statute. 2. Non-Statutory Conversion: A non-statutory conversion is a conversion process that is not authorized or regulated by the state of Alabama. This type of conversion requires the business corporation to follow the rules and regulations of the particular nonprofit corporation to which it is converting.
Alabama Conversion of a Domestic Entity - Business Corporation to Nonprofit Corporation
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