Ala. Code § 43-2-721
This is the official text of Ala. Code § 43-2-721, part of Alabama’s Code — part of the compiled statutory law of Alabama, published by the state as "Code." Browse the sections below, each linked to its official government source.
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Section 43-2-721 Voting Procedure Generally; Proof of Claims Required
Official statutory text
(a) In making the nomination, each creditor, in person or represented, votes as follows:
(1) On claims held by any one creditor, not exceeding in the aggregate $1,000.00, one vote for each $100.00; and
(2) On claims held by any one creditor, exceeding in the aggregate $1,000.00, 10 votes for the first $1, 000.00, and one for every additional $500.00.
(b) Every creditor is entitled to one vote, and no creditor to more than 20.
(c) The nomination must be made in the presence and under the direction of the court. The amount of claims held by any creditor must be proved by affidavit, as required by Section 43-2-352. The court may require other evidence of the correctness and amount of the claim.
(1) On claims held by any one creditor, not exceeding in the aggregate $1,000.00, one vote for each $100.00; and
(2) On claims held by any one creditor, exceeding in the aggregate $1,000.00, 10 votes for the first $1, 000.00, and one for every additional $500.00.
(b) Every creditor is entitled to one vote, and no creditor to more than 20.
(c) The nomination must be made in the presence and under the direction of the court. The amount of claims held by any creditor must be proved by affidavit, as required by Section 43-2-352. The court may require other evidence of the correctness and amount of the claim.
Status: in_force · Read it on the official government site
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