A qualified production company means any company engaged in the production of motion pictures, TV motion pictures, television series, commercial advertising, music videos, or sound recordings that has been approved by statutory agencies and has obtained required certificates from concerned department. It is a legally recognized production company.
Following is an Alabama state statute [Code of Ala. § 41-7A-42] defining Qualified production company.
a. The term means a company engaged in the business of producing a Qualified Production, as that term is defined.
b. The term does not mean or include any company owned, affiliated, or controlled, in whole or in part, by any company or person which is in default on a loan.