Alabama § 11-20-44 Conveyances, Etc., of Assets to Corporations by Other Public Corporations; Assumption of Obligations or Indebtedness of Corporations Making Conveyances, Etc

Alabama Statutes

§ 11-20-44 — Conveyances, Etc., of Assets to Corporations by Other Public Corporations; Assumption of Obligations or Indebtedness of Corporations Making Conveyances, Etc

Alabama § 11-20-44

Title 11Counties and Municipal Corporations

Ch. 20Promotion of Industry and Trade

Art. 2Industrial Development Boards

This text of Alabama § 11-20-44 (Conveyances, Etc., of Assets to Corporations by Other Public Corporations; Assumption of Obligations or Indebtedness of Corporations Making Conveyances, Etc) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ala. Code § 11-20-44 (2026).

Text

Any public corporation organized pursuant to the provisions of any other law of this state may, either with or without the payment of pecuniary consideration, transfer, assign or convey all or any part of its assets, including, but without limitation, land, interests in land, improvements, buildings, structures, roads, utility facilities, cash and any facilities which would be a part of a project, to any corporation organized pursuant to the provisions of this article, and any corporation so organized under the provisions of this article is authorized to assume any obligation or indebtedness of any such other public corporation making such a conveyance, transfer or assignment, provided such indebtedness is payable solely out of the revenues and income of a project or of the facilities and 

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Any public corporation organized pursuant to the provisions of any other law of this state may, either with or without the payment of pecuniary consideration, transfer, assign or convey all or any part of its assets, including, but without limitation, land, interests in land, improvements, buildings, structures, roads, utility facilities, cash and any facilities which would be a part of a project, to any corporation organized pursuant to the provisions of this article, and any corporation so organized under the provisions of this article is authorized to assume any obligation or indebtedness of any such other public corporation making such a conveyance, transfer or assignment, provided such indebtedness is payable solely out of the revenues and income of a project or of the facilities and assets so transferred, assigned or conveyed.